L' Association des Francophones de Nanaimo
Statement of Changes in Net Assets
For the year ended March 31, 2005

Investment in
Capital Unrestricted

Assets Net Assets 2005 2004
Balance at beginning of year 65,907 58,900 124,807 118,114
- 4,450 4,450 6,693

Excess of revenues over expenses

Capital asset purchases funded by operations 2,762 (2,762) - -

Balance at end of year 68,669 60,588 129,257 124,807

The accompanying notes are an integral part of the financial statements