Audit report

SOUTHWESTERN OREGON COMMUNITY COLLEGE DISTRICT ANNUAL FINANCIAL REPORT For the Year Ended June 30, 2007 SOUTHWESTERN OREGON COMMUNITY COLLEGE DISTRICT COLLEGE DISTRICT OFFICIALS As of June 30, 2007 Lonny Anderson Board Chair Cherie Mitchell Board Vice Chair Harry Abel David Bridgham Rick Howell Marcia Jensen Carol Oelke ______________________________________________________________ Dr. Judith Hansen, President/Clerk Dr. Sheldon Meyer – Vice President of Administrative Services Joe Colo – Business Manager through June 30, 2007 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, 2007 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 20-37 SUPPLEMENTAL FINANCIAL INFORMATION Combining Balance Sheet 38 Combining Schedule of Revenues, Expenditures and Changes in Fund Balances in Compliance with GAAP 39 Reconciliation of Combining Balance Sheet to ...