We have completed a financial audit of the Wisconsin Educational Communications Board Radio Network for the year ended June 30, 1997. We performed the audit at the request of the Educational Communications Board to fulfill audit requirements of the Corporation for Public Broadcasting.

The Educational Communications Board, which is an agency of the State of Wisconsin, operates a radio network consisting of ten FM stations and one AM station, as well as a television network consisting of five stations. The radio network received over $4.7 million in support and revenue in fiscal year 1996-97, including state support, member contributions, and various grants.

Our audit report contains an unqualified independent auditor's opinion on the financial statements and related notes, as well as an independent auditor's report on compliance and internal control over financial reporting.