Auditors' Report

Financial Position

Net Assets

Operations

Cash Flows

Notes

CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS

Year ended March 31	2008
[in thousands of Canadian dollars]
	Unrestricted $		Internally restricted $		Invested in capital assets $		Total $
Balance, beginning of year as     originally stated	6,375		58,124		33,711		98,210
Change in accounting policies [note 2]	1,729		—		—		1,729
Balance, beginning of year as restated	8,104		58,124		33,711		99,939
Excess of revenue over    expenses for the year	54,908		(5,793)		(4,443)		44,672
Investments in capital assets, net	(8,999)		—		8,999		—
Transfers for future expenditures	(40,000)		40,000		—		—
Unrealized loss on forward foreign    exchange contracts [note 12]	(423)		—		—		(423)
Losses on forward foreign exchange    contracts included in net income	40		—		—		40
Net increase in value of forward foreign    exchange contracts	(383)		—		—		(383)
Balance, end of year	13,630		92,331		38,267		144,228

Year ended March 31	2007
[in thousands of Canadian dollars]
	Unrestricted $		Internally restricted $		Invested in capital assets $		Total $
Balance, beginning of year	5,264		51,633		32,497		89,394
Excess of revenue over expenses     for the year	17,810		(4,509)		(4,485)		8,816
Investments in capital assets, net	(5,699)		—		5,699		—
Transfers for future expenditures	(11,000)		11,000		—		—
Balance, end of year	6,375		58,124		33,711		98,210
See accompanying notes