FairPoint Communications 2002 Annual Report Download - page 494

EXHIBIT. 99.6
INDEPENDENT AUDITORS' REPORT
To the Partners of
Illinois Valley Cellular RSA 2-I Partnership
We have audited the accompanying balance sheets of Illinois Valley Cellular RSA
2-I Partnership (an Illinois partnership) as of December 31, 2002 and 2001, and
the related statements of income, partners' capital, and cash flows for each of
three years in the period ended December 31, 2002. These financial statements
are the responsibility of the Operating Partner's management. Our responsibility
is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as, evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Illinois Valley Cellular RSA
2-I Partnership as of December 31, 2002 and 2001, and the results of its
operations and its cash flows for each of the three years in the period ended
December 31, 2002, then ended in conformity with accounting principles generally
accepted in the United States of America.
KIESLING ASSOCIATES LLP
Madison, Wisconsin
March 1, 2003
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ILLINOIS VALLEY CELLULAR RSA 2-1 PARTNERSHIP
BALANCE SHEETS
DECEMBER 31, 2002 AND 2001
2002 2001
---------------- ----------------
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 117,870 $ 102,338
Accounts receivable
Due from customers
Less allowance of $116,500 and $110,000, respectively 1,079,795 1,176,246
Affiliates 233,674 115,664
Other 58,018 65,137
Prepaids 97,384 3,446
---------------- ----------------
1,586,741 1,462,831
---------------- ----------------
PROPERTY AND EQUIPMENT
Plant in service 13,342,101 11,149,052
Less accumulated depreciation (6,833,198) (6,022,436)
---------------- ----------------
6,508,903 5,126,616