The Internal Revenue Service, Department of the Treasury

Attn: Ms Shana Nolan
Accounts Receivable/Payable
Hestia State University
Estrogen County

July 1, 2002

Dear Ms Nolan,

After a careful and extensive audit, we are pleased to confirm that no legal action will be undertaken concerning the Hestia State University accounts this year.

However, we would like to stipulate that we have flagged up several items for your consideration.

These include, but are not limited to:

* The sum of $537,988.03 invoiced to the HSU Athletic Department from Home Depot

* The sum of $763,998.00 invoiced to the HSU Library from QVC

* The sum of $35,199.02 invoiced to same from Pink Banana, Inc.

* The sum of $201,465.99 invoiced to the HSU Clinic from Bell Telecom, plc

* The sum of $278,659.00 invoiced to the HSU Office of the Dean from Estrogen County Clunky Shoe Wholesaler, Inc

* The sum of $23,679,479.00 invoiced to the HSU Catering Department from Liquor Barn

* The sum of $66,882.08 invoiced to same from Hersheys Food Corporation

* The sum of $7,967.02 invoiced to same from Vito the Axe Bookmaking and Friendly Loan Services, Inc.

* The sum of $12,764.30 invoiced to the HSU Theatre Department by "Watcher Today" magazine

* The sum of $95,986.02 invoiced to the HSU Office of Mediation from Golf Emporium

* The sum of $57,976.89 invoiced to the HSU Office of the President from the International Bottled Water Association

* The sum of $38,968.00 invoiced to the HSU Communications Department from REI's archery supply division

* The sum of $29,766.89 invoiced to the HSU Department of Archaeology from the Arab Republic of Egypt

* The sum of $67,247.01 invoiced to the HSU Counselling Services from Wella, USA

* The sum of $47,876.50 received by the HSU Fire Department from Sports Illustrated

* The sum of $2,876,569.95 invoiced to the HSU Office of Student Affairs from the Kim Catrell International Fan Club

We hope this list assists you in compiling next year's budget and tax return.

With regards, The IRS