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PANNELL <br />KERR <br />FORSTER <br />Ce,tified Public Accountants <br />410 Park National Bank Bldg <br />5353 Wayzata Boulevard <br />Minneapolis. MN 55416 <br />Telephone (612) 545.0421 <br />City Council and Administration <br />City of Orono <br />Orono, Minnesota <br />We have compiled the accompanying forecasted sources and uses of cash of the <br />City's Special Assessment Debt Service Funds for the periods ending December 31, <br />1988, and subsequent years of the individual bond issues, in accordance with <br />standards established by the Pnerican Institute of Certified Public Accountants. <br />The accompanying presentations and this report were prepared to assist the City <br />in determining required future funding of its Special Assessment Debt Fund: and <br />should not be used for any other purpose. <br />A compilation is limited to presenting in the form of a forecast information <br />that is the representation of management and does not include evaluation of the <br />major assumptions underlying the forecast. We have not examined the forecast <br />and, accordingly, do not express an opinion or any other form of assurance on <br />the accompanying statements or assumptions. Furthermore, '.here will usually be <br />differences between the forecasted and u�tual results, because events and ci-- <br />cumstances frequently do :lot occur as expected, and those differences may be <br />material. We have no responsibility to update this report for evens and cir— <br />cumstances occurring after the date of this report. <br />August 24, 1988 <br />