JUNE 30, 2002
iii
A UD ITED FINA N CIA L STA TEM E N TS
C:3
OF
N
F O RE VER O UR CH ILD RE N ,IN C.A F TE R SCH O OL TU TORIA L PR O GRA M
AS OF AND FOR
JUNE 30,2002
1340 PoydrasStreet ~ Suite2130 ~ N ew Orleans,LA ~ 70112 Phone:504-561-1111 ~ Fax:504-561-1114
Forever O ur C hildren,Inc.-A fter SchoolT utorialProgram T able ofC ontents
IndependentA uditor'sReport
Statem entofFinancialPosition
Statem entofA ctivities
Statem entofC ash Flow s
N otesto the FinancialStatem ents
IndependentA uditor'sReportO n Internal Com pliance and Intern alC ontrolO verFinancial R eporting B ased O n A n A uditO fFinancialStatem ents Perform ed In A ccordance W ith G overnm ent A ud iting Standards
ScheduleofFindingsand Q uestioned Costs
StatusofPriorY earA uditFindings
Page 1 2 3 4
. 5-8
. 9-10
11-12 13
C H A R M A IN E PH IL IPS PLA TE N B U R G Certifi edPublicAccountant
IN D EPEN D E N T A U D IT O R 'S R EPO R T
To the Board ofD irectors ForeverO urC hildren,Inc.-A fterSchoolTutorialProgram
I have audited the accom panying statem entof financialposition of Forever O ur Children,Inc.-
After SchoolTutorialProgram (a non-profitcorporation) as ofJune 30,2002 and the related
statem entsofactivitiesand cash flow sforthe fiscalyearthen ended. These financialstatem entsare the responsibility of Forever O ur C hildren,Inc.- A fter School Tutorial Program 's m anagem ent. M y responsibility isto expressan opinion on these financialstatem entsbased on m y audit.
Iconducted m y auditin accordance w ith generally accepted auditing standardsin the U nited States of A m erica and the standards applicable to financial audits contained in G overnm ent A uditing Standards,issued by the Com ptrollerG eneralofthe U nited States. Those standards require thatI plan and perform the auditto obtain reasonable assurance aboutw hetherthe financial statem entsare free ofm aterialm isstatem ent. A n auditincludesexam ining,on a testbasis,evidence supporting the am ounts and disclosures in the financial statem ents. A n audit also includes assessing the accounting principlesused and the significantestim atesm ade by m anagem ent,asw ellaseval uating the overallfinancialstatem entpresentation. Ibelieve thatm y auditprovides a reasonable basisfor m y opm ton
In m y opinion,the financialstatem entsreferred to above presentfairly,in allm aterialrespects,the financialposition ofForever O ur Children,Inc.- A fter SchoolTutorialProgram as of June 30, 2002,and the changesin itsnetassetsand itscash flow sforthe fiscalyearthen ended in conform ity w ith the accounting principlesgenerally accepted in the U nited StatesofA m erica.
In accordance w ith G overnm entA uditing Standards,Ihave al so issued m y reportdated O ctober 15, 2002 on m y consideration ofForeverO urChildren,Inc.-A fterSchoolTutorialProgram 's internal control over financial reporting and m y test of its com pliance w ith certain provisions of law s, regulations,contractsand grants.Thatreportisan integralpartofan auditperform ed in accordance
with GovernmentAuditing Standards and should be read in conjunction with this report in
considering the resultsofm y audit.
Charm aine PhilipsPlatenburg,C PA
N ew O rleans,LA O ctober 15,2002
134o PoydrasStreet ~ Suite 2130 * N ew O rleans,LA ~ 70112 Phone:504-561-1111 ~ Fax:504-561-1114
FO R EV ER O U R C H ILD R EN ,IN C . A FTER SC H O O L TU T O R IA L PR O G RA M
Statem entofFinancialPosition
AsofJune30,2002
A ssets CurrentA ssets:
Cash and Cash Equivalents Prepaid Expenses
TotalCurentA ssets
Fixed A ssets Equipm ent Less:A ccum ulated D epreciation
TotalFixed A ssets
TotalA ssets
Liabilities & N etA ssets CurentLiabilities:
A ccountsPayable PayrollT axesPayable Line ofCredit D efered R evenue
T otalL iabilities
N etA ssets: U nrestricted
TotalNetA ssets
TotalLiabilities& N etA ssets
2,085 4.922 7.007
16,330
(16,330)
7.007
1,024 2,740
150 2.718 6.632
375 375 7.007
SeeAccom panyingAuditor'sReportand Notes.
2
FO REV ER O UR CH ILDR EN ,IN C. AFTER SC H O O L TUTO RIAL PR O G RAM
Statem entofA ctivities FortheYearEnded June30,2002
R eYenues'. C ontractA ppropriations N etA ssetsreleased from restrictions O therIncom e
T otalR evenues
E xpenses: Salaries C ontractualServices R ent Security JanitorialExpenses Insurance Program A ctivities PayrollTaxes
Telephone A ccounting D epreciation Expense A uditor M aintenance-Equipment
M ileage Sem inars& Training Food Supplies W orkm en'sCom pensation O ffice Supplies InterestExpense Postage LegalExpenses M iscellaneous InstructionalM aterials
TotalExpense
D ecreasein N etA ssets
N etA ssets,Beginning Balance
N etA ssets,Ending Balance
U nrestricted
171,000 1.405
172,405
T em porarily R estricted
T otal
171,000 $ 171,000
(171,000)
1.405
172,405
76,970 19,705 18,050 10,974 6,499 6,106 5,861 5,799 5,468 4,400
2,534 2,200 1,808 1,500 1,000
980 800 593 544 512 2OO 150 110
172,763
(358)
733
375
76,970 19,705 18,050 10,974 6,499 6,106 5,861 5,799 5,468 4,400
2,534 2,200 1,808 1,500 1,0O 0
98O 80O 593 544 512 200 150 110
172,763
(358)
733
375
SeeAccom panyingA uditor'sReportand Notes.
3
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