2008

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: 
17,838
Accounts Receivable: 
2,004
Prepaid expenses and deposits: 
7,509
Total current assets: 
27,351
Capital
Fixed Assets at Cost: 
769,983
Accumulated Amortisation: 
-96,418
Total capital: 
673,565
Total assets: 
700,916

Liabilities

Current Liabilities
Accounts payable and accrued charges: 
5,807
Short term loans: 
0
Loans from predecessor trustees: 
70
Current portion of long-term debt: 
25,183
Total current liabilities: 
31,060
Long-term liabilities
Long Term Debt: 
430,310
Deferred Contributions Related to Capital Assets: 
127,400
Total liabilities: 
588,770

Net Assets

Net Assets invested in capital assets: 
90,672
Unrestricted net assets: 
21,474

Statement of Changes in Net Assets

Balance, Beginning of Year: 
93,634
Excess of revenue over expenses: 
18,512
Balance, End of Year: 
112,146

Statement of Operations

Revenue
Amortization of deferred contributions: 
5,531
Bad debt recovery: 
0
Contributions & Grants: 
12,299
Eastern elevator settlement: 
0
Interest income: 
1,269
Student memberships: 
128,360
Special events (net): 
4,551
Rental income: 
41,495
Workshop fees: 
0
Total Revenue: 
193,505
Expenses
Advertising and promotion: 
140
Amortization: 
23,364
Bank charges and interest: 
130
Bad debts: 
3,829
Hospitality and reception: 
315
Insurance: 
18,982
Long-term interest: 
35,234
Municipal taxes: 
5,971
Office and general: 
4,244
Professional fees: 
1,785
Repairs and maintenance: 
6,926
Taxes and licenses: 
0
Telephone: 
3,293
Utilities: 
17,420
Total Expenses: 
174,993
Excess of Revenue over Expenses: 
18,512