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CRR Financial Report For 2020 AGM
Calgary RoadRunners (CRR) 2020 Annual General Meeting Financial Report
Income Statement
- Net income for the year ended September 30, 2020 (F2020) is $2,543.94 as compared to a net loss of $2,967.30 for the year ended September 30, 2019 (F2019).
- Membership income for F2020 of $3,490.00 (F2019 – $3,182.50) was derived from:
| Membership type | 2020 | 2019 |
| Family | 21 | 17 |
| Single | 62 | 63 |
| Student and youth | 5 | 2 |
| Senior | 16 | 19 |
| Total | 104 | 101 |
- Total Event Income: total event income decreased from $52,589.35 for F2019 to $44,756.06 for F2020. The decrease mainly relates to the cancelation of the Calgary Women’s Run.
- Total Event Expense: the total event expenses for F2019 amounted to $37,775.63 as compared to $32,138.40 for F2020.
- Interest income of $221.53 relates to the interest earned on the GIC re-invested annually.
- Miscellaneous income of $3,036.00 mainly relates to the $3,000.00 donation from the Moose Mountain Trail Race. This donation was used to buy gift cards from Gord’s Running Store, Strides Running Store, and The Tech Shop.
- Charitable expenses:
| Charity | F2020 | F2019 | 2018 |
|
Canadian Diabetes Association
(50% of the net race proceeds from the St. Patrick’s Day race) |
6,830.88 | 4,951.95 | 3,241.43 |
| Silver Linings Foundation | – | 4,491.13 | 6,699.36 |
| Total | 6,830.88 | 9,443.08 | 9,940.79 |
- Reconciliation Discrepancies expense (income): for F2020, reconciliation discrepancies of $(10.07) mainly include the following adjustments:
- To cancel stale-dated cheques relating to F2017 and F2016 amounting to $(39.10).
- Failure to accrue or record F2019 income relating insurance coverage for the Moose Mountain Trail Race 2019: $(149.00).
- Discrepancy in the accrual for the River Park XC race $177.86.
- Other events: for the Streak and Age Graded Races during the summer, there were draw prizes for a total of $1,198.00.
- Relay sponsorship expenses increased from $0 in F2019 to $505.13 in F2020. Two teams were sponsored for the Banff Ekiden in October 2019.
Balance sheet
- Cash: as at September 30, 2020, cash (including GICs) of $57,264.93 as compared with $57,878.59 for 2019.
- Inventory Asset: increased from $3,256.75 for September 30, 2019 to $4,829.75 for September 30, 2020. This asset increased because the remaining gift cards of $2,400.00 were put into the inventory.
- Accounts receivable (AR): as at September 30, 2020 the AR relates to: receivables for inventory sales of $189.00
- Accounts Payable (AP): as at September 30, 2020 is the $80 worth of ice cream gift cards for kids running the streak during the summer.
- Youth Development Fund: This fund was used to pay for the ice cream gift cards for kids and is now reduced to $3,526.57.