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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
| Restricted Funds | ||||
|---|---|---|---|---|
| 2013 | ||||
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
||
| Revenue | ||||
| Contributions from CAB | - | 9,236,869 | 9,236,869 | |
| Interest | - | 293,147 | 293,147 | |
| Gain on sale of investments | - | 156,295 | 156,295 | |
| Unrealized gain on investments | - | 140,275 | 140,275 | |
| - | 9,826,586 | 9,826,586 | ||
| Expenses | ||||
| Grants – net of unused and returned funding | - | 6,830,407 | 6,830,407 | |
| Amortization | 7,388 | - | 7,388 | |
| Bank service charges | - | 361 | 361 | |
| 7,388 | 6,830,768 | 6,838,156 | ||
| Excess (deficiency) of revenue over expenses | (7,388) | 2,995,818 | 2,988,430 | |
| Fund balances – Beginning of year | 13,107 | 11,285,111 | 11,298,218 | |
| Interfund transfers – Admin. Cost Allocation | 8,637 | (665,329) | (656,692) | |
| Fund balances – end of year | 14,356 | 13,615,600 | 13,629,956 | |