@ MELANSON
INDEPENDENT AUDITORS’ REPORT
Board of Directors and Stockholder
Pennichuck Corporation and Subsidiaries
Opinion
We have audited the accompanying consolidated financial statements of Pennichuck Corporation
and Subsidiaries, which comprise the consolidated balance sheets as of December 31, 2021 and 2020,
and the related consolidated statements of income (loss), comprehensive income (loss), changes in
stockholder’s equity (deficit), and cash flows for the years then ended, and the related notes to
the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material
respects, the financial position of Pennichuck Corporation and Subsidiaries as of December 31,
2021 and 2020, and the results of their operations and their cash flows for the years then ended
in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United
State of America (GAAS). Our responsibilities under those standards are further described in the
Auditors’ Responsibilities for the Audit of the Financial Statements section of our report. We are
required to be independent of Pennichuck Corporation and Subsidiaries, and to meet our other
ethical responsibilities, in accordance with the relevant ethical requirements relating to our
audits. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated
financial statements in accordance with accounting principles generally accepted in the United
States of America, and for the design, implementation, and maintenance of internal control
relevant to the preparation and fair presentation of consolidated financial statements that are
free from material misstatement, whether due to fraud or error.
Merrimack, New Hampshire
Andover, Massachusetts
Greenfield, Massachusetts
Ellsworth, Maine 800.282.2440 | melansoncpas.com
