AG 2001 08 20 - Laserfiche WebLink

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39 WinecoffAvenue, NW Post Office Box 551 Concord, NC 28026-055t WAYNE L. NICHOLS, P. A. Certified Public Accountant Phone: {?04) 786-5141 Fax: (704) 721-5877 The Board of Directors Poplar Ten~ Volunteer Fire Depar~aent, Inc. Concord, North Carolina I have audited the stat~nents of assets, liabilities, and fund balances - cash basis of Poplar Tent Volunteer Fire Depailment, Inc. (a non-profit corporation) as of Dec~ber 31, 2000 and 1999, and the related stat~raents of revenues, expenses, and changes in fund balances - cash basis for the years then ended. These financial statements are the responsibility of the Organization's Board of Directors. My responsibility is to express an opinion on these financial statements based on my audits. I conducted my audits in accordance with generally accepted auditing standards. Those standards require that I plan and perform my audit to obtain reasonable assurance about whether the financial statements are free of material misstat~nent. 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 the Board of Directors, as well as evaluating the overall financial stat~nent presentation. I believe that my audits provide a reasoDahle basis for my opinion. As described in Note 1, these financial statements are prepared on the cash basis of accounting, which is a c~orehensive basis of accounting other than generally accepted accounting principles. In my opinion, the financial stat~nents referred to above present fairly, in all material respects, the assets, liabilities, and fund balances of Poplar Tent Volunteer Fire Department, Inc. as of December 31, 2000 and 1999, and the results of its revenues, expenses, and the changes in its fund balances for the years then ended, on the basis of accounting des- cribed in Note 1. The accompanying financial statements have been prepared assuming that the Organization will continue as a going concern. As discussed in Note 5 to the financial statements, the Organization's contrac% with City of Concord has expired. This condition creates substantial doubt about the Organization's ability to continue as a going concern. The Board of Directors' plans regarding this matter are also described in Note 5. The financial statements do not include any adjus~nents that might result frcm the outccxne of this uncertainty. February 16, 2001