Projet aux fins de discussion seulement

Canadian Association for Environmental

Analytical Laboratories (Inc.)

Financial Statements
March 31, 2000

Auditors' Report 2
Financial Statements
Operations 3
Changes in Net Assets 4
Cash Flows 5
Financial Position 6
Notes to Financial Statements 7 and 8
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2

Auditors' Report

To the Members of the

Canadian Association for Environmental Analytical Laboratories (Inc.)

We have audited the statement of financial position of the Canadian Association for
Environmental Analytical Laboratories (Inc.) as at March 31, 2000 and the
statements of operations, changes in net assets and cash flows for the year then
ended. These financial statements are the responsibility of the Association's
management. Our responsibility is to express an opinion on these financial
statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards.

Those standards require that we plan and perform an audit to obtain reasonable
assurance whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well
as evaluating the overall financial statement presentation.

In our opinion, these financial statements present fairly, in all material respects, the
financial position of the Association as at March 31, 2000 and the results of its
operations and its cash flows for the year then ended in accordance with generally
accepted accounting principles. As required by the Canada Corporations Act, we
report that, in our opinion, these principles have been applied on a basis consistent
with that of the preceding year.

Chartered Accountants

Ottawa
May 4, 2000
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Canadian Association for Environmental

Analytical Laboratories (Inc.)
Operations
Year ended March 31, 2000

2000
$

Revenue
Evaluations 1,146,100
Memberships 89,040
Projects 10,520
Interest income 8,194
1,253,854
Expenses
Evaluations 549,456
Salaries and benefits 530,134
Consulting fees 25,715
Office and telephone 43,057
Travel and meetings 86,846
Rent 39,835
Projects 49,681
Postage and shipping 16,522
Copying and printing 11,512
Insurance 12,159
Professional fees 13,374
Advertising 12,016
Awards 1,887
Amortization 7,802
1,399,996
EXCESS OF REVENUE OVER EXPENSES
( EXPENSES OVER REVENUES ) (146,142)

The accompanying notes are an integral part of the financial statements.

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1999
$
(Unaudited)

1,013,750
80,567
49,430
11,257
1,155,004

475,650
443,374
11,905
39,644
29,162
33,453
46,210
16,184
13,125
11,964
4,930
14,395
1,883
7,899
1,149,778

5,226
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Canadian Association for Environmental

Analytical Laboratories (Inc.)
Changes in Net Assets
Year ended March 31, 2000

Invested in Total
capital assets Unrestricted 2000
$ $ $

Balance, beginning of year 17,691 519,348 537,039

Excess of revenue over expenses
( expenses over revenues ) (7,802) (138,340) (146,142)
Investment in capital assets 18,046 (18,046)
Balance, end of year 27,935 362,962 390,897

The accompanying notes are an integral part of the financial statements.

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Total
1999
$
(Unaudited)

531,813

5,226

537,039
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Canadian Association for Environmental

Analytical Laboratories (Inc.)
Cash Flows
Year ended March 31, 2000

2000
$

OPERATING ACTIVITIES
Excess of revenue over expenses
(expenses over revenue) (146,142)
Non-cash items
Amortization 7,802
Changes in working capital items (119,778)
Cash flows from operating activities (258,118)
INVESTING ACTIVITIES
Fixed assets (18,046)
Investment 91,816
Cash flows from investing activities 73,770
Increase (decrease) in cash (184,348)
Cash, beginning of year 252,314
Cash, end of year 67,966

CHANGES IN WORKING CAPITAL ITEMS

Accounts receivable (99,853)
Prepaid expenses 28,560
Accounts payable (48,659)
Prepaid membership dues (106)
Deferred revenue 280
(119,778)

The accompanying notes are an integral part of the financial statements.

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1999
$
(Unaudited)

5,226

7,899
28,554
41,679

(1,044)
(10,881)
(11,925)
29,754
222,560
252,314

9,836
(33,994)
29,409
(417)
23,720
28,554
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Canadian Association for Environmental

Analytical Laboratories (Inc.)
Financial Position
March 31, 2000

2000
$

ASSETS
Current assets
Cash 67,966
Investment (Note 3) 175,404
Accounts receivable 391,755
Prepaid expenses 20,197
655,322
Capital assets (Note 4) 27,935
683,257

LIABILITIES
Current liabilities
Accounts payable and accrued liabilities 180,340
Prepaid membership dues 20
Deferred revenue 112,000
292,360
NET ASSETS
Invested in capital assets 27,935
Unrestricted 362,962
390,897
683,257

The accompanying notes are an integral part of the financial statements.

Approved by the Board,

Director Director
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1999
$
(Unaudited)

252,314
267,220
291,902
48,757
860,193
17,691
877,884

228,999
126
111,720
340,845

17,691
519,348
537,039
877,884
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Canadian Association for Environmental

Analytical Laboratories (Inc.)
Notes to Financial Statements
March 31, 2000

1 - GOVERNING STATUTES AND NATURE OF OPERATIONS

The Canadian Association for Environmental Analytical Laboratories (Inc.) is a non-profit organization,
incorporated without share capital under the Canada Corporations Act, to raise the level of competency,
consistency, capability and communication within environmental testing laboratories in Canada.

2 - ACCOUNTING POLICIES

Revenue recognition

The Association follows the deferred method of accounting for contributions. Under this method,
contributions restricted for future periods are deferred and are reported as revenue in the year in which the
related expenses are incurred. Unrestricted contributions are reported as revenue when received or
receivable if the amount to be received can be reasonably estimated and collection is reasonably assured.

Capital assets

Capital assets are recorded at cost and amortized over their estimated useful lives according to the following
methods and annual rates:
Methods
Office equipment Declining
balance
Computer equipment Straight-line

3 - INVESTMENT

Mutual fund investments are recorded at cost plus reinvested revenue and are comprised of the following:

Units Cost
$
Talvest Money Fund 17,540 175,404

Units Cost
$
Talvest Money Fund 26,722 267,220
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Canadian Association for Environmental

Analytical Laboratories (Inc.)
Notes to Financial Statements
March 31, 2000

4 - CAPITAL ASSETS

Accumulated
Cost depreciation
$ $
Office equipment 13,060 3,960
Computer equipment 67,379 48,544
80,439 52,504

Accumulated
Cost depreciation
$ $
Office equipment 6,234 3,206
Computer equipment 56,159 41,496
62,393 44,702

5 - COMMITMENT

The Association has entered into long-term lease agreements expiring between October 2002 and October
2004 which call for lease payments of $ 56,936 for the rental of premises and office equipment. Minimum
lease payments for the next four years are $17,824 in 2001 and 2002, $ 14,624 in 2003 and $ 6,664 in 2004.

6 - UNCERTAINTY DUE TO THE YEAR 2000 ISSUE

The year-2000 computer issue arose chiefly because many date-sensitive automated systems had not been
designed to recognize correctly the year 2000. This represented a significant challenge for all organizations.
If not addressed properly, the year-2000 issue could have had an impact on operations and financial
reporting, ranging from minor errors to the failures of critical systems. The year 2000 arrived without incident
for the Association. However as is the case generally, it is not yet possible to conclude definitively that all
aspects of the year-2000 issue affecting the Association, including those related to the efforts of members,
suppliers or other third parties, have been fully resolved.
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s a non-profit organization,
se the level of competency,
ies in Canada.

ons. Under this method,

nue in the year in which the
revenue when received or
on is reasonably assured.

es according to the following

Rates

20%
4 years

omprised of the following:

2000
Market
$
175,404

1999
(Unaudited)
Market
$
267,220
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2000

Net
$
9,100
18,835
27,935

1999
(Unaudited)

Net
$
3,028
14,663
17,691

October 2002 and October

office equipment. Minimum
n 2003 and $ 6,664 in 2004.

mated systems had not been

allenge for all organizations.
on operations and financial
2000 arrived without incident
conclude definitively that all
d to the efforts of members,