Opening of Bids - WWTP Masonry Improvement Gallery Buildings 1-4 Proj No. 120-036 - Berglund Construction Company

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also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the combined financial statements. We believe that the audit evidence that we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, based on our audits and the reports of the other auditors, the combined financial statements referred to above present fairly, in all material aspects the combined financial position of the Company as of December 31, 2019 and 2018, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles general accepted in the United States of America. Emphasis of Matter - Adoption of Revenue Recognition Standard The Company adopted Accounting Standards Update ("ASU") No. 2014- 09, "Revenue from Contracts with Customers (Topic 606)", effective January 1, 2019. The Company adjusted revenue recognition and accounting for bond costs in the year ended December 31, 2019 due to this ASU, as described in Note 2 to the financial statements. Our opinion is not modified with respect to this matter. Report on Supplemental Information Our audit was conducted for the purpose of forming an opinion on the combined financial statements as a whole. The supplemental information, as listed in the table of contents, is presented for purposes of additional analysis and is not a required part of the combined financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the combined financial statements. The information has been subjected to the auditing procedures applied in the audit of the combined financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the combined financial statements or to the combined financial statements themselves, and other additional procedures in accordance with the auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the combined financial statements as a whole. O'NEILL & GASPARDO, LLC Mokena, Illinois June 2, 2020 2