2005 SEH Audit Report - Draft4

STATE OF NEW JERSEY SMALL EMPLOYER HEALTH BENEFITS PROGRAM Financial Statements as of and for the year ended June 30, 2005 And Independent Auditors’ Report STATE OF NEW JERSEY SMALL EMPLOYER HEALTH BENEFITS PROGRAM Table of Contents Page Independent Auditors’ Report 1-2 Management’s Discussion and Analysis 3-4 Financial Statements as of and for the Year Ended June 30, 2005: Staemnt ofNet Asets 5 Statement of Changes in Net Assets 6 Notes to Financial Statements 7-11 Independent Auditors’ Report on Internal Control over Financial Reporting and On Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 11-12 Certified Public Accountants 293 Eisenhower Parkway, Suite 270 Livingston, New Jersey 07039 (973) 535-2880 ______________________________________________________________________________ McENERNEY, BRADY & COMPANY, LLC INDEPENDENT AUDITORS’ REPORT Board of Directors State of New Jersey Small Employer Health Benefits Program Trenton, New Jersey We have audited the accompanying statement of net assets of the State of New Jersey Small Employer Health Benefits Program (the “Program”), as of June 30, 2005 and the related statement of changes in ...