January 30, 2005

Independent Audit of Association's 2003-04 Fiscal Year Released
Report Praises Sound Fiscal Performance, Solid Management

The Utah Youth Soccer Association is pleased to release the results from the independent audit of its 2003-04 fiscal year. The audit report, which was prepared Stephen K. Adamson, C.P.A., of the firm of Smith & Adamson, reviewed the Association's financial statements, activities, and cash flow between September 1, 2003 and August 31, 2004.

The independent audit verified that the Association ended its 2003-04 fiscal year with an increase of $8,354 in net assets and that the Association's assets and cash flows for the year ended in conformity with generally accepted accounting principles. The audit also gave positive marks to improvements in the Association's financial management and internal controls. A copy of the report is available on the Finances page of this website.

"This audit report confirms that the Association has turned the corner," said UYSA President Paul C. Burke. "This independent audit confirms that the Association has achieved financial stability, and it praises the competence of the Association's current management. I congratulate the Association's professional staff, particularly Executive Director Scott Harward, and the Board of Directors, especially Treasurer Rick Henage, for their diligence and successful stewardship of the Association's finances."