The Southwestern Historical Quarterly, Volume 106, July 2002 - April, 2003 Page: 161

Affairs of the Association
Financial Report
SPROUSE AND WINN, L.L.P.
Accountants and Consultants
To the Members
Texas State Historical Association
Independent Auditors' Report
We have audited the accompanying statements of financial position of the
Texas State Historical Association (Association) as of August 31, 2ool, and the
related statements of activities and cash flows for the years then ended. These fi-
nancial statements are the responsibility of the Association's management. Our
responsibility is to express an opinion on the financial statements based on our
audits.
We conducted our audits in accordance with generally accepted auditing stan-
dards. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by man-
agement, as well as evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of the Association as of August 31, 2001,
and the results of its activities and its cash flows for the year then ended, in con-
formity with generally accepted accounting principles.
December 21, 2001