10-18 Last five years funding history and Resolutions

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EAST TEXAS COUNCIL ON ALCOHOLISM AND DRUG ABUSE NOTES TO FINANCIAL STATEMENTS AUGUST 31, 2009 Note 1 Summary of Significant Accounting Policies (continued) Estimates Management uses estimates and assumptions in preparing financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported revenues and expenses. Actual results could differ from those estimates. Note 2 - Property and Equipment All acquisitions of property and equipment and all expenditures that materially prolong the useful lives of assets that exceed a capitalization threshold of $5,000 are capitalized. Furniture and equipment are recorded on the books at cost. The accumulated depreciation is computed on the straight-line basis, using estimated useful lives as follows: Furniture and Equipment - 5 to 10 years The book value of furniture and equipment on August 31, 2009 is as follows: Furniture and equipment $ 156,196 Less accumulated depreciation (100,268) $ 55,928 Note 3 - Donated Services Materials and Facilities A substantial number of unpaid volunteers have made significant contributions of their time to the Council. The estimated value of this contributed time is $53,956 and has been recorded as temporarily restricted contributions and salaries expense. The use of several facilities for offices has been donated to the Council. The estimated rental value of these facilities is $4,530 per month. $25,800 has been recorded in the statement of activities as a temporarily restricted contribution and as rent and building maintenance expenses. The Council received donations of supplies. The estimated value of the donated supplies is $147,427 for the year ended August 31, 2009 and has been recorded as temporarily restricted contributions and supplies expense. 0.1288