United Way of Cascade County 2011 Audit

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Independent auditor and CPA Mike Diekhans performed United Way of Cascade County's annual audit. He reported to the board that United Way has good controls in place and a three-tiered checks and ballance to catch any errors. Revenue was up to $670,000, which is more than $30,000 than the previous year. Expenditures were down due to salary savings.

Statement of Position as of June 30, 2011

Assets:

Cash & cash equivalents	$220,784
Accounts receivable	$16,146
Interest receivable	$887
Pledges receivable	$276,688
Prepaid expenses	$3,729
Equipment	$30,791
Beneficial interest in perpetual trust	$49,832
Cash surrender value in life insurance policies	$61,258
Less accumulated depreciation	($25,175)
Total assets	$688,786

Liabilities & net assets:

Allocations payable	$377,086
Designations payable	$102,862
Payroll liabilities	$14,036
Capital lease	$0
Total liabilities	$493,983
Net assets	$194,803
Total liabilities & net assets	$688,786

Statement of activities for fiscal year ending June 30, 2011: