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2007 Annual Report

 Message from Chair - Water - Cool, clean and clear - for now - Environment - Wetlands and Woodlands (a.k.a. "Marshes and Forests") - Haul Route - Truck Traffic - Health - Protecting the Water We Drink and The Air We Breathe - Concluding Comments - Financials - Volunteer Committee - Public Activity Report - References


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, 2007.

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, 2007

   
2007
  
2006
Assets  
 
Cash short term deposits $
19,656
 $
15,155
Internally restricted short term deposits  
125,000
  
100,000
Cash held in trust  
115,000
  
50,000
Other current assets  
150
  
550
  $
259,806
 $
165,705
   
 
Liabilities and Net Assets  
 
Accounts payable and accrued liabilities  
446
  
2,319
Externally restricted deferred contributions 1  
115,000
  
50,000
Total Liabilities  
115,446
  
52,319
   
 
Net Assets  
 
Restricted net assets, hearing fund 2 $
125,000
 $
100,000
Unrestricted net assets  
19,360
  
13,386
   
144,360
  
113,386
   
259,806
  
165,705

Statement of Operations
Year Ended December 31, 2007

2007
 2006
Revenue
  Environmental Defence Canada case support3 $
68,6643
 $ 55,403
  Individual contributions
7,746
 20,074
Gala
18,296
 19,245
  Business contributions
4,000
 6,000
  Interest
6,169
 2,667
  Tour de FORCE
1,500
 1,350
104,739
 107,825
  Allocation to externally restricted deferred contributions
(65,000)
 (50,000)
Total Revenue
41,375
 54,739
Expenses
  Technical Experts
    Ecology -
2,275
    Geographic information systems -
(2,881)
    Hydrogeology 1,908
2,862
    Legal 1,518
4,408
    Research materials 5
189
3,431
6,853
  Community Activities
    Community meeting expenses 321
103
    Newsletter delivery 1,391
821
    Flyer printing 64
2,139
    Newspaper Advertising 933 -
    Signage 88
3,962
    Wristbands -
1,072
2,797
8,097
  Expenses Related to Incorporation
    Insurance
2,320
 2,322
2,320
 2,322
  Operating Costs
    Bank service charges 75
72
    Meeting expenses 328
93
    Memberships 318
343
    Office supplies 551
552
    Parking 4
12
    Telephone 402
428
    Website 175
118
1853
1,618
Total Expenses
10,401
 18,890
Excess of Revenue over Expenses
30,974
 35,849

Notes:

  1. Internally Restricted for Hearing Fund1. -The directors have allocated another $25,000 in 2007 of the unrestricted net assets to an internally restricted fund, to bring the total to $125,000, to cover future hearing costs.
  2. Externally Restricted Deferred Contributions2. - Externally restricted deferred contributions represent resources held in trust and intended for expert fees related to expected future judicial hearings.
  3. Environmental Defence Canada Case Support3. - FORCE has an ongoing strategic relationship with Environmental Defence Canada (EDC). The relationships 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.

 


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