Financial Statements and Federal Single Audit Report Vera Water and Power Spokane County

Washington State Auditor’s Office Financial Statements and Federal Single Audit Report Vera Water and Power Spokane County Audit Period January 1, 2007 through December 31, 2007 Report No. 74789 Issue Date June 9, 2008 yyyy Washington State Auditor Brian Sonntag June 9, 2008 Board of Directors Vera Water and Power Veradale, Washington Report on Financial Statements and Federal Single Audit Please find attached our report on the Vera Water and Power’s financial statements and compliance with federal laws and regulations. We are issuing this report in order to provide information on the District’s financial condition. In addition to this work, we look at other areas of our audit client’s operations for compliance with state laws and regulations. The results of that audit will be included in a separately issued accountability report. Sincerely, BRIAN SONNTAG, CGFM STATE AUDITOR Insurance Building, P.O. Box 40021 Olympia, Washington 98504-0021 (360) 902-0370 TDD Relay (800) 833-6388 FAX (360) 753-0646 http://www.sao.wa.gov Table of Contents Vera Water and Power Spokane County January 1, 2007 through December 31, 2007 Federal Summary.......................................................................................................................................... 1 Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance ...