To the Board
Friends of the Van Pelt Library

The Audit Committee consisting of Mary Marchaterre, Gail Mroz, and Amy Hughes met on Tuesday, August 24, 2004.  We reviewed the FY03 and FY04 income and expenses of the FVPL account with Terry Reynolds, treasurer.  We checked to see that appropriate documentation existed for all expenses and revenues.  We found that Terry Reynolds has kept excellent records.  We found no serious issues or omissions. 

The Committee could not review the inventory and reconciliation of blankets and note cards.  Terry Reynolds had maintained inventory records of cards and blankets when the items were under his control.  The blankets and cards have been moved several times over the past two years, and we are unaware of any inventory and reconciliation of them.  We recommend that an inventory and reconciliation be performed of the blankets and note cards when they are moved to a more permanent storage area.


Amy Hughes
for the FVPL
Audit Committee