Summary of Selected
Financial Data
1996 - 2005
Management's Report of Internal Control Over Financial Reporting
The Corporation’s management is
responsible for establishing and maintaining adequate internal control over
financial reporting. This internal control system was designed to provide
reasonable assurance to management and the Board of Directors as to the reliability
of the Corporation’s financial reporting and the preparation and presentation
of financial statements for external purposes in accordance with accounting
principles generally accepted in the United States, as well as to safeguard
assets from unauthorized use or disposition.
An internal control system, no matter how well designed, has inherent limitations. Therefore, even
those systems determined to be effective can provide only reasonable assurance with respect to
financial statement preparation and presentation and may not prevent or detect mis-statements in the
financial statements or the unauthorized use or disposition of the Corporation’s assets. Also,
projections of any evaluation of effectiveness of internal controls to figure periods are subject to the
risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with policies and procedures may deteriorate.
Management assessed the effectiveness of the Corporation’s internal control over financial
reporting as of December 31, 2005, based on the criteria set forth by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO) in Internal Control–Integrated Framework.
Based on this assessment and on the foregoing criteria, management has concluded that, as of
December 31, 2005, the Corporation’s internal control over financial reporting is effective.
Ernst & Young LLP, an independent registered public accounting firm, has audited the
Consolidated Financial Statements of the Corporation for the three years ended December 31, 2005,
appearing elsewhere in this annual report, and has issued an attestation report on management’s
assessment of the effectiveness of the Corporation’s internal control over financial reporting as of
December 31, 2005, as stated in their report, which is included herein.
William B. Grant Carissa
L. Rodeheaver
Chairman of the Board and Senior
Vice President and
Chief Executive Officer Chief
Financial Officer