3.0.b. SWCSR 08-15-2019 - Laserfiche WebLink

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Board of Directors Sherburne Wright County Cable Communications Commission Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles As described in Note 1 to the financial statements, to meet the financial reporting requirements of the Minnesota Office of the State Auditor, the financial statements are prepared by the Commission in accordance with the financial reporting provisions of the accounting practices prescribed or permitted by the Minnesota Office of the State Auditor, which is a basis of accounting other than accounting principles generally accepted in the United States of America. The effects on the financial statements of the variances between the regulatory basis of accounting described in Note 1 and accounting principles generally accepted in the United States of America, although not reasonably determinable, are presumed to be material. Adverse Opinion on U.S. Generally Accepted Accounting Principles In our opinion, because of the significance of the matter discussed in the Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles paragraph, the financial statements referred to above do not present fairly, in accordance with accounting principles generally accepted in the United States of America, the financial position of the Commission as of December 31, 2017, or changes in financial position, or where applicable, cash flows thereof for the year then ended. Unmodified Opinion on Regulatory Basis of Accounting In our opinion, the financial statements referred to above present fairly, in all material respects, the cash balances of the Commission as of December 31, 2017, and the cash receipts and disbursements for the year then ended, in accordance with the financial reporting provisions of the Minnesota Office of the State Auditor described in Note 1. Other Matters Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise Sherburne Wright County Cable Communications Commission's regulatory basis financial statements. The schedule of accounts receivable and schedule of accounts payable are presented for purposes of additional analysis and are not a required part of the regulatory basis financial statements. The schedules have not been subjected to the auditing procedures applied in the audit of the regulatory basis financial statements and, accordingly, we do not express an opinion or provide any assurance on them. CliftonLarsonAllen LLP Buffalo, Minnesota May 15, 2019 (3)