6-30-08 auditx

SOUTHWESTERN OREGON COMMUNITY COLLEGE DISTRICT ANNUAL FINANCIAL REPORT For the Year Ended June 30, 2008 SOUTHWESTERN OREGON COMMUNITY COLLEGE DISTRICT COLLEGE DISTRICT OFFICIALS As of June 30, 2008 Lonny Anderson Board Chair Cherie Mitchell Board Vice Chair Harry Abel David Bridgham Rick Howell Marcia Jensen Carol Oelke ______________________________________________________________ Dr. Judith Hansen, President/Clerk Patty Scott, President/Clerk (resigned October of 2008) (started October of 2008) Dr. Sheldon Meyer, Linda Kridelbaugh, Vice President of Administrative Services Interim Vice President of Administrative Services (retired October of 2008) (started October of 2008) Ron Olson – Business Office Director Southwestern Oregon Community College 1988 Newmark Avenue Coos Bay, OR 97420 SOUTHWESTERN OREGON COMMUNITY COLLEGE DISTRICT ANNUAL FINANCIAL REPORT For the Year Ended June 30, 2008 TABLE OF CONTENTS Page COLLEGE DISTRICT OFFICIALS Previous FINANCIAL SECTION Independent Auditor’s Report 1-2 Management’s Discussion and Analysis 3-13 Basic Financial Statements Statement of Net Assets 14-15 Statement of Revenues, Expenses, and Changes in Net Assets 16-17 Statement of Cash Flows 18-19 Notes to the Basic Financial Statements 20-42 SUPPLEMENTAL FINANCIAL INFORMATION ...