Have Questions? Contact Us
Radio Starmaker Fund Annual Report
2018 / 2019
Radio Starmaker Fund Condensed Statement of Operations and Changes in Fund Balances
For the year ended August 31, 2019
| Restricted Funds 2018 | ||||
|---|---|---|---|---|
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
||
| Revenue | ||||
| Contributions from Canadian Association of Broadcasters | - | 7,368,389 | 7,368,389 | |
| Interest | - | 5,949 | 5,949 | |
| Investment income | - | 809,483 | 809,483 | |
| Increase in unrealized gain on investments | - | 92,774 | 92,774 | |
| - | 8,276,595 | 8,276,595 | ||
| Expenses | ||||
| Grants – net of unused and returned funding | - | 5,997,807 | 5,997,807 | |
| Amortization | 7,282 | - | 7,282 | |
| 7,282 | 5,997,807 | 6,005,089 | ||
| (Deficiency) excess of revenue over expenses for the year | (7,282) | 2,278,788 | 2,271,506 | |
| Fund balances – Beginning of year | 13,121 | 19,469,464 | 19,482,585 | |
| Interfund transfers | 3,576 | (1,167,359) | (1,163,783) | |
| Fund balances – End of year | 9,415 | 20,580,893 | 20,590,308 | |