RD173 - Annual Report on the Audit of the Virginia Tobacco Settlement Fund


Executive Summary:
Our audit of the Virginia Tobacco Settlement Foundation for the year ended June 30, 2004, found:

• proper recording and reporting of transactions, in all material respects, in the Foundation’s accounting records and Commonwealth Accounting and Reporting System;

• no matters involving the internal control and its operation that we consider material weaknesses; and

• no instances of noncompliance or other matters that required reporting.