southpark homeowners' association number 2 ... - Southpark HOA II

January 23, 2009INDEPENDENT AUDITOR'S REPORTTo the Board of Directors and MembersSouthpark Homeowners' Association Number 2Arapahoe County, ColoradoWe have audited the accompanying balance sheet of Southpark Homeowners'Association Number 2 as of December 31, 2008, and the related statements ofrevenues, expenses and changes in fund balance and cash flows for the year thenended. These financial statements are the responsibility of the Association'smanagement. Our responsibility is to express an opinion on these financial statementsbased on our audit.We conducted our audit in accordance with auditing standards generally accepted in theUnited States. Those standards require that we plan and perform the audit to obtainreasonable assurance about whether the financial statements are free of materialmisstatement. An audit includes examining, on a test basis, evidence supporting theamounts and disclosures in the financial statements. An audit also includes assessingthe accounting principles used and significant estimates made by management, as wellas evaluating the overall financial presentation. We believe that our audit provides areasonable basis for our opinion.In our opinion, the financial statements referred to above present fairly, in all materialrespects, the financial position of Southpark Homeowners' Association Number 2 as ofDecember 31, 2008, and the results of its operations and its cash flows for the yearthen ended in conformity with accounting principles generally accepted in the UnitedStates.The supplementary information on Future Major Repairs and Replacements on pages 11and 12 is not a required part of the basic financial statements but is supplementaryinformation required by the American Institute of Certified Public Accountants. I haveapplied certain limited procedures, which consisted principally of inquiries ofmanagement regarding the methods of measurement and presentation of thesupplementary information. However, we did not audit the information and express noopinion on it.Omeron and Associates, P.C.