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Radio Starmaker Fund Annual Report
2012 / 2013
Radio Starmaker Fund Condensed Statements of Operations and Changes in Fund Balances
For the years ended August 31, 2013 and August 31, 2012 …continued
| Restricted Funds | ||||
|---|---|---|---|---|
| 2012 | ||||
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
||
| Revenue | ||||
| Contributions from CAB | - | 8,601,899 | 8,601,899 | |
| Interest | - | 280,197 | 280,197 | |
| Unrealized loss on investments | - | (11,630) | (11,630) | |
| - | 8,870,466 | 8,870,466 | ||
| Expenses | ||||
| Grants – net of unused and returned funding | - | 8,225,973 | 8,225,973 | |
| Amortization | 7,432 | - | 7,432 | |
| Bank service charges | - | 336 | 336 | |
| 7,432 | 8,226,309 | 8,233,741 | ||
| Excess (deficiency) of revenue over expenses | (7,432) | 644,157 | 636,725 | |
| Fund balances – Beginning of year | 18,287 | 11,286,905 | 11,305,192 | |
| Interfund transfers – Admin. Cost Allocation | 2,252 | (645,951) | (643,699) | |
| Fund balances – End of year | 13,107 | 11,285,111 | 11,298,218 | |