INUIT TAPIRIIT KANATAMI

Transcription

1 Financial Statements of INUIT TAPIRIIT KANATAMI

2 KPMG LLP Telephone (613) 212-KPMG (5764) Suite 2000 Fax (613) Elgin Street Internet Ottawa, ON K2P 2P8 Canada INDEPENDENT AUDITORS' REPORT To The Board of Directors of Inuit Tapiriit Kanatami Report on the Financial Statements We have audited the accompanying financial statements of Inuit Tapiriit Kanatami Inc., which comprise the statements of financial position as at March 31, 2013, March 31, 2012 and April 1, 2011, the statements of operations, changes in net assets and cash flows for the years ended March 31, 2013 and March 31, 2012, and notes, comprising a summary of significant accounting policies and other explanatory information. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian accounting standards for not-for-profit organizations, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained in our audits is sufficient and appropriate to provide a basis for our audit opinion.

3 Opinion In our opinion, the financial statements present fairly, in all material respects, the financial position of Inuit Tapiriit Kanatami as at March 31, 2013, March 31, 2012 and April 1, 2011, and its results of operations, changes in net assets and its cash flows for the years ended March 31, 2013 and March 31, 2012 in accordance with Canadian accounting standards for not-for-profit organizations. Report on Other Legal Requirements As required by the Canada Corporations Act, we report that, in our opinion, the accounting principles in Canadian accounting standards for not-for-profit organizations have been applied on a consistent basis. Chartered Accountants, Licensed Public Accountants June 17, 2013 Ottawa, Canada

4 Statements of Financial Position March 31, 2013, March 31, 2012 and April 1, 2011 March 31, March 31, April 1, Assets Current assets: Cash (note 2) $ 1,579,749 $ 1,389,148 $ 674,486 Amounts receivable 368, , ,281 Contributions receivable (note 4) 732,021 1,068,463 1,564,101 Prepaid expenses 2,247 16,963 34,572 2,682,536 3,027,722 2,550,440 Capital assets (note 5) 102, , ,407 Liabilities and Net Assets $ 2,785,349 $ 3,188,135 $ 2,748,847 Current liabilities: Accounts payable and accrued liabilities (note 6) $ 828,772 $ 1,116,828 $ 971,643 Deferred contributions (note 7) 1,209,838 1,369,320 1,085,098 2,038,610 2,486,148 2,056,741 Net assets (note 8): Invested in capital assets 102, , ,407 Internally restricted (note 8(b)) 299, , ,437 Unrestricted general operations and funded projects 344, , , , , ,106 Commitments (note 9) Contingencies and guarantees (note 10) See accompanying notes to financial statements. $ 2,785,349 $ 3,188,135 $ 2,748,847 On behalf of the Board: Chair Director 1

5 Statements of Operations General Funded Total Total operations activities (note 13) Revenue: Contributions received and receivable $ $ 5,735,376 $ 5,735,376 $ 6,731,464 Other 304,338 27, ,304 1,140, ,338 5,763,342 6,067,680 7,871,694 Deferred contributions, beginning of year 137,855 1,231,465 1,369,320 1,085,098 Deferred contributions, end of year (179,297) (1,030,541) (1,209,838) (1,369,320) Total revenue 262,896 5,964,266 6,227,162 7,587,472 Expenditures: Operating: Advertising 19,163 23,447 42,610 25,884 Bank charges 7,483 7,483 8,555 Communications 21,101 48,159 69,260 66,921 Distribution 8,734 50,006 58,740 39,547 Equipment rental 2,431 3,597 6,028 14,195 Insurance 14,358 14,358 14,561 Office expenses 42, , , ,134 Printing 32,180 88, , ,528 Professional fees 17, , ,963 1,152,553 Legal fees 1,650 45,430 47,080 50,109 Rent 263, , , ,526 Salaries and benefits 169,562 3,091,834 3,261,396 3,232,503 Translation 4,453 77,060 81,513 82,516 Travel 99, , ,407 1,262,872 Capital: Furniture/equipment 22,401 22,401 43,647 Leasehold improvements Affiliated organizations participation: Project activities 293, , , ,708 5,398,102 6,124,810 7,539,597 Administrative overhead charges (566,164) 566,164 Total expenditures 160,544 5,964,266 6,124,810 7,539,597 Excess of revenue over expenditures before undernoted 102, ,352 47,875 Amortization of capital assets (80,001) (80,001) (81,641) Transfer of capital expenditures to net assets (note 8) 22,401 22,401 43,647 Excess of revenue over expenditures $ 44,752 $ $ 44,752 $ 9,881 See accompanying notes to financial statements. 2

6 Statements of Changes in Net Assets Invested in capital March 31, 2013 assets Restricted Unrestricted Total Balance, beginning of year $ 160,413 $ 299,437 $ 242,137 $ 701,987 Excess of revenue over expenditures 44,752 44,752 Amortization of capital assets (80,001) 80,001 Additions to capital assets (note 5) 22,401 (22,401) Balance, end of year $ 102,813 $ 299,437 $ 344,489 $ 746,739 Invested in capital March 31, 2012 assets Restricted Unrestricted Total Balance, beginning of year $ 198,407 $ 299,437 $ 194,262 $ 692,106 Excess of revenue over expenditures 9,881 9,881 Amortization of capital assets (81,641) 81,641 Additions to capital assets (note 5) 43,647 (43,647) Balance, end of year $ 160,413 $ 299,437 $ 242,137 $ 701,987 See accompanying notes to financial statements. 3

7 Statements of Cash Flows Cash flows from operating activities: Excess of revenue over expenditures $ 44,752 $ 9,881 Item not involving cash: Amortization of capital assets 80,001 81,641 Change in non-cash operating working capital: Amounts receivable 184,629 (275,867) Contributions receivable 336, ,638 Prepaid expenses 14,716 17,609 Accounts payable and accrued liabilities (288,056) 145,185 Deferred contributions (159,482) 284, , ,309 Cash flows from investing activities: Additions to capital assets (22,401) (43,647) Increase in cash 190, ,662 Cash, beginning of year 1,389, ,486 Cash, end of year $ 1,579,749 $ 1,389,148 See accompanying notes to financial statements. 4

8 Notes to Financial Statements Inuit Tapiriit Kanatami (the Corporation ) is a not-for-profit organization dedicated to the needs and aspirations of Canada's Inuit. Incorporated under Part II of the Canada Corporations Act on January 11, 1972, the Corporation represents the Inuit living throughout the Northwest Territories, Nunavut, Northern Quebec, Labrador and Southern Canada. It is the national voice of Inuit in Canada and addresses issues of vital importance to the preservation of the Inuit identity, culture and way of life. The Corporation is a not-for-profit corporation and is a registered charitable organization under the Income Tax Act (Canada) and as such is not subject to income taxes. On April 1, 2012, the Corporation adopted Canadian accounting standards for not-for-profit organizations in Part III of the CICA Handbook. These are the first financial statements prepared in accordance with Canadian accounting standards for not-for-profit organizations. In accordance with the transitional provisions in Canadian accounting standards for not-for-profit organizations, the Corporation has adopted the changes retrospectively, subject to certain exemptions allowed under these standards. The transition date is April 1, 2011 and all comparative information provided has been presented by applying Canadian accounting standards for not-for-profit organizations. There were no adjustments to net assets as at April 1, 2011 or to excess of revenue over expenditures for the year ended March 31, 2012 as a result of the transition to Canadian accounting standards for not-for-profit organizations. 1. Significant accounting policies: These financial statements are prepared in accordance with Canadian accounting standards for not-for-profit organizations and include the following significant accounting policies: (a) Basis of presentation: The Corporation follows the deferral method of accounting for contributions for not-for-profit organizations. (b) Revenue recognition: Unrestricted contributions and donations are recognized as revenue when received or receivable if the amount to be received can be reasonably estimated and its collection is reasonably assured. Externally restricted contributions are recognized as revenue in the year in which the related expenditures are incurred. 5

9 Notes to Financial Statements (continued) 1. Significant accounting policies (continued): (c) Capital assets: Capital assets are recorded at cost. Repairs and maintenance costs are charged to expense. Betterments which extend the estimated life of a capital asset are capitalized. When a capital asset no longer contributes to the Corporation s ability to provide services, its carrying amount is written down to its residual value. Capital assets are amortized over their estimated useful lives on a straight-line basis using the following rates: Asset Rate Office equipment 20% Leasehold improvements Over the term of the lease (d) Financial instruments: Financial instruments are recorded at fair value on initial recognition. Equity instruments that are quoted in an active market are subsequently measured at fair value. All other financial instruments are subsequently recorded at cost or amortized cost, unless management has elected to carry the instruments at fair value. The Corporation has elected to carry its investments at fair value. Transaction costs incurred on the acquisition of financial instruments measured subsequently at fair value are expensed as incurred. All other financial instruments are adjusted by transaction costs incurred on acquisition and financing costs, which are amortized using the straight-line method. Financial assets are assessed for impairment on an annual basis at the end of the fiscal year. If there is an indicator of impairment, the Corporation determines if there is a significant adverse change in the expected amount or timing of future cash flows from the financial asset. If there is a significant adverse change in the expected cash flows, the carrying value of the financial asset is reduced to the highest of the present value of the expected cash flows, the amount that could be realized from selling the financial asset or the amount the Corporation expects to realize by exercising its right to any collateral. If events and circumstances reverse in a future period, an impairment loss will be reversed to the extent of the improvement, not exceeding the initial carrying value. 6

10 Notes to Financial Statements (continued) 1. Significant accounting policies (continued): (e) Use of estimates: The preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the year. Actual results could differ from those estimates. These estimates are reviewed annually and as adjustments become necessary, they are recognized in the financial statements in the period in which they become known. 2. Cash: Funds used to establish the internally restricted net assets for the Post-Secondary School Revolving Program and the Public Outreach/Education Program have not been deposited in a separate bank account. Accordingly, cash comprises: March 31, March 31, April 1, Internally-restricted cash for: Post-Secondary School Revolving Program $ 18,445 $ 18,445 $ 18,445 Public Outreach/Education Program 280, , ,992 Cash general operations 1,280,312 1,089, ,049 $ 1,579,749 $ 1,389,148 $ 674, Line of credit: The Corporation has a revolving line of credit of $500,000, with interest at prime plus 1.0%. A general security agreement covering all of the Corporation s assets has been pledged as collateral for the line of credit. As of the year-end, no amounts were borrowed against the line of credit. 7

11 Notes to Financial Statements (continued) 4. Contributions receivable: Contributions receivable included in revenue are detailed as follows: March 31, March 31, April 1, Aboriginal Affairs & Northern Development (AANDC) Climate Change Analysis $ 26,202 $ 26,202 $ 82,425 AANDC Inuit Education 10,000 85,000 AANDC Inuit Knowledge Centre 2,000 5,800 25,000 AANDC Inuktitut Magazine 107,413 49,357 50,978 AANDC IPY /Science Report 29,650 15,000 42,148 AANDC Northern Contaminants 22,965 26, ,424 AANDC Summer Students 7,588 1, Canadian Heritage Aboriginal Language 66,667 70,627 53,995 Depart of Fisheries & Oceans Land Use 10,000 Environment Canada Environmental Priorities 20,000 60,000 Environment Canada Polar Bear meetings 25,000 50,000 Environment Canada SARA 24,985 24,985 9,994 Human Resources and Skills Development Canada (HRSDC) Inuit Human Resources 184, ,824 ArcticNet Information Management/Education 110,000 Canadian Partnership Against Cancer 50,000 Government of Nunavut Sealing Lawsuit 25,000 University of Northern British Columbia Inuit Health Survey & Social Determinants 10,000 72,500 AANDC Capacity Building 130, ,332 AANDC Data Assembly Centre 40,000 AANDC Governance Workshop 23,401 3,473 AANDC History of ITK 5,800 AANDC National Aboriginal Day 2,000 AANDC National Inuit Gathering 10,000 AANDC Sealing-EU Legislation 10,000 90,000 AANDC Youth Magazine 3,000 Canadian Heritage National Aboriginal Day 2,000 12,000 Canadian Heritage Youth Summit 54,630 Health Canada Tobacco Control Strategy 230, ,040 Health Canada various projects 93,676 25,000 Carleton University Data Management 47,500 $ 732,021 $ 1,068,463 $ 1,564,101 8

12 Notes to Financial Statements (continued) 5. Capital assets: Accumulated Net book March 31, 2013 Cost amortization value Office equipment $ 1,157,141 $ 1,079,084 $ 78,057 Leasehold improvements 199, ,238 24,756 $ 1,357,135 $ 1,254,322 $ 102,813 Accumulated Net book March 31, 2012 Cost amortization value Office equipment $ 1,134,740 $ 1,039,082 $ 95,658 Leasehold improvements 199, ,239 64,755 $ 1,334,734 $ 1,174,321 $ 160,413 Accumulated Net book April 1, 2011 Cost amortization value Office equipment $ 1,091,093 $ 997,440 $ 93,653 Leasehold improvements 199,994 95, ,754 $ 1,291,087 $ 1,092,680 $ 198, Accounts payable and accrued liabilities: There are no amounts payable for government remittances included in accounts payable and accrued liabilities at year end. 9

13 Notes to Financial Statements (continued) 7. Deferred contributions: The balance of deferred contributions comprises the following: March 31, March 31, April 1, Estate of Sophie Lucky Library Fund $ 600,000 $ $ Health Canada 270, , ,815 NIHB 159, , ,387 Hewlett Packard 86,736 86,736 86,736 A Taste of The Arctic Sponsorships 46,441 Restricted various donations 46,120 46,120 30,262 Aboriginal Human Resources Development 55,898 Canadian Institute of Health Research 25,000 Diamond Jubilee Nunasi Corporation 5,000 Education Centre Vale 166,667 Justice Canada 10,500 Language Counselling Foundation 15,041 Regional Health project 83,454 Transport Canada 10,500 $ 1,209,838 $ 1,369,320 $ 1,085, Net assets: The Corporation considers its capital to consist of its net assets. The Corporation s objectives in managing capital are to safeguard its ability to continue as a going concern and pursue its strategy of promoting Inuit issues through eligible projects that meet the mandate and criteria of its funders, including the Government of Canada and related entities, and to provide benefits to other stakeholders. Management continually monitors the impact of changes in economic conditions on its funding commitments. The Corporation is not subject to externally imposed capital requirements and its overall strategy with respect to capital remains unchanged from the year ended March 31, (a) Invested in capital assets represents the Corporation s net investment in capital assets. 10

14 Notes to Financial Statements (continued) 8. Net assets (continued): (b) Internally restricted net assets represent amounts restricted by the Corporation for specific purposes as follows: March 31, March 31, April 1, Post-Secondary School Revolving Program $ 18,445 $ 18,445 $ 18,445 Public Outreach/Education Program 280, , ,992 $ 299,437 $ 299,437 $ 299,437 (c) Unrestricted net assets are available for general operations and funded projects. 9. Commitments: The Corporation leases its premises under a long-term operating lease, expiring in January The minimum lease payments over the next fiscal year are approximately $170, Contingencies and guarantees: (a) Contingencies: Contributions for the funded activities of the Corporation are subject to conditions regarding the expenditures of the funds. The Corporation s accounting records may be subject to audit by the funding agencies to identify instances, if any, in which the amounts charged to projects have not complied with the agreed terms and conditions, and which, therefore, would be refundable to the funding agency. Adjustments to the financial statements as a result of these audits would be recorded in the period in which they become known. (b) Guarantees: In the normal course of business, the Corporation has entered into a lease agreement for premises. It is common in such commercial lease transactions for the Corporation as the lessee to agree to indemnify the lessor for liabilities that may arise from the use of the leased assets. The maximum amount potentially payable under the foregoing indemnities cannot be reasonably estimated. The Corporation has liability insurance that relates to the indemnifications described above. 11

15 Notes to Financial Statements (continued) 11. Related party transactions: The Corporation is related to Inuit Circumpolar Council (Canada) Inc. and the I.C.C. Foundation by virtue of having a common Board of Directors. In the year, the Corporation contributed $150,000 ( $150,000) to Inuit Circumpolar Council (Canada) Inc. for specified projects. Transactions between the three entities are in the normal course of operations. 12. Financial risks: (a) Liquidity risk: Liquidity risk is the risk that the Corporation will be unable to fulfill its obligations on a timely basis or at a reasonable cost. The Corporation manages its liquidity risk by monitoring its operating requirements. The Corporation prepares budget and cash forecasts to ensure it has sufficient funds to fulfill its obligations. There has been no change to the risk exposures from (b) Credit risk: Credit risk refers to the risk that a counterparty may default on its contractual obligations resulting in a financial loss. The Corporation is exposed to credit risk with respect to the accounts receivable. The Corporation assesses, on a continuous basis, accounts receivable and provides for any amounts that are not collectible in the allowance for doubtful accounts. At year-end, there were no amounts allowed for in accounts receivable. (c) Other risks: Management does not believe that Corporation is exposed to significant interest rate or foreign currency risks from its financial instruments. 12

16 Notes to Financial Statements (continued) 13. Prior year s financial statements: Statement of Operations General Funded Total operations activities 2012 Revenue: Contributions received and receivable $ $ 6,731,464 $ 6,731,464 Other 625, ,749 1,140, ,481 7,246,213 7,871,694 Deferred contributions, beginning of year 137, ,100 1,085,098 Deferred contributions, end of year (137,855) (1,231,465) (1,369,320) Total revenue 625,624 6,961,848 7,587,472 Expenditures: Operating: Advertising 16,641 9,243 25,884 Bank charges 8,555 8,555 Communications 37,289 29,632 66,921 Distribution 12,609 26,938 39,547 Equipment rental 10,925 3,270 14,195 Insurance 14,561 14,561 Office expenses 69,130 63, ,134 Printing 10, , ,528 Professional fees 125,255 1,027,298 1,152,553 Legal fees 4,872 45,237 50,109 Rent 244, , ,526 Salaries and benefits 290,660 2,941,843 3,232,503 Translation 9,343 73,173 82,516 Travel 348, ,487 1,262,872 Capital: Furniture/equipment 43,647 43,647 Affiliated organizations participation: Project activities 758, ,546 1,246,614 6,292,983 7,539,597 Administrative overhead charges (668,865) 668,865 Total expenditures 577,749 6,961,848 7,539,597 Excess of revenue over 47,875 47,875 expenditures before undernoted Amortization of capital assets (81,641) (81,641) Transfer of capital expenditures to net assets (note 8) 43,647 43,647 Excess of revenue over expenses $ 9,881 $ $ 9,881 13

17 Schedule A Detailed Statements of Operations Funded Activities (Unaudited) Department of Environment Aboriginal Various Canadian Canada/ Affairs and Health Other Total Total Heritage/HRDSC DFO Northern Dev. Canada Funders Revenue: Contributions $ 357,851 $ 154,940 $1,937,316 $1,967,255 $1,318,014 $5,735,376 $6,731,464 Other 27,966 27, ,749 Deferred contributions: Beginning of year 1,024, ,708 1,231, ,100 End of year (430,541) (600,000) (1,030,541) (1,231,465) 357, ,940 1,965,282 2,561, ,722 5,964,266 6,961,848 Expenditures: Administration 40,040 20, , ,951 56, , ,865 Advertising 23,447 23,447 9,243 Communications 1, ,507 20,427 14,626 48,159 29,632 Distribution 24,066 25, ,006 26,938 Equipment rental 1,934 1,663 3,597 3,270 Office expenses 360 6,620 83,216 16, ,175 63,004 Printing 20,779 64,203 1,200 2,300 88, ,792 Professional fees 36,814 7, , , , ,236 1,027,298 Legal fees 45,430 45,430 45,237 Rent 6, ,323 12, , ,520 Salaries and benefits 180, ,856 1,056,543 1,346, ,746 3,091,834 2,941,843 Translation 7, ,213 17,142 20,967 77,060 73,173 Travel 40,408 12, , , , , ,487 Affiliated organizations participation: Project activities 44, , , , , ,940 1,965,282 2,561, ,722 5,964,266 6,961,848 Deficiency of revenue over expenditures $ $ $ $ $ $ $ 14

18 Schedule B Detailed Statements of Operations by Funding Source Activities funded by Department of Canadian Heritage and Human Resources and Skills Development Canada (Unaudited) Aboriginal Aboriginal Languages Human Total Total Initiative Resources Revenue: Contributions $ 107,851 $ 250,000 $ 357,851 $ 320,627 Deferred revenue: Beginning of year 55,898 End of year 107, , , ,525 Expenditures: Administration 7,432 32,608 40,040 45,607 Communications 1,681 1, Distribution 24, ,066 6,113 Office expenses ,925 Printing 20,779 20,779 15,215 Professional fees 22,341 14,473 36,814 31,136 Rent 6,000 6,000 7,500 Salaries and benefits 26, , , ,915 Translations 7,238 7,238 4,744 Travel 40,408 40,408 63, , , , ,525 Deficiency of revenue over expenditures $ $ $ $ 15

19 Schedule C Detailed Statements of Operations by Funding Source Activities funded by Environment Canada and Department of Fisheries and Oceans (Unaudited) NACOSAR/ Ocean Environmental Species at Polar Bear Total Total Management Issues Risk Meetings Revenue: Contributions $ 10,000 $ 20,000 $ 99,940 $ 25,000 $ 154,940 $ 209,940 Expenditures: Administration 892 3,000 13,040 3,750 20,682 27,388 Communications ,133 Equipment rental 736 Office expenses 539 Printing 312 Professional fees 7,874 7,874 3,763 Salaries and benefits 16,585 81,477 14, , ,320 Translations ,405 Travel 1,234 5,423 5,453 12,110 63,344 10,000 20,000 99,940 25, , ,940 Deficiency of revenue over expenditures $ $ $ $ $ $ 16

20 Schedule D Detailed Statements of Operations by Funding Source Activities funded by Aboriginal Affairs and Northern Development Canada (AANDC) Page 1 of 2 (Unaudited) Knowledge Northern International Organizational Centre Sealing Summer Contaminants Polar Subtotal Capacity Research Issues Students Program Year Page 1 Revenue: Contributions $ 1,300,000 $ 47,500 $ 27,500 $ 11,061 $ 229,653 $ 29,650 $ 1,645,364 Govt of Nunavut 25,000 25,000 Service Canada 2,966 2,966 1,300,000 47,500 52,500 14, ,653 29,650 1,673,330 Expenditures: Administration 169,560 6,100 2,608 24, ,354 Communications 10,507 10,507 Distribution 7,684 7,684 Office expenses 1,581 4,112 5,693 Printing Professional fees 166,836 18, ,505 Legal fees 20,146 25,284 45,430 Salaries and benefits 823,676 41,400 14, ,132 3, ,735 Translations 4,270 4,270 Travel 95,740 5,939 43,437 22, ,154 Affiliated organizations participation: Administration 5,871 5,871 Salaries and benefits 30,000 30,000 Travel 9,127 9,127 1,300,000 47,500 52,500 14, ,653 29,650 1,673,330 Deficiency of revenue over expenditures $ $ $ $ $ $ $ 17

21 Schedule D Detailed Statements of Operations by Funding Source Activities funded by Aboriginal Affairs and Northern Development Canada (AANDC) Page 2 of 2 (Unaudited) Inuit Subtotal Truth/ Education Inuktitut Total Total page 1 Reconciliation Project Magazine Revenue: Contribution $ 1,645,364 $ 11,952 $ 100,000 $ 180,000 $ 1,937,316 $ 2,359,606 Other 27,966 27,966 2,858 1,673,330 11, , ,000 1,965,282 2,362,464 Expenditures: Administration 202,354 1,559 15,000 16, , ,139 Advertising 2,669 Communications 10,507 10,507 3,810 Distribution 7,684 18,168 25,852 14,351 Equipment rental 1,671 Office expenses 5, ,620 22,898 Printing 64,203 64, ,995 Professional fees 185,505 35,180 23, , ,404 Legal fees 45,430 45,430 45,237 Salaries and benefits 999,735 24,409 32,399 1,056,543 1,032,906 Translations 4,270 5,250 21,693 31,213 35,966 Travel 167,154 10,393 20,161 2, , ,418 Affiliated organizations participation Administration 5,871 5,871 Salaries and benefits 30,000 30,000 Travel 9,127 9,127 1,673,330 11, , ,000 1,965,282 2,362,464 Deficiency of revenue over expenditures $ $ $ $ $ $ 18

22 Schedule E Detailed Statements of Operations by Funding Source Activities funded by Health Canada (Unaudited) Non-Insured Health Health Total Total Department Benefits Revenue: Contributions $ 1,790,255 $ 177,000 $ 1,967,255 $ 3,841,291 Deferred revenue: Beginning of year 830, ,976 1,024, ,202 End of year (270,563) (159,978) (430,541) (1,024,757) 2,350, ,998 2,561,471 3,707,736 Expenditures: Administration 194,699 19, , ,967 Advertising 6,574 Communications 20, ,427 19,006 Distribution ,766 Equipment Rental 1,934 1, Office expenses 49,928 33,288 83,216 32,596 Printing 1,200 1,200 83,238 Professional fees 158,920 49, , ,028 Rent 132, , ,020 Salaries and benefits 1,247,767 98,457 1,346,224 1,456,714 Translation 11,994 5,148 17,142 24,058 Travel 283,058 5, , ,360 Affiliated organizations participation: Administration 22,210 22,210 64,987 Communications 5,133 5,133 23,736 Office expenses 2,310 2,310 12,813 Professional fees 22,548 22,548 43,801 Rent 19,467 19,467 81,009 Salaries 166, , ,507 Travel 10,387 10,387 58,693 2,350, ,998 2,561,471 3,707,736 Deficiency of revenue over expenditures $ $ $ $ 19

23 Schedule F Detailed Statements of Operations by Funding Source Activities funded by Various Sources (Unaudited) Information Inuit Cancer Management Language Education Subtotal Control ArcticNet Systems Standardization Strategy page 1 Revenue: Canadian Partnership/Cancer $ 50,000 $ $ $ $ $ 50,000 University of Laval-ArcticNet 181,815 80,000 30, ,815 Counselling Foundation 100, ,000 Inuvialuit Regional Corp 25,000 25,000 Canadian Institute of Health Royal Bank of Canada 100, ,000 Deferred revenue: Beginning of year 15, , ,708 End of year 50, ,815 80, , , ,523 Expenditures: Administration 7,500 23,715 25,000 56,215 Advertising 23,447 23,447 Communications 1,550 5, ,234 14,626 Equipment Rental 1,663 1,663 Office expenses 26 3, ,203 15,047 Printing 2,300 2,300 Professional fees 1,994 5,587 80,090 87,671 Rent 12,000 12,000 Salaries and benefits 34, ,002 56,000 78,668 63, ,928 Translations ,039 19,703 20,967 Travel 6,154 41,644 20,000 27,633 77, ,659 50, ,815 80, , , ,523 Deficiency of revenue over expenditures $ $ $ $ $ $ 20

24 Schedule F Detailed Statements of Operations by Funding Source Activities funded by Various Sources (Unaudited) Subtotal Arctic Parental Health ITK Social Total Total page 1 Security Engagement Research Library Determinants Revenue: Canadian Partnership/Cancer $ 50,000 $ $ $ $ $ $ 50,000 $ 38,709 University of Laval-ArcticNet 291, , ,815 Counselling Foundation 100, ,000 25,000 Regional Organizations 25,000 25,000 50,000 Canadian Institute of Health Research 25,000 Vale 166,667 Royal Bank of Canada 100, ,000 Gordon Foundation 51,400 51,400 CIBC 50,000 50,000 CISCO 24,080 24,080 Estate of Sophie Lucyk 600, ,000 University Northern BC 25,000 25,000 Other ,700 Deferred revenue: Beginning of year 181,708 25, ,708 End of year (600,000) (600,000) (206,708) 748,523 51,400 74,799 25,000 25, , ,183 Expenditures: Administration 56,215 56,215 28,764 Advertising 23,447 23,447 Communications 14,626 14,626 4,389 Distribution 708 Equipment Rental 1,663 1,663 Office expenses 15,047 1,932 16, Printing 2,300 2,300 17,032 Professional fees 87,671 15,102 30,169 2,806 7, ,230 70,967 Rent 12,000 12,000 Salaries and benefits 341,928 16,238 32,018 5, , ,988 Translations 20,967 20,967 4,000 Travel 172,659 20,060 10,680 22,194 11, ,549 30, ,523 51,400 74,799 25,000 25, , ,183 Deficiency of revenue over expenditures $ $ $ $ $ $ $ $ 21