Cash Flows

SAMPLE ASSOCIATION, INC.

MINNEAPOLIS, MINNESOTA

INDEPENDENT AUDITOR'S REPORT
AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2007


SAMPLE ASSOCIATION, INC.

FOR THE YEAR ENDED DECEMBER 31, 2007

CONTENTS

PAGE

INDEPENDENT AUDITOR’S REPORT 1

FINANCIAL STATEMENTS

Balance Sheet 2

Statement of Revenue, Expenses and
Changes in Fund Balance 3

Statement of Cash Flows 4

Notes to Financial Statements 5



INDEPENDENT AUDITOR'S REPORT

To the Board of Directors
Sample Association, Inc.
Minneapolis, Minnesota

We have audited the accompanying balance sheet of Sample Association, Inc. as of December 31, 2007, and the related statements of revenues, expenses, and changes in fund balance and cash flows for the year then ended.   These financial statements are the responsibility of the Association's management.   Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the United States of America.   Those standards require that we plan and perform the audit 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 management, as well as evaluating the overall financial statement presentation.   We believe that our audit provides 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 Sample Association, Inc. as of December 31, 2007, and the results of its operations and it’s cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

The...