Xcel Energy 2010 Annual Report Download - page 90

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80
Management Report on Internal Controls Over Financial Reporting
The management of Xcel Energy is responsible for establishing and maintaining adequate internal control over financial
reporting. Xcel Energy’s internal control system was designed to provide reasonable assurance to the company’s management and
board of directors regarding the preparation and fair presentation of published financial statements.
All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to
be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.
Xcel Energy management assessed the effectiveness of the company’s internal control over financial reporting as of Dec. 31,
2010. In making this assessment, it used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO) in Internal Control — Integrated Framework. Based on our assessment, we believe that, as of Dec. 31,
2010, the company’s internal control over financial reporting is effective based on those criteria.
Xcel Energy’s independent auditors have issued an audit report on the company’s internal control over financial reporting. Their
report appears herein.
/S/ RICHARD C. KELLY /S/ DAVID M. SPARBY
Richard C. Kelly David M. Sparby
Chairman and Chief Executive Officer Vice President and Chief Financial Officer
February 28, 2011 February 28, 2011