État financier de la Fédération étudiante de l'Université d'Ottawa (FÉUO) 2011 - Student...

8/2/2019 tat financier de la Fdration tudiante de l'Universit d'Ottawa (FUO) 2011 - Student Federation of the Universit

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~tats financiers de /aFinancial Statements of theFEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC.STUDENT FEDERATION OFTHE UNIVERSITY OF OTTAWA INC.30 avril 2011April 30, 2011


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Deloitte

Rapport de I'auditeur lndepandantAux membresde laFederationstudlantedel'Universited'Ottawa Inc.Rapport sur les etats financiersNous avons effectue I'audit des stats financiers ci-joints de laFederation etudiante de l'Universite d'Ottawa Inc. (Ia"Federation), qui comprennent Ie bilan au 30avril 2011 et lesetats des revenuset des depenses, de I'evolutionde I'actif netet des flux de tresorerie de I'exercice clos a cette date, ainsiqu'un resumedes principalesmethodes cornptables et d'autresinformationsexplicatives.Responsabil ite de fa direction pour les Mats financiersLa direction est responsable de la preparation et de lapresentation fidele de ces etats financiers conformement auxprincipes comptables gemeralement reconnus du Canada,ainsi que du controls interne qu'elle conside r e commenecessaire pour permettre la preparation d'etats financiersexempts d'anomalies significatives, que celles-cl resultent defraudes ou d'erreurs.Responsabilite de /'auditeurNotre responsabllite consiste a exprimer una opinion sur lesetats financiers, sur la base de notre audit. Nous avonseffectue notre audit selon les normes d'audit gemeralementreconnues du Canada. Ces normes raqulerent que nousnous conformions aux regles de deontoloqie et que nousplanifiions et realisions I'audit de facon a obtenir I'assuranceraisonnable que les etats financiers ne comportent pasd'anomalies significatives.

Membre de I Member of Deloilte Touche Tohmatsu Limited

Deloitte & Touche, s.r.l,800 - 100, rueQueenOttawa, ON K1P 5TBCanadaTel: (613) 236-2442Fax: (613) 236-2195www.deloitte.ca

Independent Auditor's ReportTothe Membersof theStudent Federationof theUniversityof Ottawa Inc.Report on the Financial StatementsWe have audited the accompanyingfinancial statements of thStudent Federation of the University of Ottawa Inc. (th"Federation"), which comprise the balance sheet asApril 30, 2011 and the statements of revenue and expensechanges in net assets and of cash flows for the year theended, and a summary of significant accounting policies another explanatory information.Management's Responsibil ity for the Financial StatementsManagement is responsible for the preparation and fapresentation of these financial statements in accordance wCanadian generally accepted accounting principles, and fsuch internal control as management determines is necessato enable the preparation of financial statements that are frfrom materialmisstatement,whether due to fraud or error.

Auditor's ResponsibilityOur responsibil ity is to express an opinion on these finanstatements based on our audit. We conducted our audiaccordance with Canadian generally accepted audistandards. Those standards require that we comply wethical requirements and plan and perform the audit to obreasonable assurance about whether the financial statemeare free from material misstatement.

.
http://www.deloitte.ca/http://www.deloitte.ca/


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Rapport de I'auditeur lndependant (suite)ResponsabiJite de f'auditeur (suite)Un audit impJiquela mise en csuvrede procedures en vue derecueillir des elements probants concernant les montants etles informations fournis dans les etats financiers. Le choixdes procedures releve du jugement de I'auditeur, etnotamment de 'son evaluation des risques que les etatsfinanciers comportent des anomalies significatives, quecelles-ci resultent de fraudes ou d'erreurs. Dans l'evaluationde ces risques, I'auditeur prend en consideration Ie controlsinterne de l'entlte portant sur la preparation et la presentationfldele des etats financiers afin de concevoir des proceduresd'audit appropriees aux circonstances, et non dans Ie butd'exprirner une opinion sur l'efficacite du controle interne del'entite, Un audit comporte egalement l'appreciation ducaractare approprie desmethodes comptables retenues et ducaractere raisonnable des estimations cornptables faites parla direction, de msrne que l'appreciation de la presentationd'ensemble des etats financiers.Nous estimons que les elements probants que nous avonsobtenus sont suffisants et appropries pour fonder notreopinion d'auditOpinionA notre avis, les etats financiers donnent, dans tous leursaspects significatifs, une image fidele de la situationfinanciere de la Federation au 30 avril 2011, ainsi que de sesresultats d'exploitation et de ses flux de tresorerie pourI'exerdce clos a cette date, conforrnement aux principescomptables generalement reconnus du Canada.Rapport relatif if d'autres exigences legales etnfJgiementairesSelon les exigences de la Loi sur les corporations (Ontario),nous declaronsqu'a notre avis, C8S principesont lteappliquesde la rnemernanierequ'aucours de I'exerciceprecedent.

Independent Auditor's Report (continued)Auditor's Responsibifity (continued)An audit involves performing procedures to obtain audevidence about the amounts and disclosures in the financiastatements. The procedures selected depend on thauditor's judgement, including the assessment of the risks omaterial misstatement of the financial statements, whethedue to fraud or error. In makingthose risk assessments, thauditor considers internal control relevant to the ent itypreparation and fair presentation of the financial statemenin order to design audit procedures that are appropriate in thcircumstances, but not for the purpose of expressing aopinion on the effectiveness of the entity's internal controAn audit also includes evaluating the appropriateness oaccounting policies used and the reasonableness oaccounting estimates made by management, as well aevaluating the overall presentation of the financistatements.

We believe that the audit evidence we have obtainedsufficient and appropriate to provide a basis for our audopinion.OpinionIn our opinion, the financial statements present fairly, in amaterial respects, the financial position of the Federation asApril 30, 2011 and the results of its operat ions and its casf lows for the year then ended in accordance with Canadiagenerally acceptedaccountingprinciples.

Report on Other Legal and Regulatory Requirements

As required by the CorporationsAct (Ontario), we report thain our opinion, these principles have been applied on a basconsistent with that of the precedingyear.

ComptablesagreesExperts-comptablesautorisesLe 13novembre 2011

Chartered AccountantsLicensed PublicAccountantsNovember 13,2011


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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC.Etats f inanc iers30 avril 2011

Bilan

~tat des revenus et des depenses

Etat de l'evolution de I'actif net

Etat des flux de tresorerie

Notes cornplernentaires

Annexes - Renseignements complementaires

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STUDENT FEDERATION OF THEUNIVERSITY OF OnAWA INC.Financ ia l Sta tementsApril 30, 2011

Balance Sheet

2 Statement of Revenue and Expenses

3 Statement of Changes in Net Assets

4 Statement of Cash Flows

Notes to the Financial Statements

Schedules - Supplementary Information


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FEDERATION ETUDIANTE DE STUDENT FEDERATION OF THEL'UNIVERSITE O'OTTAWA INC, UNIVERSITY OF onAWA INC,Bilan Balance Sheetau 30 avril 2011 as at April 30, 2011

2011 2010

ACTIF A COURT TERME CURRENT ASSETS

Encaisse 3,406,630 $ 3,021,869 $ CashDebiteurs 857,105 .606,627 Accounts receivableStocks (note 5) 478,075 488,025 Inventor ies (note 5)Frais payes d'avancs 26,861 33,989 Prepaid expenses

4,768,671 4,150,510

IMMOBILISATIONS CORPORELLES (note 6) 256,050 352,272 CAPITAL ASSETS (note 6)FRAIS PAYES D'AVANCE A LONG TERME 300,363 LONG-TERM PREPAID EXPENSES5,325,084 $ 4,502,782 $

PASSIF A COURT TERME CURRENT LIABILITIES

Crediteurs et Accounts payable andcharges a payer 1,126,581 $ 875,308 $ accrued liabilitiesDOaux organisations studlantes 148,783. 74,043 Due to student organizationsRevenus reportss (note 7) 1,344,171 1,322,529 Deferred revenue (note 7)

2,619,535 2,271,880

ACTIF NET NET ASSETS

Investi en Immobilisatlons corporelles 256,050 352,272 Invested in capital assetsAffectat ion d'or igine interne - Fonds de sante 1,188,010 997,162 Internally restricted - Health FundNon affecte 1,261,489 881,468 Unrestricted

2,705,549 2,230,902

5,325,084 $ 4,502,782 $

ENGAGEMENTS CONTRACTUELS ET COMMITMENTS AND CONTINGENTPASSIFS EVENTUELS (notes 11 et 12) LIABILITIES (notes 11 and 12)

AU NOM DE L'ASSEMBLEE ETUDIANTE APPROVED BY THE STUDENT ASSEMBLY

President President

Vice-presidenta aux finances Vice-President, Finance


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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC.Etat des revenus et des depensesde I'exercice clos Ie 30avril 2011

STUDENT FEDERATION OF THEUNIVERSITY OF OTTAWA INC.Statement of Revenue and Expensesyear ended April 30, 2011

2011 2010

AFFAIRES ETUDIANTES STUDENT AFFAIRS

Cotisations etudiantes 5100233 $ 4790032 $ Student feesDepenses d'explcltation (annexe 11) (3724534) (3581 890) Operating expenses (schedule II)Revenue - UPASS 7371 803 U-PASS revenueServices aux etudiantte)s (annexe II) (7714016) (261923) Student services (schedule II)Autres revenus (42670) 5421 Other revenue

Affaires etudiantes - excedent des revenus Student affairs - excess of revenuesur les depenses avant les operations des over expenses before media operationsmedias et depenses administratlves 990816 951 640 and administrative expenses

Depenses administratives (annexe II) (724931) (662913) Administrative expenses (schedule II)

Affaires etudiantes - excedent Student affairs - excess of revenuedes revenus sur les depenses 265885 288727 over expenses

ENTREPRISES COMMERCIALES (annexe I) COMMERCIAL BUSINESSES (schedule I)

Ventes 4211251 5422464 SalesCoOt des marchandises vendues (3151684) (4377 745) Cost of sales

Marge brute 1 059567 1 044719 Gross profit

Autres revenus 589993 560864 Other incomeDepenses d'entreprises (1440798) (1576 005) Business expenses

Entreprises commerciales - excedent Commercial businesses - excessdes revenus sur les depenses 208762 29578 of revenue over expenses

EXC~DENT DES REVENUS EXCESS OF REVENUESUR LES DEPENSES 474647 $ 318305 $ OVER EXPENSES

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FEDERATION ETUDIANTE DE STUDENT FEDERATION OF THEL'UNIVERSITE O'OTTAWA INC. UNIVERSITY OF OTTAWA INC.Etat de I'evolution de I'actlf net Statement of Changes In Net Assetsde l'exerclce clos Ie 30 avril 2011 year ended April 30, 2011

Investi en Affectationirnrnobi lisations d'origine Interne -

corporelies Fonds de sante Non affecte Total

InternallyInvested in Restr icted -

Capital Assets Health Fund Unrestricted 2011 2010

SOLDE AU DEBUT DE L'EXERCICE 352272 $ 997162 $ BB1468 $ 2230902 $ 1 912597 $ BALANCE, BEGINNING OF YEARExceclent des revenus sur Excess of revenueles dspenses 474647 474647 318305 over expenses

Amortlssement des immobllisationscorporelles (172588) 172588 Arnortlzatlon of capital assets

Acquisitions Acquisi tions ofd'immobilisations corporelles 76366 (76366) capital assets

Transfert au Fonds de sante Transfer to the Health Fund(note 3) 190848 (190848) (note 3)

SOLDE A LA FIN DE LEXERCICE 256050 $ 1188010 $ 1261 48e $ 2705549 $ 2230902 $ BALANCE, END OF YEAR

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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC.Etat des flux de tresorerlede I'exereiee elos Ie 30 avril 2011

STUDENT FEDERATION OF THEUNIVERSITY OF OTTAWA INC.Statement of Cash Flowsyear ended April 30, 2011

2011 2010RENTREES (SORTIES) NETTES NET INFLOW (OUTFLOW)D'ENCAISSE LlEES AUX OF CASH RELATED TOACTIVITES SUIVANTES: THE FOLLOWING ACTIVITIES:

EXPLOITATION OPERATINGExcMent des revenus sur les Excess of revenue overdepenses 474647 $ 318305 $ expenses

Element sans incidence sur I'encaisse Item not affecting cashAmortissement des immobilisations Amortization of capitalcorporelles 172588 178868 assets

647235 497173

Variation des elements hors calsse du Changes in non-cashfonds de roulement d'exploitatlon (186 108) 91110 operating working capital i tems

461127 588283

INVEST1SSEMENT INVESTINGAcquisitions d'immobilisations corporelles (76366) (79925) Acquisit ions of capital assets

AUGMENTATION NETTE DE L'ENCAISSE 384761 508358 NET CASH INFLOW

ENCAISSE AU DEBUT 3021 869 2513511 CASH, BEGINNING OF YEAR

ENCAISSE A LA FIN 3406630 $ 3021869 $ CASH, END OF YEAR

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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC,Notes complemsntairesde I'exercice clos Ie 30 avril 20111, STATUT ET NATURE DES ACTIVITES

La Federation etudiants de l'Univeraite d'Ottawa Inc. (Ia"Federation"), constltuee sans capital-act ions en vertu dela Loi sur les personnes morales de l'Ontario, exploitedes entreprises commerciales et administre lescotisations qui lui sont versses pour Ie benefice desetudiant(e)s de l'Universite d'Ottawa.La Federat ion est consfituee en societe sans but lucratif etest par consequent exempte d'impot,

2. PRINCIPALES CONVENTIONS COMPTABLESLes etats financiers ont eta prepares selon les principescomptables generalement reconnus du (PCGR) Canadapour les organismes sans but lucratif et comprennent lesprincipales conventions suivantes :

Modifications comptables futuresEn 2010, I'lnstitut Canadien des Comptables Agrees(ICCA) a publie un nouveau referential comptableapplicable aux organismes sans but lucratif. Ainsi, pourles exercices ouverts a compter du 1er janvier 2012, lesorganismes sans but lucratif pourront choisir d'adoptersoit les Normes internat ionales d'information financlere(IFRS) ou PCGR pour organismes sans but lucratif. AI'heure actuelle, la Federation prevolt utiliser les PCGRpour organismes sans but lucratif a compter du1er mai 2012.Ventilation des depensesLa Federation ventile les frais generaux administratifsentre ses programmes. Les coOts indirects secomposent principalement de salaires et chargessociales ainsi que de publicite, Pour I'exercice clos Ie30 avril 2011, 30 % (2010 - 30 %) des depenses sontvantiles a parts egales, et 70 % (2010 - 70 %) desdepenses sont ventiles en fonction des revenus. Cecis'applique a toutes les composantes et entreprises aI'except ion des fonds de reserve et Ie UPASS.Instruments financiersTaus les actifs financiers doivent etre classes soitcomme detenus a des fins de transaction, dstenusjusqu'a leur scheance, prets et creances au disponiblesa la vente. Taus les passlfs financiers doivent etreclasses soit comme detenus a des fins de transaction ouautres passifs.

STUDENT FEDERATION OF THEUNIVERSITY OF OTTAWA INC,Notes to the Financial Statementsyear ended April 30, 2011

1. GOVERNING STATUTE AND NATURE OFOPERATIONSThe Student Federation of the University of Ottawa I(the "Federation"), incorporated without share capiunder the Corporations Act of Ontario, operatcommercial businesses and manages the fees receivfor the benefit of the students of the University of Ottaw

The Federation is a not-for-profit organizat ion and as suis exempt from income tax.

2. SIGNIFICANT ACCOUNTING POLICIESThe financial statements have been preparedaccordance with Canadian generally acceptaccounting principles (GAAP) for not-far-proorganizations and include the following significaaccounting policies:Future changes in accounting policiesIn 2010, the Canadian Institute of Chartered Accountan(CICA) issued a new accounting framework applicableCanadian not-for-profit organizations. Effective for fisyears beginning on or after January 1, 2012, not-far-prorganizations may adopt either International FinanReporting Standards or GAAP for not-far-prorganizations. The Federation currently plans to adGAAP for not-for-profit organizations effecMay 1, 2012.

Allocation ofexpensesThe Federation allocates the cost of administratioverhead between its programs. Administratiooverhead is primarily composed of salaries and beneas well as advertising expenses. For the year endApril 30, 2011, 30% (2010 - 30%) of allocated expenswere evenly distributed and 70% (2010 - 70%)allocated expenses were based on revenue. Tapplied to all levied components and businesses withexception of Reserve Funds and U-PASS.Financial instrumentsAll financial assets are required to be classified as eiheld-for-trading, held-to-maturity investments, loansreceivables, or available-far-sale. All financial llablllare required to be classified as held-for-trading or oliabilities.

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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC.Notes complernentalresde I'exercice clos Ie 30 avril 20112. PRINCIPALES CONVENTIONS COMPTABLES(suite)

Instruments financiers (suite)Le classement des instruments financiers depend deI'objet vise lorsque les instruments financiers ont eteacquis ou ernls, de leurs caractsristlques et de leurdesignation par la Federation au moment de leurcomptabilisation initiale. La comptablllsatlon a la date dereglement est ufillsee et les coOtsde transactions relatifsaux placements sont passes en charge lorsqu'ils sontencourus.Classement :

Detenus a des fins de transactionPrets et creancssEncaisseDebiteursCrediteurset charges a payerDOauxorganisations etudiantes Autres passifsAutres passlfsDetenus a des fins de transactionCes actits financiers sont cornptablllses a la juste valeura la date du bilan. Les fluctuations de la juste valeur quiincluent les interets gagnes, les lnterets courus, les gainset les pertes realises sur cession et les gains et pertesnon realises sont indus dans les autres revenus.Prets et creancesCes actifs financiers sont cornptablfses au cout amortiselon la methode du taux d'lnteret effectif, mains toutedevaluation.Les comptes a recevoir et prets aupres d'apparentes sontcornptablllsesa la valeur d'echanqe.Autres passifsLes passifs financiers sont comptabilises au coOtamortiselon la methode du taux d'interet effectit.Les autres passifs envers les apparentes sontcornptabillsesa la valeur d'echanpe,Constatation des revenusLa Federation applique la methode du report pourcomptabiliser les contributions.

STUDENT FEDERATION OF THEUNIVERSITY OF OTTAWA INC.Notes to the Financial Statementsyear ended April 30,2011

2. SIGNIFICANT ACCOUNTING POLICIES (continued)

Financial instruments (continued)The classification depends on the purpose for which tfinancial instruments were acquired or issued, thcharacteristics and the Federation's designation of sinstruments, at the time of initial recognition. Settlemdate accounting is used and transaction costs relatedinvestments are expensed as incurred.

Classification:CashAccounts receivableAccounts payable andaccrued liabilitiesDue to student organizations

Held-far-tradLoans and receivabOther liabilitOther liabilit

Held-far-tradingThese financial assets are measured at fair value atbalance sheet date. Fair value fluctuations includinterest earned, interest accrued, gains and losrealized on disposal and unrealized gains and losses aincluded in other revenue.Loans and receivablesThese financial assets are measured at amortized cusing the effective interest method, less any impairme

Related party receivables and loans are recordedexchange amounts.Other liabilitiesThese financial liabilities are recorded at amortized cusing the effective interest method.Other liabilities to related parties are recorded atexchange amounts.Revenue recognitionThe Federation follows the deferral method of accounfor contributions.

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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC.Notes complementalresde I'exercice clos Ie 30 avril 2011

STUDENT FEDERATION OF THEUNIVERSITY OF OTTAWA INC.Notes to the Financial Statementsyear ended April 30, 2011

2. PRINCIPALES CONVENTIONS COMPTABLES(suite) 2. SIGNIFICANT ACCOUNTING POLICIES (continued)

Constatation des revenus (suite) Revenue recognition (continued)Les revenus recus par la Federation en guise de produitsou services ne sont reconnus qu'une fois les produits ouservices rend us.

Revenues received by the Federation for provisiongoods or services are recognized when goodsservices are provided.Les contributions non affectees sont reconnues a titre derevenus lorsque recues ou a recevoir si Ie montant arecevoir peut fa i re I 'objet d'une est imation raisonnable etsi I 'encaissement est raisonnablement assure.

Unrestricted contributions are recognized as revenwhen received or receivable if amounts canreasonably estimated and collection is reasonabassured.Stocks InventoriesLes stocks sont evalues au moindre du coOt et de lavaleur netie de realisation, Ie cout otant determine selonla methode de l'epulsernent successif.

Inventories are valued at the lower of cost andrealizable value. Cost is determined on the first in, fout method.Immobifisafions corporal/es Capital assetsLes immobilisations corporelles sont amorties en fonctionde leurs durees probables d'utilisation selon la methodede I'amort issement lineaire aux taux annuels suivants :

Capital assets are amortized over their estimated uselives according to the straight-line method atfol lowing annual rates:OrdinateursLogiciels informatiquesMobilier et agencementsAmeliorations locatives

20 % alto 33%33 % alto 50 %20 % alto 33%20 % alto 25 %

ComputersComputer softwareFurniture and fixturesLeasehold improvementsUtilisation d'estimations Use of estimatesDans Ie cadre de la preparation des etats financiers,conforrnernent aux PCGR du Canada, la direction doltetablir des estimations et des hypotheses qui ant uneincidence sur les montants des actifs et des passifspresentee et sur la presentation des actifs et des passifseventuels a la date des etats financiers, ainsi que sur lesmontants des revenus et des depenses constates aucours de la pericde visee par les etats financiers. Lesresultats reels pourraient varier par rapport acesestimations.

The preparation of f inancial statements in conformity wCanadian GAAP requires management to maestimates and assumptions that affect the reportamounts of assets and liabilities and disclosurescontingent assets and liabilities at the date offinancial statements and the reported amountsrevenue and expenses during the reporting periActual results could differ from these estimates.

La duree de vie utile estimative des immobilisationscorporelles, la valeur de realisation des deblteurs et desstocks, et I'evaluation des charges a payer sont leselements les plus importants pour lesquels desestimations ont ete utllisees,

The estimated useful life of capital assets, therealizable value of accounts receivable and inventorand the valuation of accrued liabilities are the msignificant items where estimates are used.

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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC.Notes complsmentalresde l'exerclce eros Ie 30 avrif 20113. GESTrON DU CAPITAL

Comme au cours des exercices precedents, la Federat iondefinit son capital comme etant son actif net et sesrevenus reportes, L'objectif de la Federation est de gererson capital en concordance avec ses diverses conditions.La Federation gare des subventions pour lesquelles iIexiste des affectations d'origine externe preclsant lesconditions a respecter pour utiliser ces ressourcesf lnancleras, La Federation prepare des budgets annuelsqui sont revus regulierement tout au long de I'exercice. LaFederation s'est eontormee aux exigences de ces apportssffectes au cours de I'exercice.La Federation gare aussi Ie Fonds de sante qui est unfonds avec une affectation d'or igine interne. Le transfertau Fonds de sante represents I'excedent provenant de lagestion du Fonds de sante des etudiant(e)s del'Unlversite d'Ottawa. Une fois realise, ce surplus a etetransfere au Fonds de sante dans Ie but de couvrir despertes futures. La Federation s'est conforrnee auxexiqences prevues pour ce Fonds au cours de I 'exercice.

4. FONDATION EDUCATIVE DE LA FEDERATIONETUDIANTE DE L'UNIVERSITE D'OTTAWALa Federation exerce une influence notable sur laFondation educative de la Federation etudiante del'Universite d'Ottawa (Ia "Fondation") en vertu de sacapacite de nommer certains membres du conseild'administration de la Fondation. Une entite exonereede l'irnpot sur Ie revenu, la Fondation a ete constituee en1999 en vertu de la Loi sur les corporations canadiennesafin de recueillir des fonds au profit des etudiant(e)s del'Unlversite d'Ottawa, et ses principaux objectifs sont lessuivants:1. Fournir les fonds et Ie financement necsssalres auxetudiant(e)s de l'Universlte d'Ottawa dont Ie manquede ressources economtques nuit a fa poursuite deleurs etudes.2. Financer des projets communautaires dans Ie cadrede l'Universite d'Ottawa ou de [a region d'Ottawa quifavorisent la participation et I'avancement dess tu d la n tt e )s.3. Organiser une cerernonle annuelle de remise de prixafin de reconnaitre les etudiant(e)s dont l 'lmpllcatlondans la comrnunaute refiete I'excellence etudlante.La Federation n'a verse aucune sornme a [a Fondationau cours des exercices se terminant Ie 30 avril 2010et 2011. Les etats financiers de la Fondation ne sontpas consolides dans les etats financiers de laFederation.

STUDENT FEDERATION OF THEUNIVERSITY OF OTTAWA INC.Notes to the Financial Statementsyear ended April 30, 20113. CAPITAL MANAGEMENT

As in previous years, the Federation defines its capitalits net assets and deferred revenue. The Federationobjective is to manage its capital in accordance withrequirements. The Federation manages grants wexternal restrictions that specify the conditions for usithese financial resources. The Federation prepareannual budgets which are reviewed regularly throughothe year. The Federation has complied with trequirements respecting these restricted contr ibutionthroughout the year.

The Federation also manages the Health Fund which isinternally restricted fund. The transfer to the Health Furepresents the excess of the year arising from managinthe Student Health Fund of the University of OttawOnce realized, this excess was transferred to the HeaFund in order to cover future losses. The Federation hcomplied with the requirements set forth in this Futhroughout the year.

4. STUDENT FEDERATION OF THE UNIVERSITYOF OTTAWA EDUCATIONAL FOUNDATIONThe Federation exercises a significant influence onStudent Federation of the University of OttawEducational Foundation (the "Foundation") throughability to elect members of the board of the FoundatioA non-taxable entity, the Foundation was incorporated1999 under the Canada Corporations Act to provifunds to the students of the University of Ottawa, ahas these main objectives:

1. To provide funding and financing for students ofUniversity of Ottawa whose ability to studyjeopardized due to lack of economic resources.

2. To fund community projects within the UniversityOttawa or the Ottawa region which promoteinvolvement and promotion of students.

3. To establish an annual awards ceremonyrecognize students whose community suppreflects student excellence.The Federation made no donations to the Foundatiduring the years ended April 30, 2010 and 2011. TFoundation's f inancial statements are not consolidatedthe Federation's financial statements.

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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC.Notes cornplementalresde I'exercice clos Ie30 avril 2011

5. STOCKSAu 30 avril, les stocks des differents commercesexploltes par la Federation s'atabllssent comme suit:

2011Pivik 106525 $Agora 363450Bar etudlant au 1848 6934Cafe Alternatif 1166

478075 $

STUDENT FEDERATION OF THEUNIVERSITY OF OTTAWA INC.Notes to the Financial Statementsyear ended April 30, 2011

5. INVENTORIESAs at April 3D, inventories of the various commerciabusinesses of the Federation are as follows:

2010137088 $34532741001 510

PivikAgoraStudent bar at 1848Cafe Alternatif488025 $

La Federation n'a pas cornptabilise de depreciation aucours de l'exercice.

6. IMMOBILISATIONSCORPORELLES2011

Am 0rtissementCoOt curnule

AccumulatedCost Amortization

Ordinateurs 233464 $ 201 919 $Logiciels informatiques 103849 87668Mobilier et agencements 502874 394210Ameliorations locatives 445840 3461801286027 $ 1029977 $

The Federation did not record any write-down during thyear.

6. CAPITAL ASSETS2010

Valeur Valeurnette netteNet Book Net BookValue Value31545 $ 42255 $ Computers16181 27310 Computer software108664 159296 Furniture and fixtures99660 123411 Leasehold improvements256050 $ 352272 $

La de pense d'amortissement de I'exercice est de172588 $ (2010 - 178 868 $).

7. REVENUS REPORTES2011

1322529 $olde au debutPlus: Montants recus au cours deI'exerciceMoins : Montants constates a titre derevenus au cours de I'exercice

3161462(3139820}

The amortization expense for the year is $172,5(2010 - $178868).

7. DEFERRED REVENUE2010

1236810 $ Balance, beginning of year3264522 Add: Funds received during the yearLess: Amounts recognized as revenueduring the year3178803)

Solde a la fin 1344171 $ Balance, end of year322529 $

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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC.Notes complamentairesde I'exercice clos Ie 30 avril 2011

8. MARGE DE CREDITLa Federation dispose d'une marge de credit autoriseede 250000 $ portant interet au taux preferentiel plus0,5 % et garantie par une convention de surets generale.Cette marge de credit n'etait pas utillsee aux30 avril 2011 et 2010.

9. REGIME DE RETRAITELa Federation a cree un regime de retraite a cotisationsdetermlnees destine a tous ses employes a temps plein.La cotisation de la Federation est equivalente a celie deses employes, soit 5 % du salaire annuel. La charge deretraite de I'exercice s'elsvs a 28 395 $ (2010 -28 143 $).

10. INSTRUMENTS FINANCIERSJuste valeurLa valeur comptable des debiteurs, des credlteurs etcharges a payer et Ie dO aux organisations etudlsntesrepresents approximativement la juste valeur de cesinstruments en raison de leurs courtes echeances,Risque de credit

C'est Ie risque qu'une des parties a un instrumentfinancier manque a ses obligations et fasse subir uneperte financiere a I'autre partie.Le risque de credit maximal de la Federation correspond ala juste valeur des deblteurs,

11. ENGAGEMENTS CONTRACTUELSLa Federation loue des locaux pour ses diversesentreprises en vertu de contrats de location-exploitation.Les paiements minimums pour les prochains exercicess'etablissent comme suit:

20122013201420152016

STUDENT FEDERATION OF THEUNIVERSITY OF OTTAWA INC.Notes to the Financial Statementsyear ended April 30, 20118. LINE OF CREDIT

The Federation has a $250,000 authorized line of crewhich bears interest at prime plus 0.5% and is secureda general security agreement. The line of credit was nused as of April 30, 2011 and 2010.

9. PENSION PLANThe Federation has created a defined contributiopension plan for all full-time employees. TFederation's contributions to the plan are equal to thomade by its employees which amount to 5% of annusalary. The pension expense for the year is $28,3(2010 - $28,143).

10, FINANCIAL INSTRUMENTSFair valuesThe carrying values of accounts receivable, accoupayable and accrued liabilities and the due to studeorganizations approximate their fair value due torelatively short periods to maturity of these instruments.Credit risk

The risk relates to the potential that one party tofinancial instrument will fail to discharge an obligatiand cause the other party to incur a financial loss.The maximum credit exposure of the Federationrepresented by the fair value of the accounts receivable.

11. COMMITMENTSThe Federation is committed under operating leasesbusiness premises, The minimum amounts payablethe upcoming years are as follows:

220,490 $220,938208,71374,2466,187

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FEDERATION ETUDIANTE DEL'UNIVERSITE D'OTTAWA INC,Notes complementalresde I'exercice clos Ie 30 avril 2011

12, PASSIFS EVENTUELSDans Ie cours normal de ses operations, la Federationest impliquee dans diverses reclamations legales. Memesi Ie rssultat final de ces reclamations ne peut etredetermine actuellement, la direction est d'avis que lesresultats n'auront pas d'impact significatif negatif sur lesetats financiers.

13. VENTILATION DES DEPENSESAu cours de I'exercice, Ia Federation a ventile sesdepenses de salaires et charges soclales et de publlcltede lafacon suivante :

2011Agora 108696 $Centre des etudiants ayant un handicap 7198Banquealimentaire 7085Baratudlant "1848" 16577CafeAlternatif 10794Centre de recours etudiant 8567Centre de bilinguisme 7122Centre de la Fierte 7354Centre d'entraide etudiante 7354Centre de ressources pour les femmes 7096Clubs 7147Environnement 8341Etudiant(e)s refugie(e)s 6610Fondsde sante 102331Maison internationale 7425Pivik 57685Centre d'equite en matiere des droits dela personne 9193Service de raccompagnement 7354ProductionsZoom 7994

401 923 $

STUDENT FEDERATION OF THEUNIVERSITY OF OTTAWA INC,Notes to the Financial Statementsyear ended April 30, 2011

12. CONTINGENT LIABILITIESIn the ordinary course of business activities, tFederation became involved in various legal actioWhile the ultimate effect of such actions cannotascertained at this time, management believes that thresolution will not have a material adverse effect on tfinancial statements.

13. ALLOCATION OF EXPENSESDuring the year, the Federation allocated salaries abenefits and marketing expenses as follows:

2010109271 $ Agora7611 Centre for Students with disabilities7484 Food Bank16073 Student Bar "1848"10166 Cafe Alternatif9179 Student appeal Centre7523 Bilingualism Centre7810 Pride Centre7514 Peer Help Centre7507 Women's Resource Centre7397 Clubs5850 Environment6659 Refugee students82289 Health Fund7888 International House93867 Pivik

9896 Centre for Equity and HUmanRights7901 Foot Patrol8217 Zoom Productions420102 $

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FEDERATION ETUDIANTE DE STUDENT FEDERATION OF THEL'UNIVERSITE D'onAWA INC. UNIVERSITY OF onAWA INC.Renselgnements complementalrcs Supplementary Informationde I'exerclce clos Ie30 avril 2011 year ended April 30, 2011

Annexa I ISchedule I I2011 2010

Deperrsss dexploitation Operetlng expensesAgora 589993 $ 566813 $ AgoraCentre desMudlants ayan! un handicap 67776 65416 Centre for Studentswith disabilitiesBanque alimentatre 62303 60133 Food BankCentre de recours etudiant 134175 126980 Student appeal CentreCentre de Bllinguisme 64079 61848 Bilingualism CentreCentre de la Fierle 76114 73467 Pride CentreCentre de ressources pourfemmes 62847 60659 Women's Resource CentreCentre d'entreide etudiant(e) 76114 73467 Peer Help CentreCFS 247 002 237214 CFSCFS Ontario 206880 198103 CFS OntarioC.H.U.O. 26652B 256044 C.H.U.O.Clinique d'aide juridique 177 680 170708 Legal Aid ClinicClubs 65311 63038 ClubsCentre d'equlte en mallere desdrolts de la personne 164439 158051 Centre for Equity and HumanRightsEtudiant(e)s r9!ugie(e)s 40436 38803 Refugee studentsFulcrum 182188 175165 FulcrumGroupe de recherche sur I'interet public Ontario Public Research Interestde l'Ontario 238812 229579 GroupMaison internatlonale 79657 76615 International HouseOrganismes fede.,;s 224122 211964 Federated bodiesProductions Zoom 105649 101296 Zoom ProductionsReserve defonds pour lesservices 105177 101511 Funds set aside for servicesRotonde 182188 175165 RotondaService de consultation 129246 124222 Counselling ServicesService de raccompagnement 76114 76763 Foot patrolServices de carriere 100904 96866 Ca ree r s e rv i ces

3724534 3581890 $Services aux etudianl(e)s Student servicesActivites socials. 439 B12 $ 401224 $ Social activitiesBanque alimenlaira (11 556) 121512) Food BankC.E.D.P. (10708) (8374) C.E.H.R.Centre d'entraide eludiant(e) (8708) (9138) Peer Help CentreCentre de Blflnguisme (30142) 3902 Bilingualism CentreCentre de developpement durable 56300 67521 Sustainable development centreCentre de la Fiert.. (297) (6253) Pride CentreCentre de recoursetudiant (27705) (26229) Student appeal centreCentre de ressourcespourfemmes (2 005) (16380) Women's Resource CentreCentre des etudlaotsayant un handicap (13334) (9435) Centre for students with disabilitiesClubs 43046 63288 ClubsConferences 15694 16372 ConferencesCcnseil d'administration 11100 B005 Board of AdministrationCo-op velo 34093 Bike co-opElections 47281 56619 ElectionsEtudiant(e)s refugie(e)s 4125 (4431) Refugee studentsFonds de sante (1908481 (313948) Health FundMaison lnternatlonale (12521) 23729 Internationat HousePhilantrople 26882 32136 PhilantrophyProductions Zoom (20 542J (203BO) Zoom ProductionsService de raccompagnement (31 73BI (27315) Foot PatrolServices divers pour etudiant(els Miscellaneous services to students(depenses discretionnaires) 25079 32643 (discretionary expenses)Subventions 25 B70 19879 SubsidiesUPASS 7345 B38 U-PASS

7714016 $ 261923 $Depenses administratives Administrative expensesAmortissement des lmmoblllsallona corporelles 26930 26946 $ Amortization of capital assetsAssurances 10 228 9485 InsuranceCreance douteuse 46000 Bad debt expenseComite social 6392 8365 Social committeeCotisations et abonnements 5836 5641 Dues and subscriptionsDivertissement - relations publiques 38491 19301 Entertainment - Public relationsEntretien et reparations S 617 6544 Maintenance and repairsFourn i tu res de bureau 26993 36839 Office suppliesHonoraires protessionnels 137191 92242 Professional feesInter!tset fralsbancalres 15026 14377 Interest and bank chargesLocation d'equipemant 497 (10) Equipment rentalPublicita 3B105 25542 AdvertisingSalalras et chargessocials. 341 9B9 394 653 Salaries and benefit.Securlte 1007 515 SecurityTelecommunications 24 629 22473 Telecommunications

724931 $ 662913 $

État financier de la Fédération étudiante de l'Université d'Ottawa (FÉUO) 2011 - Student...

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