July 2010 Newsletter from NJ Reefers Club Announcing the 2010 Frag Swap

The Board of Directors and NJRC Committees have been very busy in the last few months planning the our 4th Annual Frag Swap and planing for the installation of a new tank at NJAAS. We can always use extra help to get all of this important work completed.

Our group buy committee is always working hard at a thankless job. I'd like to thank all of those who helped with the Carbon\GFO buy. And thank those who are working on the AWI buy. We are currently working on our next buy for Glue/Bags/Frag Plugs-Disks July Buy from TB Aquatics. They will be offering us other products from the website at discounted prices (to be announced.)

The audit the 2009 Fiscal Year-end Financial of the Club was conducted at my house on Friday July 16 2010.
The audit was performed by NikkiT, Don (Tazmaniancowboy), and James (JRWOHLER). I'd like to quote JRWOHLER's discription of the audit as I think he wrote it very nicely.

"The audit was performed by Nikki, Don, and myself. The entire audit took approximately 3hrs not including time spent before and after the actual audit at Ed's house. I will briefly describe how the audit was done and our findings.
We divided the work into three different sections:

Don reviewed all account statements to insure all material was there in chronological order and matched the financial statements.

Nikki reviewed all the financial summaries to insure they were accurate.

I was responsible for doing the audit on all the entries. I checked that all entries were accounted for and properly documented. I used a random sampling process much like one that the Federal Reserve, NY State, or other auditor would use.
I did a minimum sample of 2 per page and probably a rough estimate of 3.5 per page of 35+ pages of entries.

As a group we requested contracts to be presented for a random sample of larger outlays.

The last action that we took was to complete a standardized checklist presented to act as a template for non professional auditors to use during a yearly financial audit.

We all then wrote a response for the audit, which is on file; which to summarize is that there were no discrepancies and that we approved the books for 2009.

I would like to thank Phil at this point for having kept immaculate books. We had total access to all online and written records.

I hope that everyone in the club is satisfied with the job that we performed; I personally felt we did a very professional job. I personally am involved on a regular basis with auditors from the Fed, NY State, and internal auditors both in house and from head office, Nikki of course you know is an outstanding lawyer, and Don provided us with a unbiased and hard working member.

We can try to answer any questions you may have about what we did. Please note this audit was for the year 2009 only and our job was to make sure that the Treasurer kept all the records accurately. We did not question the decisions of the board on why the spent money just that it was accurately accounted for.

Sincerely,
James Wohler"

If you have any questions or would like more information please feel free to email officers@njreefers.org or pm me.

Board of Directors
NJRC

Thank you!

Ed Wilkinson
NJRC President