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May 7, 1974

Auditor's Report

To the Members of the
Collere Facuities Federation

I have examined the statement of financial nosition of the
Collese Faculties Federation as of April 30, 1974 and the re-
lated statement of receipts and disbursements for the twelve
month period then ended. 'fy examination was made in accordance
with generally accepted auditing standards, and accordingly in-
cluded such tests of the accomtine records and such other aud-
itine procedures as I considered necessary in the circumstances.

In my opinion, the accompanying statement of financial
position and statement of receipts and disbursements present
fairly the financial position of the Collese Faculties Federation
as of April 39, 1974 and the results of its onerations for the
twelve months then ended, in conformity with ¢eenerally accepted
accounting principles applied on a basis consistent with that of
the preceding year.

 

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