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Radio Starmaker Fund Annual Report
2021 / 2022
Radio Starmaker Fund Condensed Statement of Operations and Changes in Fund Balances
For the year ended August 31, 2022
| Restricted Funds 2022 | |||
|---|---|---|---|
| Capital Asset Fund $ |
Grant Fund $ |
Total $ |
|
| Revenues | |||
| Contributions from Canadian Association of Broadcasters | - | 1,672,287 | 1,672,287 |
| Interest | - | 3,397 | 3,397 |
| Investment income | - | 960,928 | 960,928 |
| Unrealized gain (loss) on investments | - | (3,080,713) | (3,080,713) |
| - | (444,101) | (444,101) | |
| Expenses | |||
| Grants – net of unused and returned funding | - | 7,788,677 | 7,788,677 |
| Amortization | 1,890 | - | 1,890 |
| 1,890 | 7,788,677 | 7,790,567 | |
| Deficiency of revenues over expenses for the year | (1,890) | (8,232,778) | (8,234,668) |
| Fund balances – Beginning of year | 4,627 | 21,507,647 | 21,512,274 |
| Interfund transfers | - | (623,757) | (623,757) |
| Fund balances – End of year | 2,737 | 12,651,112 | 12,653,849 |