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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 2020 | ||||
|---|---|---|---|---|
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
||
| Revenue | ||||
| Contributions from Canadian Association of Broadcasters | - | 6,503,712 | 6,503,712 | |
| Interest | - | 10,267 | 10,267 | |
| Investment income | - | 899,919 | 899,919 | |
| Decrease in unrealized gain on investments | - | (500,340) | (500,340) | |
| - | 6,913,558 | 6,913,558 | ||
| Expenses | ||||
| Grants – net of unused and returned funding | - | 7,372,043 | 7,372,043 | |
| Amortization | 3,393 | - | 3,393 | |
| 3,393 | 7,372,043 | 7,375,436 | ||
| (Deficiency) excess of revenue over expenses for the year | (3,393) | (458,485) | (461,878) | |
| Fund balances – Beginning of year | 4,461 | 22,417,921 | 22,422,382 | |
| Interfund transfers | 572 | (664,612) | (664,040) | |
| Fund balances – End of year | 1,640 | 21,294,824 | 21,296,464 | |