Techniques Jan 2013 - 53

2012 ANNUAL REP ORT TO MEMBERS

INDEPENDENT AUDITORS’ REPORT Board of Directors Association for Career and Technical Education Alexandria, Virginia

We have audited the accompanying statements of financial position of the Association for Career and Technical Education (ACTE) as of June 30, 2012 and 2011, and the related statements of activities, functional expenses, and cash flows for the years then ended. These financial statements are the responsibility of ACTE's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of ACTE as of June 30, 2012 and 2011 and the changes in its net assets and cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The accompanying supplementary schedules of unrestricted board-designated net assets and schedules of temporarily restricted net assets shown on pages 19 – 22 is presented for purposes of additional analysis and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole.

DeLeon & Stang

DeLeon & Stang, CPAs Gaithersburg, Maryland September 6, 2012

This published version of the auditor's report constitutes only a summary of the complete report. Full reports are available upon request.

www.acteonline.org

January 2013

Techniques

Techniques Jan 2013

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