ANNUAL GENERAL MEETING

September 19, 2018

The Annual General Meeting will be held at Fredericton Br. # 4 on October 13, 2018 at 11:00 am. All members  paid for 2018 are welcome to attend.

STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2017

ASSETS 

General Fund Poppy Fund Community Service Fund Charitable Foundation Total 2017 Total 2016
CURRENT
Cash

$        73,300

$      103,655

$          12,455

$        48,997

$      238,407

$      221,864

Short term investments (Note 3)

25,000

35,000

94,000

130,642

284,642

194,000

Accounts receivable

117

88,551

-

1,602

90,270

126,539

Accrued interest receivable

2,236

73

567

5,689

8,565

5,800

Grants receivable

-

-

-

1,850

1,850

6,246

Prepaid expenses

462

-

-

-

462

462

Inventory

          -        

          9,575

          -        

          -        

          9,575

          6,981

 

101,115             236,854             107,022             188,780                          633,771             561,892

 

INVESTMENTS (Note 3)                           125,000                -                        -                     325,000                                                                       450,000                475,642

 

EQUIPMENT (Note 4)

      240,974

          -        

          -        

          -        

      240,974

      257,887

$      467,089

$      236,854

$      107,022

$      513,780

$ 1,324,745

$ 1,295,421

 

PROPERTY, PLANT AND EQUIPMENT 

  

CURRENT

LIABILITIES
Accounts payable and accruals

$        18,341

$        26,824    $          -             $          -             $          45,165

$        73,420

Government remittances payable

3,171

31                -                        -                         3,202

4,532

Due to sport committees (Note 5)

11,579

-                        -                         -                          11,579

9,393

Deferred revenue (Note 6)

54,256

-                        -                         -                          54,256

54,876

Inter-fund loans (Note 7)

       (13,112)

        18,920               -                       (5,808)             -               

          -        

        74,235

        45,775               -                       (5,808)             114,202

      142,221

FUND BALANCESInternally restricted (Note 8)  

168,931

 

-                        -                         -                          168,931

 

-

Unrestricted

      223,923

      191,079            107,022           519,588      1,041,612

   1,153,200

      392,854

      191,079            107,022           519,588      1,210,543

   1,153,200

$      467,089

$      236,854    $       107,022    $      513,780    $ 1,324,745

$ 1,295,421

 

STATEMENT OF OPERATIONS & CHANGES IN FUNDS FOR THE YEAR ENDED DECEMBER 2017

 

General Fund Poppy Fund Community Service Fund Charitable Foundation Total 2017 Total 2016
 BALANCE AT BEGINNING OF YEAR  

391,683

 

157,647

 

109,277

 

494,593

 

1,153,200

 

1,073,403

EXCESS (DEFICIENCY) OF REVENUE OVER EXPENSES  

          1,171

 

        33,432

 

         (2,255)

 

        24,995

 

        57,343

 

        79,797

BALANCE AT END OF YEAR

$      392,854

$      191,079

$      107,022

$      519,588

$ 1,210,543

$ 1,153,200

 

 STATEMENT OF OPERATIONS & CHANGES IN FUND BALANCES

FOR THE YEAR ENDED DECEMBER 2017

  General Fund Poppy Fund Community      Charitable Service Fund     Foundation Total 2017 Total 2016
 

SALES

 

$          -

 

$      382,331

 

$          -             $          -

 

$      382,331

 

$      372,353

COST OF GOODS SOLD

          -        

      279,448

          -                        -              279,448

      266,019

GROSS PROFIT

-

102,883

-                         - 102,883

106,334

OTHER REVENUE          
Per capita

127,020

-

-                         - 127,020

130,162

Branch assessment  

31,164

  31,164

28,523

Homeless Veteran assessment

-

29,893

-                         - 29,893

28,709

Donations

1,399

2,228

-                         2,025 5,652

2,669

Investment income

2,852

73

819                 7,676 11,420

7,015

Miscellaneous

2,245

735

-                         - 2,980

5,365

Wage recoveries

4,284

-

-                         - 4,284

-

Fenety marketing

          -        

          -        

          -                       88,883         88,883

        98,226

 

      137,800

      166,976

             819              98,584       404,179

      407,003

EXPENSES          
Personnel

56,183

-

-                         - 56,183

71,217

Office and administration

33,457

24                    824                      22 34,327

29,639

Property cost

8,426

-                         -                            739 9,165

7,691

Committees and conventions                                                                    21,649

8,387

-                         - 30,036

26,544

(Note 9)                                                     -

-

-                       34,194 34,194

27,850

Homeless Veteran program                          -

1,600

-                         - 1,600

1,940

Service Bureau (Note 10)

-

121,616

-                         - 121,616

114,472

Bursaries -                        -

-

10,000

10,000

10,000

Grants -                        -

-

17,692

17,692

1,005

Prizes -                         1,917

-

1,192

3,109

3,185

Donations -                        - 2,250 9,750

12,000

16,350

Amortization         16,914               -                       -                     -      

        16,914

        17,313

        136,629            133,544           3,074         73,589

      346,836

      327,206

EXCESS (DEFICIENCY) OF          
REVENUE OVER EXPENSES $          1,171    $        33,432 $         (2,255) $ 24,995                $

57,343

$        79,797

 

 

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