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We have audited the accompanying consolidated statement of financial position
of Minnesota Public Radio and subsidiaries, an affiliated
organization of Minnesota Communications Group, as of June 30, 1999, and the related
consolidated statements of acti vities, functional
expenses and of cash flows for the year then ended. These consolidated financial
statements are the responsibility of the management of
Minnesota Public Radio and subsidiaries. Our responsibility is to express an opinion
on these cons olidated financial statements based on
our audit.
We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the consolidated financial
statements are free of material misstateme nt. An audit
includes examining, on a test basis, evidence supporting the amounts and disclosures
in the consolidated financial statements. An audit also
includes assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall
consolidated financial statement presentation. We believe that our audit provides
a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all
material respects, the consolidated financial position of Minnesota
Public Radio and subsidiaries as of June 30, 1999, and the consolidated results
of their activities, funct ional expenses and cash flows for
the year then ended, in conformity with generally accepted accounting principles.
October 15, 1999
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