CAFA Finance Report - Inception to July 31, 2001
Statement of Revenue and Expenses
Notes to the Financial Statements
Canadian Association of Freediving and Apnea (CAFA) was incorprated on June 30, 2000 as a non-profit organization.
These financial statements have been prepared by the executive using the cash method of accounting. No review or audit of these statements has been completed.
These deposits represent deposits received from competitive freedivers to secure their positions on Team Canada for the World Championships in Spain in October 2001. These deposits will go towards paying entry fees into the competition and associated expenses.
Sponsorship represents cash contributions from sponsors towards expenses incurred in competing in the AIDA World Cup in France in October 2000. It does not represent sponsors who contributed equipment to the Team or sponsprships that team members may have received individually. It also includes one sponsorship for the World Championship in Spain in October 2001. These funds were used to pay expenses incurred by Team Canada, or distributed directly to the Team members.
These expenses relate to expenses incurred by Team Canada primarily for the AIDA World Cup competition in France in October 2000. It also includes $400 for expenses relating to the AIDA World Championships in Spain
This expense represents the legal fees for incorporation and setting up of CAFA.
Updated 29 September 2001