Highlights - Glenbow Museum

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Management’s Report The financial statements of the Institute are the responsibility of management and the Board of Governors. They have been prepared by management in accordance with accounting principles generally accepted in Canada, applied on a consistent basis. In fulfilling its responsibilities, management has developed, and maintains, a system of internal controls designed to safeguard assets and the collection from loss or unauthorized use and ensure the accuracy of the financial records. The financial statements necessarily include certain estimates which are made after consideration of the information available and using careful judgements. The Board of Governors exercises its responsibilities for financial controls through the Audit/Investment Committee which is comprised of Governors who are not employees of the Institute. The Committee meets with management and the external auditors to satisfy itself that the responsibilities of the respective parties are properly discharged and to review the financial statements before they are presented to the Board for approval. Deloitte & Touche LLP have examined the financial statements for the year 2004, and their report to the Board of Governors is presented herein. Michael P. Robinson PRESIDENT & CHIEF EXECUTIVE OFFICER Marion A. Shill CHIEF FINANCIAL OFFICER & CORPORATE SECRETARY 18 Glenbow Museum ANNUAL REPORT 2003/04
Auditors’ Report To the Board of Governors of the Glenbow-Alberta Institute: We have audited the balance sheet of Glenbow-Alberta Institute as at March 31, 2004 and the operating fund statement and the statements of operations and changes for endowment and designated fund balances and cash flows for the year then ended. These financial statements are the responsibility of the Institute’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance 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 audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. In our opinion, these financial statements present fairly, in all material respects, the financial position of the Institute as at March 31, 2004 and the results of its operations and its cash flows for the year then ended in accordance with Canadian generally accepted accounting principles. Calgary, Alberta June 8, 2004 CHARTERED ACCOUNTANTS Glenbow Museum ANNUAL REPORT 2003/04 19
Page 1 and 2: 2003/04 Annual Report
Page 3 and 4: Chair’s and President’s Message
Page 5 and 6: Eric Harvie’s Vision Eric Laffert
Page 7 and 8: CPR Oilwell, Dunmore, 1910. Glenbow
Page 9 and 10: Mavericks: An Incorrigible History
Page 11 and 12: 2003/04 Highlights - Travelling Exh
Page 13 and 14: 2003/04 Highlights - BSI: Bog Scien
Page 15 and 16: Support Glenbow Museum relies on co
Page 17 and 18: Financial Review Contents 16 Analys
Page 19: FINANCIAL OUTLOOK The most importan
Page 23 and 24: Operating Fund Statement FOR THE YE
Page 25 and 26: Statement of Cash Flows FOR THE YEA
Page 27 and 28: The Library Fund was established fr
Page 29 and 30: NOTE 7 DEFERRED REVENUE - LONG TERM
Page 31 and 32: Current and Upcoming Exhibitions

Highlights - Glenbow Museum

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