10. 11. 12. Grants and government contributions Canadian Heritage City of Nanaimo Federal Government funding - other Human Resource Development Canada Presentation of the arts Province of Quebec Industry Canada Province of B.C. BC Art Council Event costs Marketing, promotion and advertising Performers Materials and incidentals Accommodations, food and technical services Other costs Prior period adjustment L' Association des Francophones de Nanaimo Notes to the Financial Statements For the year ended March 31, 2006 2006 126,196 7,000 9,675 3,520 15,000 17,000 35,905 7,120 2,500 223,916 2006 147,466 37,836 , 15,807 30,857 986 232,952 2005 85,000 6,000 10,984 3,520 30,000 15,000 12,000 15,380 177,884 2005 206,223 30,613 24,167 25,892 872 287,767 During the year ended March 31, 2006 the Association changed its accounting policy for amortization of Capital Assets. Under the previous policy capital assets were recorded at cost but were not amortized. Under the new accounting policy, capital asset purchases are recorded at cost and are amortized according to the Association's Capital Asset policy. The change has been applied with retroactive effect, accordingly the comparative figures have been restated, as follows: - Capital assets decreased by $49,798 - Amortization expenses increased by $6,152 - Excess of revenues over expenses decreased by $6,152 - Investment in capital assets, beginning of the year decreased by $49,798 - Investment in capital assets, end of the year decreased by $55,950 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. Mvp