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Fiscal 2007 Audit Report for OVLR - Summary

Dated: February 3, 2008

As auditor of the 2007 books, I can report that all accounts and transactions are in good order. The Treasurer has out down himself this year and should be once again commended for his accuracy in records and ability to maintain full traceability. It should also be noted that recommendations made during the audit of FY2006 were implemented and followed in FY2007.

Exemplary methods have been followed not only in tracking completed transactions but also pending transactions

The auditor confirms a net negative cash flow for the club of  $(12.39) and a final asset balance of $8410.01.

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 2007 for OVLR