On behalf of the Board. See accompanying notes to financial statements. On behalf of the Board. The Council is a non-profit organization chartered under the provisions of part II of the Canada Corporation Act and its principal activities include promoting scientific awareness and education, providing expert advice concerning the earth sciences, attending and participating in related international conferences and providing liaison between various levels of government and companies involved in geological activities. Investments are carried at cost plus accrued interest.
Equipment is stated at cost less amortization.
Amortization is provided on a straight-line basis over five years. On behalf of the Board. Date-sensitive systems may recognize the Year 2000 as 1900 or some other date, resulting in errors when information using Year 2000 dates is processed. In addition, similar problems may arise in some systems which use certain dates in 1999 to represent something other than a date. It is not possible to be certain that all aspects of the Year 2000 issue affecting the Council, including those related to the efforts of customers, suppliers, or other third parties, will be fully resolved.