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HAWAII ISLAND HUMANE SOCIETY <br /> Notes to the Financial Statements <br /> June 30, 2009 <br /> Note 7. RECONCILIATION OF EXCESS SUPPORT AND REVENUE OVER EXPENSES TO <br /> NET CASH PROVIDED BY OPERATING ACTIVITIES <br /> Excess Revenue over Expenses $ 180,314 <br /> Adjustments to Reconcile: <br /> Depreciation 93,130 <br /> Change in Other Current Assets (13,635) <br /> Change in Accounts Payable 142,610 <br /> Change in S/N Coupon Liability 45,000 <br /> Change in Credit Cards 3,120 <br /> Change in Copier Lease 32,854 <br /> Change in County Payable 12,100 <br /> Change in Accrued GET 4,928 <br /> Change in Accrued PR Tax (4,401) <br /> Change in Accrued Vacation 2,311 <br /> Net Cash Provided by Operating Activities $ 498,331 <br /> Note 8. RETIREMENT PLAN <br /> The Hawaii Island Humane Society maintains an IRA retirement plan for all eligible employees <br /> whereby the Organization contributes 5% of each eligible employee's wages. Employees are <br /> considered eligible after they have been employed by the Organization for at least two years. <br /> During the year, retirement plan expenses totaled $21,412. <br /> Note 9. FUNCTIONAL EXPENSES <br /> The Hawaii Island Humane Society allocates expenses on a functional basis among three categories: <br /> direct program services, supporting services, and fundraising. Most expenses are allocated to the <br /> program and support services benefited. <br /> Note 10. SPAY /NEUTER PROGRAM <br /> The Hawaii Island Humane Society sells coupons that enable the client to take their animal to a <br /> participating veterinarian for spay /neuter services. As a service to the community, the veterinarian <br /> has agreed to perform his services at a reduced rate which is the price that the client paid for the <br /> coupon. The veterinarian accepts the coupon as payment for the spay /neuter services that he has <br /> performed and then bills the Hawaii Island Humane Society for payment of his services. <br /> The County of Hawaii subsidizes the payments to the veterinarian by funding Hawaii Island <br /> Humane Society the amount of $121,600 per year. The program expenses exceed the county <br /> funding. The remaining expenses are paid from the revenues generated by coupon sales. As of <br /> June 30, 2009, the program incurred a loss of $19,063 above the amount generated by both coupon <br /> sales and county funds. <br /> Page 12 <br />