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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />ARKANSAS RIVER COMPACT ADMINISTRATION <br />NOTES TO CASH BASIS STATEMENTS <br />OCTOBER 31, 1976 <br /> <br />Note 1 - Summary of significant accounting policies: <br /> <br />a. The Administration maintains financial records <br /> <br />using the cash basis of accounting. By using the <br /> <br />cash basis of accounting certain key accounts needed <br /> <br />to present financial position and results of operations <br /> <br />are omitted; examples of these accounts are accounts <br />receivable and accounts payable. <br /> <br />-7- <br /> <br />~ <br />