2010

Documentation

Notes: 
Prior to 2011, Contributions & Grants were listed as two separate line items in the Financial Review, they are presented below as consolidated to reflect the most recent format for financial information and to allow for adequate comparison.

Statement of Financial Position

Assets

Current Assets
Cash: 
19,391
Accounts Receivable: 
12,522
Prepaid expenses and deposits: 
2,564
Total current assets: 
34,477
Capital
Fixed Assets at Cost: 
808,817
Accumulated Amortisation: 
-140,855
Total capital: 
667,962
Total assets: 
702,439

Liabilities

Current Liabilities
Accounts payable and accrued charges: 
3,898
Short term loans: 
0
Loans from predecessor trustees: 
70
Current portion of long-term debt: 
17,404
Total current liabilities: 
21,372
Long-term liabilities
Long Term Debt: 
402,890
Deferred Contributions Related to Capital Assets: 
157,743
Total liabilities: 
582,005

Net Assets

Net Assets invested in capital assets: 
89,925
Unrestricted net assets: 
30,509

Statement of Changes in Net Assets

Balance, Beginning of Year: 
113,739
Excess of revenue over expenses: 
6,695
Balance, End of Year: 
120,434

Statement of Operations

Revenue
Amortization of deferred contributions: 
6,053
Bad debt recovery: 
0
Contributions & Grants: 
16,319
Eastern elevator settlement: 
0
Interest income: 
285
Student memberships: 
138,565
Special events (net): 
2,720
Rental income: 
42,390
Workshop fees: 
0
Total Revenue: 
206,332
Expenses
Advertising and promotion: 
354
Amortization: 
22,123
Bank charges and interest: 
240
Bad debts: 
0
Hospitality and reception: 
126
Insurance: 
16,286
Long-term interest: 
31,008
Municipal taxes: 
6,791
Office and general: 
3,391
Professional fees: 
5,294
Repairs and maintenance: 
34,362
Taxes and licenses: 
0
Telephone: 
2,707
Utilities: 
14,012
Total Expenses: 
199,637
Excess of Revenue over Expenses: 
6,695