L'ASSOCIATION DES FRANCOPHONES DE NANAIMO
STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR ENDED MARCH 31, 2004

200 2003
INVESTMENT IN CAPITAL ASSETS
BALANCE AT BEGINNING OF YEAR $ 58,465 $ 50,065
Capital asset additions funded by operations 9,630 3,900
Capital asset additions externally funded by Industry Canada - 4,500
Capital asset disposals (2,188) -
BALANCE AT END OF YEAR $ 65,907 $ 58,465
UNRESTRICTED NET ASSETS
BALANCE AT BEGINNING OF YEAR $ 59,651 $ 64,695
Excess (deficiency) of revenues over expenses 6,693 (1,144)
66,344 63,551
Capital asset purchases net of disposals (7.443) (3.900)
BALANCE AT END OF YEAR $ 58.901 $ 59.651

See notes to financial statements

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