Have Questions? Contact Us
Radio Starmaker Fund Annual Report
2019 / 2020
Radio Starmaker Fund Condensed Statement of Operations and Changes in Fund Balances
For the year ended August 31, 2020
| Restricted Funds 2019 | ||||
|---|---|---|---|---|
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
||
| Revenue | ||||
| Contributions from Canadian Association of Broadcasters | - | 9,367,696 | 9,367,696 | |
| Interest | - | 14,864 | 14,864 | |
| Investment income | - | 818,507 | 818,507 | |
| Increase in unrealized gain on investments | - | 50,143 | 50,143 | |
| - | 10,251,210 | 10,251,210 | ||
| Expenses | ||||
| Grants – net of unused and returned funding | - | 7,549,182 | 7,549,182 | |
| Amortization | 5,292 | - | 5,292 | |
| 5,292 | 7,549,182 | 7,554,474 | ||
| (Deficiency) excess of revenue over expenses for the year | (5,292) | 2,702,028 | 2,696,736 | |
| Fund balances – Beginning of year | 9,415 | 20,580,893 | 20,590,308 | |
| Interfund transfers | 338 | (865,000) | (864,662) | |
| Fund balances – End of year | 4,461 | 22,417,921 | 22,422,382 | |