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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.