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Radio Starmaker Fund Annual Report
2015 / 2016
Radio Starmaker Fund Condensed Statement of Operations and Changes in Fund Balances
For the year ended August 31, 2016
| Restricted Funds 2016 | ||||
|---|---|---|---|---|
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
||
| Revenue | ||||
| Contributions from CAB | - | 6,746,326 | 6,746,326 | |
| Interest | - | 4,518 | 4,518 | |
| Investment income | - | 1,330,661 | 1,330,661 | |
| Unrealized loss on investments | - | (103,938) | (103,938) | |
| - | 7,977,567 | 7,977,567 | ||
| Expenses | ||||
| Grants – net of unused and returned funding | - | 7,921,273 | 7,921,273 | |
| Bank service charges | - | 15 | 15 | |
| Amortization | 6,076 | - | 6,076 | |
| 6,076 | 7,921,288 | 7,927,364 | ||
| Excess (deficiency) of revenue over expenses for the year | (6,076) | 56,279 | 50,203 | |
| Fund balances – Beginning of year | 10,857 | 21,835,807 | 21,846,664 | |
| Interfund transfers | 9,067 | (600,000) | (590,933) | |
| Fund balances – End of year | 13,848 | 21,292,086 | 21,305,934 | |