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<br />, <br />I <br /> <br />" <br /> <br />f==- <br /> <br />~ <br /> <br />~~ <br />.- <br /> <br />ARKANSAS RIVER COMPACT ADMINISTRATION <br />NOTES TO CASH'BASIS STATEMENTS <br />OCTOBER 31, 1!!15 <br /> <br />Note I - Summary of signirlcant accounting policies: <br /> <br />a. The Administration maintains financial records using the cash <br />basis of accounting. By using the cash basis of accounting <br />certain key accounts needed to present financial position and <br />results of operations are omitted; examples of these accounts <br />are accounts receivable and accounts payable. <br /> <br />Note 2 - The restricted fund balance of the previous year arising from <br />a special payment of the State of Colorado was expended during the <br />riscal year. <br /> <br />While the $8.000 disbursement for the Concrete Control was not <br />budgeted for the fiscal year ended June 30. 1975, il was lhe <br />representatives intent that this expenditure be made in the manner <br />and at the time it was. <br /> <br />-}5- <br />