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Northeast Texas Council on Alcohol and Drug Abuse, Inc. Notes to Financial Statements For the Year Ended August 31, 2002 NOTE 2 - SUIvhM3~Y OF SIGN]~CANT ACCOUNTING POLICrt~S - (CONTINUED) Expenditures for capital assets are stated at cost. Depreciation of equipment, furniture and fixtures, and vehicles is calculated on the straight-lLue method over the estimated useful lives of the respective assets. Changes in fixed assets are as follows: Balance Balance g-gl~01 Additicm~ R e, tiremeuf~ g-'41-02 Equipment $129,417 $30,667 $160,084 Fumit~e and Fixtures 29,711 29,711 Vehicles 52,241 52,241 Loss.' Accumulated Depreciation F. 'I~n:~nc.i~l ~qt~tem~t Pre~entntlcm NETCADA has adopted Statement of F~ci~ Aeco~t~g St~ds (SFAS) No. 117, "F~cial Statement~ of Not-fo~-Profit O~g~zatio~." Unde~ SFAS No. 117, ~TC~A is ~ed to repo~ ~o~ation reg~d~g its ~cial position ~d acfi~fies acco~g to ~ee closes of net ~sets (~es~ct~ net ~sets, t~por~ly res~ct~ net assets, ~d p~ently res~ct~ net ~sets) b~ed upon ~e existence or absence of dono~-~pos~ new st~d~d, ~TC~A h~ discon~ued it ~se of ~d acco~t~g ~d h~, accord~gly, ~ecl~sified its ~cial s~temen~ to present closes of net ~se~. * U~es~ct~ ne~ ~sets - Net ~sets ~at ~e not sub~t to donor-~posed stipulation. * Tempor~ly res~cted net ~sets - Net ~sets subject to donor-~posed stipulafio~ ~at may or will be met, eider by actions of~e Agency ~or the p~sage of t~e. ~en a resection exp~es, temp?~ly res~cted net ~sets ~e recl~sified to ~es~cted net ~sets ~d ~epo~ed ~ the statement of activi~ ~ net assets ~eleased ~om res~ct(ons. * Pendently res~cted net asse~s - Net assets subject to donor-res~cted stipulatio~ ~at ~e to be m~t~ed pendently by the Agency. Generally, ~e donors of~eses ~sets pe~t ~e Agency to use all o~ p~ of the ~come e~ed on ~y relate~ inves~ents fo~ general o~ specific p~oses. 1!