RA 2006 abrinq.indd - Fundação Abrinq

(c) Current assetsThese assets are stated at cost or realizable amounts, including, when applicable, accruedearnings and monetary variations.(d) Fixed assetsThese assets are stated at cost, including restatements up to December 31, 1995, lessdepreciation calculated on the straight-line basis using the annual rates listed in Note 4,which take into consideration the economic useful lives of the assets.(e) Current liabilitiesThese liabilities are stated at known or estimated amounts, plus accrued charges andmonetary variations, when applicable.The balances at December 31 are as follows:2006 2005 (Reclassified)General fund 2,933,892 2,726,804Operating reserve fund 4,611,807 5,527,245“Nossas Crianças” reserve fund 4,290,078 4,082,134Advances for projects 5,784,283 7,111,11817,619,760 19,447,3014 Fixed Assets3 Financial InvestmentsThese comprise investments in Short-term Fixed Income Funds. At December 31, theFoundation had accounts with the following banks:2006 2005Bradesco S.A. 14,337,963 16,491,020Citibank S.A. 3,281,797 2,956,28117,619,760 19,447,301The financial investments are individually controlled by specific bank accounts, which aredivided in four types:General fund - comprises donations from sponsors of the Foundation for the constitutionof the fund, the earnings from which are used to maintain the Foundation.Operating reserve fund - comprises sporadic donations from third parties, not linked toany project, that are used to pay administrative expenses of the Foundation.Furniture andfixtures/officeequipmentLeaseholdimprovementsComputers andperipheralsTelephoneequipmentInstallationsMachinery andequipmentSoftwareRights of useRestatedcost236,94342,680315,23025,73025,2492,960149,635798,427Accumulateddepreciation(99,879)(11,468)(232,833)(25,588)(11,913)(638)(102,057)(484,376)2005 2005Net Net137,06431,21282,39714213,3362,32247,578314,051176,88540,822113,5711,50243,40814,52858,52833,229482,473Annualdepreciationrates - %1042010101020“Nossas Crianças” reserve fund - comprises regular and spontaneous donations whichare not established by contract in the Nossas Crianças project, and without designation ofthe institutions to be benefited. The funds are utilized, when necessary, to cover contributiondefaults in order to avoid problems with the continuation of projects.Advances for projects - comprises funds received in advance from sponsors for futureuse in specific projects maintained by the Foundation.75