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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:

      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.



Christian Szpilfogel

Auditor 2006 for OVLR