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Fiscal 2004 Audit Report for OVLR - Summary

Dated: January 31, 2005

As auditor of the 2004 books, I can report that all accounts and transactions are in good order. The Treasurer should be commended for his accuracy in records and ability to maintain full traceability.

In total, four observations were made to the 2004 and 2005 OVLR executive. Two of which have been resolved satisfactorily.

The auditor confirms a net negative cash flow for the club of ($790.06) and a final asset balance of $9110.38. There is an estimated liability of $556.60.

It is recommended that the FY05 executive undertake to review the asset value of the trailer and equipment. It is further recommended that the executive confirm the value of inventory on hand.

Details of the audit are available from the executive or the auditor upon request.



Christian Szpilfogel

Auditor 2004 for OVLR