My confidence in SAG’s financial leadership team is no secret — I’ve expressed it regularly in these letters and to the Board of Directors. But if there was any skepticism about whether it was warranted, that doubt should be dispelled by the financial results for the fiscal year that closed on April 30, 2010.
First, SAG received the best possible report — an “unqualified opinion” — from auditors Price-waterhouseCoopers for our 2010 Financial Statements. This opinion, the equivalent of an A+, reflects the fact that the auditors found no discrepancies, deficiencies or weaknesses in our internal controls, encountered no difficulties in performing the audit, and offered no adjustments to the statements or recommendations for changes in our financial practices. In other words, we can trust that our finance staff is skilled, honest and extremely thorough in their management of our resources.