University of Oregon 2019 Annual Financial Report
M
VI
MOSSADAMS
Report of Independent Auditors
Members of the Board of Trustees
University of Oregon
Report on the Financial Statements
We have audited the accompanying financial statements of the University of Oregon ("UO"), and its
discretely presented component unit, the University of Oregon Foundation ("the Foundation"), as of
and for the years ended June 30, 2019 and 2018, and the related notes to the financial statements,
which collectively comprise the UO's basic financial statements as listed in the table of contents.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation, and maintenance of internal control relevant to the preparation
and fair presentation of financial statements that are free from material misstatement, whether due to
fraud or error.
Auditor's Responsibility
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 and the standards applicable to financial audits contained in Government Auditing
Standards, issued by the Comptroller General of the United States. Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free from material misstatement. The financial statements of the Foundation were not audited in
accordance with Government Auditing Standards.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures
in the financial statements. The procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. 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. Accordingly, we express no such opinion. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of
significant accounting estimates made by management, as well as evaluating the overall presentation
of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects, the
respective financial position of UO and its discretely presented component unit, as of June 30, 2019
and 2018, and the respective changes in financial position and, where applicable, cash flows thereof
for the years then ended in accordance with accounting principles generally accepted in the United
States of America.
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