The Southwestern Historical Quarterly, Volume 75, July 1971 - April, 1972 Page: 405

Affairs of the Association:
Financial Report
Report of Independent Certified Public Accountant
To the Executive Council September 24, 1971
Texas State Historical Association
Gentlemen:
In accordance with instructions received, I have prepared the fol-
lowing statements from the records of the Texas State Historical
Association:
Exhibit Title
I Comparative Statement of Assets and Liabilities (as of August 3x,
197o, and August 31, 1971).
II Statement of Cash Receipts and Disbursements (Revenues and
Expenses)-General Fund (for seven months ending August
31, 197o, and twelve months ending August 31, 1971).
III Statements of Cash Receipts and Disbursements (Revenues and Ex-
penses)-Publication Fund (for seven months ending August 31,
197o, and twelve months ending August 31, 1971).
IV Statement of Cash Receipts and Disbursements (Revenues and Ex-
penses)-Miscellaneous Funds (for seven months ending August
31, 1970, and twelve months ending August 31, 1971).
V Schedule of Investments-Publication, Tullis, and Carroll Award
Funds (as of August 31, 1971).
VI Schedule of Dividends and Interest-Publication, 'Tullis, and Car-
roll Award Funds (for twelve months ending August 31, 1971).
These statements were prepared on a cash basis. However, as in
prior years, the statement of financial position includes Association
and interfund receivables and payables. The statements for the
seven-month period ending August 31, 1970, are presented for com-
parative purposes only.
My examination was made in accordance with generally accepted
auditing standards and accordingly included such tests of the account-
ing records and other auditing procedures as I considered necessary in
the circumstances, except as noted in the following paragraph.
Because of the nature of cash receipts, my examination of receipts
was limited to recorded cash receipts deposited in banks.
In my opinion, subject to the comment in the preceding paragraph,