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Radio Starmaker Fund Annual Report
2014 / 2015
Radio Starmaker Fund Condensed Statement of Operations and Changes in Fund Balances
For the year ended August 31, 2015
| Restricted Funds 2015 | ||||
|---|---|---|---|---|
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
||
| Revenue | ||||
| Contributions from CAB | - | 11,617,553 | 11,617,553 | |
| Interest | - | 4,328 | 4,328 | |
| Investment income | - | 1,434,103 | 1,434,103 | |
| Unrealized loss on investments | - | (181,602) | (181,602) | |
| - | 12,874,382 | 12,874,382 | ||
| Expenses | ||||
| Grants – net of unused and returned funding | - | 7,486,156 | 7,486,156 | |
| Bank service charges | - | 441 | 441 | |
| Amortization | 9,692 | - | 9,692 | |
| 9,692 | 7,486,597 | 7,496,289 | ||
| Excess (deficiency) of revenue over expenses for the year | (9,692) | 5,387,785 | 5,378,093 | |
| Fund balances – Beginning of year | 7,384 | 17,140,213 | 17,147,597 | |
| Interfund transfers | 13,165 | (692,191) | (679,026) | |
| Fund balances – End of year | 10,857 | 21,835,807 | 21,846,664 | |