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Story Archives: Living Well finances sound, audit says
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Living Well finances sound, audit says
Living Well Foundation's assets exceeded liabilities by $46.7 million at the close of the 2010 fiscal year, according to a recent audit of the organization's finances.
As of Dec. 31, the foundation posted $47,008,326 in assets and $339,451 in liabilities.
Additionally, the foundation's fund balance (total assets less total liabilities) increased by $68,321 during its fourth year of operation, of which $9,214 was reserved for prepaid expenses, according to the audit.
The audit was conducted by Luffey, Huffman, Ragsdale and Soignier, a Monroe CPA firm. It was released by the Legislative Auditor's Office March 23.
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