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      <FSAudited>true</FSAudited>
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        <Explanation>ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE PLAN ADMINISTRATOR BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2010.</Explanation>
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        <Identifier>MANAGEMENT DELEGATED</Identifier>
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        <Explanation>THE MICHIGAN REGIONAL COUNCIL OF CARPENTERS EMPLOYEE BENEFITS FUND'S TRUSTEES HAVE HIRED BENESYS, INC. AS THE THIRD PARTY ADMINISTRATOR FOR THE FUND'S DAILY OPERATIONS.</Explanation>
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      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11B</ReturnReference>
        <Explanation>REVIEW PROCESS OF THE FORM 990 IS DONE BY THE BOARD OF TRUSTEES AT THE BOARD MEETING &amp; EXPLAINED BY THE CPA PRIOR TO FILING THE RETURN.</Explanation>
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      <GeneralExplanation>
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        <Explanation>GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</Explanation>
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      <GeneralExplanation>
        <Identifier>OTHER CHANGES IN NET ASSETS EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 9</ReturnReference>
        <Explanation>CHANGE IN ACC BENE OBLIG 240,000 CHANGE IN IBNR 3,360,000</Explanation>
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          <City>LANSING</City>
          <State>MI</State>
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          <State>MI</State>
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          <City>BLOOMFIELD HILLS</City>
          <State>MI</State>
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</Return>