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NOTES TO FINANCIAL STATEMENTS NOTE 2- GRANTS AND CONTRACTS RECEIVABLE Grants and contracts receivable consist of the following at December 3], 2004: Government grants receivable Foundation grants receivable NETs program receivable Total grants and contracts receivable $ 34,827 75,000 69,063 $ 178,890 Grants and contracts at December 31, 2004, to be received in future periods are as follows: Receivable in less than one year Receivable in one to five years Total grants receivable NOTE 3 � ACCOUNTS RECEIVABLE Accounts receivable consists of the following at December 31, 2004: Accounts receivable, Mental Health Services Allowance for doubtful accounts and contractual adjustments Accounts receivable, NET Services Allowance for doubtful accounts and contractual adjustments Total accounts receivable, net of allowance for doubtful accounts and contractual adjustments NOTE 4 - NET SERVICES $ 153,890 25,000 $ 178,890 � � ��,�"� i��,l��j ��? t ��a,a�� [��,3�� E i][h,4 r t� � T ��,� 1 � The NET Ser�ices program is funded by a contract with the Moundsview School District in an amount not to exceed $1,611,469. The contract period extends from August 2004 through June 30,2005. Per the contract, NYFS receives a specified dollar amount per student for services rendered. Any revenue generated from other sources such as state, county or private resources are to be used to reduce the costs of services to the Moundsview School District. However, if such collections are less than originally estimated by either party, the Moundsview School District bears the responsibility of the increase in costs and will reimburse NYFS for any shortage. In the event NYFS is over funded or under funded, such amounts will be reconciled and paid at the contract period end of June 30,2005. (continued on next page) I �