Charter 1999 Annual Report Download - page 20

18 CHARTER COMMUNICATIONS18 CHARTER COMMUNICATIONS
Responsibility for Financial Statements
The management of Charter Communications, Inc. is
responsible for the information and representations
contained in the financial statements and in other sections
of this summary annual report. Management believes that
the financial statements, which include amounts that are
based on management’s best estimates and judgments, fairly
reflect the form and substance of transactions and reason-
ably represent the company’s financial condition and results
of operations. The condensed financial statements in this
report have been prepared based on the financial statements
contained in the company’s Annual Report on Form 10-K.
Those statements were prepared in conformity with
accounting principles generally accepted in the United
States. The independent public accountants audited those
statements in accordance with auditing standards generally
accepted in the United States and provided an objective,
independent review of the fairness of reported operating
results and financial position. Other information included
in this report is consistent, where applicable, with the finan-
cial statements.
The company maintains a system of internal accounting
policies, procedures and controls designed to provide rea-
sonable assurance, at appropriate cost, that the transactions
are executed in accordance with company’s authorization
and are properly recorded and reported in the financial
statements, and that assets are adequately safeguarded.
Qualified personnel are selected and an organization struc-
ture is maintained that provides for appropriate functional
responsibility.
Written policies and procedures have been developed
and are revised as necessary. The company maintains and
supports a program of internal audits with appropriate
management follow-up.
The board of directors, through its Audit Committee
composed of outside directors, is responsible for ensuring
that both management and the independent public account-
ants fulfill their respective responsibilities in regard to the
financial statements. Moreover, the independent public
accountants have full and free access to meet with the Audit
Committee, with or without management present, to discuss
accounting, control, audit and financial reporting matters.
JERALD L. KENT, PRESIDENT, CHIEF EXECUTIVE OFFICER AND DIRECTOR
KENT D. KALKWARF, SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
MARCH 2, 2000
To Charter Communications, Inc.:
We have audited, in accordance with auditing standards
generally accepted in the United States, the consolidated
balance sheet of Charter Communications, Inc. and
subsidiaries as of December 31, 1999, and the related
consolidated statements of operations, changes in stock-
holders’ equity and cash flows for the year ended December
31, 1999. We did not audit the financial statements of
Charter Communications VI Operating Company, LLC and
subsidiaries and CC VII—Falcon Systems as of December 31,
1999, and for the periods from the dates of acquisition
through December 31, 1999, which statements on a
combined basis reflect total assets and total revenues of
31 percent and 6 percent, respectively, of the related
consolidated totals of the Company. Those statements
were audited by other auditors whose reports have been
furnished to us, and our opinion, insofar as it relates to
amounts included for those entities, is based solely on the
reports of the other auditors. Such consolidated financial
statements, our report thereon dated March 2, 2000,
expressing an unqualified opinion, and the reports of other
auditors, are not presented herein and are included in the
Company’s 1999 Annual Report on Form 10-K. The accom-
panying condensed consolidated financial statements are
the responsibility of the Company’s management. Our
responsibility is to express an opinion on such condensed
consolidated financial statements in relation to the com-
plete consolidated financial statements.
In our opinion, based on our audit and the reports of
other auditors, the information set forth in the accompany-
ing condensed consolidated balance sheet as of December
31, 1999, and the related condensed consolidated state-
ments of operations and cash flows for the year ended
December 31, 1999 is fairly stated, in all material respects,
in relation to the consolidated financial statements from
which it has been derived.
ARTHUR ANDERSEN LLP
ST. LOUIS, MISSOURI
MARCH 2, 2000
Report of Independent Public Accountants