Department of Environmental Conservation

Financial Statements for the Title V Operating Permit Program for the Two Years Ended March 31, 2003

In the Title V Operating Permit Program, the Department of Environmental Conservation regulates the amount of pollutants emitted by large businesses. The Program is financed by an annual fee assessed on the regulated businesses and, to the extent that Program costs are not covered by fee revenue, by State appropriations. As of March 31, 2003, the Programís fund balance totaled $2.9 million. We audited the consolidated statements of revenues, expenses and changes in fund balances pertaining to the Program for the two years ended March 31, 2003. We concluded that the financial statements were presented fairly in all material respects.

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