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bov, s & Girls Club of Indian River County, Inc <br /> _votes to Financial Statements (continued) <br /> ti <br /> Note 1 — Summary of Significant Accounting Policies r ntinued) <br /> Donated Services <br /> Zlle Club received donated services from unpaid volunteers for certain actitiZnes . No amounts <br /> have been recognized m the acco=an` gn2 financial statements as the criteria for recognition <br /> under Financial Accounting Standards Board Statement No . 116. `;accounting for Contriounons <br /> Received and Contributions Made " have not been satisfied. <br /> Use of Estimates <br /> The preparation of =mancial stateme=s in conformity; lTrfth orenerally accented accctl:.ang <br /> principles requires manage <br /> ment to m e estir = tes and assumptions that a. ect .he retorted <br /> atriounts of assets and liabilities and G'E'closure of contingent assets and `;% b ' 1neS at the date OI <br /> the financial statements aria the reported amount; of revenues and expenses during the reporinz <br /> period. Acnlal results could dij'.Fer from :hose estimates . <br /> Note 2 — Property and Equipment, net <br /> Property and .grtipment consists of the :pilo « inc at June 0 : <br /> Vehicles <br /> Leasehold improvements -10 . -0` <br /> Office equipment and furnishings '1 ' � 3 ' <br /> Club equipment and furnishings 36 , 641 <br /> ., <br /> i <br /> 10 . 794 <br /> Less accumulated depreciation <br /> S 98 . S_ 1 <br /> Note 3 — Loan Pavable <br /> In June 200 _. a board -ne:nber a -uric develop -Hent software pac :cage aria training or, <br /> behalf of the Club for X23 , 31 = . The C : is ooii ated to repay the board membe hen rands are <br /> avaiiahle . ?� o interest on the loan balanc : is beirQ charged . The entire S2 :. ' 12 loan. baiance :was <br /> forgiven in September _ 002 . <br /> Note 4 — TemporariIy Restricted -Net _-assets <br /> Temporarily restrictea net asset; consi _ : or .he :ollowinJ : <br /> ? outh Voiunteer Corn program <br /> . o . . 00 <br /> .Sebastian building :. coital smpaig?; _ <br /> Photogranhv orog: m - - = <br /> 1 � . _ _ <br /> I i <br />