COWICHAN VALLEY HOSPICE SOCIETY Financial Statements Year Ended ...

COWICHAN VALLEY HOSPICE SOCIETY Financial Statements

Year Ended December 31, 2017 (Unaudited)

Palmer Leslie

Chartered Professional Accountants

COWICHAN VALLEY HOSPICE SOCIETY Index to Financial Statements Year Ended December 31, 2017 (Unaudited)

REVIEW ENGAGEMENT REPORT FINANCIAL STATEMENTS

Statement of Financial Position Statement of Changes in Net Assets Statement of Revenues and Expenditures Statement of Cash Flows Notes to Financial Statements Fundraising Activities (Schedule 1)

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3 - 4 5

6 - 7 8 - 9 10 - 13 14

Palmer Leslie

Chartered Professional Accountants

REVIEW ENGAGEMENT REPORT

To the Directors of Cowichan Valley Hospice Society

We have reviewed the statement of financial position of Cowichan Valley Hospice Society as at December 31, 2017 and the statements of revenues and expenditures, changes in net assets and cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with Canadian accounting standards for not-for-profit organizations, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Practitioner's Responsibility

Our responsibility is to express a conclusion on the accompanying financial statements based on our review. We conducted our review in accordance with Canadian generally accepted standards for review engagements, which require us to comply with relevant ethical requirements.

A review of financial statements in accordance with Canadian generally accepted standards for review engagements is a limited assurance engagement. The practitioner performs procedures, primarily consisting of making inquiries of management and others within the entity, as appropriate, and applying analytical procedures, and evaluates the evidence obtained.

The procedures performed in a review are substantially less in extent than, and vary in nature from, those performed in an audit conducted in accordance with Canadian generally accepted auditing standards. Accordingly, we do not express an audit opinion on these financial statements.

(continues)

Review Engagement Report to the Directors of Cowichan Valley Hospice Society (continued)

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that these financial statements do not present fairly, in all material respects, the financial position of Cowichan Valley Hospice Society as at December 31, 2017, and the results of its operations and its cash flows for the year then ended in accordance with the Canadian accounting standards for not-for-profit organizations.

Duncan, British Columbia May 31, 2018

CHARTERED PROFESSIONAL ACCOUNTANTS

COWICHAN VALLEY HOSPICE SOCIETY Statement of Financial Position December 31, 2017 (Unaudited)

Operating Fund 2017

Capital Fund 2017

Externally Restricted Hospice House

Fund 2017

Total 2017

Total 2016

ASSETS CURRENT

Cash Cash - internally restricted Term deposits (Note 5) Accounts receivable Goods and services tax recoverable Prepaid expenses (Note 4) Due from related parties

PROPERTY, PLANT AND EQUIPMENT (Net of accumulated amortization) (Note 6)

$ 101,148 $ 34,530 2,354 2,322 32,685

173,039

-

$ 332,787 $ 433,935 $ 407,951

-

-

34,530

-

-

305,570

305,570

5,307

-

-

-

447

-

301

2,655

1,167

-

-

2,322

2,322

-

-

32,685

104

-

638,658

811,697

417,298

-

222,614

-

222,614

228,099

$ 173,039 $ 222,614 $ 638,658 $ 1,034,311 $ 645,397

The accompanying notes form an integral part of these financial statements -3-

Palmer Leslie

Chartered Professional Accountants

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