ACE 2010-2011 Annual Report

Page 69

Unrestricted net assets

2011

2010

$

$

378,338

463,524

The organization’s objectives when managing capital are to hold sufficient unrestricted net assets to enable it to withstand negative unexpected financial events. The organization seeks to minimize the exposure to capital deficiencies and to maintain sufficient liquidity to enable it to meet its obligations as they come due.

11. COMPARATIVE AMOUNTS Certain items in the prior year financial statements have been reclassified for comparative purposes to conform with the method of presentation adopted in the current year.


Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.