Annual REPORT - Elections Manitoba
Annual REPORT - Elections Manitoba
Annual REPORT - Elections Manitoba
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ELECTIONS MANITOBA<br />
RETURNING OFFICES - 40 th GENERAL ELECTION<br />
NOTES TO FINANCIAL STATEMENTS<br />
MARCH 31, 2012<br />
1. ENTITY DEFINITION<br />
<strong>Elections</strong> <strong>Manitoba</strong> is an independent office of the Legislative Assembly for the Province<br />
of <strong>Manitoba</strong>.<br />
These financial statements reflect the financial activity relating to the operation of the<br />
57 provincial Returning Offices for the 40 th General Election. These costs are required to<br />
fulfil statutory obligations under The <strong>Elections</strong> Act.<br />
2. SIGNIFICANT ACCOUNTING POLICIES<br />
These financial statements are in accordance with Canadian public sector accounting<br />
standards and reflect the following policies:<br />
Financial Instruments<br />
Fair market value<br />
The carrying value of financial instruments consisting of accounts<br />
receivable and bank indebtedness approximate fair value due to their<br />
short term maturity.<br />
Use of Estimates<br />
The preparation of the financial statements in conformity with Canadian public<br />
sector accounting standards requires management to make estimates and assumptions<br />
that affect the reported amounts of assets and liabilities (and disclosure<br />
of contingent assets and contingent liabilities) at the date of the financial<br />
statements and the reported amount of revenues and expenses during the<br />
reporting period. By their nature, these estimates are subject to measurement<br />
uncertainty and actual amounts could differ from these estimates.<br />
3. STATEMENT OF CASH FLOWS<br />
A statement of cash flows has not been presented, as it was determined that there was<br />
no significant value added to the financial statements by preparing the statement.<br />
APPENDIX C<br />
66