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n <br />♦ <br />■ft' <br />f <br />r <br />% <br />I:^ % <br />0,\ <br />f V« <br />I <br />li-V- <br />r <br />{ <br />Babcock, L^gbein and Company <br />CertUied Publk AccountMitU <br />A ProfessiaiuJ AsxKiatJoa <br />Slioneapolii, Minnesota 55^2! <br />(612) 7SI-9354 <br />Lake Minnetonka Cable Communications Commission <br />Excelsior, Minnesota <br />INDEPENDENT A UDITOR S REPi)RT <br />We have audited the accompanying statements of assets, iiabilities and <br />of the Lake Minnetonka Cabie Communications Commission as of Decemb . ' <br />and the related statements of Income and operating fund-cash basis, res ric e a <br />basis and cash flows-cash basis tor the years then ended These financial st:.terne.'^5 a <br />the responsibility of the Commission's management. Our responsibility is t'. - <pre. <br />opinion on these financial statements based on our audit. <br />->c,o <br />and significant estimates made by management, as well as ® ° ® . <br />statement presentation. Wa believe that our audit provides a reasonable basis <br />opinion. <br />AS desaibad in Note 1. these financial statements were prepared on the cash <br />accounting, which is a comprehensive basis of accounting other than generally accepted <br />accounting principles. <br />in our opinion, the finar.cial statements referred to above present fairly, in all <br />material respects, the assets, liabilities, and fund balances of the Lake Minnetonka <br />CarCoTunLons commissi -99, and '^^O. and its inco^ <br />expenses, operating fund balances, restricted fund balances, and cash nows lor the years <br />then ended, on the cash basis of accounting described in Note 1. <br />h\ i' iay'''0 ‘ i'MN'ff'V. •! Lt-fV-r'/u <br />Babcock. Langbem and Company <br />February 28. 1992 <br />-1-