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f^^^--" ~~u[}{]rw~ )l@rw~@ ARTHUR YOUNG &. COMPANY \850 ONE FIRST NATIONAL CENTER 1620 DODGE STREET OMAHA, NEBRASKA 68102 (402) 346~949.1 To the Ading Chairman Missouri River Basin Commission We h.lVe examined the accompanying statement of cash receipts and expenditures and remaining cash of the Missouri River Basin Commission at and for the year ended September 30. 1981 (final repon - see Note 2). Our examination was made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. As described in Note 2, the Commission ha.. been terminated as a result of action taken by the U.S. Water Resources Council. The Com- mission ceased operation September 30, 1981 and proceeded with the c1o..e-out of Commi..sion obligation.. and trander of the then remaining asset.. to the Missouri Basin States Association. As described in Note 1. the Commi....ion... policy is to prepare its financial statements on the basi.. of cash receipts and expenditures. As also described in that note, this basis of presentation results in a financial statement that differs from financial statements prepared in accordance with generally accepted accounting principles and is not intended to present the results of operations in accordance with generally accepted accounting principles. In our opinion. the statement mentioned above presents fairly the remaining cash of the Missouri River Basin Commis..ion at September 30,1981 (final report - see Note 2). and its cash receipts and ell.penditures for the year then ended. on the basis described in Note 1 which ba..is is consistent with that of the preceding year. ~rat~ February 22, 1982 1\