OSCA Annual General Meeting
Treasurer’s Report
Fiscal year ended August 31, 2004
Fiscal year 2004 ended in a surplus of $15,835.
- Total revenues increased by over $26,000 from the previous fiscal year, which was about equally related to adult and children’s programs.
- Membership income increased by about $600 over the previous year.
- Grant income was down slightly from 2003 at $13,300.
- Children’s program expenses remained about the same as 2003, while adult program expenses increased by about 27% due to higher wages paid to instructors and higher costs of supplies. This increase in expenses was largely offset by increases in revenues.
- Administration expenses decreased by $2,755.
- Committee expenses decreased by over $5,000.
Overall OSCA’s financial position and balance sheet are sound:
- The bank balance at the end of the year includes the proceeds of a guaranteed investment certificate (approximately $20,000) that became due during the fiscal year and will be reinvested.
- Most of the $8.600 shown in receivables relates to grants that have been reported as income but not yet received.
- OSCA has designated about $6,700 for the use of ECOS and $6,800 for the use of OSWATCH as special purpose funds.
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Ottawa South Community Association |
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Income Statement |
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Fiscal Year Ended August 31 |
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2003 |
2004 |
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Revenue |
(restated) |
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Children's programs |
225,119 |
237,733 |
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Adult programs |
72,452 |
87,689 |
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Total programs |
297,571 |
325,422 |
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Interest |
2,750 |
718 |
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Memberships |
2,991 |
3,582 |
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Community service fees |
29,786 |
32,608 |
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Special events/fund raising |
6,353 |
5,229 |
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Miscellaneous and grants |
14,902 |
13,300 |
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Total other |
56,783 |
55,437 |
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Total Revenue |
354,354 |
380,859 |
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Expenses |
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Children's programs |
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Remuneration |
155,779 |
155,114 |
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Supplies, transportation, other |
76,400 |
75,915 |
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Total children's programs |
232,179 |
231,029 |
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Adult programs |
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Remuneration |
45,872 |
58,713 |
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Supplies, other |
20,858 |
26,201 |
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Total adult programs |
66,729 |
84,918 |
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Total program expenses |
298,909 |
315,946 |
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Administration |
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Remuneration |
17,451 |
16,275 |
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Office supplies, insurance, other |
26,128 |
24,550 |
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Total administration |
43,580 |
40,825 |
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Committees |
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OSWATCH |
150 |
118 |
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Ecos |
0 |
250 |
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Programs |
0 |
0 |
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Special events |
9,340 |
3,610 |
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Website |
774 |
727 |
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Membership |
0 |
200 |
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Total committees |
10,264 |
4,905 |
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Amortization and depreciation |
2,597 |
3,346 |
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Total expenses |
355,349 |
365,023 |
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Surplus / (Deficit) |
(996) |
15,835 |
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Ottawa South Community Association |
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Balance Sheet |
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August 31, 2004 |
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ASSETS |
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Current Assets |
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TD Bank |
23,232 |
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Investments |
20,823 |
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Total Cash |
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Accounts Receivable |
8,600 |
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Prepaid Expenses |
2,071 |
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Total Current Assets |
54,726 |
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Total Fixed Assets |
12,820 |
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TOTAL ASSETS |
67,546 |
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LIABILITIES |
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Current Liabilities and Special Purpose Funds |
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Accounts payable |
0 |
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GST, payroll taxes owing (refund) |
(5,260) |
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Ecos Fund |
6,771 |
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Oswatch |
6,846 |
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Other |
246 |
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Total Current Liabilities |
8,603 |
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Long Term Liabilities |
0 |
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TOTAL LIABILITIES |
8,553 |
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EQUITY |
58,993 |
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LIABILITIES AND EQUITY |
67,546 |