Independent Auditors' Report

The Board of Directors
Public Broadcasting Service:

We have audited the accompanying consolidated statements of financial position of Public Broadcasting Service and subsidiary (PBS) as of June 30, 2001 and 2000, and the related consolidated statements of activities and cash flows for the years then ended. These consolidated financial statements are the responsibility of PBS's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of PBS as of June 30, 2001 and 2000, and their changes in net assets and their cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

September 14, 2001

There are five parts to the financial statements.
Click on a link below to go to that section.

1. Independent Auditors’ Report (above)
2. Consolidated Statements of Financial Position
3. Consolidated Statements of Activities
4. Consolidated Statements of Cash Flows
5. Notes to Consolidated Financial Statements (6 pages)