Office of the Legislative Auditor - Financial Audit Division

Report Summary
State Agricultural Society

Financial Audit

For the Year Ended October 31, 1994

Objectives:

Examine the society's financial statements.

Review internal control structure: Ticket sales, space rental revenues, cash and cash equivalents, fixed asset inventories and depreciation, administrative expenses and payables, and employee payroll.

Test compliance with certain finance-related legal provisions.

Conclusions:

We will issue our opinion of the financial statements in the society's annual report.

We found no weaknesses in the internal control structure.

We found no departures from finance-related legal provisions.