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NOTES TO FINANCIAL STATEMENTS Summer Camp � NYFS offers multi-week summer camp experiences to youth in low-income areas. The program provides healthy recreation activities while camp counselors teach and model appropriate social skills. Northwest Educational and Therapeutic Services (NET Services): Established in August 2004, NET Services is a daily, year-round, day treatment program for youth that combines therapeutic services with educational programming to address the needs of severely emotionally disturbed youth. A program of Northwest Youth and Family Services, it is administered in collaboration with Moundsview School District 621. The contract period extends from August 2004 though June 30, 2005; which is coordinated with the school's fiscal year. NET Services offers a comprehensive approach that works to instill in each child a feeling of self-worth and hope for the future. The program emphasizes structure and nurturance in its approach to young people. This approach is demonstrated in a fair but firm refusal to do anything for the client that the client is capable of doing for him or hersel£ Our goal is to help the client make a successful transition into a less restrictive school setting. To promote lasting improvement, NET Services also emphasizes family participation and involvement. Mental Health Pro�r� - NET Services mental health program consists of individual and group therapy, therapeutic recreation, creative arts and life skills therapy. Educational Pro r� - Classes are smaller and more individualized to meet the specific educational needs of our clients. Familv Pro�ram - Family involvement is critical to the success of each client. Families are required to participate in individual and/or multi-family sessions and parent education sessions. Basis afAcc�unting The financial statements of the Organization have been prepared on the accrual basis of accounting and, accordingly, reflect all significant receivables, payables and other liabilities. Basis ofPresentation Financial statement presentation follows the recon�mendations ofthe Financial Accounting Standards Board in its Statement of Financial Accounting Standards (S�'AS) No. 117, Financial Statements of Not far-Profit Organizations. Under S�`AS No. 117, the Organization is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets. The Organization had no permanently restricted net assets at December 31,2004. Cash and Cash Equivalents For the purpose of the statement of cash flows, the Organization considers all highly liquid investments with a maturity of three months or less to be cash equivalents. At times, bank deposits may be in excess of FDTC limits. (continued on next page)