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2010
|
11 FINANCIAL STATEMENTS
V
VANCOUVER ART GALLERY ASSOCIATION
STATEMENT OF CHANGES IN NET ASSETS
Year ended June 30, 2011, with comparative figures for 2010
GENERAL ACQUISITIONS BUILDING
TOTAL
TOTAL
FUND
FUND
FUND
2011
2010
(restated—note 3)
Balance, beginning of year:
As previously reported
$ 1,218,949 $ 360,106 $ 724,730 $ 2,303,785 $ 1,977,111
Restatement for changes
in grant revenue (note 3)
(786,720)
(786,720)
(541,875)
As restated
432,229
724,730
1,517,065
1,435,236
Excess (deficiency) of
revenue over expenses
(152,500)
(148,909)
(301,409)
81,829
Interfund transfer (note 7(c))
(733,580)
733,580
Balance, end of year
$ (453,851) $ 211,197 $ 1,458,310 $ 1,215,656 $ 1,517,065
See accompanying notes to financial statements.