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EXCHANGE CLUB CENTER FOR THE PREVENTION OF <br /> CHILD ABUSE OF THE TREASURE COAST, INC . <br /> NOTES TO FINANCIAL STATEMENTS <br /> September 30, 2002 <br /> Note 1 - Significant Accounting Policies (Continued) <br /> I. Estimates <br /> The preparation of financial statements on the cash basis requires management to make <br /> estimates and assumptions that affect certain reported amounts and disclosures . Accordingly <br /> actual results could differ from those estimates . <br /> J . Advertising <br /> Advertising costs are expensed as incurred. Advertising expense was $4,375 for the year <br /> ended September 30 , 2002 . <br /> Note 2 - Cash <br /> Cash as reported on the statement of assets, liabilities, and net assets - cash basis, includes the <br /> following : <br /> Checking $ 118 ,483 <br /> Money market 2, 021 <br /> Savings 284,364 <br /> Petty cash 225 <br /> Total cash $405 ,093 <br /> Less : Cash (Board Designated) $ 240 , 000 <br /> Total cash in current assets 1 f 5 . 093 <br /> The $240 , 000 of cash classified Board designated is reserved for future projects and the hiring <br /> of new personnel, and thus is not classified as a current asset. The Board maintained this <br /> amount in the savings account and therefore it is recognized as cash for cash flow purposes . <br /> At September 30, 2002, the Organization had $402, 847 on deposit at one bank, of which <br /> $ 302, 847 was not insured by the Federal Deposit Insurance Corporation. <br /> - 11 - <br />