b'Appendices Appendix 4 GENOME CANADA Notes to Financial Statements Year ended March 31, 2019 (in thousands of dollars) 1.Description of the organization: Genome Canada (the "Corporation") was incorporated on February 8, 2000, under the Canada CorporationsActandcontinuedonDecember11,2012.TheCorporationisanot-for-profit organization and has the following objectives: (a)Thedevelopmentandestablishmentofaco-ordinatedstrategyforgenomicsresearchto enable Canada to become a world leader in areas such as health, agriculture, environment, forestry, fisheries, mining and energy; (b)Theprovisionofleading-edgetechnologytoresearchersinallgenomics-relatedfields through regional Genome Centres across Canada, of which there are currently six, one each in British Columbia, Alberta, the Prairies, Ontario, Quebec and the Atlantic; (c)The support of large-scale projects of strategic importance to Canada by bringing together industry, government, universities, research hospitals and the public; (d)The assumption of leadership in the area of ethical, environmental, economic, legal, social and other issues related to genomics research, and the communication of the relative risks, rewards and successes of genomics to the Canadian public; and (e)The encouragement of investment by others in the field of genomics research.2.Significant accounting policies:ThefinancialstatementshavebeenpreparedbymanagementinaccordancewithCanadian accountingstandardsfornot-for-profitorganizationsandincludethefollowingsignificant accounting policies: (a)Revenue recognition: The Corporation follows the deferral method of accounting for contribution for not-for-profit organizations received from the Government of Canada. Externally restricted contributions and related investment income are recognized as revenue in the year in which the underlying expenses are incurred. A receivable is recognized if the amount to be received can be reasonably estimated and collection is reasonably assured. Externallyrestrictedcontributionsforthepurchaseofcapitalassetsaredeferredand amortized to revenue on a declining balance basis at a rate corresponding to the amortization rate for the related capital assets. (b)Investments: Investments are recorded at fair value. Fair value is determined at quoted market prices. Salesandpurchasesofinvestmentsarerecordedatthesettlementdate.Short-term investments can be easily converted to cash during the period. Transaction costs related to the acquisition of investments are expensed. 7 7'