L'ASSOCIATION DES FRANCOPHONES DE NANAIMO
NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED MARCH 31, 2004

LEASE COMMITMENT
The Association rents its premises on a month to month basis with no long-term lease in place. The
Association entered into a lease April 1, 2003 for office equipment. This lease term is 42 months with

minimum lease payments as follows:

Minimum operating lease payments:

2005 $ 1,472

2006 1,472

2007 736
ECONOMIC DEPENDENCE

The association's main source of income is derived from grants from the Federal Government and
its agencies. It's ability to continue viable operations is dependent upon the continued support from the
Federal Government.

GIFTS IN KIND

During the year, gifts of goods and services were received for the following activities.

2004 2003
Events $ 152,704 $ 150,533
Wages and employee benefits 40,000 38,957
Goods used and sold - maple syrup 12,500 -
Travel 1,678 3.250

$ 206.882 $ 192.740