Part 1: Complete Assignment 6.1 on page 130 of the text using the following Excel template. The January and February data from the example on pages 124-5 and the class exercise on page 129 have already been entered. Scroll down on the worksheet to enter the March transactions. Check figure: Ending Cash = $60,000. Excel Template 6.1

Part 2: Go to the 2015 financial statements for OMSI (Oregon Museum of Science and Industry) and find the following figures for the year ended 5/31/2015.

• Fund-raising
• Bonds payable
• Payments on long-term debt
• Change in net assets
• Net assets
• Program portion (subtotal) of rentals

Part 3: Also using the OMSI financial statements, review each statement and comment on what each individual statement is saying about the financial health of the organization. Give specific and meaningful examples to support your opinions. Here are some things to look for:

• On the statement of financial position, what significant changes do you see between years? Look at the specific accounts and not just the Net Assets totals. What do each of these changes suggest and do you think this is good or bad? What more would you like to know?
• On the statement of activities, what changes do you see overall and with specific accounts from the prior year? Is this good or bad and what else would you like to know?
• On the statement of functional expenses, calculate and discuss the program expense ratio (see page 145 of text) compared to total expenses. Why is this important and how is OMSI doing compared to the textbook's recommendation? Do you have any concerns?
• On the statement of cash flows, focus on what is happening within each activity section of the statement (operating, investing and financing) and don't just focus on whether the cash balance went up or down overall. What do the changes within the category say about OMSI? The statement of cash flows always tells an interesting story. See if you can figure out how OMSI's reads!
• Don't forget to make an overall conclusion based on the above analysis.