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Board of Directors <br />Paris Economic Development Corporation <br />Page 2 <br />Opinion <br />In our opinion, the financial statements referred to above present fairly, in all material respects, the financial <br />position of PEDC as of September 30, 2014, and the results of its operations for the year then ended in conformity <br />with accounting principles generally accepted in the United States of America. <br />Our audit was conducted for the purpose of forming an opinion on the financial statements taken as a whole. The <br />Continuing Disclosure Information is presented for purposes of additional analysis and is not a required part of the <br />financial statements. Such information has not been subjected to the auditing procedures applied in the audit of the <br />financial statements, and accordingly, we express no opinion on it. <br />Additional Information <br />Accounting principles generally accepted in the United States of America require that the Budgetary Comparison <br />Schedule on page 10 be presented to supplement the basic financial statements. Such information, although not a <br />part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers <br />it to be an essential part of financial reporting for placing the basic financial statements in an appropriate <br />operational, economic, or historical context. We have applied certain limited procedures to the required <br />supplementary information in accordance with auditing standards generally accepted in the United States of <br />America, which consisted of inquiries of management about the methods of preparing the information and <br />comparing the information for consistency with management's responses to our inquiries, the basic financial <br />statements, and other knowledge we obtained during our audit of the basic financial statements. We do not <br />express an opinion or provide any assurance on the information because the limited procedures do not provide us <br />with sufficient evidence to express an opinion or provide any assurance. <br />Management has not presented Management's Discussion and Analysis that governmental accounting principles <br />generally accepted in the United States of America require to be presented to supplement the basic financial <br />statements. Such missing information, although not a part of the basic financial statements, is required by the <br />Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for <br />placing the basic financial statements in an appropriate operational, economic, or historical context. Our opinion <br />on the basic financial statements is not affected by this missing information. <br />`Jc,NA.1� AIJ A&"', L�� <br />Certified Public Accountants <br />January 5, 2015 <br />Paris, Texas <br />