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Radio Starmaker Fund Annual Report
2016 / 2017
Radio Starmaker Fund Condensed Statement of Operations and Changes in Fund Balances
For the year ended August 31, 2017
| Restricted Funds 2017 | ||||
|---|---|---|---|---|
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
||
| Revenue | ||||
| Contributions from CAB | - | 6,730,563 | 6,730,563 | |
| Interest | - | 2,050 | 2,050 | |
| Investment income | - | 1,187,755 | 1,187,755 | |
| Unrealized loss on investments | - | (648,560) | (648,560) | |
| - | 7,271,808 | 7,271,808 | ||
| Expenses | ||||
| Grants – net of unused and returned funding | - | 8,127,764 | 8,127,764 | |
| Amortization | 7,044 | - | 7,044 | |
| 7,044 | 8,127,764 | 8,134,808 | ||
| Excess (deficiency) of revenue over expenses for the year | (7,044) | (855,956) | (863,000) | |
| Fund balances – Beginning of year | 13,848 | 21,292,086 | 21,305,934 | |
| Interfund transfers | 6,317 | (966,666) | (960,349) | |
| Fund balances – End of year | 13,121 | 19,469,464 | 19,482,585 | |