Special Annual Report Issue - AgGeorgia Farm Credit

AgGeorgia Farm Credit, ACAReport of Independent AuditorsReport of Independent AuditorsPricewaterhouseCoopers LLP10 Tenth Street, Suite 1400Atlanta, GA 30309Telephone (678) 419 1000Report of Independent AuditorsTo the Board of Directors and Membersof AgGeorgia Farm Credit, ACAIn our opinion, the accompanying consolidated balance sheets and the relatedconsolidated statements of income, of changes in members’ equity and of cash flowspresent fairly, in all material respects, the financial position of AgGeorgia Farm Credit,ACA (the Association) and its subsidiaries at December 31, 2006, 2005 and 2004, andthe results of their operations and their cash flows for each of the three years in theperiod ended December 31, 2006 in conformity with accounting principles generallyaccepted in the United States of America. These financial statements are theresponsibility of the Association’s management. Our responsibility is to express anopinion on these financial statements based on our audits. We conducted our audits ofthese statements in accordance with auditing standards generally accepted in the UnitedStates of America. Those standards require that we plan and perform the audit to obtainreasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting theamounts and disclosures in the financial statements, assessing the accounting principlesused and significant estimates made by management, and evaluating the overallfinancial statement presentation. We believe that our audits provide a reasonable basisfor our opinion.February 28, 2007AgGeorgia.51.Winter 200720