[BCMA] Accounting Question

Tue Mar 10 14:55:16 PDT 2020

We are in the same position - as Peter 

Regards 

Jim Millar 

Executive Director 
Port Moody Heritage Society dba Port Moody Station Museum 
2734 Murray Street 
Port Moody,BC 
V3H1X2 

604 939 1648 

"We acknowledge our location on the unceded territories of the Coast Salish speaking peoples, with whom we are actively working to develop strong relationships" 

CONFIDENTIALITY NOTICE: This message and any accompanying attachments contains information intended for a specific individual(s) and purpose and should be treated as confidential and the property of the Port Moody Heritage Society. If you are not the intended recipient, or a person responsible for delivering it to the intended recipient, please notify the sender immediately and destroy all copies of this e-mail. 

From: "Moderated BCMA subscriber listserv." <bcma at lists.vifa.ca> 
To: bcma at lists.vifa.ca 
Sent: Tuesday, March 10, 2020 11:02:22 AM 
Subject: Re: [BCMA] Accounting Question 

Hi 

We have never been asked for a valuation of our collection, and the time and cost associated for an appraisal company would be prohibitive for us. 

Regards 

Peter 

From: bcma-bounces at lists.vifa.ca [mailto:bcma-bounces at lists.vifa.ca] On Behalf Of Moderated BCMA subscriber listserv. 
Sent: March 9, 2020 10:49 AM 
To: bcma at lists.vifa.ca 
Subject: Re: [BCMA] Accounting Question 

We have not been told this by our accounting firm, and they're currently working on our 2019 year end statements. Did your firm indicate who required this information? 

Bulkley Valley Museum 

PO Box 2615 

1425 Main Street 

Smithers, BC 

V0J 2N0 

250-847-5322 

info at bvmuseum.org 

On Mon, Mar 9, 2020 at 10:38 AM Moderated BCMA subscriber listserv. < bcma at lists.vifa.ca > wrote: 

Hi friends … 

I am wondering if anyone else has been told by their accounting firms that as of 2019 Museums and Galleries now have to account for the value of their permanent collections when doing their yearend? 

We were told we have three options: 

1) get the whole collection appraised 
2) include the value of all the tax receipts given and purchases made 
3) provide a nominal value per item and multiply the entire value by the number of items in the collection. 

I am wondering if anyone else has heard of this change and if so what are the thoughts of the community as we have never accounted for the value of our permanent collection on our books previously. 

Thank you for your time and input. 

I look forward to your reply. 

Paul F. Crawford 

Director/Curator 

Penticton Art Gallery 

199 Marina Way 

Penticton, B.C. 

V2A 1H5 Canada 

Phone: (250) 493-2928 
Email: curator at pentictonartgallery.com 

Web: www.pentictonartgallery.com 

On the unceded territory of the Syilx (Okanagan) Peoples. 

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