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Radio Starmaker Fund Annual Report
2020 / 2021
Radio Starmaker Fund Condensed Statement of Operations and Changes in Fund Balances
For the year ended August 31, 2021
| Restricted Funds 2021 | |||
|---|---|---|---|
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
|
| Revenue | |||
| Contributions from Canadian Association of Broadcasters | - | 5,675,692 | 5,675,692 |
| Interest | - | 3,623 | 3,623 |
| Investment income | - | 1,021,708 | 1,021,708 |
| Increase in unrealized gain on investments | - | 1,642,381 | 1,642,381 |
| - | 8,343,404 | 8,343,404 | |
| Expenses | |||
| Grants – net of unused and returned funding | - | 7,262,848 | 7,262,848 |
| Amortization | 2,096 | - | 2,096 |
| 2,096 | 7,262,848 | 7,264,944 | |
| (Deficiency) excess of revenue over expenses for the year | (2,096) | 1,080,556 | 1,078,460 |
| Fund balances – Beginning of year | 1,640 | 21,294,824 | 21,296,464 |
| Interfund transfers | 5,083 | (867,733) | (862,650) |
| Fund balances – End of year | 4,627 | 21,507,647 | 21,512,274 |