2006

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: 
17,377
Accounts Receivable: 
3,870
Prepaid expenses and deposits: 
9,293
Total current assets: 
30,540
Capital
Fixed Assets at Cost: 
756,684
Accumulated Amortisation: 
-48,845
Total capital: 
707,839
Total assets: 
738,379

Liabilities

Current Liabilities
Accounts payable and accrued charges: 
2,278
Short term loans: 
25,000
Loans from predecessor trustees: 
70
Current portion of long-term debt: 
30,422
Total current liabilities: 
57,770
Long-term liabilities
Long Term Debt: 
525,954
Deferred Contributions Related to Capital Assets: 
82,591
Total liabilities: 
666,315

Net Assets

Net Assets invested in capital assets: 
68,872
Unrestricted net assets: 
3,192

Statement of Changes in Net Assets

Balance, Beginning of Year: 
54,090
Excess of revenue over expenses: 
17,974
Balance, End of Year: 
72,064

Statement of Operations

Revenue
Amortization of deferred contributions: 
3,441
Bad debt recovery: 
0
Contributions & Grants: 
11,715
Eastern elevator settlement: 
0
Interest income: 
1,159
Student memberships: 
141,252
Special events (net): 
1,382
Rental income: 
37,362
Workshop fees: 
0
Total Revenue: 
196,311
Expenses
Advertising and promotion: 
355
Amortization: 
24,489
Bank charges and interest: 
575
Bad debts: 
0
Hospitality and reception: 
1,819
Insurance: 
15,585
Long-term interest: 
39,188
Municipal taxes: 
5,773
Office and general: 
6,312
Professional fees: 
2,875
Repairs and maintenance: 
10,457
Taxes and licenses: 
0
Telephone: 
2,378
Utilities: 
19,213
Total Expenses: 
178,337
Excess of Revenue over Expenses: 
17,974