BBSR 2002 Annual Report - Bermuda Institute of Ocean Sciences

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FINANCIAL OVERVIEWOperating RevenuesNote: U.S. Government includes the following funding agencies: the National Science Foundation (NSF),the National Oceanic and Atmospheric Administration (NOAA), the National Aeronautics and SpaceAdministration (NASA), and pass-through funding from other institutions. Loss on investments not included.Operating Expenses22
FINANCIAL STATEMENTSINDEPENDENT AUDITORS’ REPORTThe Board of Trustees and MembersThe Bermuda Biological Station for Research, Inc.We have audited the accompanying statements of financial position of The Bermuda Biological Stationfor Research, Inc. (“Station”) as of December 31, 2002 and 2001, and the related statements of activitiesand cash flows for the years then ended. These financial statements are the responsibility of the Station’smanagement. Our responsibility is to express an opinion on these financial statements based on ouraudits.We conducted our audits in accordance with auditing standards generally accepted in the United States ofAmerica. Those standards require that we plan and perform the audits to obtain reasonable assuranceabout whether the financial statements are free of material misstatement. An audit includes examining,on a test basis, evidence supporting the amounts and disclosures in the financial statements. An auditalso includes assessing the accounting principles used and significant estimates made by management, aswell as evaluating the overall financial statement presentation. We believe that our audits provide areasonable basis for our opinion.In our opinion, the financial statements referred to above present fairly, in all material respects, thefinancial position of The Bermuda Biological Station for Research, Inc. as of December 31, 2002 and2001, and the changes in its net assets and its cash flows for the years then ended in conformity withaccounting principles generally accepted in the United States of America.O’Connor Davies Munns & Dobbins, LLPNew York, New YorkMarch 8, 200323
Page 1 and 2: The Bermuda Biological Station for
Page 3 and 4: 2 4 68 10 12TABLE OF CONTENTSFrom t
Page 5 and 6: This report outlines BBSR’s advan
Page 7 and 8: previous two decades. Research cond
Page 9 and 10: BATS have documented a rise in ocea
Page 11 and 12: scallop larval rearing. Since the s
Page 13 and 14: The resulting libraries of bacteria
Page 15 and 16: The Risk Prediction Initiative: A S
Page 17 and 18: HONOR ROLL OF DONORSTHE ASSOCIATES
Page 19: HONOR ROLL OF DONORSTHE ASSOCIATES
Page 22 and 23: Matching GiftsHONOR ROLL OF DONORSO
Page 26 and 27: STATEMENTS OF FINANCIAL POSITIONDEC
Page 28 and 29: STATEMENT OF ACTIVITIESYEAR ENDED D
Page 30 and 31: 1. OrganizationNOTES TO FINANCIAL S
Page 32 and 33: 7. Sponsored ProjectsNOTES TO FINAN
Page 34 and 35: Air Quality ProgramDr JAK Simmons,
Page 36 and 37: GRADUATE RESEARCH PROGRAMSAssembly
Page 38 and 39: Neuer, S, R Davenport, T Freudentha
Page 40 and 41: 2002VOLUNTEERSLore AyoubSandra Blaj
Page 42 and 43: ScientistsSenior ScientistsNicholas
Page 44 and 45: Bermuda Biological Stationfor Resea

BBSR 2002 Annual Report - Bermuda Institute of Ocean Sciences

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