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<br />Aooendix A-2 <br />AUDITORS REPORT <br /> <br />ARKANSAS RIV~R COMPACT ADMINISTRATION <br />NOTES TO CASH BASIS STATEMENTS <br />JUlllt 30, 1991 <br /> <br />tlO,E I - Sun:m:lry of aigniflc~nt ,,"ccounting P01i<;l~.. <br /> <br />4. The Admini.tr~tlon moint41na financial records <br />~lng the cosh basIs of accountlng. By using <br />the cash basis of accounting. certain revenues <br />are recognl~ed when recelved rather thGn when <br />earned, and certain expen!es and purchases of <br />098eto are recognized ~hen C43h io dl~burBed <br />rather than ~hen the obligation is l11curred. <br /> <br />5 <br /> <br />36 <br /> <br />.oc.,n' <br />