combined financial statements of etats financiers combines

8/14/2019 Combined Financial Statements of Etats Financiers Combines

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CANADIAN FEDERATION OF STUDENTSAND CANADIAN FEDERATION OFS TU DE NT S - SE RV IC E SC om bi n ed Financial St at em en tsJ u ne 30, 20 05

P A G E

FEDERATION CANADIENNE DES ETUDIANTESET ETUDIANTS ET FEDERATION CANADIENNEDES ETUDIANTES ET ETuDIANTS - S ER VI CE SE ta t s f ina nci e rs co m bi n esLe 30 juin 20 05

Co m b ined B ala nce S he et

C om bin ed S ta te m ent of R eve n ue an d E xp ens e s

Co mb ine d S ta tem en t of C ha ng e s in N et A sse ts

o m b ine d S ta te m e n t of C ash Flows

N ote s to the Co m b ine d F in anc ial St at em en ts

Bilan com b in e

E ta t co m b ine d es r eve n us e t d es d p en se s

E ta t com bin e de evo lut io n d e lactif net

E tat co mb ine de s flux de tr sor erie

No tes com pl me nta ires

1

2

3

4

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C AN AD IA N F ED ER AT IO N OF S TU DE NT S AND FE D E R A T IO N C AN AD IEN N E DE S ET U D IA N T E SC A N A D IAN FE DE R A TIO N O F E T ET UD IA N T S E T F E DE RA TI O N C A N A D IE NN ES TU DE NT S SE R V ICE S DE S ET uD IAN TE 5 ET E Tu D IA N T S - S ER VI CE SCo mb ine d B a la n ce S he e t B il an co m bi n ea s at Ju n e 30, 20 05 au 30 Juin 200 5

2005 20 04

CURREN T ASSE TS ACTIF A COURT TERME

C as h $ 680,9 00 S 87 8 70 6 T rs ore neS h or tt erm inv est men ts (no te 41 2 ,50 4 ,9 8 6 17 59 ,071 P lac eme nts a cou rt te rm e (no te 4)A cco unts rec e iva ble D b iteu rsT rad e an d d ue from m em ber cam pus es 1,530,64 1 10 2 7, 1 66 Clients et ca mp us m em br asDue from C an adia n Un ive rsities Travel C an adia n Univ ers itie s TravelSer v ice Limited 386 ,9 96 Se r vIc e Limited

P re p aid ex p en ses 153 , 378 38, 753 Fra is pay s d av anc e

4 ,8 69 ,9 05 4 ,08 8 ,6 92

INVESTMENT IN CANADIAN PLACEMENT DANS CANADIAN

UNIVERSITIES TRAVEL UNIVERSITIES TRAVELSER VICE LIMITED (no te 5) 8 ,4 2 6, 076 10, 596 ,5 93 SERVICE LIMITED (n ote 5)AL AS SE TS note 61 17,9 71 157 ,75 9IM M O 8I LIS AT IO NSO RP OR EL LE Sn o ta6

$ 13 ,413 ,95 2 $ 14 ,8 43 ,04 4

CURRENT LIABILITIES PA SSIF A COU RT TERME

A cco unt s pay abl e and acc rue d liabilities $ 1,2 44, 890 $ 855 ,56 5 Cr dit eur s e t ch a rg e s a paye rDue to Ca nad ian Un iversities Travel Ca nad ian Univ ers itie s TravelS er vi ce Limited 56, 027 Se rvic e Limited

P rog ram d ep o si ts 11 6,5 78 172 ,695 D epo ts au titre d e s pr ogr amm es

1,4 17 ,4 9 5 1,0 28 ,2 60

NET AS SE TS ACTIF NET

Inve ste d in C ana d ian Un ive rsit ies Montant investi da n s C ana d ian Univ ers itiesTravel Se rvi ce Limited 8 ,4 26, 076 10 ,59 6 ,5 9 3 Travel Se rvic e Limited

Inv est ed in ca pit a l a s se ts 11 7,9 71 157 , 759 Montant invest) thin s d es immobilisati ons co rp o re ll esD esi gna te d fun ds (no te 9) 1,7 67 ,8 68 1 ,72 6 ,0 8 2 Fon ds rest re in ts (no te 9)N on- des ign a te d fun d s 1 ,6 8 4,5 42 1, 334 ,3 50 Fon ds non re str e int s

1 1, 9 96 457 13, 814 ,78 4

$ 13 ,41 3 ,9 5 2 $ 14 ,8 43, 044

ON BEHALF OF THE NATIONAL EXECUTIVE AU NOM DE LEXECUTIF NATIONAL,

C hai rp ers on

__ ___ ___ ___ __ ___ ___ __ ___ ___ _

P r s id ent

De puty C hai rp ers on V ice -pr sid ent


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,CANADIAN FEDERATION OF STUDENTS ANDDANADIAN FEDERATION OFSTUDENTS - SERVICESCombined Statement of Revenue and Expensesyear ended June 30 , 2005

FEDERATION CANADIENNE DES ETuDIANTEsET ETUDIANTS ET FEDERATION CANADIENNEDES ETUDIANTES ET ETuDIANTs - SERVICESEtat combine des revenus et des dpensesde Iexercice termin le 30 juin 2005

RevenueMembership fees

Referral fee from CUTS (note 3)Health insurance program (note 8)Investment income

The Student Traveller, net (note 7)Student Work Abroad Program (SWAP)income, net

Other incomeSIC, net (note 3)

2005

$ 2,770,769

474,50533,068

162,546

838

89,03811,157(39,825)

3,502,096

2004

$ 2.659,523

983,64789,03418,311

20.195

24.98333,580(15,861)

3.813,412

RevenusCotisationsCommission pour recommandationde CUTS (note 3)

Programme dassurance-maladie (note 8)Revenu de placementsRevenu net tire du magazine Etudiantvoyageur (note 7)

Revenu net tire du programme de vacancestravail (PVT)

Autres revenusISIC, montant net (note 3)

DepensesAdministration et bureauAmortissement desimmobilisations corporelles

Crances irrcouvrablesFrais bancaires et intrtsCampagnesComit electoral et repartition auxcomposantes provinciales (note 3)

Travail de coalitionCommunicationsAllocations aux lecteurs(trices) - general

Allocations aux electeurs(trices) - autochtoneHonoraires juridiques et de verificationAdhesions, dveloppement et rayonnementRecrutement referendumsReunions nationales des cadres superieursTraitements des membres de lexecutif nationalAssembles nationales generalesLoyer de bureauxAutresRechercheAnnuaire du syndicat des tudiantsTraduction

194,684 160,639

ExpensesAdministration and officeAmortization ofcapital assets

Bad debtsBank charges and interestCampaignsCaucus andcomponent allocation (note 3)

Coalition workCommunicationsConstituency allocations - general

Constituency allocations - AboriginalLegal and auditMembership development and outreachMembership drives - referendaNational executive meetingsNational executive salariesNational general meetingsOffice rentOtherResearchStudents Union DirectoryTranslation

41,329275,59116,761

108,703

603,7059,059

44,12123,542

10,257400,45037,44210,48047,405

136,069157,492151,81726,625

104,12524,22310,026

42,359173,69510.067

195,971

562,7199,169

105,97115,668

23,919205,74034,1145,843

36,887147,368105,300150.52328,92491.48221,38919,620

2,433,906 2,147,367

Excess of revenue over Excdent des revenus sur les depensesexpenses before loss of CUTS 1,068,190 1,666,045 avant Ia per te de CUTS

INCOME (LOSS) OF CUTS (note 5) 49,348 (1,265.803) BENEFICE (PERTE) DE CUTS (note 5)

Legal settlement (Notes 1 and 4) (2,935,865) Reglement judiciaire (notes 1 et 4)

EXCESS (DEFICIENCY) OF EXCEDENT (INSUFFISANCE) DES%REVENUE OVER EXPENSES $ (1 818 327) $ 400 242 REVENUS SUR LES DEPENSES1W

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CANADIAN

FEDERATION

OFSTUDENTSAND

CANADIAN

FEDERATION

OF

STUDENTS-

SERVICES

CombinedStatementof

hangesinNet

ssets

yearndedJune30,005

Investedin

Canadian

Universities

Travelervice

Limited

Investedin

capitalssets

FEDERATION

CANADIENNED

ESETUDIANTES

ETETUDIANTSETFEDERATION

CANADIENNE

DESETuDIANTESETETUDIA

NTS-

SERVICES

EtatcombinedeIvolutiondeIactifet

deIexerciceerminle30juin2005

M

ontantnvesti

dansanadian

Universities

Travelervice

Liied

$

10,596,593

$

157,759

Fonds

Fonds

restreints

nonrestreints

Total

2005

2004

Excess(deficiency)frevenue

overexpenses

(2,660,865)

(253,214)

1,095,752

(1,818,327)

Excdentinsuffisance)es

400.242

revenusuresepenses

Amortizationof

capitalassets

Acquisitionof

capitalassets

IncomeofCUTS

Purchaseofreferred

sharesinCUTS

Nettransferstoesignated

fundsnote9)

Amortissementes

immobilisationsorporelles

Acquisitiondimmobilisations

corporelles

BnficeeCUTS

Acquisitiondactionsprivilegiees

dans

UTS

Transfertsetsuxfonds

restreintsnote9)

Designated

Non-designated

funds

funds

BALANCE,BEGINNINGOFYEAR

Montantnvesti

dans

es

immobilisations

corporelles

$

1,726,082

$

1,334,350

$

13,814,784

$

13,14542

SOLDEAU

DEBUT

(59,148)

-

59,148

-

19,360

-

(19,360)

49,348

-

-

(49,348)

441,000

-

-

(441,000)

-

-

295,000

(295,000)

-

-

BALANCE,END

OFYEAR

$

8,426,076

$

117,971

$

1,767,868

$

1,684,542

$

11,996,457

$

13.814.784

SOLDEA

LA

FIN


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CAN AD IA N FED ERAT IO N O F ST U D EN TS ANDCANAD IA N FED ERAT IO N O F

ST UD EN TS - SER V IC E SC o m b in e d S ta t e m e nt o f C ash F lo w syea r e n d ed J u n e 30 , 200 5

FE DE RA TI ON CA NAD IE NNE DE S ET U D IAN TE SET ETUD IAN TS ET FED ERAT IO N CA NA DI ENNEDES ETU DI ANTES ET ETUD IA NTS - S E R V IC E SE ta t co m b in e de s fl ux d e trs or e ried e I exe rcic e term in le 30 juin 2005

NET IN FLOW (OU TF LO W ) OFCASH RE LA TE D TO THE

FO LL OW IN G ACTIV ITIES:

2 00 5 20 04

O PE RA TIN GE x ce ss (d ef icie n cy ) ofrev e nu e over ex pen ses

Ite m s no t a ffec tin g ca sh(Inc om e) lo ss of C U T S (no te 5)C han ges in due from CU TSL eg a l s e ttl em entAmo rti zati on of ca pit al as s et s

1, 26 5 ,8 0 32 3 1 ,49 8

4 8, 45 7

RE NT RE ES (S OR TI E S)

NETTES DE TRE SO RE RIE LIEESAUX AC TIVITES SU IV AN TE S :

(49,3 48 )44 3,0 2 3

2 ,93 5 ,8 6 559 ,14 8

EXPLO ITA TIONE xc de n t ( ins u ff is an c e) d es

$ (1,8 18 ,327 ) $ 4 00 .24 2 reve nus sur le s d pe nse sE le m en ts nay ant p as d inci den ce su r Ia trs ore rie(B en efi c e) p er te d e CUT S (no te 5)V ar ia tio n du m on tan t 4 re c ev o ir de CU TSRe g le m en t ju d ic iair eA m o rt isse m en t de s im m obi lisa tion s co rpo re ll e s

1 ,5 70 ,36 1 1 ,9 4 6 ,0 00

Ch an ge s in non -ca sh oper a tin g V aria ti on d es l me nts hor s trs o rer ie d u fond sw o rk in g ca p ita l i tem s (561 ,89 2) 16 7,3 8 9 de ro u le m ent d e xp loi ta ti on

1 ,00 8 ,4 6 9 2 ,1 1 3, 3 89

IN VE ST ING IN VE ST ISS EM EN TInc rea s e in in ves tme nts in A ug m en tat ion d e s pl ace me n tsCU TS (no te 5) (44 1,0 00) (87 5,0 00) d an s CU TS ( no te 5)

A dd itio ns to ca pita l as s ets (1 9,3 60) ( 35,9 16 ) A cqui sitio ns d im m ob il is at io n s co rp o re ll es

(4 60, 360 ) (91 0 ,9 16)

FINANCING FIN A N C EM EN TInc rea se in sh o rt -ter m inve s tm ent s (745 ,91 5) (52 7 ,2 11) Au gm ent a tio n d e s p lac em ent s cour t te rm e

NET C A SH (O UTFLOW ) INFLOW (19 7,8 06) 6 75, 26 2 ( SO RT IES ) REN TR EE S NET TE S DE TRE SO RE RIE

CASH PO S IT IO N , BEG INNING OF YEAR 878, 706 2 03 ,44 4 POS IT IO N DE TRE SO RE RIE AU DEBUT

CA SH PO SIT IO N , END OF YEAR $ 6 80 ,9 0 0 $ 8 78 ,7 0 6 POSITI O N DE TRE SOR ER IE A LA FIN

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CANADIAN FEDERATION OF STUDENTS ANDCANADIAN FEDERATION OFSTUDENTS - SERVICESNotes to the Combined Financial Statementsyear ended June 30, 2005

FEDERATION CANADIENNE DES ETUDIANTESET ETUDIANTS ET FEDERATION CANADIENNEDES ETUDIANTES ET ETUDIANTS - SERVICESNotes complmentairesde Iexercice termin le 30 juin 2005

5. INVESTMENT IN CANADIAN UNIVERSITIESTRAVEL SERVICE LIMITED (continued)

Financial position

________

2005

5. PLACEMENT DANS e CANADIAN UNIVERSITIESTRAVEL SERVICE LIMITED (suite)

2004 Situation financiOre

Total assets $ 25,762,006 $ 29.350527 Total de factif

Total liabilities $ 14,513,986 $ 18.552.771 Total du passif

Total revenues $ 30,755,101

2004 Rsultats dexploitation

$ 31,092,978 Total des revenus

Total expenses 30,705,753 32,358,781 Total des depenses

Income (loss) $ 49.348 $ (1,265,803) Bnfice (perte)

Cash flows 2005 2004 Flux de trsorerie

Cash used in operations $ (3,645,586) $ (4.846,926) Flux de trsorerie lies aux activitsdexploitation

Cash from financing activities

Cash used in investing activities

441,000

(916,814)

75,000 Flux de trsorerie lies aux activits definancement

(865,299) Flux de trsorerie lies aux activitsdinvestissement

Decrease in cash S (4.121.400) $ (5.637.225 Diminution de Ia trsorerie

2004Net BookValue

Valeurnette

LandBuildingFurniture and equipment

$ 16,898 $88,390

534,479

S 16,898 Terrain37.942 Immeuble

102.919 Mobilier et materiel

Shareholders equity 11,086,941

Cumulative translation gain 161,079

$ 25,762,006 $ 29,350,527

Results of operations 2005

10,596,593 Capitaux propres

201,163 Gain cumulatif de change

6. CAPITAL ASSETS 6. IMMOBILISATIONS CORPORELLES

2005Accumulated Net Book

Cost Amortization Value

Amortissement ValeurCoOt cumul nette

- $ 16,89852,345 36,045

469,451 65,028

$ 639,767 $ 521,796 $ 117,971 S 157,759

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CANADIAN FEDERATION OF STUDENTS ANDCANADIAN FEDERATION OFSTUDENTS - SERVICESNotes to the Combined Financial Statementsyear ended June 30, 2005

FEDERATION CANADIENNE DES ETUDIANTESET ETUDIANTS ET FEDERATION CANADIENNEDES ETUDIANTES ET ETUDIANTS - SERVICESNotes complmentairesde lexercicetermin le 30 juin 2005

9. DESIGNATED FUNDS (continued>

Legal Defence Fund

In 2000. the Federation established a fund to stabilizelegal spending from year to year related to various actions.

Membership Drives and Referenda Fund

In 2000, the Federation established a fund to pay outamounts to the member associations relating to thegeneral meeting travel pool system employed prior to1997.

General Meeting Disabled Access Fund

In 2002, the Federation established a fund to providesupport to students with disabilities the requirementsneeded to participate in general meetings.

Federal Election Campaign Fund

In 2005, the Federation established a fund to stabilizespending from year to year on activities related to thefederal election,

9. FONDS RESTREINTS (suite>

Fonds de defense juridique

En 2000, Ia Fdration a tabli un fonds pour regulariserles dpenses lies aux actions en justice dune anne aiautre.

Fends pour le recrutement et les referendums

En 2000, Ia Fdration a etabli un fonds pour rembourseraux associations membres les montants se rapportant ausystme de dplacement en commun pour lassemblegnrale utilis avant 1997,

Fonds pour laccs des personnes handicapes a

lassemble generate

En 2002, Ia Fdration a tabli un fends pour soutenir lestudiants handicaps, exigences requises pour participera Iassemble gnerale.

Fends pour Ia campagne lectorale fdrale

En 2005, Ia Fdration a tabli un fonds pour regulariserles depenses engages dune anne a lautre a Iegarddactivits relat ives llection fdrale.

Solde auDesignated Funds debut

Bilingualism Fund $ 19,670 $

Capital FundConstitutionalChallenge Fund

Federal ElectionCampaign Fund

General MeetingDisabledAccess Fund

Kevin ColemanStudent RightsDefence Fund

Legal Defence FundMembership Drivesand ReferendaFund

Transfertprovenantde fends

non restreints DcaissementsSoldea Ia fin Fends restreints

$ 19,670 Fends du bilinguismeFonds dinvestissement

1,050,000 en capitalFends pour dfis sur

15,000 Ia constitutionFends pour Ia campagne

25,000 lectorale fdraleFends pour laccsdes personnes

50,000 handicapes alassemble genrale

Fends Kelvin Coleman surIa defense des droits des

17,885 tudiants525,313 Fends de defense juridique

Fonds pour le recrutemente t les rfrendums

Transfer fromOpening Non-Designated Endingbalance Funds Disbursements Balance

$

900,000 150,000

15,000 -

- 25,000

45,000 5,000

16,412 5,000 3,527675,000 100,000 249,687

55,000 10,000 - 65,000

$1,726,082 $ 295,000 $ 253,214 $1,767,868

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CANADIAN FEDERATION OF STUDENTS ANDCANADIAN FEDERATION OFSTUDENTS - SERVICESNotes to the Combined Financial Statementsyear ended June 30 , 2005

FEDERATION CANADIENNE DES ETUDIANTESET ETUDIANTS ET FEDERATION CANADIENNEDES ETUDIANTES ET ETUDIANTS - SERVICESNotes complmentairesde lexercice termin le 30 juin 2005

10. FINANCIAL INSTRUMENTS 10 . INSTRUMENTSFINANCIERS

The carrying amounts for accounts receivable andaccounts payable and accrued liabilities and programdeposits approximate fair marke t value due to therelatively short-term to maturity of these instruments.

The fair value of the amounts due from/to CUTS have notbeen determined.

11. LEASE COMMITMENTS

The Federation leases facilities under a lease agreement.Future minimum lease payments under the agreement areas follows:

La valeur comptable des dbiteurs. des crditeurs et descharges a payer et des depots a regard du programme ser approche de a juste valeur de march en raison delchance relativement courte de ces instruments.

La juste valeur des montants dus par CUTS ou a recevoirde CUTS na pas t tablie.

11. ENGAGEMENTS EN MATIERE DE LOCATION

La Fdration loue ses locaux en vertu dun contrat delocation-exploitation. Les versements minimaux futursdans le cadre de ce contrat sont les suivants

2006200720082009

$ 149,121153,909153,90925,652

$ 482,591

12 . COMPARATIVE FIGURES 12 . CHIFFRES CORRESPONDANTS

Certain of the comparative figures have been reclassifiedto conform to the current years presentation.

Certains chiffres correspondants lexercice precedent ontt reclasss afin que leur presentation soit conforme acelle de lexercice considr.

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combined financial statements of etats financiers combines

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