The condensed statement of financial position and the condensed statement of operations are derived from the financial statements of the Walker Art Center as of June 30, 1999, which have been audited by Ernst & Young. The statement of operations does not include receipts and disbursements of funds for the acquisition of works of art, and the statement of financial position does not include the value of the museum’s collection. A complete set of the Walker’s audited financial statements for 19981999 is available upon request.

David Galligan, Treasurer