b'Responsibilities of Management for the Financial Statements (Continued) In preparing the financial statements, management is required to evaluate whether there are conditions or events, consideredintheaggregate,thatraisesubstantialdoubtaboutCapitalRegionAirportCommissionsabilityto continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter. Auditors Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee thatanauditconductedinaccordancewithgenerallyacceptedauditingstandards,GovernmentAuditing Standards, and the Specifications for Audits of Authorities, Boards, and Commissions will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for oneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,orthe override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually orintheaggregate,theywouldinfluencethejudgmentmadebyareasonableuserbasedonthefinancial statements. In performing an audit in accordance with generally accepted auditing standards, Government Auditing Standards, and the Specifications for Audits of Authorities, Boards, and Commissions, we:Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,and design and perform audit procedures responsive to those risks. Such procedures include examining, on a testbasis, evidence regarding the amounts and disclosures in the financial statements. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that areappropriateinthecircumstances,butnotforthepurposeofexpressinganopinionontheeffectivenessofCapital Region Airport Commissions internal control. Accordingly, no such opinion is expressed. Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofsignificantaccountingestimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raisesubstantialdoubtaboutCapitalRegionAirportCommissionsabilitytocontinueasagoingconcernforareasonable period of time.Wearerequiredtocommunicatewiththosechargedwithgovernanceregarding,amongothermatters,the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the managements discussion and analysis and schedules related to pension and OPEB funding as listed in the table of contents be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic,orhistoricalcontext.Wehaveappliedcertainlimitedprocedurestotherequiredsupplementary informationinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmerica,which consistedofinquiriesofmanagementaboutthemethodsofpreparingtheinformationandcomparingthe information for consistency with managements responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. 2'