D r a f t f o r d i s c u s s i o n o n l y 11 CANADIAN SCHOOL BOARDS ASSOCIATIONS L'ASSOCIATION CANADIENNE DES COMMISSIONS/CONSEILS SCOLAIRES NOTES TO FINANCIAL STATEMENTS MARCH 31, 2019 5. Capital assets 2019 2018 Accumulated Net book Net book Cost amortization value value $ $ $ $ Office furniture and equipment - - - 1,621 Computer hardware 10,060 7,334 2,726 3,583 10,060 7,334 2,726 5,204 6. Related party transactions The following table presents a summary of the related party transactions that occurred during the year: 2019 2018 $ $ Membership fees received from associations with board members in common 217,350 197,000 Executive stipend paid to board members 10,000 10,000 These transactions are in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties. 7. Financial instruments Risks and concentration The Association is exposed to various risks through its financial instruments, without being exposed to concentrations of risk. The following analysis provides a measure of the Association's risk exposure at the balance sheet date of March 31, 2019. Liquidity risk Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The Association is exposed to this risk mainly in respect of accounts payable and accrued liabilities.