OHIO HIGH SCHOOL ATHLETIC ASSOCIATION Columbus, …

OHIO HIGH SCHOOL ATHLETIC ASSOCIATION Columbus, Ohio

Financial Statements For the years ended July 31, 2019 and 2018 and Independent Auditors' Report Thereon



C O N T E N T S

INDEPENDENT AUDITORS' REPORT

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FINANCIAL STATEMENTS

Statements of Financial Position, July 31, 2019 and 2018

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Statements of Activities and Change in Net Assets for the years ended July 31, 2019 and 2018 4

Statements of Functional Expenses for the year ended July 31, 2019 and 2018

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Statements of Cash Flows for the years ended July 31, 2019 and 2018

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Notes to Financial Statements

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INDEPENDENT AUDITORS' REPORT

Board of Directors Ohio High School Athletic Association Columbus, Ohio

Report on the Financial Statements

We have audited the accompanying financial statements of the Ohio High School Athletic Association (the Association), which comprise the statements of financial position as of July 31, 2019 and 2018 and the related statements of activities and change in net assets, functional expenses, and cash flows for the years then ended, and the related notes to the financial statements.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

Schneider Downs & Co., Inc.

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One PPG Place Suite 1700 Pittsburgh, PA 15222 TEL 412.261.3644 FAX 412.261.4876

65 E. State Street Suite 2000 Columbus, OH 43215 TEL 614.621.4060 FAX 614.621.4062

1660 International Drive Suite 600 McLean, VA 21102 TEL 571.380.9003

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Association as of July 31, 2019 and 2018, and the change in its net assets, functional expenses, and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. We did not subject management's discussion and analysis to the auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion or any other assurance on it.

Schneider Downs & Co., Inc.

Columbus, Ohio July 17, 2020

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OHIO HIGH SCHOOL ATHLETIC ASSOCIATION STATEMENTS OF FINANCIAL POSITION

CURRENT ASSETS Cash and cash equivalents Accounts receivable Prepaid expenses Short-term investments

Total Current Assets

LONG-TERM ASSETS Investments - building fund Pension asset Property and equipment, net

Total Assets

CURRENT LIABILITIES Current portion of long-term debt Accounts payable Accrued employee wages and benefits Deferred income

Total Current Liabilities

LONG-TERM LIABILITIES Long-term debt Long-term accrued leave

Total Liabilities

NET ASSETS Without donor restrictions: Board-designated funds:

Building fund Fred Durkle Scholarship Rossi/Denney Scholarship Reserve fund

Total Board-Designated Funds Undesignated

Total Net Assets

Total Liabilities And Net Assets

See accompanying notes to the financial statements.

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July 31

2019

2018

$ 5,241,528 657,240 215,332

1,195,746 7,309,846

$ 4,464,924 620,686 234,193

1,162,261 6,482,064

364,388 225,727 1,398,263

$ 9,298,224

355,271 927,094 1,442,736

$ 9,207,165

$ 100,000 791,474 349,466

1,391,210 2,632,150

$ 100,000 476,889 311,822 973,414

1,862,125

50,000 70,135 2,752,285

150,000 105,203 2,117,328

364,388 52,238 52,250 808,302 1,277,178 5,268,761 6,545,939

$ 9,298,224

355,271 50,000 50,000 693,767 1,149,038 5,940,799 7,089,837

$ 9,207,165

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