2004

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: 
26,986
Accounts Receivable: 
0
Prepaid expenses and deposits: 
8,230
Total current assets: 
35,216
Capital
Fixed Assets at Cost: 
710,100
Accumulated Amortisation: 
0
Total capital: 
710,100
Total assets: 
745,316

Liabilities

Current Liabilities
Accounts payable and accrued charges: 
19,600
Short term loans: 
0
Loans from predecessor trustees: 
70
Current portion of long-term debt: 
49,636
Total current liabilities: 
69,306
Long-term liabilities
Long Term Debt: 
638,078
Deferred Contributions Related to Capital Assets: 
0
Total liabilities: 
707,384

Net Assets

Net Assets invested in capital assets: 
22,386
Unrestricted net assets: 
15,546

Statement of Changes in Net Assets

Balance, Beginning of Year: 
0
Excess of revenue over expenses: 
37,932
Balance, End of Year: 
37,932

Statement of Operations

Revenue
Amortization of deferred contributions: 
0
Bad debt recovery: 
0
Contributions & Grants: 
1,877
Eastern elevator settlement: 
0
Interest income: 
451
Student memberships: 
120,695
Special events (net): 
-35
Rental income: 
2,004
Workshop fees: 
0
Total Revenue: 
124,992
Expenses
Advertising and promotion: 
886
Amortization: 
0
Bank charges and interest: 
212
Bad debts: 
0
Hospitality and reception: 
1,765
Insurance: 
11,058
Long-term interest: 
21,635
Municipal taxes: 
4,318
Office and general: 
1,493
Professional fees: 
5,432
Repairs and maintenance: 
4,614
Taxes and licenses: 
0
Telephone: 
1,698
Utilities: 
5,679
Total Expenses: 
87,060
Excess of Revenue over Expenses: 
37,932