L' Association des Francophones de Nanaimo

Notes to the Financial Statements
For the year ended March 31, 2006

Deferred contributions

2006 2005
Opening balance of donated inventory 6,596 -
Contributions of donated inventory during the year 12,000 10,000
Less: Used during the year (12,004) (3,404)
6,592 6,596
Opening balance - Entente Cardre Canada project 2,120 -
Entente Cadre Canada project - Contributions from Province of B.C. during the year 5,000 12,500
Less: recognized as revenue during the year (7,120) (10,380)
- 2,120
Total deferred contributions 6,592 8,716

Lease commitments

The Association rents its premises on a month to month basis with no long-term lease in place.

The Association entered into a lease agreement April 1, 2003 for office equipment. This lease term is 42 months with
estimated minimum annual payments as follows:

2007 1,472
2008 736

Gifts in kind

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

2006 2005
Event costs 159,596 213,452
Wages and employee benefits 32,400 29,744
Goods used and sold - maple syrup 12,503 3,405
Travel 1,775 400
206,274 247,001