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Old Ottawa South Community Association

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AGM 2012: Treasurer's Report

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The Ottawa South Community Association operates and reports financial information under three separate entities:

  • OSCA, the main community association account;
  • A charitable organization that raises funds for community capital uses; and,
  • OSCAR, the association’s newspaper.

The financial results for each of these entities, for the fiscal year ended December 31, 2011, are discussed below.

OSCA:

Fiscal year 2011 produced a surplus of $123,053.

  • Total revenues were $635,655, the vast majority of which was generated through program fees. Most of the remainder of the revenue, $28,968 was generated through special events.
  • Expenses were $512,602, most of which related to program instructor remuneration and program supplies and expenses.

Overall OSCA’s financial position and balance sheet are sound.

  • Assets were $439,112 at the end of the fiscal year.
  • OSCA has designated $6,932 for the use of ECOS and $805 for the use of OSWATCH as special purpose funds.
  • Total reserve funds, consisting of accumulated surpluses from previous years, totaled $321,810.

 

Ottawa South Community Association

Income Statement

Fiscal Year Ended December 31, 2011

 

REVENUE

Program revenue

589,001

Special events revenue

28,968

Grants and other revenue

17,686

Total Revenue

635,655

EXPENSES

Instructor Fees

164,016

Supplies

103,260

Payroll expense

149, 696

Administration, committees, transportation, website

95,629

Total expenses

512,602

Surplus / (Deficit)

123,053

 

Ottawa South Community Association

Balance Sheet

December 31, 2011

 

ASSETS

Cash and investments

357,338

Prepaid Expenses and receivables

1,686

Fixed Assets

80,088

TOTAL ASSETS

439,112

LIABILITIES

Accounts payable, payroll taxes owing

108,616

Ecos

6,932

Oswatch

805

Other (including Garden Club)

950

TOTAL LIABILITIES

117,303

 

Reserve funds

 

321,810

TOTAL EQUITY

321,810

LIABILITIES AND EQUITY

439,112

 

Firehall Redevelopment Fund:

The charitable organization raised a total of $4,649, all from donations through the federal government’s workplace charitable campaign program.

Total equity at the end of December 31, 2011 was $9,031.

Firehall redevelopment Fund

Income Statement

Fiscal Year Ended December 31, 2011

 

REVENUE

Donations

4,649

Total Revenue

4,649

EXPENSES

Bank Charges

10

Total expenses

10

Surplus / (Deficit)

4,639

 

Firehall Redevelopment Fund

Balance Sheet

December 31, 2011

 

ASSETS

Cash and investments

9,031

TOTAL ASSETS

9,031

Liabilities

0

Equity

9,031

LIABILITIES AND EQUITY

9,031

Results for OSCAR:

OSCAR, the community newspaper, had revenues of $69,581 and expenses of $64,465 for a net income of $5,115.

 

 

Ottawa South Community Association Review

Income Statement

Fiscal Year Ended December 31, 2011

 

REVENUE

Sales - Advertising

69,581

TOTAL REVENUE

69,581

EXPENSES

Editor, Advertising manager, distribution manager

30,610

Printing Charges

27,508

General and administrative expenses

6,347

Total expenses

64,465

SURPLUS / (DEFICIT)

5,115

 

Ottawa South Community Association Review

Balance Sheet

December 31, 2011

 

Current Assets

Cash and Investments

40,057

Accounts Receivable

3,979

TOTAL ASSETS

44,048

Liabilities

1,926

Equity

42,110

LIABILITIES AND EQUITY

44,048

 

Prepared by:
Steve Mennill
Treasurer

May 1, 2012

Last modified on Tuesday, 05 February 2013 19:59

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