2006 Annual Report

Message from Chair - Environmental Defence - The Proponent - The Application - The Case - Natural Environment - Transportation - Community - Hydrogeology - Financials - Public Activity Report - References - Volunteer Committee

Financials

The following condensed financial statements represent an extract from the annual audited financial statement of FORCE - Friends of Rural Communities & the Environment for the year ended December 31, 2006.

A complete set of statements, together with the report of our auditors, Martyn Dooley & Partners, Chartered Accountants is available on our website.

Statement of Financial Position
December 31, 2006

		2006		2005
Assets
Cash short term deposits	$	15,155	$	36,555
Internally restricted short term deposits		100,000		50,000
Cash held in trust		50,000		-
Other current assets		550		600
	$	165,705	$	87,155
Liabilities and Net Assets
Accounts payable and accrued liabilities	$	2,319	$	9,618
Externally restricted deferred contributions1		50,000		-
Total liabilities		52,319		9,618
Net Assets
Restricted net assets, hearing fund2		100,000		50,000
Unrestricted net assets		13,386		27,537
Total net assets		113,386		77,537
	$	165,705	$	87,155

Statement of Operations
Year Ended December 31, 2006

		2006		2005
Revenue
Environmental Defence Canada case support3	$	55,403	$	-
Individual contributions		20,074		91,470
Gala		19,245		-
Business contributions		6,000		15,000
Interest		2,667		1,355
Tour de FORCE		1,350		-
		104,739		107,825
Allocation to externally restricted deferred contributions		(50,000)		-
Total Revenue		54,739		107,825
Expenses
Technical Experts
Ecology		2,275		10,867
Geographic information systems		(2,881)		39,341
Hydrogeology		2,862		12,383
Legal		4,408		8,222
Research materials		189		1,301
		6,853		72,114
Community Activities
Community meeting expenses		103		770
Newsletter delivery		820		-
Flyer printing		2,139		497
Signage		3,962		3,019
Wristbands		1,072		-
		8,096		4,286
Expenses Related to Incorporation
Insurance		2,323		2,295
		2,323		2,295
Operating Costs
Bank service charges		72		47
Meeting expenses		93		51
Memberships		343		-
Office supplies		552		302
Parking		12		65
Telephone		428		402
Website		118		32
		1,618		899
Total Expenses		18,890		79,594
Excess of Revenue over Expenses		35,849		28,231

Notes:

1. Externally restricted deferred contributions represent resources in the current period that are expert fees related to expected future judicial hearings.
2. The directors have allocated $50,000 in 2006 and $50,000 in 2005 of the unrestricted net assets to a restricted fund to cover future legal costs.
3. During 2006 FORCE entered into a strategic relationship with Environmental Defence Canada (EDC). The relationship allows FORCE supporters to contribute to EDC on behalf of FORCE. EDC in turn agrees to pay for various legal and technical experts expenses incurred by FORCE. EDC collects a 10% administration fee as part of this arrangement.