Financials

Statement of Revenue and Expenditure

For the year ended March 31 2008 2007
NSERC Funded Portion of the National Design Network Other ICP Total Total
Revenue
Grant from Natural Sciences and Engineering Research Council of Canada/ICP $9,231,190 $ - $468,870 $9,700,060 $9,700,000
Engineering fees 522,088 - - 522,088 650,742
Cost sharing for fabrication 19,663 248,762 - 268,425 328,271
Interest - 132,380 - 132,380 77,966
Donations for courses and annual symposium - 55,930 - 55,930 55,514
Other - cost sharing - 143,328 - 143,328 -
9,772,941 580,400 468,870 10,822,211 10,812,493
Expenditures
Salaries and benefits 5,184,141 - 101,564 5,285,705 5,072,111
Equipment purchases and development contracts 1,965,613 - - 1,965,613 2,484,949
Professional fees 460,261 - - 460,261 1,308,179
Travel 462,406 - 14,923 477,329 526,405
Training 377,356 - - 377,356 452,962
Rent overhead 8,250 - 323,501 331,751 321,065
Amortization 307,602 3,456 - 311,058 289,658
Office and miscellaneous 130,653 43,841 - 174,494 249,064
Small equipment, supplies and equipment maintenance 41,504 - - 41,504 217,141
Employee search and outplacement costs 58,598 - - 58,598 199,905
Printing 96,195 - - 96,195 125,041
Telephone 90,973 - - 90,973 116,632
Foreign exchange loss 55,024 - - 55.024 49,099
Contract services 123,849 - - 123,849 34,327
Insurance 1,556 - 28,695 30,251 33,617
Furnishings - - - - 15,538
Repairs and alterations to premises 2,539 - - 2,539 14,582
9,366,520 47,297 468,683 9,882,500 11,510,275

Excess of revenue over expenditures (expenditures over revenue) for the year

 $406, 421 $533,103 $187 $939,711 $(697,782)

The accompanying summary of significant accounting policies and notes are an integral part of these financial statements.

 

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