2005

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: 
10,529
Accounts Receivable: 
1,878
Prepaid expenses and deposits: 
7,572
Total current assets: 
19,979
Capital
Fixed Assets at Cost: 
740,831
Accumulated Amortisation: 
-24,356
Total capital: 
716,475
Total assets: 
736,454

Liabilities

Current Liabilities
Accounts payable and accrued charges: 
2,257
Short term loans: 
0
Loans from predecessor trustees: 
70
Current portion of long-term debt: 
48,262
Total current liabilities: 
50,589
Long-term liabilities
Long Term Debt: 
560,263
Deferred Contributions Related to Capital Assets: 
71,512
Total liabilities: 
682,364

Net Assets

Net Assets invested in capital assets: 
36,438
Unrestricted net assets: 
17,652

Statement of Changes in Net Assets

Balance, Beginning of Year: 
37,933
Excess of revenue over expenses: 
16,157
Balance, End of Year: 
54,090

Statement of Operations

Revenue
Amortization of deferred contributions: 
2,904
Bad debt recovery: 
0
Contributions & Grants: 
7,122
Eastern elevator settlement: 
0
Interest income: 
638
Student memberships: 
132,353
Special events (net): 
1,761
Rental income: 
37,681
Workshop fees: 
0
Total Revenue: 
182,459
Expenses
Advertising and promotion: 
198
Amortization: 
24,357
Bank charges and interest: 
51
Bad debts: 
0
Hospitality and reception: 
1,100
Insurance: 
20,447
Long-term interest: 
40,667
Municipal taxes: 
2,450
Office and general: 
10,136
Professional fees: 
2,400
Repairs and maintenance: 
20,931
Taxes and licenses: 
0
Telephone: 
3,013
Utilities: 
19,001
Total Expenses: 
166,301
Excess of Revenue over Expenses: 
16,158