UNBC Pension Plan Financial Statement Highlights 2005 and 2006 Presented by: Colleen Smith Chief Financial Officer (Acting)

Financial Statement Highlights Full audited statements for 2005 available at: – Statements provide a summary of assets and activity for all members Prepared by management to assist plan members and others in reviewing activities of the Plan for the year and to satisfy regulatory requirements

Financial Statement Highlights (cont’d.) Statements are audited annually. In 2005, as in previous years, KPMG issued “clean” audit opinion – no reservations under GAAP Audited financial statements are reviewed with and approved by the Trustees each year Information in the financial statements is presented based on the market value as at December 31 of the year

Financial Statement Highlights (cont’d.) 2 main statements –Net Assets available for Benefits Market value of total plan assets grew by $4.866 million in 2005 and $6.631 million in 2006 to $ million Members primarily invested in balanced and Canadian equity funds (nearly 70% in 2005 and 2006) –Changes in Net Assets available for Benefits Net investment income $2.773 million in 2005 and $4.180 million in 2006 Total employee and employer contributions $3.612 million in 2005 and $4.144 million in 2006

Financial Statement Highlights (cont’d.) Notes to Financial Statements –Provide general description of the plan and significant accounting policies Schedule I –Provides some statistics, summary of plan and market returns Schedule II –Provides summary of activities in the Plan by fund category. Beginning in 2004, information on simplified calculation of fees as a percentage of average fund balance also provided