NCSSWFA 2008 audit report final

Nassau County Sewer and Storm Water Finance Authority Financial Statements as of and for the Years Ended December 31, 2008 and 2007, and Independent Auditors’ Reports NASSAU COUNTY SEWER AND STORM WATER FINANCE AUTHORITY TABLE OF CONTENTS Page INDEPENDENT AUDITOR’S REPORT 1–2 MANAGEMENT’S DISCUSSION AND ANALYSIS 3–5 BASIC FINANCIAL STATEMENTS: ENTITY-WIDE FINANCIAL STATEMENTS Statements of Net Assets as of December 31, 2008 and 2007 6 Statements of Activities for the Years Ended December 31, 2008 and 2007 7 GOVERNMENTAL FUNDS FINANCIAL STATEMENTS Balance Sheets as of December 31, 2008 and 2007 8–9 Statement of Revenues, Expenditures, and Changes in Fund Balance for the Years Ended December 31, 2008 and 2007 10–11 Reconciliation of the Balance Sheets to the Statements of Net Assets as of December 31, 2008 and 2007 12 Reconciliation of the Statements of Revenues, Expenditures, and Changes in Fund Balance of Governmental Funds to the Statements of Activities for the Years Ended December 31, 2008 and 2007 13 Notes to the Financial Statements 14–24 Independent Auditors’ Report on Internal Control Over Financial Reporting and Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards 25–26 Independent Auditors’ Report on Requirements Applicable to Investment Policies and Procedures 27INDEPENDENT AUDITORS’ REPORT To the Members of the ...