CIRI recently released its 2012 Annual Report. This document summarizes the Company’s performance last year and contains information that shareholders and interested readers can use to better understand CIRI’s business and investments. Annual Report financial statements can be difficult to understand. This guide explains key parts of the financial statements that are on pages 26-30 of CIRI’s 2012 annual report. The consolidated financial statements include:
Consolidated Balance Sheets
Consolidated Statements of Operations
Consolidated Statements of Other Comprehensive Income
Consolidated Statements of Changes in Shareholders’ Equity
Consolidated Statements of Cash Flows
The consolidated financial statements are accompanied by footnotes that provide additional details about the Company’s financial position, investments and earnings. An independent auditor, KPMG LLP, audits the financial statements and issues opinions as to CIRI’s conformity with generally accepted accounting principles. Following the financial statements and footnotes is CIRI management’s discussion and analysis that provides additional information about the Company’s operations and holdings.
The mission of CIRI is to promote the economic and social well-being and Alaska Native heritage of our Shareholders, now and into the future, through prudent stewardship of the company’s resources, while furthering self-sufficiency among CIRI Shareholders and their families.
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Cook Inlet Region, Inc. (CIRI) is one of 12 regional corporations established in Alaska by the Alaska Native Claims Settlement Act of 1971. CIRI is owned by over 9,200 Shareholders, primarily of Athabascan, Southeast Indian, Inupiat, Yup’ik, Alutiiq/Sugpiaq and Aleut/Unangax descent.