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Tenderloin Housing Clinic 2010 Audited Financials1

Tenderloin Housing Clinic 2010 Audited Financials1

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Published by Jeff Webb

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Published by: Jeff Webb on Apr 27, 2012
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07/10/2013

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TENDERLOINHOUSINGCLINIC,INCANDSUBSIDIARYCONSOLIDATEDFINANCIALSTATEMENTSANDINDEPENDENTAUDITORS'
REPORT
June30,2010
/'
 
TABLEOFCONTENTS
INDEPENDENTAUDITORS'REPORT3FINANCIALSTATEMENTSCONSOLIDATEDSTATEMENTOFFINANCIALPOSITION4CONSOLIDATEDSTATEMENTOFACTIVITIES5CONSOLIDATEDSTATEMENTOFFUNCTIONALEXPENSES
6
CONSOLIDATEDSTATEMENTOFCASHFLOWS
7
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS
8'
SUPPLEMENTARYINFORMATIONSCHEDULEOFEXPENDITURESOFFEDERALAWARDS19NOTETOSCHEDULEOFEXPENDITURESOFFEDERALAWARDS20INDEPENDENTAUDITORS'REPORTONINTERNALCONTROLOVERFINANCIALREPORTINGANDONCOMPLIANCEANDOTHERMATTERSBASEDONANAUDITOFFINANCIALSTATEMENTSPERFORMEDINACCORDANCEWITHGOVERNMENTAUDITINGSTANDARDS21INDEPENDENTAUDITORS'REPORTONCOMPLIANCEWITHREQUIREMENTSAPPLICABLETOEACHMAJORPROGRAMANDONINTERNALCONTROLOVERCOMPLIANCEINACCORDANCEWITHOMBCIRCULARA-I3323SCHEDULEOFFINDINGSANDQUESTIONEDCOSTS25SUMMARYSCHEDULEOFPRIORAUDITFINDINGS27
 
CcrririedPubhcAccountar-ts.~Advisors
INDEPENDENTAUDITORS'REPORTBoardofDirectorsTenderloinHousingClinic,Inc.andSubsidiaryWehaveauditedtheaccompanyingstatementoffinancialpositionofTenderloinHousingClinic,Inc.(anon-profitorganization)andSubsidiary(theOrganization)asofJune30,2010,andtherelatedconsolidatedstatementsofactivities,functionalexpensesandcashflowsfortheyearthenended.TheseconsolidatedfinancialstatementsaretheresponsibilityoftheOrganization.Ourresponsibilityistoexpressanopiniononthesefinancialstatementsbasedonouraudit..Weconductedour.auditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesofAmericaandthestandardsapplicabletofinancialauditscontainedin
GovernmentAuditingStandards,
issuedbytheComptrollerGeneraloftheUnitedStates.Thosestandardsrequirethatweplanandperformtheaudittoobtainreasonableassuranceaboutwhetherthefinancialstatementsarefreeofmaterialmisstatement.Anauditincludesexamining,onatestbasis,evidencesupportingtheamountsanddisclosuresinthefinancialstatements.Anauditalsoincludesassessingtheaccountingprinciplesusedandthesignificantestimatesmadebymanagement,aswellasevaluatingtheoverallfinancialstatementpresentation.Webelievethatourauditprovidesareasonablebasisforouropinion.InDecember2007,theOrganizationreceivedadonationofrealpropertythathasnotbeenrecordedinthefinancialstatements.Inouropinion,accountingprinciplesgenerallyacceptedintheUnitedStatesofAmericarequirethatsuchdonatedpropertyberecordedatitsfairvalue.Managementbelievesthatthefairvalueofthepropertyisnotmeasureableuntilfinalzoningisapproved(refertonoteK).Inouropinion,exceptfortheeffectsofnotrecordingrealestatereceivedbydonation,asdiscussedintheprecedingparagraph,thefinancialstatementsreferredtoabovepresentfairly,inallmaterialrespects,thefinancialpositionoftheOrganizationasofJune30,2010,andthechangesinitsnetassetsanditscashflowsfortheyearthenendedinconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.Inaccordancewith
GovernmentAuditingStandards,
wehavealsoissuedourreportdatedFebruary28,2011onourconsiderationoftheOrganization'sinternalcontroloverfinancialreportingandonourtestsofitscompliancewithcertainprovisionsoflaws,regulations,contracts,andgrantagreementsandothermatters.Thepurposeofthatreportistodescribethescopeofourtestingofinternalcontroloverfinancialreportingandcomplianceandtheresultsofthattesting,andnottoprovideanopiniononinternalcontroloverfinancialreportingoroncompliance.Thatreportisanintegralpartofanauditperformedinaccordancewith
GovernmentAuditingStandards
andshouldbeconsideredinassessingtheresultsofouraudit.OurauditwasconductedforthepurposeofforminganopiniononthebasicconsolidatedfinancialstatementsoftheOrganizationtakenasawhole.TheaccompanyingscheduleofexpendituresoffederalawardsfortheyearendedJune30,2010ispresentedforthepurposesofadditionalanalysisasrequiredbyU.S.OfficeofManagementandBudgetCircularA-133,
AuditsofStates,LocalGovernments,andNon-ProfitOrganizations,
andisnotarequiredpartofthebasicconsolidatedfinancialstatements.Suchinformationhasbeensubjectedtotheauditingproceduresappliedintheauditofthebasicfinancialstatementsand,inouropinion,isfairlystatedinallmaterialrespectsinrelationtothefinancialstatementstakenasawhole.SanFrancisco,CaliforniaFebruary28,2011
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