December 1999

EDUCATIONAL COMMUNICATIONS BOARD RADIO NETWORK

We have completed a financial audit of the Wisconsin Educational Communications Board Radio Network for the year ended June 30, 1999, and have issued an unqualified independent auditor’s report on its financial statements and notes. We performed the audit at the request of the Educational Communications Board, to fulfill audit requirements of the Corporation for Public Broadcasting. The Corporation requires audited financial statements of public broadcasting entities to determine future funding levels.

The Educational Communications Board, which is an agency of the State of Wisconsin, operates a radio network of ten FM stations and one AM station, as well as a television network of five stations. The radio network received over $6.2 million in support and revenue during fiscal year 1998-99, including state support, member contributions, funding from the Corporation for Public Broadcasting, and various other grants.