4o8 Bird - Lore 



JOHN H. KOCH & COMPANY, Certified Public Accountants 

 55 Liberty Street, New York 



October 21, 1921. 

 The Audit Committee, 



National Association of Audubon Societies, Inc., 

 1974 Broadway, New York, N. Y. 



Gentlemen: — We have completed our customary examination of the books, 

 accounts, and records of The National Association of Audubon Societies, Inc., 

 for the year ended October 19, 192 1, and present herewith the following 

 Exhibits together with our comments thereon : 



Exhibit A — Balance Sheet as at the close of business, October 19, 1921. 

 Exhibit B — Income and Expense Account, General Fund. 

 Exhibit C— Income and Expense Statement, Egret Protection Fund. 

 Exhibit D — Income and Expense Statement, Children's Educational Fund. 

 Exhibit E — Income and Expense Statement, Department of Applied 



Ornithology. 

 Exhibit F — Income and Expense Statement, Fund for National Parks' 



Defense. 

 Exhibit G — Statement ot Cash Receipts and Dtsbursements. 



All disbursements made on account of your various funds were substantiated 

 either by duly approved and receipted vouchers or cancelled endorsed checks. 



We examined all investment securities held at your safe deposit vault and 

 found them to be in order. 



Confirmations were received from your depositories, certifying to the 

 balances as shown on your books. 



Submitting the foregoing, we are. Very truly yours, 



JOHN H. KOCH & CO., 



Certified Public Accountants. 



