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CASA FOR KIDS, INC. <br />Notes to financial Statements <br />June 30, 2008 <br />Note A: Nature of Activities and Significant Accounting Policies <br />Nature of Activities <br />The CASA FOR KIDS, INC. (CASA) was formed in 1997 as a nonprofit, <br />organization with a mission to teach and promote child abuse prevention. CASA <br />works in conjunction with local law enforcement, child protective services, and the. <br />county attorney's office to provide court appointed special advocates for these <br />victims. CASA is supported primarily by grants and donations from the public. <br />Basis of Accounting . <br />The accompanying financial statements have been prepared on the accrual basis <br />- of accounting in accordance with generally accepted accounting principles. <br />Financial Statement Presentation <br />CASA has adopted Statement of Financial Accounting Standards (SFAS) No. 117; <br />Financial Statements of Not-for-Profit Organrzations. Under SFAS No. 117, CASA <br />is required to report information regarding its financial position and activities <br />according to three classes of net assets: unrestricted net assets, temporarily <br />restricted net assets, and permanently restricted net assets. In addition, CASA is <br />required to present a statement of cash flows. Net assets of CASA and changes <br />therein are classified and reported as follows: <br />Unrestricted net assets - Net assets that are not subject to donor- imposed , <br />stipulations. <br />Temporarily restricted net assets = Net assets subject to donor-imposed <br />stipulations that may or will be met, either by actions of CASA and/or the <br />passage of time. When a restriction expires, temporarily restricted net assets <br />are reclassified to unrestricted net assets and reported in the statement of <br />activities as net assets released from restrictions. <br />Permanently restricted net assets - Net assets subject to donor-imposed <br />stipulations that may be maintained permanently by CASA. Generafly, the <br />donors of these assets permit CASA to use all or part of the income earned on <br />any related investments for general or specific purposes. <br />