Tedford Housing 2008 Audit

TEDFORD HOUSING TABLE OF CONTENTS JUNE 30, 2008 Independent Auditors’ Report Exhibit Statements of Financial Position A Statements of Activities B Statements of Functional Expenses C Statements of Cash Flows D Notes to Financial Statements INDEPENDENT AUDITORS’ REPORT Board of Directors Tedford Housing P.O. Box 958 Brunswick, Maine 04011 We have audited the accompanying statement of financial position of Tedford Housing (a nonprofit organization) as of June 30, 2008 and 2007, and the related statements of activities, functional expenses, and cash flows for the years then ended. These financial statements are the responsibility of the Organization’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that ...