OCA 2013 Financial Audit completed, report now available
The independent audit of the Orthodox Church in America’s financial records for the year ending December 31, 2013 has been completed, according to Melanie Ringa, OCA Treasurer.
The report of the auditors, CapinCrouse LLP, is now available in PDF format on the OCA web site. [The prior auditors, Lambrides, Lamos, Taylor LLP, merged with CapinCrouse LLP in early 2013.]
“Once again, the OCA has been issued an unqualified or ‘clean’ audit opinion”, said Ms. Ringa. The unqualified opinion is the best type of report an auditee can receive from the external auditor.”
Ms. Ringa also noted that “the financial results for 2013 show total revenues of $2,327,744.00 and total operating expenses of $2,401,687.00, with a net deficit from operations of $73,943.00, prior to expenses/income from investments, annuities and All-American Council activities. After accounting for these items, the final result for 2013 was a deficit of $54,791.00.
“Our Statement of Financial Position shows total assets of $2,951,689.00, liabilities of $400,177.00, and net assets of $2,551,512.00,” she concluded.