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<br />APPENDIX "A-1" <br /> <br />Audltor's Report <br /> <br />ARKANSAS RIVER COMPACT ADMINISTRATION <br /> <br />Crimond, Farmer & Co. <br />Certified Public Accountants <br />203 East Oak, P.O. Box 1173, Lamar, CO 81052 <br /> <br />To the Representatives <br />Arkansas River Compact Administration <br />Lamar, Colorado 81052 <br /> <br />We have examined the Statement of Assets and Liabilities Arising <br />from Cash Transactions of the Arkansas River Compact Administration <br />as of June 30, 1985, and the Statement of Cash Receipts and <br />Disbursements, Changes in Cash Balance and the Statement of Cash <br />Receipts and Disbursements with Budget Comparison for the year ended <br />June 30, 1985. Our examination was conducted in accordance with <br />generally accepted auditing standards, and accordingly, included such <br />lests of the accounting records and such other auditing procedures as we <br />considered necessary in the circumstances. <br />As described in Note 1 of the Notes to Financial Statements, the <br />accompanying statements are prePB:red on the cash basis of accounting <br />and accordingly they are not intended to be presented in conformity with <br />generally accepted accounting principles. <br />In our opinion, the financial statement presents fairly the Assets and <br />Liabilities Arising from Cash Transactions of the Arkansas River <br />Compact Administration as of June 30, 1985, and the results of Cash <br />Transactions for the year then ended on a basis consistent with the <br />previous year. <br /> <br />/s/ Crimond, Farmer & Co. <br />Certified Public Accountants <br /> <br />August 14, 1985 <br />Lamar, Colorado <br /> <br />[4 <br />