Sept 06 fs.xls

Green Party of Canada
10-23-06
Accrual Basis
Profit & Loss YTD Comparison
September 2006
Jan - Sep 06
4-0500 · Federal Government
4-1000 · Contributions
4-2000 · Monthly Contributions
4-3000 · Transfers In
4-8000 · Other Income
Total Income
Cost of Goods Sold
5-5500 · Transfers Out
Total COGS
Gross Profit
6-1000 · Advertising
6-1300 · Interest & Service Charges
6-1400 · Equipment Lease
6-1600 · Courier
6-1700 · Postage & Delivery
6-2000 · Office Supplies
6-2100 · Printing and Reproduction
6-3000 · Translation
6-4000 · Insurance
6-5000 · Professional Fees
6-6000 · Salaries & Wages
6-6800 · Payroll Exp - Employer EI & CPP
6-7000 · Telephone
6-7500 · IT Expenses
6-7600 · Rent
6-7700 · Travel & Accommodation
6-7850 · Facility Rental
6-7900 · Misc Expenses
6-9010 · Professional Develoment
6-9050 · Dues & Subscriptions
6-9200 · Election Expense
Total Expense
-118,055
Page 1 of 8
Green Party of Canada
10-23-06
Accrual Basis
Balance Sheet
As of September 30, 2006
Sep 30, 06
Current Assets
Chequing/Savings
1-1000 · TD Business Account
1-1100 · Caisse Populaire
1-1400 · Van City
1-1550 · Bank Account of Units
Total Chequing/Savings
Accounts Receivable
1-2000 · Accounts Receivable
Total Accounts Receivable
Other Current Assets
1-1250 · Candidate Deposits
1-3000 · Prepaid Expenses
1-4000 · Loans
Total Other Current Assets
Total Current Assets
Fixed Assets
1-2100 · Computers
1-2300 · Furniture and Fixtures
Total Fixed Assets
Other Assets
1-1900 · Goods for Greens
Total Other Assets
TOTAL ASSETS
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
2-1000 · Accounts Payable
Total Accounts Payable
Other Current Liabilities
2-2200 · Accrued Liabilities
2-2300 · Payroll Liabilities
Total Other Current Liabilities
Total Current Liabilities
Long Term Liabilities
2-3000 · Loans to Party
Total Long Term Liabilities
Total Liabilities
3-1000 · Retained Contributions
3-3900 · Retained Earnings
Net Income
Total Equity
TOTAL LIABILITIES & EQUITY
Page 2 of 8
Green Party of Canada
10-23-06
Statement of Cash Flows
January through September 2006
Jan - Sep 06
OPERATING ACTIVITIES
Net Income
Adjustments to reconcile Net Income
to net cash provided by operations:
1-2000 · Accounts Receivable
1-2000 · Accounts Receivable:1-2020 · Goods for Greens Receivables
1-2000 · Accounts Receivable:1-2050 · Federal Government Receivable
1-2000 · Accounts Receivable:1-2080 · Candidate Deposit Loans
1-1250 · Candidate Deposits
1-3000 · Prepaid Expenses
1-4000 · Loans:1-4100 · GPC-BC Audit Loan
2-1000 · Accounts Payable
2-2100 · *Payroll Liabilities
2-2200 · Accrued Liabilities
2-2210 · Due to G4G
2-2300 · Payroll Liabilities
2200 · GST Payable
Net cash provided by Operating Activities
INVESTING ACTIVITIES
1-2100 · Computers
1-2300 · Furniture and Fixtures
Net cash provided by Investing Activities
FINANCING ACTIVITIES
2-3000 · Loans to Party:2-3200 · WCTS (W.Crookes)Candidate Loans
2-3000 · Loans to Party:2-3400 · Darla Drader
2-3000 · Loans to Party:2-3500 · Bill Wilson
2-3000 · Loans to Party:2-3700 · Walter Meyer zu Erpen
2-3000 · Loans to Party:2-3905 · Michael de Pencier
2-3000 · Loans to Party:2-3906 · Lori Gadzala
2-3000 · Loans to Party:2-3907 · Cellular Networking Perspective
2-3000 · Loans to Party:2-3908 · Adrian Visentin
2-3000 · Loans to Party:2-3909 · Peter Marks
2-3000 · Loans to Party:2-3920 · David Kay
2-3000 · Loans to Party:2-3930 · Ted & Linda Mosquin
2-3000 · Loans to Party:2-3940 · Shayne Robinson
2-3000 · Loans to Party:2-3950 · GPC Beaches East York EDA
Net cash provided by Financing Activities
Net cash increase for period
Cash at beginning of period
Cash at end of period
Page 3 of 8
YTD Budget
YTD Actual
Variance
Total Income
1,620,164
1,938,021
Cost of Goods Sold
Gross Income
1,461,731
1,669,958
Expenses
Service Charges (bank, interest & telepay) Total Expenses
1,507,390
1,532,948
Net Income (Loss)
Page 4 of 8
GPC Financial Statement Report for the period ending September 30, 2006
Revenue & Cost of Goods Sold:
Revenue from contributions has decreased in September, down almost 70% from July and August.
Transfers out are comprised of Leadership Campaign directed contibutions.
Expenses:
Office Supplies
There was an increase in spending during September due to the office move. Expenses captured in this account include:
Office set up - wiring etc
Furniture set up fee (cubicle set up)
Printing & Reproduction
The expense reflected in this account can be attributed to the convention. The fees are for the printing of both English and French booklets.
Salaries
There were a few hires that took effect in September causing this account to increase. Additional salaries starting in Sept include:
Debra Eindiguer
David Chernushenko
Salary costs will continue to be higher through October due to the severence package paid out.
Travel & Accommodation
The breakdown of the major spending areas is as follows:
Organizing Team = $4,600 (41%)
Message Team = $1,658 (15%)
Governance, Leader = $1,381(12%)
Governance, Convention = $2,889 (26%)
The organizing team expenses are somewhat misleading as they are expense that go back as far as July. This does highlight the need toget a formal expense policy in place that would outline when expenses are due and help ensure that not only is the office aware of it's expense obligationsbut it would also help the ease the financial burden carried by the Organizers.
Balance Sheet
Accounts Receivable
The AR account balance is the Federal Govt Funding amount of $311K less the RS accruals that have not yet been paid out due to
non compliant EDAs.
Fixed Assets
This account has increased due to office move - a new telephone system was purchased and has been expensed to the balance sheet in
order to capitalize the expense over a longer period of time - the cost of the system is approx $16K.
Loans to Party
The loans to party account has two types of loans combined into one total:
$332,500 in election loans
$100,000 loan to W.Crookes for candidate deposits - scheduled for repayment in Oct/06
There is also a an additional $54,805.50 showing in this account due to cheques being voided due to non receipt.
Payments issued (July/06) to D.Drader and R.Ball were cancelled as the cheques were not received - these cheques have been re-issued in October.
These payments were for loans received in 2004 (final repayment installment) and in 2005 (first istallment for the 39th election loan).
YTD Budget Comparison
Revenue
The allocation between budget and actual is the main reason for the large variances - looking overall gives the better picture that we are 20% above expected revenue.
The budgeted 'Other Income' account of $91K was projected Convention revenue - this amount is in the Contribution account
and more detail is available in the convention report
Cost of Good Sold
The RS portion of the account is $161,546 which is inline with the budgeted amount. The budget only considered RS but this account also
includes directed contributions and leadership campaign transfers.
Expenses
There are some large variance in individual accounts, however looking at total expenses we are only 2% above budget which is very good.
Some of the variances can be accounted for by account allocation differing from budget (as is the case with Outsource Providers and Professional Fees)
and others are due to unexpected expenses such as the insurance policy taken out this year.
The Travel & Accommodation account is a combination of the Travel and Facility Rental account and is over budget due to the convention.
Page 5 of 8
Green Party of Canada
Quarterly Budget to Actual Comparison
Q1 Budget
Q1 Actual
Variance
Q2 Budget
Q2 Actual
Variance
Q3 Budget
Q3 Actual
Variance
Total Income
Cost Of Good Sold
Total COGS
Gross Income
Expenses
Service Charges (bank, interest & telepay) Total Expenses
Net Income (Loss)
-198,357
-255,995
-104,499
Page 6 of 8
Green Party of Canada
10-23-06
Accrual Basis
Profit & Loss
August Convention
Jan 1 - Oct 23, 06
Convention Fees
6-1600 · Courier
6-1700 · Postage & Delivery
6-2000 · Office Supplies
6-2100 · Printing and Reproduction
6-3000 · Translation
6-5000 · Professional Fees
6-7000 · Telephone
6-7700 · Travel & Accommodation
6-7850 · Facility Rental
6-7900 · Misc Expenses
6-9050 · Dues & Subscriptions
6-9200 · Election Expense
Total Expense
Net Income
-127,948.63
There may be an opportunity to increase the revenue recognized for the AGM convention, this is
due to the dual role the convention served - the AGM as well as the Leadership Race. There was a percent held back from th
contributions taken for the leadership campaigns - this amount needs to be confirmed and then
as decision made as to whether it should be applied against the convention expenses.
The amount is approximately $30,000 so it won't make the bottom line much better but will alleviate some of the deficit.
There is also the consideration that the convention was used as the major marketing vehicle for the year.
The event was staged with that in mind and was by all accounts a successful (yet expensive) event.
There is an expense breakdown in the page following.
Page 7 of 8
Green Party of Canada
10-23-06
Accrual Basis
Profit & Loss
Convention Expense Detail
6-1600 · Courier
6-1700 · Postage & Delivery
Return of overs for New Member and Candidate Mailin 6-2000 · Office Supplies
Locksmith for new locks for election ballot room 6-2100 · Printing and Reproduction
7,500 48pg booklet (ballots/bre) included Total 6-2100 · Printing and Reproduction 6-3000 · Translation
6-5000 · Professional Fees
6-5020 · Accounting Fees
6-5000 · Professional Fees - Other
Election materials/layout of eng and fr election booklet Total 6-5000 · Professional Fees - Other 6-7000 · Telephone
6-7020 · Long Distance
Page 8 of 8
Green Party of Canada
10-23-06
Accrual Basis
Profit & Loss
Convention Expense Detail
6-7000 · Telephone - Other
6-7700 · Travel & Accommodation
Return bus Ottawa/Montreal (includes taxi & meals) Total 6-7700 · Travel & Accommodation 6-7850 · Facility Rental
6-7900 · Misc Expenses
6-7910 · Volunteer Recognition
Pre-Convention Ballot Processing Vol. Food 6-7900 · Misc Expenses - Other
6-9050 · Dues & Subscriptions
6-9200 · Election Expense
6-9250 · Professional Services
Page 8 of 8

Source: https://www.greenparty.ca/sites/greenparty.ca/files/attachments/GPC-Fin_Statements-Sept.pdf