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TREASURER'S INTERIM REPORT TO THE MEMBERSHIP

Normally I would have reported to you on the 2006 budget year much earlier in 2007. The audit of SCB's 2006 books is only now being concluded. Final financial information will be available soon, but not soon enough to meet this newsletter's deadline.

The audit is taking longer than planned for several reasons, none of which reflect negatively on SCB's financial position, which continues to be sound. We have a new auditor and must organize our documentation to match their approach. This is the first year that we (and the auditors) must comply with new and more stringent accounting standards, including the California Non-profit Integrity Act -- almost all audits are taking longer. Also, SCB's operations and budget have not just grown but become more complex.

I will have a full report on 2006 in the February newsletter and also a draft report on SCB's financial position for 2007. Should you have any questions in the interim please do not hesitate to contact me at johnsd@pdx.edu.

David Johns

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