Montana Lottery Annual Report 1997

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TboSE STANdARds require tLiAT we ptAN ANd pERfoRM tLiE AudiT TO obTAiN REASONAbtE ASSURANCE AboUT wLiEtLiER tLiE fiNANCiAf STATEMENTS ARE fREE of MATERJAt MISSTATEMENT, An AudiT JNcfudES EXAMJNiNq, ON A TEST bASiS, EVidENCE SUppORTJNq tLiE amounts ANd diSctoSURES In tU^ fiNANCiAf STATEMENTS, An AudiT AtsO iNctudES ASSESSiNq tLiE ACCOUNTiNq pRJNCiptES USEd ANd SiqNifiCANT ESTIMATES MAdE by MANAqEMENT, AS WEfl AS EVAfuATJNq tIhE OVERAff fiNANCiAf STATEMENT PRESENTATION. We bEflEVE tLiAT OUR AudiT... pROVidES A REASONAbfE bASiS foR OUR OpiNlON, As discussEd In Note 1 , tLie fiNANCiAf statements present ONty tLie Montana State Lottery ^^d are not iNTENdEd TO PRESENT TfrE fiNANClAf pOSlTJON of tUe StATE of MoNTANA ANd tLiE RESufTS of ItS OpERATlONS ANd CAsh ffoWS of Its PROPRIETARY fuNd TYPES ANd NONEXpENdAbfE TRUST fuNds IN CONfoRMlTV wItLi qENERAffy ACCEpTEd ACCOUNTiNq pRJNCipiES.
In OUR OpiNION, tLiE flNANClAf STATEMENTS REfERREd TO AboVE pRESENT fAmfy, In Atf MATERlAt RESpECTS, tLiE filNANClAf pOSlTlON of MONTANA StATE LOTTERY, ^^^ ENTERpRlSE fuNd of tLiE StATE of MONTANA, AS of JuNE ?0, 1 99 7 ANd 1 996, ANd tLie RESutTs of Its operations ANd Its CAsb flows foR TtnE years tLien ENdEd In coNfoRMJTY wItLi qENERAffy ACCEpTEd ACCOUNTiNq pRiNCipfES, As dESCRlbEd In Note 14 lo tLie fiNANCiAf statements, tLie Montana State Lottery AdopTEd CASB No.


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