<strong>Report</strong> of the Independent Auditor on the Summary Statement of Operations DISTRESS CENTRES <strong>Report</strong> of the Independent Auditor on the Summary Statement of Operations TO THE MEMBERS OF DISTRESS CENTRES The accompanying summary statement of operations for the year ended December 31, <strong>2014</strong> is derived from the audited financial statements of <strong>Distress</strong> <strong>Centres</strong> for the year ended December 31, <strong>2014</strong>. We expressed a qualified audit opinion on those financial statements in our report dated March 23, 2015 (see below). The summary statement of operations do not contain all the disclosures required by Canadian accounting standards for not-for-profit organizations. Reading the summary financial statements therefore, is not a substitute for reading the audited financial statements of the <strong>Centres</strong>. Management’s Responsibility for the Summary Financial Statements Management is responsible for the preparation of a summary of the audited financial statements in accordance with Canadian accounting standards for not-for-profit organizations. Auditor’s Responsibility Our responsibility is to express an opinion on the summary statement of operations based on our procedures, which were conducted in accordance with Canadian Auditing Standard (CAS) 810, “Engagements to <strong>Report</strong> on Summary Financial Statements”. However, the summary financial statements may be misstated to the equivalent extent as the audited financial statements of the <strong>Centres</strong> for the year ended December 31, <strong>2014</strong>. Opinion In our opinion, the summary statement of operations derived from the audited financial statements of <strong>Distress</strong> <strong>Centres</strong> for the year ended December 31, <strong>2014</strong> is a fair summary of those financial statements, in accordance with Canadian accounting standards for not-for-profit organizations. In our report dated March 23, 2015 on the audited financial statements, we expressed a qualified opinion. Our qualified audit opinion is based on the fact that in common with many similar organizations, the <strong>Centres</strong> derives revenues from fund-raising events and donations, the completeness of which is not susceptible to satisfactory audit verification. Accordingly, our verification of these revenues was limited to the amounts recorded in the records of the <strong>Centres</strong> and we are not able to determine whether any adjustments might be necessary to revenues, deficiency of revenues over expenses, assets and net assets. Our qualified opinion states that except for the possible effects of described matter, if any, those financial statements present fairly, in all material respects, the financial position of the <strong>Centres</strong> as at December 31, <strong>2014</strong>, and its financial performance and its cash flows for the year then ended in accordance with Canadian accounting standards for not-for-profit organizations. Toronto, Ontario March 23, <strong>2014</strong> CHARTERED ACCOUNTANTS Licensed Public Accounts 14 <strong>Distress</strong> <strong>Centres</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2014</strong>
Summary Statement of Operations YEAR ENDED DECEMBER 31, <strong>2014</strong> Revenues United Way of Greater Toronto Grants - City of Toronto TTC Crisis Link Corporations, foundations and church groups Donations - individuals Fund-raising events (net of expenses) Emergency Medical Services Professional Association of Residents of Ontario (PARO) grant Amortization of deferred capital grants Interest and miscellaneous <strong>2014</strong> $ 299,326 109,300 108,367 111,853 112,128 205,656 22,338 61,961 10,142 10,411 1,051,482 2013 $ 292,917 106,935 107,250 161,051 73,881 265,676 22,338 61,500 8,940 9,571 1,110,059 Expenses Salaries and employee benefits Building occupancy Office - telephone, supplies, postage, etc. Volunteer recruitment, training and resources Accounting and audit Depreciation Other 707,899 111,700 164,741 66,187 8,159 10,943 31,034 1,100,663 685,753 112,640 162,064 70,030 8,237 10,215 33,486 1,082,425 Deficiency of revenues over expenses for the year $ (49,181) $ 27,634 <strong>Distress</strong> <strong>Centres</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2014</strong> 15
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