WSP00542 - Laserfiche WebLink

Home Browse Search

Aooendix A-2 AUDITORS REPORT m:..:::~] FARME:..:I l.r--"6~ RENKEN Conifled Public Accountants and Management Consultlnts Indenendent Auditor's Recort We have audi'ted the accompanying statements of assets and liabilities cash basis of the Arkansas River Compact Administration as of June 30, 1989, and the related statements of revenue collected and expenses paid for the year then ended. These financial statements are the responsibility of the Administration's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We beliQve that our audit provides a reasonable basis for our opinion. As described in Note la, these financial statements were prepared on the basis of cash receipts and disbursements, which is a comprehensi'.re basis of accounting other than generally accepted accounting principles. In our opinion, the financial statements referred to above present fairly, in all material respects, the assets and liabT11tles- cash bas~s ot tne ArKansas x~ver Compact Administration as of June 30, 1989, and its revenue collected and e)(penses paid during the year then ended, on the basis of accounting described in Note la. ~~~ October 13, 1989 1 203 Easl Oak. P.D BOlt 1173. Lamar. Colorado 81052. (7191336.7428 MrmO.'J 01 Amr",." r""du'. or C...rd,rri AJMc Acco"nr.nrs ."d COIO'NO SO""~ 01 C.'MI.d AJMc Acco"nr."rs 30 AACA1.e,