Consolidated Financial Statements of MUSQUEAM INDIAN BAND Year ended March 31, 2020 MUSQUEAM INDIAN BAND Index to Consolidated Financial Statements Year ended March 31, 2020 Page Management’s Responsibility for Financial Reporting 1 Independent Auditor’s Report 2-3 Consolidated Financial Statements: Consolidated Statement of Financial Position 4 Consolidated Statement of Operations 5 Consolidated Statement of Changes in Net Financial Assets 6 Consolidated Statement of Cash Flows 7 Notes to Consolidated Financial Statements 8 - 33 Tel: 604 688 5421 BDO Canada LLP Fax: 604 688 5132 600 Cathedral Place
[email protected] 925 West Georgia Street www.bdo.ca Vancouver BC V6C 3L2 Canada Independent Auditor’s Report To the Chief and Council of Musqueam Indian Band Opinion We have audited the consolidated financial statements of the Musqueam Indian Band and its controlled entities (the “Consolidated Entity”) which comprise the Consolidated Statement of Financial Position as at March 31, 2020, and the Consolidated Statements of Operations, Changes in Net Financial Assets, and Cash Flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Consolidated Entity as at March 31, 2020 and its results of operations, changes in net financial assets, and cash flows for the year then ended in accordance with Canadian public sector accounting standards. Basis for Opinion We conducted our audit in accordance with Canadian generally accepted auditing standards. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of this report.