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2008-2009 Annual Report

Message from Chair - The Applications - Our Case - Community Issues - Concluding Comments - Financials - Volunteer Committee - Public Activity Report - Appendix 1 & 2 - 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, 2009.

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, 2009

   
2009
 
2008
Assets  
 
Cash short term deposits $
50,406
$
37,869
Internally restricted short term deposits  
150,000
 
125,000
Cash held in trust  
191,695
 
140,150
Other current assets  
7,861
 
1,225
  $
399,962
$
304,244
   
 
Liabilities and Net Assets  
 
Accounts payable and accrued liabilities  
9,174
 
393
Externally restricted deferred contributions 1  
191,695
 
140,150
Total Liabilities  
200,869
 
140,543
   
 
Net Assets  
 
Restricted net assets, hearing fund 2 $
150,000
$
125,000
Unrestricted net assets  
49,093
 
38,701
   
399,962
 
304,244
   
259,806
 
165,705

Statement of Operations
Year Ended December 31, 2009

2009
2008
Revenue
  Environmental Defence Canada case support3 $ 104,402 $ 56,387
  Individual contributions
8,195
7,500
  Business Contributions
-
3,600
 &nbswp;Annual Gala and Golf Tournament
20,825
26,343
  Tour De FORCE
-
1,110
  Interest
2,626
9,260
104,739
107,825
  Allocation to externally restricted deferred contributions
(51,545)
(25,150)
Total Revenue
84,503
79,050
Expenses
  Technical Experts
    Ecology 6,540-
-
    Hydrogeology 9,474
7,450
    Legal 19,800
27,083
    Research materials 544
-
36,358
34,533
  Community Activities
    Community meeting expenses 475
284
    Postage 1,397
4,730
   Printing 40 2,658
    Newspaper Advertising 3,875 13,991
    Signage 2,907
27
8,694
8,097
  Expenses Related to Incorporation
    Insurance
2,384
2,316
2,384
2,316
  Operating Costs
    Bank service charges 33
47
    Meeting expenses 337
188
    Memberships 371
361
    Office supplies 318
139
    Parking 73
13
    Telephone 543
422
1,675
1,170
Total Expenses
49,111
59,709
Excess of Revenue over Expenses
35,392
19,341

Notes:

  1. Externally Restricted Deferred Contributions - represent resources held in trust and intended for experts fees related to expected judicial hearings.
  2. Restricted Net Assets / Hearing Fund - In 2009 the directors have allocated another $25,000 of the unrestricted net assets to an internally restricted hearing fund, this bring the total of that fund to $150,000
  3. Environmental Defence Canada Case Support - FORCE has an ongoing 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 expert expenses incurred by FORCE. EDC receives a 10%administration fee as part of this agreement.

 


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