2011 - 12 Annual Report Enactus Canada
PRODUCTION AND LIVE MANAGEMENT
INC.
June 30
2012
2011
$
$
Year ended June 30
2012
2011
$
$
w
Balance, beginning of year
ASSETS Current
Excess (deficiency) of revenue over expenses for the year
Cash
348,122
199,827
Accounts receivable [note 3]
307,249
369,351
20,197
45,922
675,568
615,100
Long-term deposits
10,834
10,581
Capital assets [note 4]
17,336
21,316
703,738
646,997
260,724
111,463
59,700
157,200
320,424
268,663
383,314
378,334
703,738
646,997
Prepaid expenses
LIABILITIES Current Accounts payable and accrued liabilities Deferred revenue [note 5]
NET ASSETS Unrestricted
Balance, end of year
378,334
463,520
4,980
(85,186)
383,314
378,334
Year ended June 30
2012
2011
$
$
Revenue 902,291
Foundations
247,157
151,930
Individuals
137,396
101,009
Government [note 6]
31,485
30,480
Administration fees and other
22,640
6,901
1,491,906
1,192,611
Excess (deficiency) of revenue over expenses for the year
Amortization
$
890,169
Operations and administration
303,382
331,653
Development
144,257
55,975
1,486,926
1,277,797
4,980
(85,186)
4,980
(85,186)
6,767
3,444
11,747
(81,742)
62,102
(1,145)
Changes in non-cash working capital items 25,725
(14,533)
Increase (decrease) in accounts payable and accrued liabilities
149,261
(47,609)
Increase (decrease) in deferred revenue
(97,500)
117,500
151,335
(27,529)
(2,787)
(21,378)
(253)
170,242
(3,040)
148,864
Net change in cash during the year
148,295
121,335
Cash, beginning of year
199,827
78,492
Cash, end of year
348,122
199,827
(Increase) decrease in prepaid expenses 1,039,287
Excess (deficiency) of revenue over expenses for the year
2011
$
Add item not involving cash -
(Increase) decrease in accounts receivable Expenses Program
2012
OPERATING ACTIVITIES 1,053,228
Corporate
Year ended June 30
INVESTING ACTIVITIES Purchase of capital assets Net redemption (purchase) of term deposits
of $206,331, all of which has been reported as current or deferred revenue.
6. GRANTS
4.CAPITAL ASSETS
The organization has received contributions from a regional federal government agency ($31,485) for the purpose of funding specific program activities. The organization has complied with all conditions and requirements of the contribution program agreement and no repayment is anticipated.
Cost
Accumulated
2012
2011
$
$
$
$ Leasehold improvements Computer equipment
Net Book Value
Amortization
20,944
5,266
15,678
18,646
8,294
6,636
1,658
2,670
29,238
11,902
17,336
21,316
7. COMMITMENTS The organization is committed under an operating lease for rental of premises to June 1, 2016. Future minimum annual commitments, including an estimate of the proportionate share of building operating costs, are as follows: $
5. DEFERRED REVENUE
2013
34,275
Deferred revenue represents externally restricted operating funding received or pledged in the current year that relates to future years.
2014
34,275
2015
34,275
2016
31,418
2012
2011
$
$
134,243
The organization is also committed to its share of utility costs. Balance, beginning of year
157,200
39,700
(107,500)
(7,500)
Add: amounts received or pledged relating to future years
10,000
125,000
Balance, end of year
59,700
157,200
Less: amount recognized as revenue in the year
8. REVOLVING DEMAND FACILITY The organization has a revolving demand facility to a maximum of $100,000. The revolving demand facility bears interest at a Canadian chartered bank’s prime
Enactus Canada 266 King Street West, Suite 403 Toronto, ON M5V 1H8 1 800 766 8169 enactus.ca