2011-12 Enactus Canada Annual Report

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