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Management's Discussion and Analysis is not a required part of the basic financial statements but is <br />supplementary information required by the Governmental Accounting Standards Board. We have <br />applied certain limited procedures, which consisted principally of inquiries of management regarding <br />the methods of measurement and presentation of the required supplementary information. However, <br />we did not audit this information and express no opinion thereon. <br />Our audit was performed for the purpose of forming an opinion on the financial statements that <br />collectively comprise the basic financial statements of the Authority. The accompanying schedule of <br />expenditures of Federal and State awards, as required by U.S. Office of Management and Budget <br />Circular A-133, Audits of States, Loca! Governments, and Non-Profit Organizations and the State <br />Single Audit Implementation Act, is presented for purposes of additional analysis and is not a required <br />part of the basic financial statements. Such information has been subjected to the auditing procedures <br />applied in the audit of the basic financial statements and, in our opinion, is fairly stated, in all material <br />respects, in relation to the basic financial statements taken as a whole. <br /> <br />CARSON, ALLEN, WEISHAIR 8~ CO., LLP <br />Charlotte, North Carolina <br />August 25, 2006 <br />(2) <br />G-~ <br />