Foundation - 2nd Draft Audit Report

Victor Valley Community College District Foundation Report on Audit June 30, 2008 Victor Valley Community College District Foundation (A Non-Profit Organization) June 30, 2008 TABLE OF CONTENTS Page Independent Auditors’ Report……………………………………………………………………. 1 Financial Statements Statement of Financial Position… .………………………………………………………………….. 2 Statement of Activities……………………………………………………………………………… 3 Statement of Cash Flows….………………………………………………………………………… 5 Notes to Financial Statements ……………………………………………………………………... 6 Supplementary Information Schedule of Functional Expenses……………………………………………………………………. 12 INDEPENDENT AUDITORS’ REPORT February 27, 2008 The Board of Directors of Victor Valley Community College District Foundation Victorville, California We have audited the accompanying statement of financial position of Victor Valley Community College District Foundation (a non-profit organization), as of June 30, 2008, and the related statements of activities and cash flows for the year then ended. These financial statements are the responsibility of the Organization’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We ...