This File Includes Two Financial Returns. Ce Fichier Comprend Deux Rapports
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This file includes two Ce fichier comprend deux financial returns. rapports financiers. Shannon & Buffett, [[P Chartered Accountants F HAL C. BUFFETT, B.A., C.A. GARRY L. ARMSTRONG, B.SC., C.A. CLAUDE LEGER, B.B.A., C.G.A., C.A. RON W. SAUNTRY, B.B.A., C.A. 2013 September 30, 2013 INDEPENDENT AUDITORS REPORT ENB Mr. Britt Dysart Official Representative New Brunswick Liberal Association We have audited the financial return of the New Brunswick Liberal Association for the period from January 1, 2013 to June 30, 2013. The financial return has been prepared based on the financial reporting provisions of Section 55 of the Political Process Financing Act dated June 28, 1978 the Act. Managements Responsibility for the Return Management is responsible for the preparation of the financial return in accordance with the financial reporting provisions of Section 55 of the Act, and f& such intei-nal control as management determines is necessary to enable the preparation of the financial return free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on the financial return based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial return is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial return. procedures The selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial return whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the preparation entitys of the financial return in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entitys internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial return. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified audit opinion. Basis for Qualified Opinion In common with many non-profit organizations, the New Brunswick Liberal Association derives revenue from donations public, from the the completeness of which is not susceptible to satisfactory audit verification. Accordingly, our verification of these revenues was limited to the amounts recorded in the records of the Association and we were not able to determine whether any adjustments might he necessary to the financial return. Qualified Opinion On our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph, the financial return of the New Brunswick Liberal Association for the period from January 1, 2013 to June 30, 2013 is prepared, in all material respects, in accordance with the financial reporting provisions of Section 55 of the Act. Basis of accounting and restriction on distribution and use The accounting policies of the Association are in accordance with Canadian accounting standards for not-for-profit organizations and with the guidelines issued by the Supervisor of Political Financing under section 14 of the Act. The financial return is prepared to assist the New Brunswick Liberal Association to comply with the financial reporting provisions of the Act referred to above. As a result, the financial return may not be suitable for another purpose. Our report is intended solely for the New Brunswick Liberal Association and the Supervisor of Political Financing, Elections New Brunswick and should not be distributed to or used by parties other than the New Brunswick Liberal Association or the Supervisor of Political Financing, Elections New Brunswick. 4MS4 s1tP Chartered Accountants 535 BEAVERBROOK CT., SUITE #110 FREDERICTON, N.B. E3B 1 X6 PHONE: (506) 458-9300 FAX: (506) 458-9317 ____________________________________________________________________________________________ Financial Return for Registered Political Party P 04 909 . Political Process Financing Act, R.SN.B. 1973, c. P-9.3, sections 58 and 59 “I (2013-04-01) New Brunswick Liberal Association Britt Dysart 506-453-3950 Name of registered political party Official representative Telephone number Mailing address 715 Brunswick Street, Fredericton, NB E3B 1N8 506-453-2476 Email address OCT 01 2013 Location of books and records if different from above For the reporting period from January 1, 2013 to June 30, 201 ENB SUMMARY OF FINANCIAL ACTIVITY Schedule Sources of cash Amount Amount Payments received under legislation: Annual allowance to registered political parties PPFA, s.31 $ 114,163.00 Reimbursement of auditing expenses PPFA, s.57 HST rebate to qualifying non-profit org. Excise Tax Act, s. 259 $ 114,163.00 Rebate period: Fees and Dues I Membership dues of not more than $25 $ 100.00 2 Registration fees of not more than $25 $ 3 Entrance fees to a political activity of not more than $10 $ $ 100.00 Moneta,y contributions: 4 Individuals totalling $100 or less per individual $ 11,970.00 5 Individuals totalling more than $100 per individual $ 21,174.00 6 Corporations $ 21,531.00 7 Trade Unions $ $ 54,675.00 Non-monetaiy contributions: 8 Property & Services “Donations in kind” $ Other sources of cash: 10 Investment and other income $ 15,882.00 11 Transfers from Party, District Associations, or Candidates $ 13 Advances from loans or lines-of-credit $ $ 15,882.00 Sub-total $ 184,820.00 Uses of cash 12 Transfers to District Associations and Candidates $ 2,105.00 13 Repayments of loans or lines-of-credit $ 14 Non-election expenditures $ 176,322.00 14.1 Election expenses $ 3,891.00 $ 182,318.00 Source (use) of cash from changes in working capital 15 Net change in current assets and liabilities $ (95,115.00) Cash increase (decrease) for the reporting period $ (92,613.00) 16 Cash position, beginning of reporting period $ 1,256,913.00 Cash position, end of reporting period carry to Schedule 16 $ 1,164,300.00 DECLARATION Britt Dysart , Official Representative, have prepared this financial return for the registered political party New Brunswick Liberal Association for the reporting period noted above and in accordance with the Political Process Financing Act and the Guidelines issued by the Supeivisor of Political Financing. To the best of my knowl . the information contained herein is true, complete and accurate. &rFoi- i/ci Original signed / Original signé Date Signature Page 1 P 04 909 SCHEDULE I Membership Dues of not more than $25 PPFA, paragraph 58(1)(d) Number Cost per membership Amount 20 $ 5.00 TOTAL Report on Page 1 $ 100.00 SCHEDULE 2 Registration Fees at Political Conventions of not more than $25 PPFA, paragraph 58(1)(e) Date Held Place Individual Fee Charged Amount $ $ TOTAL Report on Page 1 $ SCHEDULE 3 Entrance Fees to a Political Activity or Demonstration of not more than $10 PPFA, paragraph 58(1)(t) Date Held Place Nature of Activity Fee Charged Amount $ $ TOTAL Report on Page 1 $ SCHEDULE 4 Monetary Contributions from Individuals Totalling $100 or less per Individual PPFA, paragraph 58(1)(c) and subsection 63(2) Complete and attach Appendix B. From Appendix B, enter below the number of contributions and the total amount of contributions. Amount No. of contributions: 171 TOTAL Report on Page 1 $ 11,970.00 SCHEDULE 5 Monetary Contributions from Individuals Totalling more than $100 per individual PPFA, paragraph 58(1)(i) Name of contributor Alphabetical order by surname Address Receipt No. Amount C EVE0 See Appendix D nu $ 21,174.00 tiLl ui zuli ENB TOTAL Report on Page 1 $ 21,174.00 Page 2 P 04 909 SCHEDULE 6 Monetary Contributions from Corporations PPFA, paragraph 58(1)(h) Company name Alphabetical Order Address Receipt No. Amount See Appendix E $ 21,531.00 w , & I . \, [u LJ. OCT 0 1 2013 TOTAL Report on Page 1 $ 21,531.00 SCHEDULE 7 Monetary Contributions from Trade Unions PPFA, paragraph 580h Union name and Local No. Address Receipt No. Amount $ TOTAL Report on Page 1 $ SCHEDULE 8 Contributed Property and Services Donations in Kind PPFA, paragraph 580b NOTE: Refer to specific exemptions under subsection 20a and subsection 20g. Refer to subsection 39(3) for basis of valuation. Name and address of contributor Nature of Contribution Receipt No. Amount $ TOTAL Report on Page 1 $ SCHEDULE 9 Reconciliation of Official Receipts Count Receipts numbered From To Receipts on hand, beginning of period See Appendix F Received from Supervisor during period Receipts available, sub-total Reported on contribution schedules - Cancelled - Duplicates - Replacements - Receipts issued, sub-total - On hand, end of period - Page 3 P 04 909 __________ SCHEDULE 10 Investment and Other Income PPFA, paragraph 58(1)(n) Nature of income Amount Interest income earned on investments $ 13,848.00 Other income reamount in Bi-election and Advertising-restricted expenses $ 2,034.00 TOTAL Report on Page 1 $ 15,882.00 SCHEDULE 11 Transfers from District Associations and Candidates PPFA, paragraph 58(1)(k) and subsection 2(2) Date Received Received from Reason for transfer Amount $ u LE OCT 0 12013 TOTAL Report on Page 1 $ SCHEDULE 12 Transfers to District Associations and Candidates PPFA, paragraph 58(1)(k) and subsection 2(2)