Page 113 - Aug 2019 BOG Book_Neat

Exhibit D
(Continued)

Note 16 - PRIOR PERIOD ADJUSTMENT

During the year ended June 30, 2018, it was determined that net assets of the consolidated
affiliates, unless permanently restricted, are more properly presented in the consolidated
financial statements as temporarily restricted net assets, rather than as unrestricted net
assets, since they are restricted for use by those affiliates. A prior period adjustment was
made to reclassify net assets of JLAP and LCLCE previously reported as unrestricted and
present them as temporarily restricted as of June 30, 2017, as follows:

2017
Temporarily Permanently
Unrestricted Restricted Restricted Totals

Net Assets:
Net assets, as
previously reported $ 9,793,281 $ 2,340,364 $30,660 $ 12,164,305
Reclassification (392,075) 392,075 - -

Net assets, as restated $ 9,401,206 $ 2,732,439 $30,660 $ 12,164,305

Cash and Cash Equivalents:
Beginning of year, as
previously reported $ 3,162,835 $ 1,935,722 $ 11,501 $ 5,110,058
Reclassification (380,471) 380,471 - -

Beginning of year, as
restated $ 2,782,364 $ 2,316,193 $ 11,501 $ 5,110,058

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