To the Board of Directors
Northern California Community Blood Bank.

We have audited the accompanying statement of financial position of Northern California Community Blood Bank as of June 30, 2005, and the related statements of activities, functional expenses and cash flows for the year then ended. These financial statements are the reponsibility of the Organization'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 required that we 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 Northern California Community Blood Bank., as of June 30, 2005, and the results of its operations and changes in financial position for the year then ended in conformity with accounting principles generally accepted in the United States of America.

 

Martin and Hutchison, CPAs
November 18, 2005

A Non-Profit Corporation
Statement of Financial Position
June 30, 2005

Assets
Current Assets
Cash	$736,067
Investments	1,770
Accounts Receivable	947,090
Inventories	300,556
Prepaid Expenses	41,387
Total Current Assets		$2,026,870
Land, Buildings, Improvements, and Equipment
Cost	2,359,372
Accumulated Depreciation	(927,442)
Net		1,431,930
Total Assets		$3,458,800 ------------

 

Liabilities and Net Assets
Current Liabilities
Accounts Payable	$232,674
Accrued Payroll and Payroll Taxes	56,598
Accrued Employee Benefits and Withholdings	7,876
Accrued Vacation	86,381
Deferred Rent Income	3,520
Total Current Liabilities		$387,049
Net Assets
Unrestricted - Beginning of Year	2,587,670
Change in Unrestricted Net Asset	484,081
Total Unrestricted Net Assets		3,071,751
Total Liabilities and Net Assets		$3,458,800 ------------

A Non-Profit Corporation
Statement of Activities
For the Year Ended June 30, 2005

Revenue and Support
Products and Services	$4,691,946
Donations	5,210
Customer Service Fees	12,539
Net Rental Income	37,033
Interest Income	8,029
Miscellaneous Income	2,674
Total Revenue and Support		$4,757,431

 

Functional Expenses
Direct Program Services	3,381,736
General and Administrative	891,614
Fund Raising	-
Total Functional Expenses		4,273,350
Change in Net Assets		$484,081 ----------

See Accompanying Notes