L'Association Des Francophones De Nanaimo

Notes to the Financial Statements
For the year ended March 31, 2009

Investment

The investment is a term deposit bearing interest at 5.25% (2008 - 3.50%) and matures November 1, 2009. This
investment is required by the Association's creditor as security for overdraft privileges. The Association intends to renew

the investment at maturity.

Bank indebtedness

The Association has a permanent line of credit of $20,000 bearing interest at prime plus 1%, secured by the investment with
a carrying value of $27,827 (2008 - $26,253). At March 31, 2008, the credit limit has been temporarily extended to $70,000.

Deferred revenue

2009
Opening balance of donated inventory 8,716
Contributions of donated inventory during the year 16,567
Less: Used during the year (15,056)
Total deferred contributions 10,227
Gifts in kind
During the year, gifts of goods and services were received and utilized for the following activities:
2009
Event costs 187,650
Wages and employee benefits 21,408
Goods received - maple syrup 16,567
Goods transferred to inventory (1,512)
Travel costs 2,016
226,129
Grants and government contributions
2009
Canadian Heritage 105,584
Presentation of the arts 20,000
Industry Canada . 3,709
Service Canada -
Federal Government Funding - other -
Province of Quebec 10,000
Province of B.C. 65,000
BC Art Council 3,000
City of Nanaimo 15,000
222,293

2008

2,127
45,741
(9,152)

8,716

2008

154,715
23,080
45,742
(6,590)
1,450

188,397

2008

103,500
15,000
9,709
2,803
4,222
5,000
65,000
2,500
7,000

214,734

Mp