2009

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: 
35,635
Accounts Receivable: 
9,322
Prepaid expenses and deposits: 
2,936
Total current assets: 
47,893
Capital
Fixed Assets at Cost: 
782,903
Accumulated Amortisation: 
-118,731
Total capital: 
664,172
Total assets: 
712,065

Liabilities

Current Liabilities
Accounts payable and accrued charges: 
4,093
Short term loans: 
0
Loans from predecessor trustees: 
70
Current portion of long-term debt: 
16,591
Total current liabilities: 
20,754
Long-term liabilities
Long Term Debt: 
413,777
Deferred Contributions Related to Capital Assets: 
163,796
Total liabilities: 
598,327

Net Assets

Net Assets invested in capital assets: 
70,008
Unrestricted net assets: 
43,730

Statement of Changes in Net Assets

Balance, Beginning of Year: 
112,147
Excess of revenue over expenses: 
1,591
Balance, End of Year: 
113,738

Statement of Operations

Revenue
Amortization of deferred contributions: 
5,304
Bad debt recovery: 
0
Contributions & Grants: 
9,308
Eastern elevator settlement: 
0
Interest income: 
1,023
Student memberships: 
137,286
Special events (net): 
3,530
Rental income: 
35,185
Workshop fees: 
0
Total Revenue: 
191,636
Expenses
Advertising and promotion: 
449
Amortization: 
22,313
Bank charges and interest: 
197
Bad debts: 
415
Hospitality and reception: 
490
Insurance: 
15,292
Long-term interest: 
32,197
Municipal taxes: 
6,375
Office and general: 
5,219
Professional fees: 
2,471
Repairs and maintenance: 
26,030
Taxes and licenses: 
0
Telephone: 
2,367
Utilities: 
20,008
Total Expenses: 
190,045
Excess of Revenue over Expenses: 
1,591