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2007-2008 ANNUAL REPORT
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S A S K A T C H E WA N I N D I A N G A M I N G A U T H O R I T Y I N C .
Notes to the Consolidated Financial Statements
Year ended March 31, 2008
2. Significant accounting policies:
These financial statements have been prepared in accordance with Canadian generally accepted
accounting principles. The following is a summary of significant accounting policies:
(a) Basis of consolidation:
The consolidated financial statements include the accounts of SIGA and its subsidiary companies
– 621086 Saskatchewan Ltd. and 601616 Saskatchewan Ltd. On consolidation, all significant
inter-company transactions and balances are eliminated. Effective March 31, 2008, the subsidiary
companies were wound up and all of the assets and liabilities were transferred to SIGA.
(b) Inventory:
Inventory is recorded at the lower of cost and net realizable value.
(c) Capital assets:
Capital assets are recorded on the balance sheet at cost. Amortization is recorded in the accounts on
a straight-line basis commencing in the month the asset is put in use, at rates expected to amortize
the cost of the assets over their estimated useful lives as follows:
Asset
Rate
Leasehold improvements
lesser of the useful life of the asset and term of the lease
Casino development costs
term of the lease
Security equipment
5 years
Gaming tables and equipment
5 years
Signage and interior design
5 years
Office furniture and equipment
5 years
Coin handling equipment
5 years
Computer equipment
5 years
Restaurant equipment
5 years
Automobiles
4 years
Artwork
5 years
Casino pre-operating costs
5 years
Computer software
1 year
(d) Slot and table revenues
Slot and table revenues represent the net win from those gaming activities calculated as the
difference between amounts wagered and prizes paid by the casino. Slot and table revenues
are net of accruals for anticipated payouts of progressive jackpots.
(e) Commitment of net proceeds of table operations:
Liabilities are recorded when amounts to be distributed are approved by the Board of Directors.