The Muskingum County Community Foundation and Affiliates

26 August 7, 2020 To the Board of Trustees The Muskingum County Community Foundation and Affiliates Zanesville, Ohio INDEPENDENT AUDITOR’S REPORT Report on the Financial Statements We have audited the accompanying consolidated financial statements of The Muskingum County Community Foundation and Affiliates (collectively, the “Foundation”) which comprise the consolidated statements of financial pos. [...] In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. [...] Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of The Muskingum County Community Foundation and Affiliates as of December 31, 2019 and 2018, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. [...] The information has been subjected to the auditing procedures applied in the audits 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. [...] The Foundation then uses pledges received by the Fund to repay the refundable advance in accordance with the payment terms of the promissory note the Friends of Sulsberger Stadium, Inc.