OEFFA and OEFFA Certification Board Meetings 10 October 2010 ...
OEFFA and OEFFA Certification Board Meetings 10 October 2010 ...
OEFFA and OEFFA Certification Board Meetings 10 October 2010 ...
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23<br />
Notes to the Financials dated August 31, 20<strong>10</strong><br />
1<br />
$65.612.45 represents the cleared balance in the Kemba checking account <strong>and</strong> corresponds to the actual bank balance.<br />
Numerous entries had to be entered into the accounting records in order to reconcile with Kemba statements. These<br />
have been completed through August 31, 20<strong>10</strong>, but many remain under investigation.<br />
2<br />
The Wells Fargo Mutual Fund has been adjusted for a net unrealized loss as of March 31, 20<strong>10</strong>. As of August 31, 20<strong>10</strong><br />
the account value is $14,267.21.<br />
3<br />
Please see the attached Schedule of Past Due Taxes. Prior period taxes paid are currently recorded<br />
Penalties <strong>and</strong> interest due on unpaid amounts were recorded as expenses for the reporting period<br />
ending March 31, 20<strong>10</strong>. These penalties are currently under appeal with the various taxing<br />
authorities. Any amounts forgiven will be recorded as income for this fiscal year.<br />
4<br />
Payroll liability has been accrued for payroll due on September 3, 20<strong>10</strong>.
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