MUNICIPAL EMPLOYEES’ BENEFIT TRUST
Financial Statements and Independent Auditors’ Report
December 31, 2009 and 2008
Table of Contents
Page
Independent Auditors’ Report
1
Financial Statements:
Statements of Net Assets Available for Benefits
2
Statements of Changes in Net Assets Available for Benefits
3
Notes to Financial Statements
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10900 NE 4th Street
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Bellevue WA 98004
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800 504 8747
clarknuber.com
Certified Public
Accountants
and Consultants
Independent Auditors’ Report
Cities’ Municipal Employees’ Benefit Trust Committee
Municipal Employees’ Benefit Trust
Bellevue, Washington
We have audited the accompanying statements of net assets available for benefits of the Municipal
Employees’ Benefit Trust (the Trust) as of December 31, 2009 and 2008, and the related statements of
changes in net assets available for benefits for the years then ended. These financial statements are the
responsibility of the Cities’ Municipal Employees’ Benefit Trust Committee. 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. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes consideration of
internal control over financial reporting as a basis for designing audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s
internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by management, as well as
evaluating the over