2007 Audit firstsec

Lane Council of Governments Annual Financial Report For the Year Ended June 30, 2007 LANE COUNCIL OF GOVERNMENTS __________ ANNUAL FINANCIAL REPORT For the Year Ended June 30, 2007 LANE COUNCIL OF GOVERNMENTS TABLE OF CONTENTS __________ Page INTRODUCTORY SECTION Board of Directors i Organizational Chart ii Letter from the Executive Director iii FINANCIAL SECTION Independent Auditor's Report 1-2 Management’s Discussion and Analysis 3-11 Basic Financial Statements: Government-wide Financial Statements: Statement of Net Assets 12 ent of Activities 13 Fund Financial Statements: Balance Sheet – Governmental Funds 14-15 Reconciliation of the Balance Sheet – Governmental Funds to the Statement of Net Assets 16 Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds 17 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds to the Statement of Activities 18 Statement of Net Assets – Proprietary Funds 19 Statement of Revenues, Expenses, and Changes in Net Assets – Proprietary Funds 20 Statement of Cash Flows – Proprietary Funds 21-22 Statement of Fiduciary Net Assets – Fiduciary Funds 23 Notes to the Financial Statements 24-42 Other Statements, and Schedules: Combining Statement of ...