| About Skyrock Forest Arts inc | Accounts | 2004 Statement Financial Position |
Statement of Financial Position as of Jan.31, 2005
Canadian Dollar$ unless noted
| General Operating Fund | Assets | (*4) Skyrock Forest 2147 Project Fund (restricted) | SGN Culture Fund (restricted) | (*5) Redcloud Thunder Fund (restricted) | Breast Health Fund (restricted) | Boreal Forest Fund (restricted) | Total 2004 | Total 2003 | ||||
| Current Assets | ||||||||||||
| Cash & term deposits | CA25.47 & |
US771.11 |
28.26 |
US28.80 |
1.05 |
CA54.78 & US903.71 |
||||||
| Receivable | ||||||||||||
| Capital Assets, Net (*7) | 1286.67 |
1286.67 |
||||||||||
| totals | CA25.47 & |
1286.67 |
US771.11 |
28.26 |
US28.80 |
1.05 |
CA1341.45 & US903.71 |
|||||
| Current Liabilities | ||||||||||||
| Accounts Payable | ||||||||||||
| Deferred Contributions
|
-(US771.11) |
-(28.26) |
-(US28.80) |
-(1.05) | -(CA29.31) & -(US799.91) |
|||||||
| totals | ||||||||||||
| Fund Balances | ||||||||||||
| Unrestricted | CA25.47 & |
|||||||||||
| Restricted (*1) | 0 |
0 |
0 |
0 |
||||||||
| Grand Total 2004 | ||||||||||||
| totals |
*4. Skyrock Forest 2147 Project Fund is Suspended as of
Nov.8, 2004.
*5. Redcloud Thunder Fund is Suspended as of Feb.21, 2005.
| About Skyrock Forest Arts inc | Accounts | 2003 Financial Position |
Statement of Financial Position as of Jan.31, 2004
Canadian Dollar$ unless noted
| General Operating Fund | Assets | Skyrock Forest 2147 Project Fund (restricted) | SGN Culture Fund (restricted) | Redcloud Thunder Fund (restricted) | Breast Health Fund (restricted) | Total 2003 | Total 2002 | |
| Current Assets | ||||||||
| Cash & term deposits | ||||||||
| Receivable | ||||||||
| Capital Assets, Net (*7) | 1366.90 |
1366.90 |
2155.00 |
|||||
| totals | 1366.90 |
1366.90 |
||||||
| Current Liabilities | ||||||||
| Accounts Payable | 58.03 |
58.03 |
||||||
| Deferred Contributions
|
||||||||
| totals | 58.03 |
58.03 |
||||||
| Fund Balances | ||||||||
| Unrestricted | (-58.03) |
1366.90 |
1308.87 |
|||||
| Restricted (*1) | US 735.87 |
28.26 |
32.23 |
26.75 |
US 735.87 + CA 87.24 |
|||
| Grand Total 2003 | ||||||||
| totals | (-58.03) |
1366.90 |
US 735.87 |
28.26 |
32.23 |
26.75 |
US 735.87 + CA 1396.11 |
Accounting Method
SFAinc uses the deferral
method of accounting for contributions in
conjunction with fund accounting.
Page 7, _Not-for-profit Financial Reporting Guide_
Kerry Danyluk, CA (Cdn Inst. Chartered Accountants,
1998, Toronto)
Notes
1.) About Contributions
SFA inc receives 2 kinds of financial contributions.
The first, Product sales generates Revenue that
goes first into General Operating Fund, from which portions
are transferred into different Restricted Funds, by a
set formula related to each specific product.
The second kind of financial contribution
is cash contributions from individuals, supplied for expenditures, or
supplied to even up the balances of Funds.
Non-cash contributions include loaned equipment
and contributor-purchased services.
3.) Restricted Funds: Restricted funds contributions
deriving from book sales are externally restricted by
the customer, and by others in the process of advertising
and selling, due to SFAinc's promise that a portion of
books income will support the various good causes as
stated.
It is yet to be determined whether a small portion of Skyrock
Forest Fund contributions may have been attributable to
Lee Murray or other persons in pre-incorporation years
(rather than book sales). This will be ascertained from
bank information in 2004, and all accounts for the pre-incorporation
period will be reported.
7.) Capital Assets
Equipment, leased services, inventory, copyrights.
Contributions to assets includes loaned equipment and
contributor-purchased services. See Statement of
Operations & Changes Fund Balances, and Contributions.