Fiscal
2006 Audit Report for OVLR - Summary
Dated: January 22, 2007
As auditor
of the 2006 books, I can report that all accounts and transactions
are in good order. The Treasurer is once again to be
commended for his accuracy in
records and ability to maintain
full traceability. It should also be noted that recommendations made
during the audit of FY2005 were implemented and followed in FY2006.
In total, one observation was
made to the 2006 and 2007 OVLR executive.
While not strictly an issue of financial audit, they were noted in passing and
worthy of mention. Specifically:
Ø
There were some
member applications not signed by the applicant. The executive should decide
whether this opens the club, its executives, or its members to potential
litigation.
The auditor
confirms a net positive cash flow for the club of $1276.60
and a final asset balance of $8422.40.
Once again it
is
recommended that the FY07 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.
Signed,
Christian
Szpilfogel
Auditor
2006 for OVLR