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Financial Reports & Filings of the Turrell Fund The Turrell Fund's IRS Form 990-PF and financial statements are available for viewing in Adobe Acrobat (PDF) format requiring the use of Adobe's Acrobat Reader, which can be downloaded free of charge from the Adobe web site. View the Turrell Fund's 2007 Form 990-PF
View the Turrell Fund's 2008 Financial Statements
Below is the text of the Auditor's Letter to the Board of Directors of the Turrell Fund
We have audited the accompanying statements of financial position – modified cash basis of the Turrell Fund as of December 31, 2008 and 2007 and the related statements of activities and cash flows – modified cash basis for the years then ended. These financial statements are the responsibility of the Turrell Fund’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 consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Turrell Fund’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, 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. As described in Note 2, these financial statements were prepared on a modified cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Turrell Fund as of December 31, 2008 and 2007 and the changes in its nets assets and its cash flows for the years then ended, in conformity with the basis of accounting described in Note 2 to the financial statements.
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