The Southwestern Historical Quarterly, Volume 103, July 1999 - April, 2000 Page: 129

Affairs of the Association
Financial Report
SPROUSE AND WINN, L.L.P.
Accountants and Consultants
To the Members
Texas State Historical Association
Independent Auditors' Report
We have audited the accompanying statement of financial position of the
Texas State Historical Association as of August 31, 1998, and the related state-
ments of activities and cash flows for the year then ended. This financial state-
ment is the responsibility of the Association's management. Our responsibility is
to express an opinion on the financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing stan-
dards. Those standards require that we plan and 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 man-
agement, 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 the Texas State Historical Association
as of August 31, 1998, and the results of its activities and its cash flows for the
year then ended, in conformity with generally accepted accounting principles.
Austin, Texas
December 2, 1998