Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32May 31 2015 20 AUDITED FINANCIAL STATEMENTS Ontario Electronic Stewardship Financial Statements For the year ended December 31, 2015 Contents 36 t r o p e R s ' r o t i d u A t n e d n e p e d n I Financial Statements Balance Sheet 37 Statement of Changes in Net Assets 38 Statement of Operations 39 Statement of Cash Flows 40 Notes to Financial Statements 41-44