Public Storage 2002 Annual Report Download - page 67

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57
ITEM 14. Controls and Procedures
The Company maintains disclosure controls and procedures that are designed to ensure that information
required to be disclosed in reports the Company files and submits under the Exchange Act, is recorded, processed,
summarized and reported within the time periods specified in accordance with SEC guidelines and that such
information is communicated to the Company's management, including its Chief Executive Officer and Chief
Financial Officer, to allow timely decisions regarding required disclosure based on the definition of "disclosure
controls and procedures" in Rule 13a-14(c) of the Exchange Act. In designing and evaluating the disclosure controls
and procedures, management recognized that any controls and procedures, no matter how well designed and
operated, can provide only reasonable assurance of achieving the desired control objectives. Also, the Company has
investments in certain unconsolidated entities. As the Company does not control or manage these entities, its
disclosure controls and procedures with respect to such entities are substantially more limited than those it maintains
with respect to its consolidated subsidiaries.
Within 90 days prior to the date of this report, the Company carried out an evaluation, under the
supervision and with the participation of the Company's management, including the Company's Chief Executive
Officer and the Company's Chief Financial Officer, of the effectiveness of the design and operation of the
Company's disclosure controls and procedures. Based upon this evaluation, the Company's Chief Executive Officer
and Chief Financial Officer concluded that the Company's disclosure controls and procedures were effective. There
have been no significant changes in the Company's internal controls or in other factors that could significantly affect
the internal controls subsequent to the date of the Company’s evaluation.