HomeMy WebLinkAbout1004 - AUTHORIZING the issuance of development revenue bonds for the Rocky Mountain Healing Arts InsRESOLUTION NO. 06 - 1004
RESOLUTION OF THE BOULDER CITY COUNCIL
CONCERNING THE ISSUANCE OF TAX-EXEMPT
DEVELOPMENT REVENiJE BONDS BY THE COUNTY OF
BOULDER, COLORADO OR OTHER APPROPRIATE ISSUING
AUTHORITY FOR THE ROCKY. MOUNTAIN HEALING ARTS
INSTITUTE, D/B/A BOULDER COLLEGE OF MASSAGE
THERAPY
WHEREAS, the Rocky Mountain Healing Arts Institute, d/b/a Boulder College of
Massage Therapy (the "College") will request the County of Boulder, Colorado (the "County")
or another appropriate issuing authority to issue up to $5,000,000 in principal amount of the
County's Development Revenue Bonds (Rocky Mountain Healing Arts Institute, d/b/a Boulder
College of Massage Therapy Project) Series 2006 (the "Bonds") putsuant to the laws of the State
of Colorado (the "State"), to provide said applicant with funds to finance the acquisition of the
College's facilities (the "Facilities") located at 6255 I,ongbow Drive, Boulder, Colorado 80301,
fund a debt service reserve fund and pay the costs of issuance of the Bonds (the "Project"); and
WHEREAS, the proposed Project will promote industry and, develop trade or other
economic activity within the City of Boulder, Colorado (the "City") by inducing nonprofit
corporations to locate, expand or remain in the City, and will promote employment and the
maintenance of a balanced and stable economy in the City, thereby promoting the public health,
welfare, safety, convenience and prosperity; and
Wf~EREAS, nothing contained in this resolution shall constitute a debt, indebtedness or
multiple fiscal year obligation of the City within the meaning of the State ConstituUon or the
City's Home Rule Charter, nor give rise to a pecuniary liability of the City or a charge against its
general credit or taxing powers; and
WIIEREAS, the College will undertake to fully comply with a11 applicable zoning and
development regulations and policies;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City endorses the
Project and recommends that the Boazd of County Commissioners of the County or other
appmpriate issuing authority issue up to $5,000,000 of the Bonds pursuant to the County and
Municipality Development Revenue Bond Act, Article 3 of Title 29, Colorado Revised Statutes,
as amended and the Supplemental Public Securities Act, Article 57 of Title 11, Colorado Revised
Statutes, as amended, to finance the Project;
BE IT FURTHER RESOLVED, that a copy of this resolution be fonvarded to the Board
of County Commissioners of the County or other appropriate issuing authority and the College
by'tti'e Clerk ofthe City. '
PASSED AND ADOPTED THIS 3RD DAY OF OCTOBER, 2006.
CITY OF BOULDER, COLORADO
By:
Mayor
Attest:
By
City Clerk
Approved as to Form:
By
City Attorney
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APPLICATION TO
BOULDER COUNTY
for
Boulder College of Massage Therapy
IDRB $4,625,000
Presented by
Russ Ca[dwell, D.A. Davidson & Co.
Fred Marienthal, Rutak Rock, LLP
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Boulder College of Massage Therapy
Table of Contents
Application
Bond Schedules ................................................................................ I
Board of Directors ........................................................................... II
Financial Assistance and Educational Program Offerings ............III
Audited Financials - 2003-2005 ...................................................IV
Enclosed Loosely ........................................................ Site Plan/Map
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~ Memo
D.A. Davidson & C~.
membar SIPC
, To: Larry Hoyt
P
ri
h
Margaret
a
s
Matt Hogan
' Fred Marienthal
Jan Combs
' Stan Guralnick
David Rinehart
Trustee
,
, From: Russ Caldwell
Date: August 24, 2006
' Re: IDRB Inducement - Boulder College of Massage Therapy
' Attached are copies of the application from the Boulder College of Massage
Therapy for an IDRB Inducement. The bonds will be used to purchase the
' College's existing facilities at 6255 Longbow Drive, Boulder, Colorado. As the
project is ]ocated in the City of Boulder, Fred Marienthal will contact the City of
Boulder to gain their consent.
' We request the adoption of the Inducement at the County's business meeting on
~ August 31, 2006. We expect the transaction to close between September 29 and
October 10, as it is a fairly straightforward transaction not involving new
construction. Fred Marienthal will circulate the Inducement Resolution for the
~ County's consideration.
For the Inducement, we request the following parameters:
' Par Amount $4,650,000
Not to Exceed Rate 7.25%
' Term 30 Years
This will be a limited public offering in $100,000 denominations and initially sold
' to accredited investors. The County application and related documents are
attached.
' D.A. Davidson & Co.
1600 Broadway, Suite 1100 • Demer, Colorado 80202-4922 •(303) 764-6000 • Fax (303) 764-5770
www.dadevidson.com
' member SIPC
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, County Application Requirements
' 1) City of Boulder Consent.
, This is being coordinated by Fred Marienthal.
2) Payment of Fee.
' $4,650,000 Par
x .0025
' $11,625
' 3) Site Information.
A foldout map of "Lot 1, Longbow Park located in the N'/~ of the SE'/ of
' Section 10, T1N, R70W, 6`h P.M. Boulder" is included. The building
layout is depicted on the site plan.
' 4) A legal opinion from bond counsel stating the project falls within the
intent of the Colorado IDRB Act. Fred Marienthal will provide this to
' Larry Hoyt.
5) Evidence of the Underwriter's Qualifications.
' D.A. Davidson is one of the top 30 investment banks in the nation. Russ
Caldwell, Senior Vice President is a known quantity to the County. The
' bonds will be sold to accredited investors.
6) A written history of the Applicant.
' The College has been in existence for 31 years and has become
recognized as one of the leading institutions in the world in the area of
' massage therapy. Uniike smaller institutions in the U.S. market, about
50% of its students are from other countries. The College is fully
accredited and offers an Associate's degree upon completion of 1,000
' credit hours of work. See Tab 3 for Educational Program Offerings.
' 7) Historical Financials of the Applicant. See Tab 4.
8) An estimated bond payment schedule. See Tab l.
' 9) Evidence of ability to repay obligation.
The net bond payments will be less than the current lease payments on
' the building. The College has net assets of approximately $800,000.
This is being sent by Jan Combs to Margaret Parish.
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10) Projections of Cash Flows for debt service.
The College has had fluctuating enrollment and expects to achieve
between l 80 and 200 students in the future. This typical enrollment at
roughly $12,000 in tuition will generate debt service coverage as follows:
Enrollment
Revenue
Operations
Debt Payment
Excess Revenue
Coverage
Tvnical Year
^ 190
$2,800,000
$2,360,000
$350,000
$90,000
1.25x
11) Resumes of Key Employees of the Applicant.
` Jan Combs is finishing her third year as President of the College. She
has over 20 years in upper level management at not-for-profit and
, educationa] organizations. Previously, she served as CFO for the College
and 14 years as CFO for not-for-profits. She has a B.S. in Education
from Eastern Illinois University. The College has an active Board of
' Directors. The Board members have backgrounds in education, business
and local government. See Tab 2.
' 12) Applicant's Financial Statements. See Tab 4.
t 13) A description of the assets to be purchased.
The property consists of a two-story building totaling approximately
' 30,000 square feet. The lot, including parking, is approximately 3 acres.
(See site plan/map enclosed). The building was built in 1979.
' 14) Legal Opinion as required by Resolution 80-13.
To be provided by Fred Marienthal.
' 15) A partnership agreement, if one exists.
The College is a 501(c)3 educational entity.
' 16) Asset Documentation.
' The bonds will be secured by a first mortgage on the land and
improvements and a Net Revenue Pledge from the College.
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D.A. Davidson & Ca.
Boulder College of Massnge Therapy
I3uulder Coury IDRD, Series 2006
Sources & Uses
Dated 10I15/2006
Delivered 1020/2006
Sources Of Funds
Per Amounl of Bonds $4,625,000.00
Accrued Inleresi $4,335.94
Toml Sourcd Sd,629,335.9J
Uses Of Funds
Prqect Cone W ction Fund $4,000,000.00
Pny-off of Oulslending Loan $80,000,00
Accruedlnterest 54,335.94
Debt Smice Reserve Fund 5366,437.50
UnderwrilingFee 1.85% 585,562.50
Local Counsel $10,000.00
Legal and OfYicial Statemrnt 537,750.00
IssuerFee 0.25~ 511,562.50
Printing nnd Regulalary 54,000.00
Trus[ee $4,250.00
Phnae I and Appreisal 510,000.00
Titlelnmrance $I5,000.00
M~ecelieneoue 5437.50
Total Usw 54,629,335.94
~ preliminary and subject to change
Page 1 of 4
structured on 8/P4/2008 8:03 AM
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D.A, Davidson & Co.
Boulder College of M~ssage Therapy _
Pricin~ Summary
MaWrity Type of Bond Coupon Yield MaWrity Value Price Dollar Price
10/15f2036 Term 6.750°k 6.75~0 4,625,000.00 100.00% 4,6:5,000.00
Tornl - SJ,6I5,000.00 $a,6]5,000.00
Bid 1nTurmsiliun
Per Amount of Bonds
Groas Produclion
Bid (100.0UQ%J
Accmed Intemst from 10/I S/2006 l010/20/2006
Totol Purohase Price
Bond Yenr pollnre
Averege Life
Average Coupon
Net Intemat Cost Q~IC)
Trve Intertsl Coet (TIC)
preliminary end subject to change
Page 2 of 4
E4,625,000.00
$4,625,000.00
51,625,000.00
$4,335.94
$J,629,335.94
$92,915.76
20.092 Yeara
6.75467 %
6.75467%
6.74985%
strucfured on 8/24/2008 8:03 AM
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' ~~ ~ ~ D.A. Davidson & Co.
' Boulder Colle~e of MassaQe Therapy
' Debt Service Schedule
Bond
Date Principal Coupon Interest Total P+~ Balance
'
10/15/2006 54,625,000.00
"I 10/15/2007 50,000.00 6.750% 312,187.50 362,187.50 4,575,000.00
' 2 ]0/IS/2008 55,000.00 6.'750% 306,812.50 363,812.50 4,520,000.00
3 10/15Y1009 60,000.00 6.750% 305,100.00 365,100.00 4,460,000.00
4 ]0/i5Y1010 65,000.00 6750% 301,050.00 366,05000 4,395,000.00
S 10/]52011 65,000.00 6.750% 296,662.50 361,662.50 4,330,000.00
' 6 ]0/15/2012 70,000.00 6.750% 292,275.00 362,275.00 4,260,000.00
7 ]0/15/2013 75,000.00 6950% 287,550.00 362,550.00 4,185,000.00
8 10/15/201-0 80,000.00 6.750% 282,487.50 362,487.50 4,105,000.00
9 10/15/2015 85,000.00 6.'/50% 277,087.50 362,087.50 4,020,000.00
, 10 ]0/]5/2016 90,000.00 6.750% 271,350.00 361,350.00 3,930,000.00
11 10/152017 100,000.00 6.750% 265,275.00 365,275.00 3,830,000.00
12 10/IS/2018 105,000.00 6.750% 258,525.00 363,525.00 3,725,000.00
13 10/152019 I15,00000 6.750% 25I,437.50 366,437.50 3,610,000.00
' 14 1~lISl7A20 120,000.~~ fi.750% 243,675.Q0 363,fi75.00 3,49~,OU~.00
15 ]Op5/2021 130,(q0.00 6J50% 235,575~0 365,575.00 3,360,000.00
16 10/15/2022 135,000.00 6.750% 226,800.00 361,800.00 3,225,000.00
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'18 10/15/2023
]0/15Y1024 145,000.00
155,000.00 6750%
6.730% 217,687.50
207,900.00 362,687.50
362,900.00 3,080,000.00
2,925,000.00
19 10/152025 165,000.00 6.750% 197,J3'/.50 362,437.50 2,760,000.00
20 10/15/2026 180,000.00 6.750% 186,300.00 366,300.00 2,580,000.00
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22 ]0/15Y102'7
]0/IS/2028 190,000.00
200,000.00 6.750%
6.750% 174,150.00
161,325.00 364,150.00
361,375.00 2,390,000.00
2,190,000.00
23 ]0/15/2029 215,000.00 6.750% 147,825.00 3fi2,825.00 1,975,000.00
24 ]0/15Y1030 230,000.00 6.750% 133,312.50 363,312.50 1,745,000.00
25 ]0/ISY1031 245,000.00 6.750% 117,78~.50 362,787.50 1,500,000.00
' 26 10/15/2032 26Q000.00 6750% 101,250.00 361,25000 1,240,000.00
27 10/15/2033 280,000.00 6.750 % 83,700.00 363,700.00 960,000.00
28 10/IS/2034 300,000.00 6.750% 64,800.00 364,800.00 660,000.00
29 10/15/2035 320,000.00 6.750% 44,550.00 364,550.00 340,000.00
30 10/IS/2036 340,000.00 6.750% 22,950.00 362,95000 -
' Ta~xl $J,615~000.00 $6.276.815.00 510~901~82500
'
Yield S[atistics
Accrued Interesl $ 4,335.94
Bond Yearpollars 592,925.76
Average Life 20.092 Ye~us
Ave~ age Cwpon 6.754666 %
Net Inleresl Cwl (NIC)
Tme Inle~rst Casf (TIC;
Bond 1SelA for Fvbitrege Purposea
All lnclusrve Cmf (AIC;
Debt Servin Rrsnve fm~d - Lessor Of:
10%a of Pai Amount
] OU % Mas :lnnunl D/S
125 % Average Mnunl D/S
preliminary and subject to change
6.754666 %
6.749854%
6.7J9854 %
6.799015%
462,500.00
366,J37.50
454,242.'71
Page 3 0/ 4 structured on 8/Y4/200B 8:03 AM
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~~ ~ + ' D.A. Davidson & Co,
Boulder Colle~e oS Massage Therapy
Net Debt Service Schedule
DSRF Interest DSRF Principal Net Debt
Date Principal Coupon Interest TotalP+~ Trustee Fee Earnings Released Service Due
0.05% i ~5°~0
10/152007 50,000.00 6.75% 312,187.50 36Z187.50 2,280.38 (11,743.81) 352,721.07
10/ISl2008 55,000.00 6J5% 308,812.50 363,812.50 2,287.50 (11,90922) 354,19078
]0/152009 60,000.00 6.75% 305,100.00 365,100.00 2,260.00 (11,909.22) 355,450.78
]0/15/2010 65,OOO.W 675% 301,050.00 366,050.00 2,230.00 (11,90922) 356.370.78
70/152011
._ 65,000.00
... ._. . 6J5 %
. _ _ ?96,662 50
_ .. __ _ 361,662.50
_ ...._' ..___ _ 2,197.50 _ (11,90912) 35t,950.78
70/152012 70,000.00 6J5 % 292,2'/5.00 362,273.00 2,165.00 (I1,909.22) 352,530J8
10/152013 75,000.00 6.75% 287,550.00 36z550.00 2,130.00 (11,909.22) 352,~70 78
]0/152014 80,00000 675% 282,487.50 362,487.50 2,092.50 (11,909.22) 352.670.78
]0/152015 85,000.00 6J5% 277,087.50 36Z087.50 2,052.50 (11,90922) 352'u'OJS
10/152016
_'____" _ 90,000.00
" ___ _ 6.75%
_' "__' 271,35000
' _ "_' ' ' _ _ 361,350.00
"__ __ 2010.00
"_- (11,90922) 351,45078
]0/152017
1OQ00000
6J5%
265,275.00
365,275.00
1,965.00
(11.909.22) -
355,33078
1011 5 20 1 8 IOS,bD0.00 6.75°le 758,525.00 363,525.00 1,915.00 (11,90922) 353,530.78
10/ISR019 115,000.00 6.75% 751,437.50 366,437.50 1,862.50 (11,909.22) 356,39078
10/152020 12Q000.00 6J5 % 2a3,675.00 363,675.00 1,805.00 (1I,90912) 353,570 78
10/15/2021
' __ ' _ ' 130,000.00
__' __'_ _ 6.75%
_'_ __'_ ' ' 235,575.00
_' __'_"_ _' 365,575.00
' _ '__^ _ __ 1,745.00
' "_ _ (11,909.22) 355,410.78
10/15/2022
135,000.00
6.75 %
126,800.00
361,800.00
1,680.00 '
(11,909.22) ' '
351.570.78
10/152023 145,000.00 6.75% 217,687.50 362,68'i.50 1,612.50 (11,909.22) 352,390.78
10/I52~24 155,000.00 6J5% 207,900.00 3bz900.OD I,540.00 (I1,90922) 352,530.78
10/152025 165,000.00 6.75% 197,437.50 362,A3750 I,462.50 p1,90922) 351,990J8
_ 10/152026
__. ' 180,000.00
_ '. ___ _ . 6.75%
. ___. ___ 186,300.00
. _. _ 366,300.00
._ __..____. . 1380_00
. (11,90922) 355,770.78
(0/132027
190,00000
6.75%
174,150.00
364,150.00
1,290.00
(11,909Z2) . _ .
353,530.78
30/152028 200,000.00 6J5% 161,375.00 361,325.00 1,I95.00 (11,909.22) 35Q610J8
10/15l2029 215,000.00 6]5% 147,925.00 362,825.00 ],095.00 (I1,90922) 352,OIOJ8
10/152030 230,000.00 675% 133,312.50 363,312.50 987.50 (11,909.22) 352,390.78
10/152031
. _ 245,000.00
-_ - .__._____. 6.75%
____ ._ 117,787,50
. _____. __ 36Z787_50
.._..__.__ _ _. 872.50
. (11,90912) 351,75078
10/152032 260,000.00 6.75 % 101,250.00 361,250.00 750.00 (11,909.22) _
350,090 78
IO/152033 280,000.00 6]5% 83,700.00 363,700.00 620.00 (I1,909Z2) 352410J6
10/152034 300,000.00 6.75% 64,800.00 364,800.00 480.00 (11,909.22) 353,370.78
10/152035 320,000.00 675% 44,550.00 364,550.00 330.00 (11,909.22) 352,970.78
10/152036 340,000.00 6J5 % 22,950.00 36Z950.00 I70.00 (l l 409 22) (366 437 50) p 5~~6 7~)
Tofal 34,625,000.00 - 56,276,825.00 510,90t,825.00 546,d62.88 (357 I111~ 510,224,739 23
prepminary and subJect ro change Page 4 0/4 5}IUMnrnr7 nn R/9d/9MR A•nv n u
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THE BOULDER COLLECE OF MASSAGE THERAPY
BOARD OF DIRECTORS
AS OF: APRIL 1, 2006
PLACE OF
NAME EMPLOYMENT OTHER SCHOOL AFFILIATIONS
Danish, Paul Retired Bnsiness Executive No other school afCliations
and Local Government
Re resentative
Doane, Ste hen W. Retired Business Executive No other school affiliations
Guralnick, Sfanley M. Refired Business Executive Board Member, Rocky Mountain Cen[er for
Musical Ar[s, 200 E. Baseline Road, POB 698,
Lafa ette, Colorado 80026
Heimbach, Arthur E, Senior Research Director, No other school affiliations
Ph.D. Research Services Group,
FMI Corporahon„
55 Madison St., Ste. 410
Denver, CO 80206
Nilson, J. Brent Self Employed No other school affiliations
TQM Consulting
142 Granite Drive
Boulder CO 80302
Tufl Cher 1 Ann Retired from PERA No o[her school affiliations
Wolfe, Honora Lee Blue Poppy Enterprises, Inc. Faculty Member: Southwest Acupuncture
5441 Western Ave, it2 College, Boulder, CO 80301
Boulder CO 80301
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~~~~°~.~in~ncial Assistance
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Federal Financial Aid
BCMT paNCipates in Federal Student Aid Programs, including the
federal Pell Grant, Fedeal Stafford Loan (subsidrzed antl unsu6sidized),
and Federal PLUS Lwn Prog~ams Financul aid can provide su6sWntial
assistance to studenis who meet the eligihiliry requirements.
Atldihonally, stutlenis wrth exishng student loans may be eligible for
in-school determem status. Students receiwng federal Financial Aid
loans are reqwred to attend an Entrance Loan Session (scheduled
at New Student Onentanon) prior to receiving theu federal loan
awards In atldition, such students are requrtetl to altend an Exit
Loan Session prior to graduation or prior to wdhdrawal from the
program AOS financial aid recipients are also reqwred to attentl an
Entrance Loan Session at the start of ihe AOS quaRer antl attend an
Exn Loan Session pnor to gratluation or withtlrawal from the proyram.
Fin;~nual Ai~l Disbursement Policy
All F~~Aeral Pcli Grants Federal Slaiford and Fetleral PWS Lcans will
he dpplied Uir=r,lly IuwaiU any tmhnn ard fees o~ned h~,• the sNAent
~uaiterl9 finanaal Aid rs applied ro tmtion and fees in Ihe lollowing
orAer Pederal Pell Grant, federal PWS Loan, Fetleral Staffor~~~
Su6sidized Loan, antl Fetleral Stattord Unsu6sidized Loan
Additional Aid
Oualitying stutlenis may also benefit from scholarships, altemanve
loans, 0°6 in-house 6nancing as another way to meet the needs ol
prospective stutlents. Some stutlents may also be ehgible for support
through the Veterans Administrahon, Vocatmnal Rehabihtation
(unds, and Jo6 Training Partnership Act programs
Zero Percent In-house Financing
BCMT offers zero percent in-house financing conVacts to all qualifying
students in the 1000-HOUr Massage Therapy Certification antl
Associate of Occupational Studies in Massage Therapy Degree
Programs. For a$40 fee, this contract allows stutlents to pay the cur-
rent quarter's tuition on a month-to-month basis instead af at the
begmnmg of the quartec ConUCt the Bursar's Aitl Office for more
mformation.
Tuition and Fees Payment Reminder:
Tuition is due no later than 5 p.m. on the lirst Wednesday of each
quartec Students who fail to comply will he assessed a late fee. For
more detailed in(ormation about the college's Fnancial Aid Programs,
please contact the Financial Aid Ottice at (303) 530-2100 or
1 (800) 442-5131 (Outsitle Colorado).
Definition of Clock and
Academic Quarter Credit Hours
A clock hour is tlehnetl as 50 - 60 mmutes oi mstrucUOn per hour,
tlepending on the class schedules or breaks.
Academic Quarter Credit Hour
Conversion Formula:
Ten clock hours of classroom setting of instmction equal one academic
quarter cretld hour, or 20 clock hours of lahoratory sethng of
mstruchon equal one academic quarter credrt hour, or 30 clock
hours of extemship or work-relatetl experience equal one academic
quartercredR hour.
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1000-Hour Massage Therapy
Certificate Program
This program provides sfudents with comprehensive iraining in fhe field of massage iheidpy,
Educational excellence and an innovafive curriculum ore the foundation of our 1000-Hqur
Massage Therapy Cerfificate ~rog~am and include:
• 650 hours of massage therapy techmque and handsron course work
• 210 hours ot human science lec[ure and hands•on leaming
• 75 hours of career preDaration
• fi5 hours of psychological aSDects of massage therapy
ogram Format
The day schedule begins four times per year, and is presented and
completed in four, ten-week quarters. Each quarter is followed by
a 6reak of two to four weeks. SNdents attend classes and clinic
Monday - Friday tor approximately 25 hours per :^ceek. Outside
massage therapy mtemships, sNdy groups, and indrvidual sNdy
time aAd 10 !0 20 hours pzr v;eek to tYe acaGemic schedule The
~ay Progam may ieqcre,~ttentlance in da;ses ar.d or c6mc GzC.+een
8 a.in. an0 ) V m„'dnrday - Fnriay, Icr a total ol four quarters of
IU r,aiks rach, a,er a pencd uf mx r,~ler.Aar ~zar. StudeN m~iwCUal
~.~.t ;di,les im~ chxge Ce~::een the hcurs oi 8 a.m. and 7 p m
1*.e ?~.eoirg 5chetluie h:9~ns P;+ice p¢r year, in January and July.
There are four, 20-week quarters. Each quarter has a midterm hreak
of two weeks and a hre,ak of three to low weeks at the end of the
quartec Students attend classes Monday - Thursday evenmgs, and
various Saturtlays Por c~imc practicum, for a total of approximately
12 and one-half hours per week. Outside massage therapy intemships,
study groups, and indiwdual study time add tme to 1~ hours ta the
studenYs weekly academic schedule. The Evenmg Program may
requue attendance in classes and or clinic behveen 6 p m. and
1~~.15 A~m., Monday - Thurstlay, and some Saturdays between
9 a m. - 5 p,m, for a total ot tour quaders of 20 weeks each, over a
~~iod of iwo calendar years. Student individual schetlules may
.nge behveen the hours o( fi p.m. ana t~~t5 q.m. Specdic class
antl clinic schedules are distributed to each first-quarter Student at
New SNdent Orientahon. For reluming stutlenis, schedules are
distnbuted one week prior lo lhe end at an academic quarter.
Quarter 1: 1000-Hour Massage
Therapy Certificate Program
Course Cbck Hours AQCH*
2enShiatsu 7200 tO.W
Anatomy & Physiology I 57.5 S 25
Anammiken" I 32.5 3.25
ClientCommumcanonSkills 20.0 100
Movement I IS 0 1.13
Chmc Pra[ncum I 10.0 U60
Zen Shiatsu: 1 ZO hrs
Zen Shiatsu is a form of Japanese botlywork based on the theories of
Traditwnal Chinese Mediane. Students sNtly the system ot meridians,
ar paths~ays of enesgy throu9h ihe Gody, and the ways the movement
ol energy a(f?cts ph~sical, physiological, mental, and emotional
functions. The sessions are peAormed with the chenl lying on
a tahle or luton weanng comfoRahle clothing. Shiatsu students
leam a basic form of techniques, mcluding mendian work and
~oint movement to create a full-botly session In atldihon, students
work with deepening theu sensitiwry to their own energy as well
as to the energy of others.
Anatomy an~l Physiolc>gy I: 52.5 hrs
This course teaches sNdents Ihe basics of cellular, hssue, and
orqan siruttore antl IuncCion Concepis ot homeostasis, mavement
of molecules, antl chemical reactions set the stage lor a thorou9h
understanding of the body systems studied in this course antl its
second quarler equivalent Stutlents sWtly the mle oi nutritlonal
chemistry in physiology antl disease, 3nd leam to evaluate situatlons
they may encounter in iheir prachce of massage therapy In addipon,
students leam to analyze Iheu diets, evaluate areas that can be
improved, antl create strategies for dietary change.
AnatomikenT`' I: 325 hrs
This course is the study of human muscle and skeleWl anatomy
using lraditional means combined wi~h the act of torming clay
anatomy and positioning it on a precise, specially made skeletzl
model AnatomikenT". Usmg clay, students build muscles and other
sott tissoe stmctures, revealing thev logic, form, and tunction. This
process ot budding the hody fmm the inside out assists students in
retammg the knowledge theu hands have practiced. There is an
emphasis in th~s course on the muscles that are clinically relevant
to massage therapy.
Client Communication Skills: 20 hrs
This course provides students with an understanding ot how lo
create a healthy, iherapeutic relationship with their clients. Stutlents
gain a clearer understantling ot the concept of personal houndaries.
In addnion, sWdents learn verbal and nonverbal communication
skills, assertiveness skills, eitective feetlback, learning sryles, and
rapport bmlding. This course also incorporates the concepts of
quatiry o( touch studied in Zen Shiatsu.
~•Ic,vcnxnr I: 15 hrs
Th~s r,our;e ~naAles sludents lo Oetter unUerstand the wncepts of
n~nvemaN on all ;zvels Th? goal ul 1he cuurse is to allmv lor the
appiecidtion of rno~~ernant,is a mam~esiahnn ol exOresscd feel~np,
cOn,ci0u5ness, CI~fAy, antl harmony enthm lhe mUrvidUal CIa55
are« ises are designed and created 1o assist studenls in developing
aa awareness ol movement and che skills necessary for proper
self-care and client care. Movemertt I specil~cally tocuses on developing
mterpersonal relationships and facilitating the mcorporation of the
studenCs work m other tirst quarter courses.
Clinic Practicum I: 10 hrs
lhis course 6egins with an onentatmn m fhe Student Ctinic.
The pohcies and operating prnCedures ot the clinic will be detailed.
Clinic sNdents leam how tu work effectively in a pro~essional
almosphere and to develop skills in charting, assessment,
massage trealmenl planning, antl adminisiralive funchons
Each sludent gives Ihree Zen Shiatsu clinic sessions.
Quarter 2: 1000-Hour Massage
Therapy Certificate Prugram
Course Clock Houn AQCH*
SwedishiherapeuucMassage 1000 8.W
Anatomy & Physiology II 32.5 3.25
Awromiken"' fl 32.5 3.15
>tmtwral Nmesiology 30.0 2.50
Professianal Ethics ZS.O 2.50
Movemeni II 15.0 1.13
Qimc P~acnmm ll 15.0 0.75
Swedish Therapeutic Massage: 100 6rs'
Swedish Massage is the toundation of all Westem styles ot bodyv+ork.
The basic strokes taught in Swedish massage include eflleurage, '
petnssage, iriction, vibration, and lapotemenL The students learn
how to use proper body mechanics and skiltlul draping methods
while successtully giving a Iluitl, full botly Swedish massage. The
class is creative and involves a hands-on focus. Students also leam,
the physioloqical ettects of massage lherapy, how to identify Various
contraindica[ions and are prepared ro work in the BCMT sWdenl '
chnic by m~tlterm. ihe hasic strokes and philosophies leamed
in Swedish massage are the keys necessary br longevity in
the prole,sion of massage therap9.
Anatuiriy ancl Physiolugy II: 32.5 hrs ~
ihis course rs a mntinuatiort of Matomy a~ Physiology L Empbasis is
placed on the muscular, nervous, cardiovascular, respiratory, endocrine
and lymphalic systems. Students siudy the healthy body stmcNre'
and tunchon This knowledge lays the foundation for recognizing
anatomical and physiological disorders requiring Ireatment. '
AnatoitlikenT" II: 32.5 hrs
7his cowse is a coNinuatlon ot Anatomiken'"' I ihe kinesthetic
aspect of ihe system comes imm lhe fact ihat "kinesis" means
motion. "Kinesthehc" refers to the bodys sense of itsetl m motion,
antl covers fundamental aspects of muscle aclion. This system of
hands-on learning is an ideal, kinesthetic approach to the study of t'
muscufoskeletal system, building the body Irom Ihe inside ouL In
adtlition, students study the location, structure, functions, palhologica;
considerations, antl mterrelationships of ~om[s, muscle groups,
ligaments, and connective tissue.
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Stnictural Kinesiology: 30 hrs
Kinesiology is the study of movement. In this course, slutlents
develop sktlls and confidence in locating and palpating ma~or
anatomical stmcWres to under5tand thev role in human movement.
Adtlitionally, fhi5 course helps students to improve their knowledge of
musdes and attachmenGs and their ahiliTy to recognize the ddferences
in the anatomical quahiies of ligament muscle, and bune tissues.
This course refers to concepts leamed m the Anatomiken'" and
Swedish Theapeuhc Massage courses.
Professional Ethics: 25 hrs
In this course, students study the ethical issues involvetl in
iywork. ~iscussion emphasizes the guidelines for sate and
,cal contluct antl the importance of untlerstanding and
respecting professional boundaries in a massage therapy
practice. Students also leam how to sensitively respond to
clienis with a history oiphysical antl emononal ahuse.
Movement II: 1~ hrs
Movement II focuses on enhancmg antl developinq ;kilis .;pplir,ahle
u the sNdry ct S:~:d,;h it:;;,;reuCC Slassar,e. Using !te msssage
S!b!>, stuUent; :?ain nr,Jy mecYar~cs. Je•:ulep 6~!ance,learn proper
_e of Cc.^~ ,^~gi t.r~l :~~ qu,-~ant ,dn it~,ythm ~nd per=onnl style
C:linic t'r,icricuu~ lL l~ hi:s
'~!:~~;ci ~s q,~,e ;;~.u ;ihiatsu :,assicns dunng Ihe tii5t halt ol Ihe quarter
In the c~acond hatl, they gr;e six Tl~era0euuc Massaqe sessions in
clinic ireatmenl rooms. Climc Supervisors prowtle conslruchve
teedback to help stutlents rehne Iheu massage therapy skdl,, Io
support Iheu candnued development of assessment and charting
skills, and to plan eHectme massage [herapy treatment
Quarter 3: 1000-Hour Massage
Therapy Certific~te Prugram
Course Clock Houn AQCH'
Narmahzationol5ohiissue I10.0 IO.W
7athuphy~iology 300 3.W
(areerCev?lopmen[I 20A 2~~0
PiychowoalASpectsofTouch 200 US
field Inremship I 10.0 EO
Movement III 15 ~ 1 13
Requued Elecnve Caurse 15.0 1 13
ClmuPracncumlll 20.0 2.W
Normalization of Soft Tissue: 1Z0 hrs
This course teaches student~ the vanous assessment techmques
for determining the appropnate Ireatment of each client. Students
gain an understanding of the relationship between posture and
pain, develop o6servation skilis tor postural assessment, and learn
how lo work with ciients sufFenng from awte inluries. Course work
includes the slutly of Myofascial Release, Lymphatic Drainage,
Trigger Pomt Therapy, Pm and Stretch, Muscle Energy Techmques,
:mtl f,rcws FiGer Fnction.
Pn[huphysiulc~gy: 3l~ hrs
ihis r,cur,2 mircduces students to alterations in normal hmnan
ph,siology ;~hich result in tlisease. Students 9am an unUeBtantlmg
oi ho~.v and vihy the normal homeostanc balance is disruptetl
They also laam how to recognrze common diseases Ihey may
encounter m theu massage therapy pracUces SWAents wAI learn
a6out musculoskeletal disorders, common cancers, skin d~sorders,
infectious diseases, cardiovascular tlisease, and entlocnne/
metabolic disorders.
Career Developtnent I: 20 hrs
This business caurse focuses on preparmg sNdents ~o succeed in
the business of massage. Instructors ofter practical gwtlelines on
how to estahiish a successful massage therapy practice antl pursue
massage-related employment opportumhes. Stutlents create an
effechve resume and cover letter, research 6censmg reqwrements,
and leam ta successfully interview lor employment Through lecture
and experientiai leammg, the course also exammes professionalism,
fee strucNre, markelin9 strategies, and business ethiCs
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SCt~)1CC C~CISSCS
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Psychosocial Aspects of Touch: 20 hrs
This course gives studenis an understanding otihe needs ot client
populations with physical or psychological challenges. Individuals
include those with cancer, AIOS, Alzheimefs Aisease, chronic pam, and
the physically disahled. The course teaches students that excellence
in technique is only one as0ecl ot a compassionate therapist; a
v~ell-crained therapist must also have the abtliry to listen attentivery,
respond sensitively, and communicate ettectively. Students will
experience a climcal practicum that incluUes special clients.
Field Intemship I: 10 hrs
The Field Intemship course is designed to assist students in the
transition from the classroom to the protession of massage therapy.
SWdents have opPOrtunities to provide ditterent types ot massage
lo a variery ot clients in diverse setlings. The ma~or components of
the course class orienfation, commumry mtemship, and communiry
service. ~ualNied superwsors at communiry organizations provide
supervision and te,edback. Sites include, hut are not limited to,
hnspitals, reha6iltlation centers, sports/elite athletes, animals,
and commumry events.
~1cn~cm<nt (Il: 15 hr,
P.1c~;ement III focusas on de~~elopmg Gzrsonal sry!e and awarenass,
.md erhancinp the ~+~urk s~udeNs leam in Normaiizalion of Soft
fissue ihe goal of Ihis course is to balance saentific learnmg with
structured creauve movement expenenr,es. Exercises are Oesigned
ro deepen appreciation and untlerstanding of physical movement as
a therapist and as a c6ent.
Clinic Practicum III: 20 hrs
The continued practice and retinement of technique are
emphasized in Chnic III. Stutlenis are schetluled lor eleven
Therapeutic Massage sessions that uhlrze learned motlaliry
skiils and techniques.
Qtiarter 4: 1000-Hour Massage ,
Therapy Certificate Program
Course (lock Hours AQCH'
Integiative ifierapeunc Massage IW 0 8 ZS
ClimcalKinesialogy 30.0 250
Career Developmem II 25.0 2.50
Field Internship II 200 1.10 ,
Hydrotherapy 15.0 1.25
CLmc Pracnam IV 30.0 1.50
FeqmretlElecnveCoursels) 30.0 2.25
Integrative Therapeutic Ivfassage: 100
This course is designed to teach the philosophy and torm of
Integrative Therapeutic Massage. This sryle of bodywork was initia
developed at ihe Boulder College ot Massage Therapy almost thi
years ago. Originally hased on ihe body-centered, psychotherapeutic
work of Wilhelm Reich, it mcludes an emphasis on ihree princip~
mindfulness, embodiment and holism. The principles are equall
suDPorted by strategies and intenllons. With Ihese in place as the
basis of the work, students then learn to co-create with their cli~
a comprehensive 6ody, mind, and spirit experience. Specitic techniq
inwrporate breath work, listemng skills, ver6al mteraction, sensation
aevareness, and broad fluid strokes to reduce holding pattems i
the body. 5ludents leam how to mcorporate creative movement~
their own bodies to support their work. Each student is encourage0
to further develop a unique Integra6ve sryle that expresses his/~
ovm specific interests m the lield of massage therapy.
Clinical Kinesiology: 30 hrs
This course teaches students to improve their un~erstanding o~:
anatomical aspects ot static positianing and dynamic moveme
mcluding the eflects of repetRive motions and unbalanced positioninn
Coursework includes ihe sWdy of achve and passive range ot'
motion ot ihe jomts, dynainic and stahc analysis, classdication
muscular contrachons, gait analysis, and muscle action.
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Career Deve(opment II: 25 hrs
This course builds on the concepts leamed in Career Development
I. Students leam how to develop a husinessltinanc~al plan, how to
creale career opportunities for themselves, and step-hy-step strategies
on how to market their practice and their services. Students create
husiness cards and other marketing materials that will support their
practice uDon graduatioa Other top~cs include msurance billing,
retirement plamm~g, and goal setting.
Field Intemship II: 20 hrs
The Fleld Inlemshlp course is designed to assist s[udents m the
transition from the classroom to the prafession of massage therapy.
'`itlents have opportuntties to provide ditterent rypes of massage
, variery of chents in tliverse setlings. The ma~or components oi
the course are class orientation, commumty mtemship, communiry
service antl protessional mentorship. ~uahfied supervisors at
commumry orgamzaCions Drovide superwsion and ieedback.
Stutlents choose their protessional mentors and work one-on-one
wrth them to enhance their leaming Sites inciude, but are not limrtetl
to, hospitals, rehabil'oatlon centers, spoRS/ehte athletes, ammals
and commun~C~ caerds
f Ic~lnxh~m~}}'. l~ hrs
p„~.cni°,efncr,J~•s in:ntrr,di.clinnlnHydmtYer9UY.lCCCain~
,.n ~ha: ;:lory mJ ~aneLls ol;hu d~sciDlme Sludents :vdl
o~tenen~e ird b~ecme kno~.v{eJ9eahle about lf~e handson prachce
of hyarotherapy applications such as hot and cold Iherapy, spa
techniques, ana water Ihttapy apphcahons SNdents pracnce
hands-on skills in ihe well-equipped antl modem spa classroom.
Clinic Practicum 1V: 30 hrs
SNdents contmue to concentrate on ~etinmg the sktlls and
techniques they have learned in the vanous hantls-on modalities.
Slutlenis give seventeen supervisetl Therapeuhc Massage
sessmns m which they have the opportun~ty to mcorporate
techmques leamed m their requiretl and elective coursevrork
Electives:
]000-Hour Massage Therapy
Cerlificate Program Eleciives
Clock Hours AQCH'
15 1 13
30 L25
Stutlents chaose 45 clock hours from [he listmg UelOw.
Aromatherapy: 1 S hrs
P~erequisite: Completion of 2nd quarfer
This m-depth introduction to usinq aromatherapy in a massage ~
practice provides scientitic iniormation with hands-on demonst2tions
and experiential learmng. Covered are: basic chemistry, carner oils,
dilutions and methods of application, materia medica of ten basiC
essenhal otls, physiological explanation in Ihe science of olfaction
and how essential oils work and saFery i5sues Nose-on actimties
inclutle sampling of scents. Each participant will create his/her
ovm unique blend tor his/her indimdual purpose
Fun~l,~mentals uf Spurts Massa,~e: 3~ hrs
Poerequisite: Complefion of Swedish
Thnrapeutic Massage, AP 1& 1!, and
Anafomiken'"' I & 1/.
The U~actitioner af sports massage exhihds an acute untlerstanding
oi muscle and ~omt mechanics and thert relafion to the acnvities of
athletes. As a sports massage therapist, one should not only 6e
ahle to give an effechve massage t0 relieve tension, but his/her
skilis musl also mclutle an awareness of which muscles are stressed
by a particular sDort, what areas oi those muscles are sub~ect to
inicro-irauma, how to determine which muscle is in~uretl 6y which
movements, and a lamiliariry wdh current mformahon an in~ury
prevendan and traming. This course is designetl to gwe Ihe massage
therapist a solid background in these area5 m preparation tor work
in the sports arena.
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Herbolo~,ry: 15 hrs
Prerequisite: None
Herbology introduces lhe hismry and science of herbal medicine,
as well as the identiticaUOn and medicinal apphcation of various
local ptanis.
Introduction to Animal Massage: 15 hrs
Pre~equisite: Compleflon of Swedlsh
7herapeutic Massage
Students will leam about behaviors, emotions, and the applications
far animal massage. Focas will be speciticalty on those animals
where internship sites are provided - horses, dogs, and rabhits.
Some basic comparative skeletal and muscular anatomy will be pre-
sented. Safety matters an0 how lo communwate intenllon to these
animals will be discussed and practiced. The course will include hands-
on practice antl application of massage techniques, which have
6eert laarned antl used on human clients in previous courses.
Intro~luction tc~ Thai Massage: 15 hrs
Pre~a~~ursde: Completlon of Swedish
(nernpeufi~ PAc7sscge
Sludents rnll leain en array ol Icchn~quas ~or ;upme, pmne, s'iJe
i~ing, and snl+ng posilions anJ •~^nll be 3ble lo com6ine Ihe moves
into a dyr.amic ar.d tluid ore-hour session Thai massage is an ancient
neahng art v+dh orig~ns m Ayurvedic MeUicine and Yoqa It has
evolved into a ~mque and magical combinalion of gentle roeking,
tleep stretr.hing, rhylhimc compression, sort-tissue manipulahon,
energy balancing, and acupressure Thai massage affecfs the en6re
body by ~ncreasmg flewbihty, releasinp ho~h deep and superficial
tension, enhancmg the hody's naWral energy fiow, and promohng
inner peace and a qwet mmd.
InEant Massage: l5 hrs
Prerequisite: Completion of Isf quarfe~
Recent researCh has shown lhac skillful, stmclured touch can have
profound eflects on iofants. Participanis will tliscuss intant psycholo~y,
birlh, bondmg, antl parental concems aboul the proper level ot
aitention ihat should be given lo iheir 6abies. In addilion to leaming
ihe specific mfant massage techrn4ues, parlicipants will learn how
to interactwdh parents or caregivers, and how to understand Ihe
ways they communicate with and comfort their infants. While leaming
the techmques, participants will practice with dolls and sWffed animals. '
Parents and [heir intants will attend a portion of each class for
actual hands-on practice and instmction. '
Orthopedic Massage: 30 hrs
Pre~equisite: Completlon of NST and
Pathophysiology ,
The course enables students to recognize cammon disorders of [he
musaloskeletal struclures and prepares students to work with
indiv~duals who suffer trom common diseases and injuries. They '
will learn when and how to treat injured tissue and when it is
t m r ter to a medical doctor Peripheral nerve disorders
appropna e e •
iractures, dislocatinns, sublw~ation, kyphosis and scoliosis deMrmitie:~
of the spine, eliminatory dysfunciions and disorders, cardiovascula
and respirarory diseases, and paralysis are included in the instruction.
Polarity Therapy: 15 hrs ,
P~ereqw'sife: Compleflon of lsf quarter
Poianry therapy ~s the art of healing 6asetl on the principles ot energy
in motion and how life is governed by Ihese principlas. This course
iNroduces an ener9Y model ot the human 6ody basetl on the chakra
system. From this basis, a full-body energy balanung Ireatment is
hught, aiong wrth simple exercises, mihich deepen sensi4viry to suhtl
energy. The ezperience ot giving and receivmg polariry work serves
as Ihe 9aleway ln understandmg energy bodywork. '
Postpartum ~vfassage: 15 hrs
Prerequisite; Complefion of Swedish
Therapeutic Massage and Prenatal Massage
This inlrotluctory module tocuses an Ihe periad of time from dellvery
thmugh two years postpartum. The stutlent wAI team how pregnan~
hidh, and child care aflect Ihe strucWre, musculature, and physiol
of a woman's body. Additionally, the woman's emotional state and
how massage therapy and exercises can support her on all level~
during this time periad are explored. The focus of the course wil
on reawakenmg core musculature to suppon postural challenges
and on assessing and ireating common pain complaints '
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Prenatal Massage: 15 hrs
Prerequisite: Completion of Swedish
Theiapeulic Massage
In this course, students learn the benefits of prenatal massage,
pregnancy anatomy and physiology, common psychologicaf
changes, as well as how these rr.late to prenatal massage. The
course is balanced with experiential hands-on practice of proper
prenatai client positioning, including side posihon antl semi-
reclined posRioq draping, and prenatal massage techmques
appropnate for each trimes[ec Students also leam atout prenatal
massage wntraindications and how to da a thorough health history
intake with pregnant clients, as well as how to recognize the signs
' symptoms of comphcations to a healthy pregnancy.
Keflexology: 15 hrs
Prerequisiie: Complefion of Istquarfer
Reflexology is an ancient therapy designed to hnng the body
into healihful 6alance and to provide preventive maintenance. Ihs
based on the ptinciple lhat all organs, glands, an0 6ctly parts have
correspontlmg reflex pomts in the feet and hands Based on the
r,nginal ingh~m mmhnd, th;s cour;e ~nnl ,ntrcduCa Ihe pnnr,{p~es
~d zone IiiaqCY Varnc:pa~its :,ill ::am Ihe Cuna6ts uf ~allgxolc9Y.
.~~I ; v, iLld to ~du,;;h~ spec~qc r,Pex pr.int5 of 1; e I~ai ard hanUs.
~r 7•, q' ~.~m.irA pnchcd ;p~:cif,c rechm~ues in ortler to perform
,~,~r,:~te u:d ;hr,rauqh tcot and hand rat!exuloqy Ireatments
SeaCecl Massage: 1 ~ hrs
Pierequisite: Completion of ist quarter
This creative and tun elecdve will Instruct Ihe sludent In the sklls
and techniques of seated massage, utilrzing a pmfessional massage
chair and a stantlard chair. SWdents will learn [o mcorporate aw-
pressure techmques (Shiatsu) in a seated hata and wtlf expenence
vanous creative techniques tor an etfechve seated session. A seated
massage is a wonderiul way to iniroduce peaple to the aA al skilled
touch and is a tlynamic markeGag tool in buddinq one's praclice or
'ning an employment oppoRumry.
T~~il uf the Tiger: Table Shiatsu
~vith Expanded Lower Body
Techniques: 15 hrs
Pre~equisite: Completlon of )sl9uarfer
This elective will emphasize proper body mechanics for performing
a Zen Shiatsu session at the table. The six leg mendians learned in
first quarter will be reviewed at the tahle to refine and deepen your
skill and sensitiviry. Adtlihonal detail and techniques to work the
hips, knees, and ankles w+ll a4so be included These are especially
helpfW for working with active Ciients such as runners and cyclists.
Vibratiunal iv[edicine: 15 hrs
Prerequisife: None
ihis eleChse is an expenanual evploration of the energy body -
tl;z aunc hzld, rhakras, and meridians. Studenls uvill axpand their
a:rareness of ihe human erergy system and hcw to suppoR ~he
eihole hearth and welf bemg ot Iheir bod9~vork cllents and them-
selves Students wdl also Ieam how to incorporate bas~c energy
metlicme techniques mto theu massage prachce to enhance the
overall session,
Win~;s of the Unagon: Tahle Shiatsu
~vith Exp~incleel Upper Bucly
Techniques: 15 hrs
Pre~equisite: Complelion of 1stQuarfar
This eleciive will emphasize pro0er hotly mechanics lor performmg
a Zen Shiatsu session at the table The six arm meridians leamed in
hrst quarter will 6e rewewed at ihe table to refine antl deepen your
sktll and sensdiwry. Additiona! detad and lechniques lo work She
shaulders, elbows, and avnsts will also be inclutled These are especially
helpfW for working with chents who have repehhve stress m~uries
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~~.The Associate of Occupational Studies i
: in Massage Therapy Degree (AOS )
~ The Boulder College of Massage lherapy (BCMn is setting the standard for educational excellenc~
in the Massage Therapy profession. BCMT is one of ihe first Massage Therapy programs in the nati~
to otfer an acciedited program leading to an Assocfate of Occupational SYudles in Massage
Therapy Degree. This advanced training allows the student to choose a focused field of speclaAzation
whlle developing a professlonal massage iherapy practice. Wifh inshuction by BCMT's mosi expenenc
ed and accomplished educators, students learn to master advanced techniques that are Immedl~
ately applicabie and beneficial to their clients.
Program Format
The AOS program involves six monihs o~ part-time evenmg courses,
with classes meeting two niqhts per week from 6 p.m. - 9 p.m.
SNdents explore advancetl concepts in human anatomy antl physiology
including neurcphysiology and neuroanatomy, medical massage,
and other topir.s not covered in the 1000-HOUr Massage Therapy
Cendicate Program. Advance0 Oodywork techmques wrth app6caLOn
Credit Prior for Leaming - AOS in'
Massage Therapy Degree Program
The Associate ot Occupational Studies in Massage Therapy Deg~
will be awarded after successful completion ot a total of 102.1-qu
ter credR hours (84.5 quarter credit hours from the 700o-Hour
Massage Therapy Certi(icate Program and 77.6 earned as part of
Ihe AOS Pragram). Candidates for the A05 Oegree in Massage ,
io cpeanc spztiai puNu:anons viw ce ernpnas~mu uwniy we p~~c~~ca~ 7herapy who have not graduated fmm the 1000 Hour Massage
porhon ol the sympasium caur,~s. Students sel2ct tour Advancetl
6odyv~ork StuAies (ABS) e!r.Ctr~es, vhich must be completed ~riithin
;ix months ol the program start. Elec6ves are scheduled FriAay
through Suntlay Irom 830 a.m. - 6 p.m.
AOS Admissions Procedures
and Kequirements
The AOS in Massaqe Therapy Degree will 6e awarded atter
successtul completion of a total of 102.1-quader credit hours
(84.5 quarter credit hours from Ihe 1000-Hour Massage Therapy
Certtlicate Program and 17 6 eamed as part of the AOS Program).
For more intormation about the program contact Ihe Director ot
Enrollment and Serwces at aos~bcmLorg.
Refund Policy, AOS Program
The refund policy for the AOS program adheres lo ~he same policies,
procedures, and guidelines as ihe relund policy for Ihe 7000-Hour
Massage Therapy Certificate program.
Therapy Cetlificate Program at BCMT may request credil for pnor
learning by su0mitting a portfolio for review. '
The portlolio should include~
• A cover letter and/or resume descri6ing work experience '
as a massage therapist
• Proof (an oflicial transcript) of completion of an accredited
program in massage therapy ot at least 500 hours. '
• Documentation reqartling additional lraining in massage
therapy antl bodywork
In accordance with ACCSCT requirements, non-OCMT graduate
viho receive credit for prior leaming for admitlance to the AOS ~
Degree program must still complete 25% of their education or a
total of 25-quarter credit hours of coursework at BCMT.
AOS Crne Cuniculum (17.6 quartc~ credie hau''
• Medical Massage
• Trauma antl ihe Body '
• Craniosacral Therapy
• Four electives (24-hour Advanced Bodywork SNdies)
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Corequisite Cotu'sework f~r Non-E3CM7
Grnduaczs (8 qunr~er credit haurs)
To meet the 25-quader cretlit hour requirement. noo-BCMT graduates
must take,at least 104 contact hours or 8-quader credit hours ot
additional coursework from our Advanced Bodywork Studies
Certiticafe programs. Suggested coursework mcludes.
Example 7: 104 hours (8.1 quarter credd hours)
• Spa Elements: Hydrotherapy (16 hrs)
• Prenatal Massage (16 hrs)
• Sports and Orthopedic Massage. Core Techniques (24 hrs)
• The Art ot Zen Shiatsu: Motlules 7& 2(48 hrs)
Example 2: 104 hours (8.1 quarter credit hours)
• Prenatal and Postpartum Massage (32 hrs)
=.nergy Healing: Vibrational Healing (24 hrs)
fhe Art ot Zen Shiatsu: Modules 1 8 2(48 hrs)
~ Core Classes
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Medical Massage: 60 hrs~5.0 AQCH'k
In this course, the stutly of advanced psihephysiology antl
neuroanatom9 concepts is ccmCined evith specific pracBCal hsnds-on
Iechm~ue5 Siudert; :eam trnatmanl methods spec~hr.alty yaared
!~:~~rd clienis ~nth ~p~r.al cnr~i in~urr. trawnanc 6rzin inµiry, mulhG!e
~Ctrosis. ~h;tlelr.s, uUi~:~n/al9~a. Dci[~s~~r;,mal tcr,siJerat:uns. antl
o-,~.y otLar .;{;ec~Ec ccnJamns Tire ex~~nential podmn ol ti~r.
~ p~,;~.a ;+r,y>:,s.n-Cass• duucs :nth a van2ry of sOPCial poP~:fations.
Trauula a~ul the E3o~y
30 hrs/2.50 AQCH"
This course introduces the ma~or conceDts of Post Traumahc Stress,
and outlines the 6enefits ot massage therapy to survivors ot lrauma.
Specdically, this curricuWm examines the role ihat ihe autanomic
nervous system plays in the ongoing symptoms associated with
traumatic events, both physical and emohonai. StuUents learn massage
techmques that can help restore a sense of halance m the nervous
system as well as foster reconnection for survroors who otten
expenence mtense physical reactions, memories, and a sense of
scannectedness irom their body
Craniosacral Therapy:
30 hrs~2.50 AQCH*
This course intmduces the practical stmcture and the philosophical
hasis ol craniosacral Therapy. Students will learn lhe tundamental
skills ihat serve as the fountlation ot Craniosacral Therapy, including
an intmduction to the core anatomical and physiological relationships
of the craniosacral system: the tluctualion of cerebrospinal fluid,
bony articulations, reciprocal tension membranes, tlural tu6e and
spinal cord dynamics, and Ihe motiliry of the central nervous system.
Students will benefit irom learning practical, effective skills ihat can
be integrated immediately into Iheir practices.
Electives:
Associate of Occupational Studies
in Massage Therapy
Electives: 96 hrs/7.60 AQCH*
In addihon to the wre curriculum, students select tour weekend
modules from the Advanced Botlywork SNOies Certificate Programs.
Currently oifered is atlvanced, sGecialized training in Zen Shiatsu,
Canine Massa9e; Erergy Neahng; Prenatal, Lahor, Pastpartum
btassage Therapy; Spa Elements; and Orthopedic and Sports
^dassage
Clo<k Nours AQCN"
~e ~ va
Stutlents choase three modules from the listing 6elow.
THE ART OF ZEN
Fuun~latioi~al Techniques
and Theory: Prone Pc~sitiun
Pre~equisite: BCMT grad or 4ih qfc sfudent, a
graduate of an approved 500-how massage
school
This module is the tust ot M~o modules designed to give the stutlent
a hasic foundation m the (unAamentals of Zen Shiatsu. The sWtlent
leams [o work wdh the meridians accessible in prone position, applying
~~ f fe~l lil<e
trlclSSCti;z t}lc'.rctO}
palming and Ihumbing techmques. Change occurs rapidly when lhe
back of the hody is treated, making it the perfect place to 6egin to
feel the eflecis ot Shiatsu. In addition, learning efficient alignment
and proper body mechanics wtll magnity the studenYs abiliry to feel
change occumng in Ihe client Through a lecture Pormat, Ne wurse will
lay the theorehcal and philosophical groundwork for such concepts
as: tha seven mles of Shiatsu, functions ot ki, mendian anatomy and
physiology, and how the concept of Zen Shiatsu applies to bot~ the
giver and the receiver.
is whnc ('m Foundational Techniques
and Z'heory: Supine Position
n t~[in C CO CIU Prerequisite: BCMT grad or 4ih qir. studeni, or
graduate of an approved 500-hour massage
lll YYIy ~l f~ . school
It's abs~~lutelv
it'{7C7'c' 7711~
~1,.4iil I` i~l~rl
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This course, in combination with Module 1, is the perfect review for
anyone having stuJied Zen Shiatsu antl an excellent beginning tor
those wishing to incorporate Shiatsu into Iheir bodywork prachce
By Aeepening an unaerstantling of alignment and correct hody
mechanics, the sWdent will begm to feel Ihe movement of energy
•aithln himsei~ or hersetf, as v~ell as umihin ~h¢ client The studen~
:~iill ~r.arn (uundatwnal techniques cath the client in supine posihon
I hrm~gh a Iactura, format, the course wtll mclude. five mles of ~mnt
~r.o~iement, n~,eriaian anatomy ar~d physiology: a comparisun of
~sian antl bNestem rnttlicines, and five-elemanl r,orrzspondences
Masunaga's Mericlian
Extensions in the Leg
Prerequlsite: Modules 1 & 2
This course inirotluces the extentletl mentlian system based on [he
Idework of Shizulo Masunaga. fieview ot Ihe six hadnianal meridians
in the legs will lay the groundwark lor leaming the addrtional six
meridian extensions. Knowing all Iwelve meridians in the lower
extremity is the first goal toward groing a complete session. The
application of Kyo/Jitsu theory to lhese meridians allows the sWdent
ro begm workinp on a more complex level. The student can now
focus on influencing and restoring Ihe pmper flow of enerqy in ~he
body The course mcludes. review oi the six Uadihonal meridians in
the legs, anatomy of the six extendeU meridians in the leg, and
applica~ion o~ Kyo/Jitsu theory
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Masunaga's Meridian ,
Extensions in the Arm
Prerequisite: Modules 1 & 2
This course 6egins wilh a review ot the six iraditional meridians in '
the arms. feeling secure with these meridian locations will make
learning Masunaga's six meridian extensions that much easier.
Masunaga reinstated the eztended meridian system because he telt '
the body needed to be touchetl along the entire course of the
meridian with Ihe sensitivily of the hands. Appying KyWJitsu theory
to all the meridians in the upper exiremiry will help students '
become aware of, and influence the quantiry and quality o(, energy
in the body. The course inGudes: review of the six traditional
meridians in the arms, anatomy of the six extentled meridians ir ~
the arm, and application o~ Kyo/Jitsu theory.
Hara Assessment:
The Expression From Within '
Prerequisite: Modules 1 & 2
~his course marks the prvotal contribution Master Masunaga made '
[o the practice of ShiaLU. Through haa assessment and the applicaAOn
of Kyo/Jitsu theory, the student will leam to recogmze the specific
meridians that need to be worked in a session. Meridian physiology t
will be expanded so that the student can mterpret what Ihe hara
assessmenf is expressing a6out the clienPs physical, emotional,
and mental health. It is.n exa6ng moment when sWdenis realize
ihey have sophisticated tools to assist their clients through hfe '
changes antl health challenges. The course includes: Iocation and
palpation ot hara assessment areas, application ot Kyo/Jitsu theory
lo hara assessment, Masunaga's Kyo/Jitsu test related to hara '
assessment, creation of the composile - extrapolating the essence
ot the hara assessment, and application of the hara assessment lo
a lull-body session. ,
Exploring the Body in Side Position ,
Prerequisite: Modules 1 & 2
This course will teach the student to give a full-body session in s~_
posihon. Detailed work on the head, neck, and shoulders alluws the
student to atldress many cominon ailments such as neck and shoulder
m~uries, headaches, migraines, TMJ, and sinus wngestion. Leammg
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,lechniques (or the back, buttocks, antl legs will prepare the sNdent
to work wRh chents who cannot lie in prone or supine positions.
This is very useful when workmg with pregnancy, people recovenng
'Irom surgeries, and lower hack and neck injuries. Kyo/JRSU theory
will he applied ta this wark so that the student can continually
onitor and influence Ihe efhcient distnbution ot energy, neetled
~r optimum health, m the 6ody. The course includes: side-lying
techniques tor head, neck, shaulders, and torso; side-lying techniques
fur 6ack, buttocks, and leqs; anaromy of GB meridian m che torso;
~daptation of BL and KI mentlians m the back; atlaptatwn of HC and
I meridians in the buttocks; atlaptahon of G8 and LV mendians in
the legs; and appiication of Kyo/Jitsu theory.
' VINE MASSAGE
Fundamental Techniques and
,Theories of Canine Massage
Prerequisite: BCMT g~aduate o~ 3rd or 4th qfr.
tudenis
~his module presents camn5 analomy aud physialoyy, an0 leaehes
studenis to re ahle to palpate the ma~nr musr,!es snA undr.rstand
uRCns. ony;in, ~nd :ncad~cn ~ants Tim a;ihly lo .dantitp snJ
<_,~5, r;Lt.nR Car ,v.r,r ~5 ID~nq:cr~ani ~l,J9nr,sllC tr,ul Sn~denls
~rn ~Cnut ;uh,r~~,tir,n. ~r,dmss;nn. Fack GsYthologY. =rA dnin:~ls'
r• p,,n G.~~'i.ar,on uf r,~e~l ai~d+r,icmoLCn amr,n9 d~flerent braetls
,..iH ta o0:ar.ed S!uJanls r:,ll revi~rro c,~sa hutnry, case manage-
menC dntl commuricahon enlh ovmers and olher ammal profes-
ionals. Canines uviil be Ne recip~ents of safe and elfective massar,e
~herapy treatments antl techniques
Pathologies and Clinical
~Application of Canine Ivlassage
Prerequisite: Fundamental Techniques and
iheories of Canine Massage
'fhis module will deepen the knowledge of massage techniques for
oathofogies such as_ hip tlysplasia, arthapedm surgenes, aad cancet
ients. Also tliscussed wdl he common canine tliseases, med~cahons,
'mtl side effects This motlule includes a canine clmic and a
hands-on event
Expancling Canine Massage
Knowledge Through Aa~pressure
Prerequisite: Fundomentpl Techniques and
Theories of Canine Massage and Pafhologies
and Clinical Applicofion of Cantne Massage
This madule mcludes American Red Cmss Frst Aid for small animals
to ensure con6nued satery in canine massage work. To support Ihe
learner m ihis process, the humaNanimal 6ond and grief and hospice
massage will be discussed. Due to the large numher of clients a canine
massage practitioner will see, passing on coping and communication
skilis will become an essen[ial part of the work. Acupressua techniques
and philosophy of tradRional Chinese metlicine will be taught and
applied to willing canine participants. Theory of breetl-speciflc
activities including agiliry, racing, and hunUng dogs will be tliswssed.
The module will conclude with a canine lab where students wili be ahle
to practice methods and techniques learned ihroughout the program.
Canine Massage Supervised Practicum
Prerequisite: Fundamental lechniques ond
Theories of Canine Mossage, Pafhologies and
Clinical Appiication ot Canine Massage, and
E:<panding Canine Massage Knowledge
Throu,qh Acupressure
Th~s mcdule nlfers pruchcum ~ndh supe~nsion The stutlent vnll set
up e pracUCUm, :vhich will famili~nze Ihe student vaith being out m
lhe held ot canine massaye therapy Internships a~iil he chosen from a
num6er of possihtlities such as case stutlies; ~vorking at a humane
saciery, veterinanan ofhce, or hospdal, working vnth competihon or
worMng dogs Dacumentatmn on all intemships ~rall 6e sent to the
instructor for review and appmval
ENERGY HEALING
Vibrational Healing
Prerequisite: None
Viboational Heahng is an expenenual explocation of lhe human energy
bo0y- the auric hettls, chakras, and meridians. Students vnll
expanA theu awareness of the human energy system and how
mlenchng with Ihis system supports the whole health and viell-being
ot lheu c4enis and themselves In lhis course Ihe stutlent will further
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develop sensdimry to energy, mtw6on, and presence through exercises
and practices. 7he student willinlegrate basic energy medicine
lechniques into bodywork sessions to enhance the free flow oi energy
allowing clients to experience balance physically, emotionally,
mentally, and spiritually.
Chi Kung Healing
Prerequisite: Vibrationol Healing
Chi Kung Healing is the practice of utilizing the Asian practice of
Chi Kunq (Energy Cuttivation) within a Vi6rational Healing sessron.
Chi Kung Healing has iwo components: External Chi Healing, which
is treatment by the praclltioner, and Setl-Practice, which is often
taught by Ihe practftioner to the client to help tacilitate the healing
process. In this course several setl-practices will be taughL 7hese
pracllces are ancient Taoist practices that support the health and
healing of the organs in the body. Studenis will gain an applicable
understanding ot the Chinese Fve Element iheory and its relationship
to lhe intemal organs of tbe body. Extemal Chi Healing techmques
will he taught Ihat vnll help move static Chi an~ mcrease lhe wtural
Ilow of Chi in bodyuiork clients. The caur;e wdl begin with an
r,xperienhal exercise ot 6wtding the orqans of the body using fhe
[nree-Ain:en5ional 2oulogik Syslems~~ Maniken"" model.
f-{c~+lin~ T~~<<ch: Th~ Pcn~•ci~ c>FTuuch
aiii~l Intcntionaliry
Pier2quisife: None
Healing Touch is a biotieltl therapy Ihat encompasses a gr0up of
non-invasive techniques which u6hze the hands and one's intentionaliry
to clear, energae, and balance Ihe human and enwronmental energy
fields. ihe techniques taught in this course can assist clients in
stress reiief; acute and chwnic pam managemen~, Ihe relaxation
response; recovery irom illness and surgery, ehmination of loxins;
seif-care practice; and accelerated healing at physical, emolional,
mental, and spiritual levels. NeaLng Touch Interna(ional is a worldwide
certification program for nurses, massage therapists. and all health
care professionals This course is the loundational course which
enahles sNdents ro continue on ro subsequent levels oi classes ihrough
Healing Touch International, leading to an intemaho~al cedification
Ofi7HOPE0IC & SPORTS MASSAGE
Massage Therapy Management of '
Inflammation: The Acute Phase
Through Rehabilitation
Prerequisite: Normalization of Soff Tissue ,
This module deepens [he understanding of lhe inflammatory repair
pmcesses related to irauma and micmtrauma of the soft tissues.
This knowledge is the basis for the development ot appropriate '
mterventwn protocols for optimrzing the healing process and
reNmmg the client to full functional capaciry. This course will feature :
Lymphatic Drainage; Passive Positional Release; Progressive '
Stretching. Progressive Stretching techniques such as Postisometnc
Relaxation and Muscle Energy stretching tecbniques, assisted b~''
lhe therapis6 are demonstrated, in addition to client education i.
self-stretching.
Neurov~~scular Compression Syndrome~
of the Upper and Lower Extremities
Prerequisite: Normalization of Soff Tissue
This motlule fceuses on a wide variery ot clinip~ antl athletic contlition'
which are commonry known as Nearo~rascular Compression
Syndromes ~NVCS). These condi6ons include: Carpal Tunnel '
Syntlrome, Thoracic Outlet Syndrome, Forms of Scia[ica and
'Pseudo-sciatica", Antenor Compartment Syndmme; Pinformis
Syntlrome. ihese NVCS represent a ma~or portion ot the debiUtaUn
sott tissue contlitions which present to the Orthopedic and Sport~
Massage TherapisC A Ihorough understanding ot the anatomy,
pathophysiology, assessment, and lreatment principles is cntical to
the therapisi working wrth other bealth care practitloners in this ~
heltl. ACMT's interdisciphnary approach mcludes building lhe ne
musde, and vascular structures ulihnng the Zoologik Systems°
Maniken'" of KmesNelic Anafomy in Clay. Slutlents leam to recag
the neurological signs and symptoms, uoderlying pathophysiolo
antl eftecuve massage Iherapy management of lhese condmons,
resuiling in relief o( pain, paresthesia, and tlysiunction. '
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' iports Injuries and Dysfiinctions
~f the Cervical Spine and Upper
'xtremiry: Including Frozen Shoulder,
' -Ieadache, and TMJ Dysfunction
~ierequisite: Normalization of Soft Tissue
' fhis dynamic module wtll focus in-depth on the acete and chmnic
~edormance-limiting condtlions of the upper musculoskeletal system.
ihe eNectrve orthopedic massage Iherapist must be a61e to etticiently
decipher ihe specitic soft tissue components involved in neck and
upper extremiry dysfunction. Pertormance limitations can be athletic
in nature or as simple as lhe functional activities of daily livinp.
A thnrough understanding of the anatomy wiil be explored through
,? mensional building using the Zoologik Systems'° ManikenTM.
Funcnonal assessment protocals and ettective treaiment plans will
he leametl forehe following condinons. Frozen Shoulder, Headaches,
' Torticoliis, Whiplash, TMJ Dysfunction; Ro[ator Cutt, Shoulder
~i s locatmn/Dysfunction.
~ Sports Injuries an~l I}ysfunction ~~f the
Lc~~ver Extremiry ,~nd Luinb~~r Spine
~ Pr;:r.aquls~t~ fd,;«r.`;",,vhnn of 5~~9 ~~ssua
, i.,~,J~lu ,.111I~~!~t;~~ rdinp a~iV.v?vob:9%si,n5and
~ ., .. ~~:I 9.i~;'c.~is:~~;ei~i'~n~r;u°s.~pplica6letoJ:sorrleis
!. ~:•;;,er~:•!:zm•;y;t~tllumt7r~p:ne.~dostsports.rer,raahonal,
' m;d nccupaLUnal ahvdizs mquire npf~mal ~unclion of the lovrer
extremihes, pelvis, and lumhar spire Massage therapists can help
' optimize the funchon of this complez kinehc chain. The foot, lo::er
leg, thigh, and pelvis functlon as a single umt in activities as simple
as slantling and as complex as ballet tlancing The stresses placed
' on the lower exhemity cause many ovemse and sports in~unes.
Stutlents leam the specdic massaye managemenl of contlitions
including~ Plantar Fascitis, Low Back Pain Syndromes, Ilmtibial
' Band ~ystunchon, "Shin Splints", Achdles Tentlonihs
PRENATAL, LABOR, POSTPARTUM
MASSAGE THERAPY
Beyond the Basics: Massage for
Healthy to High Risk Pregnancies
Prerequisite: Prenatal Massage and Posipartum
Mossage electtves , '
This module deepens the understanding of the many henefits of
massage tluring healthy and high-risk pregnancies, as well as how
ihese relate to the complex anatomical, physiological, antl emotional
changes of pregnancy. One in five pregnant women faces the
challenges of a high-risk condition or a complication at some point
in her pregnancy, so prenatal massage therapists must he prepared
to safely nurture women through these challenges. The course
focuses on techniques for specific pregnancy comDlamts antl includes
appropnate prenatal body mechanics, and self-care recommendahons.
The motlule also explores the appropriate use of aromatherapy and
spa treatments tlunng pregnancy.
Creative Support fi~r Laboring Women
Prerequisite: 4ih qtr. student
L'sir,g massage therapy for pam management has become a popular
ir.tl ~Necu~.e choice ~or labonng ~.vemen, antl many therapists are
C:9nq askzd ro al;erd hirths Icr their nurturing supporl This module
explores usinp mtmlive touch and specdic techmques and pcsitions
Ihat can « he~;e pam and support the progress ot labor Students
wdl deepen these intwtion sktlls through experiential exercises and
by :vatching and an2lyzing ihe videos of many diflerent rypes of
6irths, prac0ang these suDPort lechniques with classmates, and
teaching an ezpectant couple these techmques in a practice session.
A[horough understanding of the anatomy of [he b~nier a6domen
and peDns will he exploretl through ~hree-dimensional bwiding
using ihe Zoologik Systems' Maniken`".
.:,~~. t::.'
i~*vry ~.5..
~ ~eS~~-'~'k'~S~ '~sna~
.' "°~~~~:,'... Beyond the Belly:
•,~~ Massage for Postpartum Wellness
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Prerequislte: 1000-Hour Mossage iheropy
Cerfiflcate Program or equivalent Prenptal
Massage and Postpartum Massage electives
This course continues to explore the physical challenges and
pairt compiain[s commun ro women m the postpartum periotl and
focuses on techniques and exercises that help stabilize the pelvis;
regain core strength; retluce chronic pain in the hack, neck, shoulders,
and arms due to new6om and IoAdler care and retention of the
pregnancy posture. It will also deepen students' understanding of
the emotional life of a new mother and her relationsNp to her physical
self. SWdents will leam many ways to address pam complaints in a
nurturing, mtuitive way.
SPA ELEMENTS
SCOi1C IVt`155~1~?l'
Prerequisi~e: BCMT graduate oi 4th qt~ student
E~plore 1he earth elr,meN throuqh ihe use ot various igneous and
melamorphic stones. Therapisls vnll gam an underslanding ol the
~r.r.;znt c~itur:tl h~sluries, suUPhes, equipment, and care of massage
•,tunes. A tuY~body hc~ and tcltl stcne massaye vitll inciuCe facial
massage, scaip massa9e, bndy layouts, contr~st therapy, and
enerqy lines
l~CU111.1C~1P.l"8~y
and Herbal Applicatic~ns
Prerequisite: Hydrotherapy
ihis module exploies the therapeutic benefits znd history ot essential
oils and herhs in the spa setting. Guidelines for application, satey
precaulions, ddutions, and relationships to the systems of the body
wdl be discussetl mclutling an in-tlepth Materia Medica. Experiential
techmques such as skin brushing and aroma/herbal wraps will 6wld
Ihe therapisfs anatomicat and physiological understanding of the
integumentary, circulatory, and lymphatic systems. In addition, the
operation and management of a day spa environment will be discussed.
Body Ivtasques
Preiequisite: Hydroiherapy
This module explores ihe elements of eaRh and water through the
study o1 Pelotherapy, Thallosotherapy and Balneology. Student
exchange will include: mud masques and wraps, seaweed wraps,
back treatments, and e~AOliation. Treatmenis will be combined with
the hydrotherapy Wh and Vichy shower.
Student ~ervices
Supportive Leaming Environment
• Peer Tutaring
• Mentorship
Academic Advising
• Faculry Ottice Hours
• Academic Affairs Manager (AAM)
C;treer Scrvices
- Career Coaching and Career Development classes ~
• Placement Assistance
P~rsunal Cu~ins~lin~;
• Confidential counseling sessions available
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Rcfer~ncc Library '
• Equipped wilh health/bodywork books and up-lo-date
hade publications
Wellness I3ookstore
• All of Ihe materials a student will need for studies at BCMT
and ~vork as a protessional massaqe therapist
Student Cumputer Lab
• Available to all students lor research and wnUng purposes
Relc~catic~n Resources
• Housing, roommate, travel resources
I-Icaling Arts Alli<tnce Discuunrs
• Discounts at Southwest AcupuncNre College
and The Rolf Institute sludent clinics
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~ gpC~(y M;N]NTAIN F~-T~ ARTS INSTITOTE
D/S/A
~ BOULDER COLLEGE OF I~,SST,GE TF~RP.PY
(A NONPRL)F'IT ORGANIZATION)
~ OPE ID NO. 03013100
' FINANCIAL STATE[~N'PS
YEAR ENDED DECQ+IBER 31, 2005
~ II~IDEPEI~IDENT AUDITORS' REPORTS
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West & Cor~any
' A Pro£essional Corporation
.,__~; ~: _~ ,ti.w, : ,, r..........~~....~
ROCKY h%)UNTAIId HEALING ARTS INSTIT[Tl~
D/B/A
BOULDER COLLEGE OF NlASSAGE Tf~RAPY
FINANCIAL STA7,~NTS
?EaIDENT AUDITORS' REPORTS
December 31, 2005
CONTENTS
Independent Auditors' Report ..................................... 1.
Financial Statements:
Statement of Financial Position ............................... 2.
Statement of Activities ....................................... 3.
Statement of Cash Flows ....................................... 4.
Notes to Financial Statements ................................. 5.
Supplementary Schedule:
Schedule of Federal Financial Assistance ...................... 11.
Report on Compliance and on Internal Control Over
Financial F.eporting Based on an Audit of
Financial SCatements Performed in Accordance
with Government Auditing Standards ............................ 12.
Report on Compliance with Requirements Applicable
to Major Program and Internal Control Over
Compliance in Accordance With ONIB Circular
A-133 ......................................................... 13.
Schedule of Findinqs and Questioned Costs ........................ 15.
Summary Schedule of Prior Audit Findings ......................... 17.
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West 3c Couipany
, .\ Profcssional Corpnralion
Crrtifird Public.tccuuntunl.f
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P.TD£PFSiCE2]T A(.aITCR9' REPC7AT
'Lo tha Coard oE Girectors,
I'~cky t•:cunt3in Healinq Asts In.~*_itute:
'r;a I:ave acdited the ~.cc:rcanyirg st.~t~r.ent u~ fi, ar.cial position oE Rocky :+oantain
ltealir.g ~~rts Znseitute ii/U/a anul~er Colleqe of t•la~saqe 'Pherapy ("BC'•iT"} (a nor.profit
organizstion) a3 of ~ec~rber 31, 20C5, and r.ha related ~tater.ents of activities ar.d
cash ficus [or the year ~i:~n er.deci. Thesa financial sratu~.ents are t'r.e respensibility
of the CczcT:any's crana,e;;~nt. ~ur respen3ibi11tyr ±s to e:cprees an epinion en these
financial stat~ment~ based un GuY =1dli..
' ~r.~e ccr.uR~cted our audit in accordar~cs aith U.S. ,enerally accepced au3itir.q stanciards
and the standards applicable to fir.ancial a~dits centair.f:ci in Goc2rrmenc Audi.tir.g
Standards, issued by ~l:e CcYptrolier General eP th2 United States. Those scar~ards
, requira that~.~e plan and c2rform the audit ta cbtain reasonable as3urance about xhether
the finai:cial stacEa.ents are frc~s cf material misstateicent. An audit ir.cluces
a:c:~rining, on a test ~asis, avid~nca su~~ortiny tk:a amounts and ciisclasuzes in tha
financfal statements. An audit alyo incluc:es a~8essing the acco~:ntir.g princi~l~9 us4ci
, ar.d significant estL^rates m.sde by ?^vnagemenc, as :aell as evaluating ti?= ocerall
financia~ statercent presan=aticn. itc~ believe chat cur audit DTOJ?G~Z$ a rcasonable
casi:, for cur opinicn.
' in eur cpinion, tl:e financial statements raferred to aboue pxtsenC faicty, i~~ all
material resrects, the financi-31 positicn of 3CdC as oE CeczT.her 3?, 2005, a^d the
' chan~as in its r.at assers an~3 its rash °le:;s for =hQ year tl:er. enc'.~~5 in ccnEormit.y :•riCh
U.S. g~n~raZly acc~pt~d acc~untirq prir,ciples.
Ir ~yccordance :+itrt Goverrsent A~.:diCir.g St3ndards, :de h~ve .31so iss~ed a reno:t c4~t~d
' =+.i~.U3~~f ~y~ ~Ql;fi~ OI~ nllt CC.^.31f:2I~1L~CC1 CL ~~11~~5 iCit3[~11C c:Of:rCOl O'+~C Lll1R11Cldl
CCportirn7 'uliC~ O~J1" f~:iC.B OI lf.:S CC+T~1.~'.fYCE: W1C}3 Cc:C.dlil ~IC'J1.3101'i3 OL ).a1i1S~ ~yrfll~.3L ^t..Z~
t~qnCC3CC3 .3I1C~ L~Y87:C3.
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vl1C d'1..~1'. LJ33 :C3l:A tOY l.'td C~l:1ti::~@ Of i02~.':li:Q ~.SII C(J1S11UA bIl Cfl^ [~:S9Ll: Cl,f*.~2pCld~
JtdtC:.".ciP.~3 CC i~~,":3~r ~il:!::(1 ?-9 ~3 rY.Q1.~°_. ~r~:2 3C~G^^dRfS.f~~ 3C"s2Lll3.0 02 ex~endi:ures Ot
cec:eral a:ti3Z•=1~ =•S L:23Elltcv iv. y~liT~G~07 CI .3G.~'~i~~CCl]S 3::1?y319 u3 LC~.:LL'3.~ D`f (J.$.
Of~ico ~i t'ar._:j_^ent ~:d C~r~~~ Circular r~ 133, ,lcditJ of Stat;s, Gcaii Co•:erru~~~3nt:,.
ul;C~ i'~.n-Pro.1C G.T~3Y11_,7C~C77S~ =i:1~ 19 .^.O~ a rec~uirf3d ~~YC OY C.h.O t~%1~tC fir.an~:iA~
:~ta~=_n,ents. Such infr~ccration has ceen suujecrxl to tne au~itir.3 ~rcce:tures -aF~lied in
t'r.e ~3~.idic ~f the bayic eir...-~ncial ~rat:r.ent~ ar.d, i.n our cpi~~icti, is E.airly 3~dt:.~ci, iri
dll ;1L]L21'.13L Y?3G~9CC3~ ill C2~dC1Ci1 t0 t:lc'' ~.'731C =11~iC;cl1 JtdC~u7f.::.'iC5 :]'r.^71 %!S 3'.~7:OZC.
' ~,~bc~,,-,1 f 1:, 2ijr)3
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1~~~~~ ~ ~P~t,+.~,~~~~,~~( ~--
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(lU~79 i')-'173U -?')3~ ~A.ri'. 50' ~t., Uklal~oma t~ity, OK 7Ji t3
ROCKY MJUNTAIN FiEALING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF h~SSAGE TfIERAPY
STATII~T~'P OF FINANCIAL POSITION
Decesnber 31, 2005
ASSETS
G~rrent Assets:
Cash
Investments
Accounts receivable, less allowance
for doubtful accounts of $19,028
Inventory
Prepaids
Tota1 current assets
Property and EquiFanent, net
Other Assets
LIABILITIES At~ID NET ASSETS
~rrent Liabilities:
Accounts payable
Accrued liabilities
Deferred tuition revenue
Current maturities of lonq-term debt
Total current liabilities
Lonq-Tezm Debt, net of current maturities
Net Assets, unrestricted
$ 80,182
304, 601
968,282
65,737
10,892
1,929,694
693,126
58,732
$ 2,181,552
S 28,571
99,469
1,001,250
172,901
1,251,691
111,680
818,181
$ 2,181,552
The accompanying notes are an integral
part of these financial statements.
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ROCKY h~UNTAIN F~'.ALING ARTS INSTITUTE
D/B/A
BOUI~DER COLLEGE OF MASSACE THERAPY
STATII~N'P OF ACTIVITIES
For the Year Ended December 31, 2005
Revenues:
~ Tuition and fees $ 2,330,293
Bookstore revenue 236,625
Clinic revenue 183,322
Interest and other 42,692
Total revenues 2,792,932
Costs and Expenses:
Employee salaries, taxes and benefits 1,712,055
Occupancy 430,735
Bookstore expenses 181,499
Student services 141,196
General and administrative 199,952
Recruitment 119,366
Depreciation and amortization 73,877
Interest expense 27,089
Total costs and expenses _ 2,885,269
Decrease in Net Assets (92,337)
Net Assets, Beginning of Year 910,518
Net Assets, End of Year $ 818,181
The accompanying notes are an integral
part of these financial statements.
ROC3CSC NK)UNTAiN HEALING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF hIASSAGE Tf~RAPY
STATII~:N'P OF CASH FLOWS
For the Year Ended Dece~iber 31, 2005
Cash flows used by operatinq activities:
Decrease in net assets $ (92,337)
Adjustlnents to reconcile decrease in net
assets to net cash used by operating
activities-
Depreciation and amortization 73,877
Unrealized gain on investments (12,389)
Investment dividends reinvested (5,730)
(Increase) decrease in:
Accounts receivable 70,881
Inventory 11,186
Prepaids 5,652
Increase (decrease) in:
Accounts payable (37,934)
Accrued liabilities (30,089)
Deferred tuition revenue (55,558)
Net cash used by operating activities (72,441)
Cash flows used by financing activities:
Debt borrowing 60,000
Debt payments (199,231)
Net cash used by financing activities (89,231)
Net dzcrease in cash (161,672)
Cash, beginning of year 241,854
Cash, end of year $ 80,182
Supplemental Disclosure:
Cperating activities reflect interest paid of 527,089.
The accompanying notes are an integral
part of these financial statements.
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' RCK'!CY NY)UNTAIN HEAI~ING ARTS INSTITUTE
D/B/A
, BOULDER COLLEGE OF MASSAGE Tf~RAPY
NOTES TO FINANCIAL STATII~~N'PS
' Decesnber 31, 2005
NOTE 1- SUt~Y~IARY OF SIGNIFIC.ANT ACCOUNTZNG POLICIES:
' Orqanization and Nature of Business
, Rocky Mountain Healing Arts Institute d/b/a Boulder College of
Massage Therapy (the "Company") is a Colorado nonprofit corporation
chartered in 1975. The Company is primarily engaged in post-
' secondary education and training, with certificate and associates
degrees offered in massage therapy programs.
' Accounts Receivable and Econ~nic DependencY
Accounts receivable represent outstanding balances due from
t students. An allowance for doubtful accounts has been established
to reserve for accounts receivable amounts deemed to be
uncollectible by management.
' A significant portion of the Company's revenues are provided by
students who participate in government financial aid programs. In
connection with this participation, the Company is subject to rules
' and regulations promulgated by the U.S. Department of Education.
Failure to comply with the terms and provisions of this
participation could lead to suspension or termination of the
' Company's ability to participate in government financial aid
programs and consequently, may adversely affect the Company's
operations. Management believes that the Company is in compliance
~ with such rules and regulations.
Use of Estimates
' The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
' and assumptions that affect the amounts reported in the financial
statements and accompanying notes. Actual results could differ from
those estimates.
Investments
The Company has adopted SFAS No. 129, "Accounting for Certain
' Im~estments Held by Dlot-For-Profit Organizations." Under SFAS Pdo.
129, investments in marketable securities<<~ith readily determinable
fair values and all imiestments in debt securities are reported at
' their fair values in the statement of financial position.
Unrealized qains and losses are included as changes in net assets
in r_he statement of activities.
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NOTES TO FII3ANCIAL STATEMEN'PS (continued)
December 31, 2005 '
Property and Equipment ,
Property and equipment are stated at cost. Depreciation is provided
using the straight-line method over the estimated useful lives of ,
the classes of property and equipment, ranging from 3 to 7 years.
Amortization of leasehold improvements is provided using the
straight-line method ranging from "l to 20 years.
Revenues and Costs ~
Tuition revenues are recognized ratably over the academic period of ,
the respective student. Educational and advertising costs are
reflected in expense as incurred.
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Deferred Tuition Revenue
Deferred tuition revenue in the accompanying statement of financial
position represents the
portion of tuition
attributable to £uture ,
educational services to be performed.
Inc~ne Taxes
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The Company is exempt from Federal and state income taxes under '
Section 501(c)(3) of the Internal Revenue Code. Accordingly, no
provision for taxes has been made in the financial statements.
Concentration of Credit Risk
During the year ended December 31,
balances in banks in excess of
Geposit Insurance Corporation.
Financial Instruments
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2005, the Company maintained cash ,
amounts insured by the Federal
The carrying value of current assets and liabilities reasonably
approximates their fair value due to their short maturity periods.
The carrying value of the Company's debt obligations reasonably
approximates their fair value as the stated interest rate
approximates current market interest rates of dzbt with similar
terms.
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NOTES TO FI2~NCIAL STATII~NTS (continued)
, December 31, 2005
' NCYrE 2 - IN~7ESTN~]'PS
The Company's investments consist of mutual funds. Aggregate cost
' basis for these mutual funds is $350,179 as of December 31, 2005.
The aggregate unrealized loss for these mutual funds is $45,578 as
of December 31, 2005.
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NCYl~ 3- PROPERTY AbID EQUIPNIEN'P
' Property and equipment consists of the following as of December 31,
2005:
' Leasehold improvements $ 1,130,239
Furniture and equipment 439,590
' Library ____ 12,617
1,582,446
Less accumulated depreciation
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and amortization -----__----
(889,320)
S 693,126
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t NOTE 4- IANG-TERM DffiT
Long-term debt consists of the following as of December 31, 2005:
' Pdote payable to bank; interest based
on bank's prime rate plus .5%,
t currently at 7.75o per annum;
principal and interest due in full
on June 30, 2007; collateralized by
a security interest in Company
' assets S 60,000
Note payable to bank; monthly
' principal and interest payments of
53,634; interest at 7.5% per annum;
due in full in December, 2006,
collateralized by a security
' interest in Company assets 91,384
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NOTES TO FINANCIAL STATE[~N'PS (continued)
, December 31, 2005
' NOTE 5 - OPERATING LEASE (continued)
year endinq December 31,
' 2006 $ 220,107
2007 111,699
, $ 331,806
' Rent expense under this operating lease totaled $213,684 for the
year ended December 31, 2005.
~ NOTE 6- F2+8IAYEE BIIdEFIT PI,AN
' The Company sponsors a 403(b) tax deferred annuity plan (^the
plan"). Pursuant to the plan, eligible employees may elect to make
contributions under a salary reduction agreement. The Company makes
' a matching contribution of $.50 for each $1.00 the employee
contributes limited to the first 6~ of the employee's contribution
to the plan. In addition, the Company, at its discretion, may
' contribute additional amounts to the plan. The Company's matching
contributions to the plan totaled $7,337 for the year ended
December 31, 2005.
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ROCKY MOUNTAIN HEALING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
SCHEL)ULE OF FEDERAL FINANCIAL ASSISTANCE
FOR THE YEAR ENDED DECENIDER 31, 2005
Federal Federal
Grantinq CFDA
AvenCy Number
U.S.D.E.* 84.032 Federal Family Education Loan
Program (FFEL)
U.S.D.E.* 84.063 Federal Pell Grant Program (PELL)
Total
* United States Department of Education
Federal
Awarda
Expenditvree
S 1,315,989
130,704
$ 1,996,693
Basie of Presentation
The aforementioned programs are considered one clUSter for determination of major
programs. The schedule reflects Federal Financial Assistance disbursed (net of refundsJ
during the year ended December 31, 2005.
~Vest ~c Cumpany '
A Professionaf Corporation
CrrNj7ad Pnbfk.icraa~im+ut '
R£PCRT CN CQdPLIANCE AI~D CN II7TEPh7~L CGLlfROL WF~t FI:ANCIAI. '
i.EPOFTItiCi BASID CN AN }4UDIT 08 FTt~ICL'~t, STATF2LNTS FERFCF:-ff:D IN 11CCCRDAtSCE T~lI1ii
(3GVf'.RlC~gS7T .1W ITINO STAY~31PD3 '
To tl:a 3casd Gf DL!CCrpry~
k2ocky t;ountain ~eali~:g P.~ts Snstitu:o: '
;d~ have aLtiiitad the finar.cial stater,:ents of aocky ;dounCaln Healit:g Arts Instituts 3/b/a
f:~ulder Coller,fl of ~iassage T::arapy ("HCt•YC") Sa r.onprofit orqanization) as of and for the
y~zar a~~ed Dec~er 31, 2005, and have issued our report Cner~on dated February 29, '
20Q5. 54e cendu~t~d our audir. !n accorcar:ce .rith U.S. gener311y accEpted auditir.g
srandards and tl:e star.dards app11c~1e to financial audita crontained in Govarrm.er.t
.~~diting Star,d3rds, issut.d by the Car:ptroller Cer.eral oi tho l;n+_ted States. ,
Cocmliance
As part of o'ntaininq seascnabLa assurarce about ~het~:er FFsGG+7T's financial St~t~t:ents are
free of r.aterial misstate~cznt, ~~~e perfczr.~~ tests oE its ccr.~Liance with certain '
pra~~isicns cf la~:s, =~gulacion~, contracCS ar.d granLS, noncc~c-.~pliance with :~hich crould
have a direct and ;raterial eCfect on the ~et~rmination oE finoncial sta~err~nC amour.ts.
Hcu.~ever, providing an cpinion on compliancc~ +~+ieh those proviaions :~ras not an cbjective '
oi cur c3udit and, accerdingly, .~e do r.ot e.~press such an ~~pinian. T~e results oY oi:r
te.sCS discLos2d no ir.stanc2s ci noncc~~ liar,c~ that are raquir<d to ~e reported under
c;ov~~rn~xent Audltfr.g Stae~c~zt~is.
intcrnal Control Urer 8inancial Rccortina '
Tn plannir.g and Ferfo`nir.q our audit, ~~e cronsic.eeed BC`4T's internal control ever
iinartcial reFortin:7 in order to detezmtne cu= a.iditinq prncedur~s for Che pucpose of ,
:;cpressir.g our cpinicn an the iir..:~ncial ~tate~rent9 antl r,ot to proviCed assuraace cn the
~ac:rnal cantrol ov~.r fin,~ncial reForting. C~ur con,^ideration oE the internal r.nntrol
o~.;;r fir.ar.cial rec.~~rCir.g ~,:ou1d r.ct r.4:eysarily di:~cl:,se all n.stters in r.i-.a ±r.T.~rnal '
~x^:roi ovor fin~~nci:~l r~(aarr.inq that ~~tyht ta „a~arial ~~reakr.esses. A;;~Ce_ial
~::ea~c::ess is .a ccnditicn i~1 :vhi~h Cl:o desi,n or cE:~:r~Cion oY ot:e or r~ore of the inte.nal
CrIlCi01 CC•!f~{;OISCT'it8 S~CL'3 '.CC Ll":t~U4'A T_O 3 T~~ ~?t1V@.~~/ IGld ~,t~Vt~l ~,f1~ ,~, 15:C L'.7..7C
:tl1.~y!'.~~~n~idllC$ ~~l df~ALl'~t3 C'(lA~'nOlii+~ .81C.3tCrltil .if: t~,l»C1U:1 Y,Q C:.°_ f!nancil.L .iC.3~Cf''17t1 '
]:aing a~:dlt~ may cccur ar.d r;ot t;e de~~cted •,rtni; a ti^~eiy c+~riod by c;rnplo•~c:e:'s i.i ti:e
r.or.~n:il course pf perCantting taeir assigr.r_c~ Eu:,ctions. t•7~ r.oCed no matter3 invo!=r±^g
the i^ternzl ccntr.nt cvcr Cir.anr.i.i1 repurti~g and its creration ch~r. •.c~ c;~i;~ide: r.;~ ka ,
:^~~~(yCL3~. 'n~P.3i:t72SS2:3.
fhis reiurt is intar.de~3 :or tha infr~z~n:aticn cF !r,3na<3e:r.ertk ard Eac;eral a~+ardir.~
uCJUriCl~3. i{Ci'.:'L`:CY~ Cill3 C~..;:OtL L;i .l matter of ^~:k:i;.r_ record a:xi 1C3 C~1$CCiCUC1.077 15 '
ilt7r limit2!.~.
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West & Company
' A Professional Corporation
/' ~tiiJled Public ~Icrmuilunfs
' AEPORT ON C~LIANCE WITH RES2UIRII~~N'rS APPLICP.BLE TO t~.JOR
PROGRAM AND ZNTERNAL CONTROL WER CC2~LIANC~ IN ACCORDANCE WITH
Ct~ID CIRCUI.AR A-133
1 To the Board of Directors,
Rocky Mountain Healing Arts Institute:
' Cort~liance
We have audited the compliance of Rocky Mountain Healing Arts Institute d/b/a Boulder
, College of Massage Therapy ("BCMT") with the types of compliance requirements described
in the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance Supplement
that are applicable to its.major federal program for the year ended December 31, 2005.
BCMT's major federal program is identified in the accompanying Schedule of Findings and
, Questioned Costs. Compliance with the requizements of laws, regulations, contracts and
grants applicable to its major federal program is the responsibility of BCMT's
management. Our responsibility is to express an opinion on BCf?f's compliance based on
' our audit.
We conducted our audit of compliance in accordance with U.S. generally accepted
auditing standards; the standards applicable to financial audits contained in
' Government Auditing Standards, issued by the Comptroller General of the United States;
and OMB Circular A-133, Audi.ts of States, Local Governments, and Non -Profit
~rqanizations. Those standards and OMB Circular A-133 require that we plan and perform
, the audit to obtain reasonable assurance about whether noncompliance with the types of
c~.'pliance requirements referred to above that could have a direct and material effect
c.~ a major federal program occurred. An audit includes examining, on a test basis,
evidence about BCMT's compliance with those requirements and performing such other
' ,..~^cedures as we considered necessary in the circumstances. We believe that our audit
pi~vides a reasonable basis for our opinion. Our audit does not provide a legal
datermination on BCMT's compliance with those requirements.
' In our opinion, BC'~IT complied, in all material r2spects, with the requirements referred
to ai~ove that are applicable to its major federal program for the year ended
December 31, 2005.
~ Internal Control Over Ca~liance
The management of BCNPP is responsible for establishing and maintaining effective
' internal control over compliance with requirements of laws, regulations, contracts and
grants applicable to its federal programs. In planning and performing our audit, we
considered BCMT's internal control over co~liance with requirements that could have
a direct and material effect on its major federal program in order to determine our
' auditing procedures for the purpose of expressing our opinion on compliance and to test
and report on internal control over wmpliance in accordance with Ot~ID Circul3r A-133.
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Cur .^.onsid~ration of t1:o intcrr•il ~:cnrrol over ccr:,o~iynca s:ould not r.ecass~~rity
disclose all ~n~~tCCrs in [he inte:nal control that niqhC Le ir,~t~~rial •.;aa%reas~~s. A '
;naterial :aea'tnzss is a ccrdition in which the design or oreraticn of ene or r,wre oC the
interr.~l control 4om~%oiients dees not rech:ca to a relativ~~ly lo:,r level t. e risk that
nor.cemnliance :+lth applicable requir:anents of laws, requlaticns, ~c,ntracr.s arui qrants
ck^at would be material 1n relation to a major iederal pra3ra~n teing acdi~ed may c,ccur ,
ar.d not te detect~~d within a ti~ ~ely period by e,~nployees in th~s nornal ccurse ot
perfocming their assl9ned funccions. ~~'e noted r.o matters Lnvolvinq the internal
control over car,plianca and iCS cperation that :Je consider to L•e material ~aeaknesses. '
This reFort is in~enc?ed for cha information of ;n<inag~ment and fecteral zwarding
a~~ncies. N.cti:e~~er, this zeport is a:nacter of public record ar.d its distributien is
not limited. '
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F~bruary 24, 2006 ~
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ROCKY MOUNTAIN HEALING ARTS INSTITUTE
' D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
' SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED DECEMBER 31, 2005
' Section I- Siu~¢nary of Auditors' Results
Financial Statements
, Type of auditors' report issued
Internal control over financial reporting:
~ Material Weakness(es) identified?
Reportable condition(s) identified
not considered to be material
weaknesses?
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Noncompliance material to financial
statements noted?
Federal Awards
Internal control over major programs:
Material weakness(es) identified?
Reportable condition(s) identified
not considered to be material
weaknesses?
Type of auditors' report issued on
compliance for major programs:
Any audit findings disclosed that are
required to be reported in accordance
with Circular A-133, Section .510(a)?
Identification of major programs:
Federal
CE'DA
Unqualified.
No.
None reported.
No.
No.
~one reported.
Unqualified.
No.
Number Name of Federal Proqram or Cluster
Cluster - Federal Student Einancial Assistance Programs:
Auditee qualified -as low-risk auditee? No.
84.032 Federal Family Education Loan Progr,sm (FFEL)
84.063 rederal Pell Grant Program (PELL)
Dollar threshold used to distinguish betwezn
Tlpe A and Tyne B prcgrams: $ 300,000.
,~
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED DECEbIDER 31, 2005
(continued)
Section II - Financial Statement Findings
No matters were reported.
Section II2 - Federal Award Findinqs and Questioned Costs
No matters were reported.
16.
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, ROCKY MOIINTAIN HEAI,ING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
1 S[]NA7ARY SCHEDULE OF PRIOR AUDIT FINDINGS
YEAR ENDED DECEMBER 31, 2005
' There were no findings from the prior audit.
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ROCKY MOUNTAIN HEALING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
(A NONPROFIT ORGANIZATION)
OPE 03013100
FINANCIAL STATEMENTS
YEAR ENDED DECEMSER 31, 2004
INDEPENDENT AUDITORS' REPORTS
West 6 Company
A Professional Corporation
Certified Public Accountants
ROCKY MOUNTAIN HEALING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
FINANCIAL STATEMENTS
INDEPENDENT AUDITORS' REPORTS
December 31, 2004
CONTENT3
Independent Auditors' Report 1•
Financial Statements:
Statement of Financial Position 2•
Statement of Activities 3•
Statement of Cash Flows 4.
Notes to Financial Statements 5.
Supplementary Schedule:
Schedule of Federal Financial Assistance 11.
Report on Compliance and on Internal Control Over
Financial Reporting Based on an Audit of
Financial Statements Performed in Accordance
with Government Auditing Standards 12.
Report on Compliance with Requirements Applicable
to Major Program and Internal Control Over
Compliance in Accordance With OMB Circular
A-133 13.
Schedule of Eindings and Questioned Costs 15.
Summary Schedule of Prior Audit Findings 17.
'
' West & Company
A Professionai Corporation
Ce~iJirJ Pu6/!c Acca~mrants
'
INDEPENDSNT AUDI2UR4' RETORT
' To the Hoard of Directors,
Rocky Mountain Healirig Art9 Institllte:
' We have audited the accompanying statement of financial position of Rocky Mountain
Healing Arts institute d/b/a Boulder College of Massage Therapy ("BQ•fT")(a r~nprofit
organization) as of December 31, 2004, and the related statements of activities and
' cash flows for the year then ended. These financial statements are the responsibility
of the Cort~any's maz~agement. Our responsi.bility is to express an opinion on these
financial statements based on our audit.
' We conducted our audit in accos•dance with U.S. generally accepted auditix~ standards
and the standards applicable to financial audita contained in Governtnent Auditing
Standards, issued by the Corcq~troller General of the United States. Those standarde
, require that we plan and perfosm the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An audit includes
pxamining, on a test basie, evidence supporting the amoimts and disclosures in the
financial statements. An audit also includes assesaing the accounting principles used
and significant estimates made by management, as well as evaluating the overall
financial statement presenCation. We believe that our audit prwidea a reasonable
basis for our opinion.
In our opinion, the financial atatements referred to above present fairly, in all
material respects, the financial position of BCMT ae of December 31, 2004, and the
changes in its net assets and its cash flows for the year then ended in confoxmity with
U.S. generally accepted accounting principles.
in accordance with Governrnent Auditing Standards, we have also issued a report dated
June 10, 2005, on our ccnsideration of HCMi"s internal control over financial reporting
and our tests oE its co~liance with certain provisions of laws, regulations, contracta
and 9rants.
Our audit was made for the puroose of fornung an opinion on the basic financial
statements of BCI~ri' taken as a whole. The acca~anying schedule of expenditures of
federal awards is presented for pw.~oses of additional analyeis as required by U.S.
Office of Management and Bud9et Circular A-133, Audits of States, Local Governments,
and Non-Profit Organizations, and is not a required part of the basic financial
statementa. Such information has been subjected to the auditing procedures applied in
the audit of the basic financial statements and, in our opinion, is fairly stated, in
all material respects, in relation to the basic financial statementa taken as a whole.
~~YC
June 10, 2005
l.
~i (4D5)9J9-J730 -2938 N.W. 50'" St., Oldahoma Ciry, OK 7Jll2
'~
ROCKY MOUNTAIN HEALING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
STATEMENT OF FINANCIAL POSITION
December 31, 2004
ASSETS
Current Assets:
Cash
Investments
Accounts receivable, less allowance
for doubtful accounts of $19,028
Inventory
Prepaids
Total current assets
Property and Equipment, net
Other Assets
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable
Accrued liabilities
Deferred tuition revenue
Current maturities of long-term debt
Total current liabilities
Long-Term Debt, net of current maturities
Net Assets, unrestricted
The accompanying notes are an integral
part of these financial statements.
$ 241,854
286,462
1,039,163
76,923
16,544
1, 660, 966
764,992
60,794
S 2,486,702
$ 66,505
79,558
1,056,809
199,293
1,352,165
229,019
910,518
$ 2,986,702
2.
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, ROCKY MOUNTAIN HEALING ARTS INSTITUTE
D/$/A
SOULDER COLLEGE OF MASSAGE THERAPY
I
STATEMENT OF ACTIVITIES
For the Year Ended December 31, 2004
'
Revenues:
Tuition and fees
' Sookstore revenue
Clinic revenue
Unrealized gain on investments
' Interest and other
Total revenues
' Costs and Expenses:
Employee salaries, taxes and benefits
Occupancy
' Bookstore expenses
Student services
General and administrative
, Recruitment
Depreciation and amortization
Interest expense
' Bad debt expense
Total costs and expenses
, Increase in Net Assets
Net Asseta, Beginning of Year
'
Net Assets, End of Year
'
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~ The accompanying notes are an integral
part of these financial statements.
3.
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$ 2,849,020
316,774
211,569
15,713
35,725
3,928,796
1,982,185
425,394
264,533
189,306
244,446
140,332
91,145
39,662
8,640
3,381,043
97,753
862,765
$ 910,518
'
ROCKY MOUNTAIN HEALING ARTS INSTITUTE '
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY '
NOTES TO FINANCIAL STATEMENTS
December 31, 2004 ,
NOTE 1- SUMMP.RY OF SIGNIFICANT ACCOUNTING POLICIES:
Oraanization and Nature of Business ,
Rocky Mountain Healing Arts Institute d/b/a Boulder College of
Massage Therapy (the "Company") is a Colorado nonprofit corporation '
chartered in 1975. The Company is primarily engaged in post-
secondary education and training, with certificate and associates
degrees offered in massaqe therapy programs. ,
Accounts Receivable and Economic Dependenc~y
Accounts receivable represent outstanding balances due from '
students. An allowance for doubtful accounts has been established
to reserve for accounts receivable amounts deemed to be
uncollectible by management. '
A significant portion of the Company's revenues are provided by
students who participate in government financial aid programs. In ,
connection with this participation, the Company is subject to rules
and regulations promulgated by the O.S. Department of Education.
Failure to comply with the terms and provisions of this
participation could lead to suspension or termination of the '
Company's ability to participate in government financial aid
programs and consequently, may adversely affect the Company's
operations. Management believes that the Company is in compliance '
with such rules and regulations.
Use of Estimates '
The preparation of financial statements in con£ormity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the amounts reported in the financial '
statements and accompanying notes. Actual results could difPer from
those estimates.
Investments ,
The Company has adopted SFAS No. 124, "Accounting £or Certain '
Investments Held by Not-For-Profit Organizations." Onder SFAS No.
124, investments in marketable securities with readily determinable
fair values and all investments in debt securities are reported at
their fair values in the statement of financial position. '
Unrealized gains and losses are included as changes in net assets
in the statement of activities.
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' NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2004
' Propertv and Equipment
Property and equipment are stated at cost. Depreciation is provided
' using the straight-line method over the estimated useful lives of
the classes of property and equipment, ranging from 3 to 7 years.
Amortization of leasehold improvements is provided using the
, straight-line method ranging from 7 to 20 years.
Revenues and Costs
, Tuition revenues are recognized ratably over the academic period of
respective student. Educational and advertising costs are
the
, .
reflected in expense as incurred.
Deferred Tuition Revenue
Deferred tuition revenue in the accompanying statement of financial
' position represents the portion of tuition attributable to future
educational services to be performed.
' Income Taxes
The Company is exempt from Federal and state income taxes under
' Section 501(c)(3) of the Internal Revenue Code. Accordingly, no
provision for taxes has been made in the financial statements.
' Concentration of Credit Risk
During the year ended December 31, 2004, the Company maintained cash
balances in banks in excess of amounts insured by the Federal
' Deposit Insurance Corporation.
' Finaneial Instrumenta
The carrying value of current assets and liabilities reasonably
approximates their fair value due to their short maturity periods.
' The carrying value of the Company's debt obligations reasonably
approximates their fair value as the stated interest rate
approximates current market interest rates of debt with similar
' terms.
'
6.
'
NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2009
NOTE 2 - INVESTMENTS
The Company's investments consist of mutual funds. Aggregate cost
basis for these mutual funds is $344, 396 as of December 31, 2004.
The aggregate unrealized loss for these mutual funds is $57, 919 as
of December 31, 2004.
NOTE 3- PROPERTY AND EQUIPMENT
Property and equipment consists of the following as of December 31,
2004:
Leasehold improvements S 1,130,239
Furniture and equipment 439,590
Library 12,617
1,582,446
Less accumulated depreciation
and amortization (817,504)
S 764,942
NOTE 4 - LONG-TERM DEBT
Long-term debt consists of the following as of December 31, 2009:
Note payable to bank; monthly
principal and interest payments of
$3,634; interest at 7.5% per annum;
due in full in December, 2006,
collateralized by a security
interest in Company assets
Note payable to corporation; monthly
principal and interest payments of
$8,817; interest at 9.375g per
annum; due in full in June, 2007;
collateralized by security interest
in Company's leasehold improve-
ments
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$ 80,699
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2004
NOTE 4 - LONG-TERM DEBT (continued)
Note payable to corporation; monthly
principal and interest payments of
$2, 242; interest at 10~ per annum;
due in full in June, 2007;
coiiatexalized by security interest
in Company's leasehold improve-
ments
Other
Less current maturities
59,293
9,075
373,312
(149,293)
$ ~224,019
Aggregate maturities of long-term debt at December 31, 2009, are as
follows:
Year endin~December 31
2005 $ 149,293
2006 172,397
2007 51,622
$ 373,312
In addition, the Company has a line-of-credit of $70, 000 with a bank
which expires June 30, 2007. There is no outstanding balance on
this line-of-credit as of December 31, 2004.
8.
NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2009
NOTE 5 - OPERATING LEASE
The Company leases its school facility under an operating lease.
The following is a schedule by years of future minimum rental
payments required under the operating lease, which expires in June,
zoo~:
Year ending December 31.
2005 $ 213,689
2006 220,107
2007 111,699
$ 545,490
Rent expense under this operating lease totaled $207,575 for the
year ended December 31, 2004.
NOTE 6- EMPLOYEE BENEFIT PLAN
The Company sponsors a 903 (b) tax deferred annuity plan ("the
plan"). Pursuant to the plan, eligible employees may elect to make
contributions under a salary reduction agreement. The Company makes
a matching contribution of $.50 for each $1.00 the employee
contributes limited to the first 6~ of the employee's contribution
to the plan. In addition, the Company, at its discretion, may
contribute additional amounts to the plan. The Company's matching
contributions to the plan totaled $6,724 for the year ended December
31, 2009.
9.
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ROCKY MOUNTAIN HEALING ARTS INSTITUTE
D/H/A
BOULDER COLLEGE OF MASSAGE THERAPY
SCHEDULE OF FEDERAL FINANCIAL ASSZSTANCE
FOR THE YEAR ENDED DECEMBER 31, 2004
Federal Federal
Granting CFDA
Aaencv Number
U.S.D.E.' 84.032 Federal Family Education Loan
Program (FFEL)
U.S.D.E.* 84.063 Federal Pell Grant Piogram (PELL)
Total
' United States Department of Education.
Federal
Awaxds
Exoendituree
S 1,337,922
132,819
S 1,970,741
Hasis of Presentation
The aforementioned programs are considered one cluster for determination of major
programs. The schedule reflects Federal Financial Assistance disbursed (net of refundsl
during the year ended December 31, 2004.
11.
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West & Company
A Professional Corporation
CrrtificJ Public.fccmu~tana
REPORT ON OOt~LIANCS ADID ON IISi'ERt~4:L CONTROL OVER FINANCIAL
REPORTING BASID ON AN AUDIT OF FINANCIAL STAT~ATPS PERFORMED IN ACCORDANCB WITH
GOV6RIA~I7T AITDITINC~ 3TADIDARD3
To the Board of Directors,
Rocky Mountain Healing Arts Institute:
We have audited the financial statements of Rocky Mountain Healing Arts Institute d/b/a
Boulder College of Massage Therapy ("BCMT")(a nonprofit organization) as of and for the
year ended December 31, 2004, and have iasued our report thereon dated June 10, 2005.
We conducted our audit in acwrdance with U.S. generally accepted auditing standarda
and the standarda applicable to financial audita contained in Government Auditing
Standards, issued by the Co¢~g~troller General of the United Statea.
C~liance
As part of obtaining reasonable aesurance ahout whether BCMf's financial statements are
free of material misstatement, we performed teate of ita ccmg~liance with certain
pmviaions of laws, regulations, contracts and grants, nonccxnpliance with which could
have a direct and material effect on the detezmination of financial statement amounts.
However, providing an opinian on ccrtq~liance with those provieions was not an objective
of our audit and, accordingly, we do not expresa such an opinion. The resulte of our
testa disclosed no instancea of noncoc~liance that are required to be reported imder
GovernmP.nt Auditing Standarrls.
Intemal Control Over Financial Reportina
In planning and perfoxming our audit, we considered BCMT's internal control over
financial reporting in order to deternune our auditing procedures for the purpoae of
e~cpressing our opinion on the financial statements and not to provided asaurance on tkie
internal control wer financial reporting. Our coneideration of the internal control
over £inancial reporting would not necessarily discloae all mattera in the intexnal
control over financial reporting that mi9ht be material wealmeases. A material
wealmess is a condition in which the deaign or operation of one or ~re of the internal
control co~onents dces not reduce to a relatively low level the risk that
misstatements in amounts that would be material in relation to the financial statementa
being audited may occur and not be detected within a timely period by ertg~loyees in the
nornial course of performing their assi~ed functione. We noted no matters imrolving
the internal control over financial reporting and its operation that we consider to be
material wealmesses.
This report is intended for the inforn~ation of rt~nager~nt and federal awarding
agenciea. However, this report is a matter of public record and its distribution is
not limited.
t June 10, 2005
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12.
(405) 949-9730 - 2938 N.W. 50'" St., Oklahoma City, OK 7J112
West & Company
A Professional Corporation
Cerlifird Public Accuwnnnts
REPORT ON C02~LIANCE WITH REQUIREMENTS APPLICASLE TO MAJOR
PROGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH
OhID CIRCULAR A-133
To the Board of Directors,
Rocky Mountain Healing Arts Institute:
Comoliance
We have audited the compliance of Rocky Mountain Healing Arts Institute d/b/a Boulder
College of Massage Therapy ("BCMT") with the types of compliance requirements
described in trie U.S. Office of Management and Budget (OMB) Circular A-133 Compliance
Supplement that are applicable to its major federal program for the year ended
December 31, 2009. HCMT's major federal program is identified in the accompanying
Schedule of Findings and Questioned Costs. Compliance with the requirements of laws,
regulations, contracts and grants applicable to its major federal program is the
responsibility of BCMT's management. Our responsibility is to express an opinion on
BCMT's compliance based on our audit.
We conducted our audit of compliance in accordance with U.S. generally accepted
auditing standards; the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States;
and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit
Organizations. Those standards and OMB Circular A-133 require that we plan and
perform the audit to obtain reasonable assurance about whether noncompliance with the
types of compliance requirements referred to above that could have a direct and
material effect on a major federal program occurred. An audit includes examining, on
a test basis, evidence about BCMT's compliance with those requirements and performing
such other procedures as we considered necessary in the circumstances. We believe
that our audit provides a reasonable basis for our opinion. Our audit does not
provide a legal determination on BCMT's compliance with those requirements.
In our opinion, BCMT complied, in all material respects, with the requirements
referred to above that are applicable to its major federal program for the
year ended December 31, 2009.
Internal Control Over Comoliance
The management of BCMT is responsible for establishing and maintaining effective
internal control over compliance with requirements of 1aws, regulations, contracts and
grants applicable to its federal programs. In planning and performing our audit, we
considered BCMT's internal control over compliance with requirements that could have
a direct and material effect on its major federal program in order to determine our
auditing procedures for the purpose oi expressing our opinion on compliance and to
test and report on internal control over compliance in accordance with OMB Circular
A-133.
13.
(JOS) 949-9730 - 2938 N.W. 50'" SL, Oklahoma City, OK 73112
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' our consideration of the internal control over compliance would not necessarily
disclose a1Z mattera in the internal control that might be material wealmessea. A
material wealmess is a cnndition in which the design or aperation of one or more of the
' internal control cocrgionenta does not reduce to a relatively low level the riek that
noncompliance with applicable requirements of laws, regulatians, contracts and granta
that would he material in relation to a major federal program being audited may occur
and not be detected within a timely period by e~loyees in the normal courae of
' perEozming their assigned functians. We noted no cn~tters irnolving the internal
control over compliance and its operation that we consider to be material wealmesses.
This report is intended for the infoxm~tion of cnanagement and federal awazding
' agencieo. However, thia report ia a matter of puhlic record and ita distribution ie
not limited.
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' June 10, 2005
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ROCKY MOUNTAIN HEALING ART3 INSTITUTE
D(S/A '
BOULDER COLLEGE OF MASSAGE THERAPY
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED DECEMBER 31,
2004 '
Section I- Summary of Auditora' Results '
Financial Statementa
Type of auditors' report issued Unqualified.
Internal control over financial reporting: '
Material Weakness(es) identified? No.
Reportable condition(sj identified
not considered to be material '
weaknesses? None reported.
Noncompliance material to financial
statements noted?
No. '
Federal Awarda
Internal control over major programs: '
Material weakness(es) identified? No.
Reportable condition(s) identified
not considered to be material
weaknesses?
None reported. ,
Type of auditors' report issued on
compliance for major programs:
Unqualified. '
Any audit findings disclosed that are
required to be reported in accordance
with Circular A-133, Section .510(a)?
No. '
Identification of major programs:
Federal '
CFDA
Number Name o£ Federal Proaram or Cluster
r - F
Cl
t
d
l St
d
t Fi
l A
i t
P
i '
us
e
e
era
u
en
nanc
a
ss
ance
rograms:
s
84.032 Federal Family Education Loan Program (FFEL) '
89.063 Federal Pell Grant Program (PELL)
Dollar threshold used to distinguish between
Type A and Type B programs:
$ 300,000. '
Auditee qualified as low-risk auditee? No.
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, SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED DECEMSER 31, 2004
(continued)
' Section II - Financial Statement Findinga
, No matters were reported.
Section III - Federal Award Findinga and Questioned Costs
' No matters were reported.
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ROCKY MOUNTAIN HEALING ART3 INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
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SUfA1ARY SCHEDULE OF PRIOR AUDIT FINDINGS '
YEAR ENDED DECEMBER 31, 2004
There were no findings from the prior audit.
17.
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ROCKY MOUNTAIN HEALING ARTS INSTITUTE
D/B/A
BOULDER COLI,EGE OF MASSAGE THERAPY
(A NONPROFIT OR6ANIZATION)
OPE 03013100
FINANCIAL STATEMENTS
YEAR ENDED DECEI~ER 31, 2003
INDEPENDENT AUDITORS' REPORTS
West & Company
A Professional Corporation
Certified Public Accountants
ROCKY MOUNTAIN I~AI,ING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
FINANCIAL STATEMENTS
?E~IDENT AUDITORS' REPORTS
December 31, 2003
CONTENTS
Independent Auditors' Report ..................................... 1.
Financial Statements:
Statement of Financial Position ............................... 2.
Statement of Activities ....................................... 3.
Statement of Cash Flows ....................................... 4.
Notes to Financial Statements ................................. 5.
Supplementary Schedule:
Schedule of Federal Financial Assistance ...................... 11.
Report on Compliance and on Internal Control Over
Financial Reporting Based on an Audit of
Financial Statements Performed in Accordance
with Government Auditing Standards ............................ 12.
Report on Compliance with Requirements Applicable
to Major Program and Internal Control Over
Compliance in Accordance With OMB Circular
A-133 ......................................................... 13.
Schedule of Findings and guestioned Costs ........................ 15.
Succrtnary SChedule of Prior Audit Findings ......................... 17.
' .
' West & Company
A Professional Corporation
Crr~ifird Public Accoumm~ls
'
INDEPIIdDENT AUDITORS' REPORT
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To the Board of Directors,
Rocky Mountain Healing Arts Institute:
We have audited the acca~anying statement of financial position of Rocky Mountain
Healing Arts Institute d/b/a Boulder College of Massage Therapy ("BCMT")(a nonprofit
organization) as of December 31, 2003, and the related statements of activities and
cash flows for the year then ended. These financial statements are the responsibility
of the Cocnpany's management. Our responsibility is to express an opinion on these
financial statements based on our audit.
We conducted our audit in accordance with U.S. generally accepted auditing standards
and the standards applicable to financial audits contained in Govenurrent Auditing
Standards, issued by trie 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 of material misstatemPnt. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statementa. An audit also includes assesaing the accounting principles used
and significant estimates made by management, as vrell as evaluating the overall
financial statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all
' material respects, the financial position of HCMT as of December 31, 2003, and the
changes in its net assets and its cash flows for the year then ended in confoxmity
with U.S. generally accepted accounting principles.
' In accordance with GoverrunPSt Auditing Standards, we have also issued a report dated
May 26, 2004, on our consideration of BCMT's internal control over financial reporting
and our tests of its compliance with certain prwiaions of laws, regulations,
' contracts and grants.
Our audit was made for the pui-pose of fornung an opinion on the basic financial
statements of BCS1T taken as a whole. The accompanying schedule of expenditures of
federal awards is presented for purpoaea of additional analysis as required by U.S.
Office of Managercient and Budget Circular A-133, Audita of States, Local Governments,
and Non-Profit Organizations, and is not a required part of the basic financial
statements. Such information has been subjected to the auditing procedures applied
in the audit of the basic financial statements and, in our opinion, is fairly stated,
in all material respects, in relation to the basic financial statements taken as a
whole.
' rnay z6, zooa
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i.
(405)949-9730 - 2938 N.W. 50'" St, Oklahoma City, OK 731J2
ROCKY MOUNTAIN HEALING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
STATEMENT OF FINANCIAI, POSITION
December 31, 2003
ASSETS
Current Assets:
Cash
Investments
Accounts receivable, less allowance
for doubtful accounts of $19,028
Inventory
Prepaids
Total current assets
Property and Equipment, net
Other Assets
LIABII,ITIES AND NET ASSETS
Current Liabilities:
Accounts payable
Accrued liabilities
Deferred tuition revenue
Current maturities of long-term debt
Total current liabilities
Long-Tesm Debt, net of current maturities
Net Assets, unrestricted
The accompanying notes are an integral
part o£ these £inancial statements.
$ 127,991
264,528
1,136,043
102,676
56,724
1, 687, 962
854,025
31,031
$ 2,573,018
S 37,816
62,446
1,109,296
136,463
1,396,021
369,232
862,765
$ 2,573,018
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ROCKY MOUNTAIN HEALING ARTS ZNSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
STATEMENT OF ACTIVITIES
For the Year Ended Decembez 31, 2003
Revenues:
Tuition and £ees
Bookstore revenue
Clinic revenue
Unrealized gain on investments
Interest and other
Total revenues
Costs and Expenses:
Employee salaries, taxes and benefits
Occupancy
Student services
General and administrative
Recruitment
Depreciation and~amortization
Interest expense
Bad debt expense
Total costs and expenses
Decrease in Net Assets
Net Assets, Beginninq of Year, as
previously reported
Prior Period Adjustments
Net Assets, Beginning of Year, as
restated
Net Assets, End of Year
The accompanying notes are an integral
part o£ these financial statements.
S 2,955,765
317,278
188,759
90,135
36, 357
3,038,294
1,720,598
380,693
375,201
302,425
120,864
97,763
52,195
35,210
3,084,849
(46,555)
956,590
(47,270)
909,320
$ 862,765
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ROCKY MOUNTAIN AEAI~ING ARTS INSTITUTE '
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
STATEMENT OF CASH FLOWS '
For the Year Ended December 31, 2003
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Cash f
ows use
by ope=ating act
vities:
Decrease in net assets $ (96,555)
Adjustments to reconcile decrease in net
assets to net cash used by '
operating activities-
Depreciation and amortization 97,763
Onrealized gain on investments
(40,135) ,
Investment dividends reinvested (6,548)
(Increase) decrease in:
Accounts receivable (261,919) ,
Inventory 29,255
Prepaids (44,343)
Increase (decrease~ in:
Accounts payable
(7,382) '
Accrued liabilities (11,382)
Deferred tuition revenue 225,036 ,
Net cash used by operating activities _- -^
(66,205)
Cash flowe used by investing activities: + '
Purchases of property and equipment (6,7791
Net cash used by investing activities __ ___(6,774) ,
Cash £lows used by financing activities:
Debt payments __ _(129,784) ,
Net cash used by financing activities (124,784)
Net decrease in cash (19~,763) '
Cash, beginning oE year -- --325,759 ,
Cash, end o£ year $ 127,991
Supplemental Disclosure: '
Operating acCivities reflect interest paid of $52,145.
'
The accompanying notes are an integral ,
part of these £inancial statements.
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ROCKY MOUNTAIN HEALING ARTS INSTITUTE
D/B/A
BOULDER COLI,EGE OF MASSAGE THERAPY
NOTES TO FINANCIAL STATEMENTS
December 31, 2003
NOTE 1- SUMMARY OE SIGNIFICANT ACCOUNTING POLICIES:
Organization and Nature o£ Business
Rocky Mountain Healing Arts Institute d/b/a Boulder College of
Massage Therapy (the "Company") is a Colorado nonprofit corporation
chartered in 1975. The Company is primarily engaged in post-
secondary education and training, with certificate and associates
degrees offered in massage therapy programs.
Accounts Receivable and Economic Dependenev
Accounts receivable represent outstanding balances due from
students. An allowance for doubtful accounts has been established
to reserve for accounts receivable amounts deemed to be
uncollectible by management.
' A significant portion of the Company's revenues are provided by
students who participate in government financial aid programs. In
connection with this participation, the Company is subject to rules
' and requlations promulgated by the U.S. Department of Education.
Failure to comply with the terms and provisions of this
participation could lead to suspension or termination of the
Company's ability to participate in government financial aid
' programs and consequently, may adversely affect the Company's
operations. Management believes that the Company is in compliance
with such rules and regulations.
' Use oP Estimatee
~ The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the amounts reported in the financial
statements and accompanying notes. Actual results could differ from
' those estimates.
Investments
' The Company has adopted SFAS No. 129, "Accounting for Certain
Investments Held by Not-FOr-Profit Organizations." Under SFAS No.
' 129, investments in marketable securities with readily determinable
fair values and all investments in debt securities are reported at
their fair values in the statement of financial position.
' Unrealized gains and losses are included as changes in net assets
in the statement of activities.
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NOTES TO FINANCIAL STATIIY~N'PS (continued)
Decanber 31, 2003
Property and Equi~nent
Property and equipment are stated at cost. Depreciation is grovided
using the straight-line method over the estimated useful lives o£
the classes of property and equipment, ranging fran 3 to 7 years.
Amortization of leasehold improvements ie provided using the
straight-line method ranging from 7 to 20 years.
Revenues and Coate
Tuition reverrues are recognized ratably over the academic period of
the respective student. Educational and advertising costs are
reflected in expense as incurred.
Deferred 1~ition Revenue
Deferred tuition revenue in the accompanying statement of financial
posiCion represents the portion of tuition attributable to future
educational services to be performed.
Income Taxea
The Company is exempt from Federal and state income taxes under
Section 501 (c) (3) of the Internal Revenue Code. Accordingly, no
prwision for taxes has been made in the financial statements.
Concentration of Credit Riak
During the year ended December 31, 2003, the Company maintained cash
balances in banks in excess of amounts insured by the Federal
Deposit Insurance Corporation.
Financial Instruments
The carrying value of current assets and liabilities reasonably
approximates their fair value due to their short maturity periods.
The carrying value of the Company's debt obligations reasonably
approximates their fair value as the stated interest rate
approximates current market interest rates of debt with similar
tezms.
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NOTES TO FINANCIAL STATEP~N'PS (continued)
December 31, 2003
NOTE 2 - INVESTMENrS
The Company's investments consist of mutual funds. Aggregate
cost basis for these mutual funds is $338,155 as of December 31,
2003. The aggregate unrealized loss for these mutual funds is
$73,679 as of December 31, 2003.
NOTE 3- PROPERTY APID EQUIPMENT
Property and equipment consists of the following as of December
31, 2003:
Leasehold improvements
Furniture and equipment
Library
Less accumulated depreciation
and amortization
NOTE 4 - IANG-TERM DEBT
$ 1,130,239
439,590
12, 617
1,582,446
(728,421)
$ 854,025
Long-term debt consists of the following as of December 31, 2003:
' Note payable to bank; monthly
principal and interest payments of
$3,634; interest at 7.5o per annum;
' due in full in December, 2006,
collateralized by a security
interest in Company assets
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Note payable to corporation;
monthly principal and interest
payments of $8,817; interest at
9.375g per annum; due in full in
June, 2007; collateralized by
security interest in Company's
leasehold improvements
$ 116,647
304,879
7.
NOTES TO FINANCIAL STATII~NTS (continued)
December 31, 2003
NOTE 4 - IANG-TERM DEBT (continued)
Note payable to corporation;
monthly principal and interest
payments of $2,242; interest at 10~
per annum; due in full in June,
200'7; collateralized by security
interest in Company's leasehold
improvements 79,174
500,695
Less current maturities (136,963)
$ 364,232
Aggregate maturities of long-term debt at December 31, 2003, are
as follows:
Year endinq December 31.
2004 $ 136,463
2005 152,658
2006 159,953
2007 51,621
$ 500, 695
In addition, the Company has a line-of-credit of $70,000 with a
bank which expires June 30, 2004. There is no outstandinq
balance on this line-of-credit as of December 31, 2003.
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' NOTES TO FZNANCIAI. STATEMENTS (continued)
December 31, 2003
' NOTE 5 - OPERATING LEASE
The Company leases its school facility under an operating lease.
' The following is a schedule by years of future minimum rental
payments required under the operating lease, which expires in June,
2007:
' D
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31
di
ecem
er
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Year en
ng
2004 $ 207,575
, 2005 213,664
2006 220,107
2007 111,699
' ---
$ 753,065
, h
2
620 f
Rent expense under this operating lease totaled or t
e
01,
$
year ended December 31, 2003.
'
NOTE 6- EMPI.OYEE BENEFIT PI,AN
, The Company sponsors a 903 (b) tax deferred annuity plan ("the
plan"). Pursuant to the plan, eligible employees may elect to make
~ contributions under a salary reduction agreement. The Company makes
a matching contribution of $.50 for each $1.00 the employee
contributes limited to the first 6~ of the employee's contribution
to the plan. In addition, the Company, at its discretion, may
' contribute additional amounts to the plan. The Company's matching
contributions to the plan totaled 513, 859 for the year ended
December 31, 2003.
'
NOTE 7- PRIOR PERIOD ADNSTMENT
t The accompanying financial statements include an adjustment
necessary to correct an accounting error of prior periods. Net
assets as of December 31, 2002, has been reduced by $47, 270 due to
' the Company not accruing salaries expense attributable to the period
ended December 31, 2002.
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SUPPLEMENTARY INFORMATION
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ROCRY MOtTNTAIN HEALING ARTS INSTZTUTE
D/B/A
BOUI,DER COLLEGE OF MASSAGE THERAPY
SCHEDULE OE FEDERAL FINANCIAI, ASSISTANCE
FOR THE YEAR ENDED DECEMBER 31, 2003
Federal Federal
Gratiting CE9A
~enev Number
U.S.D.E.* 84.032 Federal Family Education Loan
Ptogram (FFEL)
O.S.~.E.* 89.063 Eederal Pe11 Grant Program (PELL)
Total
~ United States ~epartment of Education.
£ederal
Awarda
Exoenditurea
$ 1,075,621
63,309
$ 1,138,925
Basis of Presentation
The afozementioned pxogiams are considered one cluster for determination of major
programs. The schedule xeflects Federal Financial Assistance disbuzsed (net of refunds)
duzing the yea= ended December 31, 2003.
11.
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West & Company
A Professional Corporation
Cerlificd Public Acromrrann
REPORT ON COMPL7ANCE AND ON INTERI~L CONTROL OVER FINANCrnr•
REPORTING SASID ON AN AUDIT OF FINF~NCIAL STATP~TSS PERFORIg9 IN ACCORDANCE WITFI
GOVERDAIENT AUDITING STADIDARDS
Tb the Board of Directors,
Rocky Mountain Healing Arts Institute:
We i~ave audited the financial sCatements of Rocky Mountain Healing Arts Institute
d/b/a Boulder College o£ Massage Therapy ("HQ+TP")(a nonprofit organization) as of and
for the year ended December 31, 2003, and hatre issued our report thereon daCed May
26, 2004. We conducted our audit in accordance with O.S. generally accepted auditing
standards and the standards applical~le to financial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United StaCes.
Co~liance
As part of obtaining reasonable assurance about whether BCMI" s financial statements
are free of m~terial misstatement, we perfoz~ned tests of its compliance with certain
provisions of laws, regulations, contracts and grants, nonca~liance with which could
have a direct and material effect on the determination of financial statement amounts.
However, providing an opinion on compliance with those provisions was not an objective
of our audit and, accordingly, we do not expreas such an opinian. The results of our
tests disclosed no instances of noncrmrpliance that are required to be reported under
Government Audi.ting Standards.
Internal Control Over Financial Reoortina
In planning and perfoiming our audit, we considered HCMT's internal control wer
financial reporting in order to detezmine our auditing procedures for the purpose of
expressing our opinion nn the financial statements and not to provided assurance on
the intesnal control wer financial reporting. Our consideration of the internal
control over financial reporting would not necessarily discloae all matCers in the
internal control over financial reporting tk~at might be material weaknesses. A
material wealmess is a condition in which the design or operation of one or more of
the internal control components does not reduce to a relatively low level the risk
that misstatements in amounts that would be material in relation to the financial
statements being audited may occur and not be detected within a timely period by
employees in the normal course of performing their assigned functions. We noted no
matters involving the internal control over financial reporting and its operation that
we consider to be material wealmesses.
This report is intended for the inforniation of tr~-~nagement and federal awarding
agencies. However, this report is a matter of public record and its distribution is
not limited.
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12.
(405) 9J9-9730 - 2938 N.W. 50ih St., Oklahoma City, OK 73112
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' West & Company
A Professional Corporation
Crnified Public dccounlnn~s
,
, REPORT ON COMPLIANCE WITH REQUIREMENTS APPLICABLE TO MAJOR
PAOGRAM AND INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH
Ohffi CIRCfJLP+A A-133
, To the Board of Directors,
Rocky Mountain Healing Arts Institute:
, Compliance
We have audited the compliance of Rocky Mountain Healing Arts Institute d/b/a Boulder
College of Massage Therapy ("BCMT") with the types of compliance requirements
, described in the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance
Supplement that are applicable to its major federal program for the year ended
December 31, 2003. BCMT's major federal program is identified in the accompanying
Schedule of Findings and Questioned Costs. Compliance with the requirements of laws,
' regulations, contracts and grants applicable to its major federal program is the
responsibility of BCMT's management. Our responsibility is to expxess an opinion on
BCMT's compliance based on our audit.
~ We conducted our audit of compliance in accordance with U.S. generally accepted
auditing standards; the standards applicable to financial audits contained in
Government Auditing Standards, issued by the Comptroller General of the United States;
' and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit
Organizations. Those standards and OMB Circulax A-133 require that we plan and
perform the audit to obtain reasonable assurance about whether noncompliance with the
types of compliance requirements referred to above that could have a direct and
, material effect on a major federal program occurred. An audit includes examining, on
a test basis, evidence about BCMT's compliance with those requirements and performing
such other procedures as we considered necessary in the circumstances. We believe
' that our audit provides a reasonable basis for our opinion. Our audit does not
provide a legal determination on BCMT's compliance with those requirements.
In our opinion, BCMT complied, in all material respects, with the requirements
' referred to above that are applicable to its major federal program foi the year ended
December 31, 2003.
Internal Control Over Comoliance
' The management of BCMT is responsible for establishing and maintaining effective
internal control over compliance with requirements of laws, regulations, contracts and
grants applicable to its federal programs. In planning and performing our audit, we
' considered BCMT's internal contzol over compliance with requirements that could have
a dizect and material effect on its major federal program in order to determine our
auditing procedures for the purpose of expressing our opinion on compliance and to
test and report on internal control over compliance in accordance with OMB Circular
' A-133
'
' 13.
' (405) 9~9-9730 -?938 N.W. 50"' St., Oklnhoma City, OK 73112
~
Our consideration oP the internal control over compliance would not necessarily
discloae all matters in the internal control that might be material weaJmeases. A
material wealmess ia a condition in which the design or operation of one or ~re of
the internal control components does not reduce to a relatively low level the risk
that nonccxnpliance with applicable requirements of laws, regulations, contracta and
granta that would be material in relation to a major federal program being audited
may occur and not be detected within a timely period by e~loyees in the normal course
of perfornung their assigned functions. We noted no matters involving the internal
control over coccq~liance and its operation that we consider to k~e material wealmessea.
This report is intended for the infoxmation of management and federal awarding
agenciea. However, this report is a matter of public record and its distribution is
not limited.
May 26, 2004
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ROCKY MOUNTAIN HEAI,ING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED DECEMBER 31, 2003
Section I- Svn¢nary of Auditors' Results
Financial Statements
Type of auditors' report issued
Internal control over financial reporting:
Material Weakness(es) identified?
Reportable condition(s) identified
not considered to be material
weaknesses?
Noncompliance material to financial
statements noted?
' Federal Awards ,
Internal control over major programs:
Material weakness(es) identified?
' Reportable condition(s) identified
not considered to be material
weaknesses?
' Type of auditors' report issued on
compliance for major programs:
1 Any audit findings disclosed that are
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required to be reported in accordance
with Circular A-133, Section .510(a)?
Identification of major programs:
Federal
CEDA
Unqualified.
No.
None reported.
No.
No.
None reported.
Unqualified.
No.
Number Name of Federal Proqram or Cluster
Cluster - Federal Student Financial Assistance Programs:
84.032 Federal Family Education Loan Program (FFEL)
84.063 Federal Pell Grant Pxogram (PELL)
Dollar threshold used to distinguish between
Type A and Type B programs: $ 300,000.
Auditee qualified as low-risk auditee? No.
15.
SCHEDULE OF FINDINGS AND QUESTIONED COSTS
YEAR ENDED DECEMBER 31, 2003
(continued)
Section II - Financial Statement Findings
No matters were reported.
Section III - Federal Award Findings and Questioned Costs
No matters were reported.
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' ROCRY MOVNTAIN HEALING ARTS INSTITUTE
D/B/A
BOULDER COLLEGE OF MASSAGE THERAPY
' SUMMARY SCHEDULE OF PRIOR AUDIT FINDINGS
YEAR ENDED DECEMBER 31, 2003
' There were no findings from the prior audit.
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