Statement to the Financial Report by birdmandaddy


									Statement to the Financial Report:

With last year’s deficit in mind, we began this fiscal year with the goal of prudent
management to ensure that we brought in a balanced budget. As a result, HIV Edmonton
realized a surplus of which the majority will go towards establishing a three month
contingency fund. This is in accordance to the Agency’s Bylaws and Policies under
Section 3.2 of the Financial Management Policy.

The contingency funds will serve the Agency well under conditions of increased costs in
the new location’s lease (the current lease was bought out when the building was sold to a
property development company). This rainy-day fund will also allow HIV Edmonton to
manage this lease without fear of placing the agency at risk should our income not
increase sufficiently to cover the increased costs.

Jack Der

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