2007 / 2008 - Active Living Coalition for Older Adults

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1. THE ORGANIZATION Active Living Coalition for Older Adults / Coalition D’Une Vie Active Pour Les Aîné(e)s (the “organization”) is a not for profit organization incorporated under the laws of Canada without share capital. The organization’s goals are to undertake public education, communicate research and study results in plain language, to train community based volunteer presenters and to hold education events and activities regarding the health benefits of active living for older adults. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies of the organization are in accordance with Canadian generally accepted accounting principles. Outlined below are those policies considered particularly significant: Investments The cost of short term securities and term deposits maturing within a year, plus accrued interest income, approximates the fair value of these instruments. Capital assets Capital assets individually in excess of $5,000 are recorded at cost. Amortization is provided annually at rates calculated to write off the assets over their estimated useful lives. Revenue and expense recognition Government assistance related to current expenditures is reflected in the accounts as a revenue item in the current period. Assistance related to the purchase of capital assets is recorded as revenue in the same period the related capital assets are charged to operations. The organization follows the deferral method of revenue recognition. Under the deferral method, grants received in the year for expenses to be incurred in the following fiscal year are recognized as deferred revenue. Membership fees are recorded when received. Interest and other income are recorded when earned. Donated materials and services which are normally purchased by the organization are not recorded in the accounts. Use of estimates The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in the period in which they become known. 3. FINANCIAL INSTRUMENTS The organization’s financial instruments consist of cash, accounts receivables, and accounts payable and accrued liabilities. It is management’s opinion that the organization is not exposed to significant interest, currency or credit risks. The fair value of these financial instruments approximates their carrying values. 4. DESIGNATED NET ASSETS The Guardians (Board of Directors) of the organization have established a reserve of $53,530 as at March 31, 2008 ($53,530 as at March 31, 2007) to cover expenses in the event of an interruption in funding or an income shortfall. 5. DEFERRED REVENUE Deferred revenue is composed of the following: 2008 2007 Health Canada Fitness Unit $ 24,337 $ 299,400 6. HEALTH CANADA GRANTS Health Canada funding recognized in the year was as follows: 2008 2007 Health Canada Fitness Unit $ 44,800 $ 48,658 Diabetes Strategy 314,400 $ 359,200 $ 48,658 7. INCOME TAX STATUS The organization is exempt from income tax in Canada as a registered charitable organization under the Income Tax Act (Canada). ALCOA Annual Report 14
Ottawa, February 2008 National Diabetes Consultation Meeting National Meeting Participants Large group gathering background information Small group work with Paul Jenkins (PEI) taking the notes Small group work with Anne Vogel (BC) and Jim Frankish (BC) in charge of the flip chart Western Regional Committee members providing details on their ‘leading practices’ (l to r) Patsy Beattie-Huggan, (facilitator) Bill Hearst (co-ordinator) Jim Frankish (western region rep.) 15 ALCOA Annual Report
Page 1 and 2: Active Living Coalition for Older A
Page 3 and 4: Report from the Chair Active living
Page 5 and 6: National Executive Director Report
Page 7 and 8: In Memoriam Archie MacKeigan, a won
Page 9 and 10: • check out the library and/or vi
Page 11 and 12: ALCOA Round Table Member Organizati
Page 13: Statement Of Financial Position As

2007 / 2008 - Active Living Coalition for Older Adults

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