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V <br /> 1 <br /> Morgan * Jacob Thum • Boyle <br /> lulj & Associates , P.A. <br /> Certified Public Accountants <br /> Independent Auditors ' Report <br /> The Board of Directors <br /> Homeless Assistance Center, Inc . : <br /> We have audited the accompanying statement of financial position of the Homeless Assistance <br /> Center, Inc . , as of June 30 , 2002 , and the related statements of activities and cash flows for the <br /> year then ended . These financial statements are the responsibility of the Organization ' s <br /> management. Our responsibility is to express an opinion on these financial statements based on <br /> our audit. <br /> We conducted our audit in accordance with auditing standards generally accepted in the United <br /> States of America. Those standards require that we plan and perform the audit to obtain <br /> reasonable assurance about whether the financial statements are free of material misstatement. <br /> An audit includes examining, on a test basis , evidence supporting the amounts and disclosures in <br /> the financial statements . An audit also includes assessing the accounting principles used and <br /> significant estimates made by management, as well as evaluating the overall financial statement <br /> presentation. We believe that our audit provides a reasonable basis for our opinion . <br /> In our opinion, the financial statements referred to above present fairly, in all material respects , <br /> the financial position of the Homeless Assistance Center, Inc. as of June 30 , 2002 , and the <br /> changes in its net assets and its cash flows for the year then ended in conformity with accounting <br /> principles generally accepted in the United States of America. <br /> The financial statements include certain prior-year summarized comparative information in total <br /> but not by net asset class . Such information does not include sufficient detail to constitute a <br /> presentation in conformity with generally accepted accounting principles . Accordingly, such <br /> information should be read in conjunction with the Organization ' s financial statements for the <br /> year ended June 30 , 2001 , from which the summarized information was derived. <br /> MORE; spy, 7RN l59>y� <br /> September 12 , 2002 , <br /> except for note 11 , <br /> as to which the date is <br /> September 19 , 2002 <br /> 700 - 20th Street • Vero Beach, Florida 32960 • Phone 561 - 562 -4158 • Telefax 561 - 563 -2024 <br />