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1 <br /> LarsonAllen® <br /> LLN <br /> CPAs, Consultants & Advisors <br /> www.larsonallen.com <br /> 1 <br /> INDEPENDENT AUDITORS' REPORT <br /> Board of Directors <br /> Sherburne-Wright County Cable Communications Commission II <br /> Buffalo, Minnesota <br /> We have audited the accompanying statement of balances arising from cash transactions of <br /> Sherburne-Wright County Cable Communications Commission II (the Commission), as of and for the <br /> year ended December 31, 2007, and the related statement of receipts, disbursements and changes in <br /> cash fund balances, as listed in the table of contents. These financial statements are the responsibility <br /> of the Commission's management. Our responsibility is to express an opinion on these financial <br /> statements based on our audit. <br /> We conducted our audit in accordance with auditing standards generally accepted in the United States <br /> of America. Those standards require that we plan and perform the audit to obtain reasonable <br /> assurance about whether the financial statements are free of material misstatement. An audit includes <br /> examining, on a test basis, evidence supporting the amounts and disclosures in the financial <br /> ' statements. An audit also includes assessing the accounting principles used and significant estimates <br /> made by management, as well as evaluating the overall financial statement presentation. We believe <br /> that our audit provides a reasonable basis for our opinion. <br /> ' As described more fully in Note 1, the Commission has prepared these financial statements using the <br /> cash basis of accounting, which is a comprehensive basis of accounting other than accounting <br /> ' principles generally accepted in the United States of America. <br /> In our opinion, the financial statements referred to above present fairly, in all material respects, the <br /> cash balances of Sherburne-Wright County Cable Communications Commission II as of December 31, <br /> ' 2007, and their respective cash receipts and disbursements for the year then ended, on the basis of <br /> accounting described in Note 1. <br /> The Commission has not presented Management's Discussion and Analysis that accounting principles <br /> generally accepted in the United States of America has determined is necessary to supplement, <br /> although not required to be a part of, the basic financial statements. <br /> ' LarsonAllen LLP <br /> Minneapolis, Minnesota <br /> September 30, 2008 <br /> � <br /> LarsonAllen LLP is a member of Nexia International,a worldwide network of independent accounting and consulting firms. <br /> INTERNATIONAL <br />