Future-Oriented Financial Statements for the Years Ending March 31, 2013 and March 31, 2014

The Office of the Registrar of the Supreme Court of Canada

Statement of Management Responsibility
Future-Oriented Statement of Financial Position
Future-Oriented Statement of Operations and Departmental Net Financial Position
Future-Oriented Statement of Change in Departmental Net Debt
Future-Oriented Statement of Cash Flows
Notes to Future-Oriented Financial Statements

Statement of Management Responsibility

Departmental management is responsible for these future-oriented financial statements, including responsibility for the appropriateness of the assumptions on which these statements are prepared. These statements are based on the best information available and assumptions adopted as at January 25, 2013 and reflect the plans described in the Report on Plans and Priorities.

 

Catherine Laforce, Chief Financial Officer
Ottawa, Canada
February 28, 2013

 

Roger Bilodeau, Q.C., Registrar
Ottawa, Canada
February 28, 2013

 

Future-Oriented Statement of Financial Position (Unaudited)

As at March 31
(in dollars)

	Estimated Results 2013	Planned Results 2014
Liabilities
Accounts payable and accrued liabilities ( note 6)	$1,573,438	$1,612,774
Vacation pay and compensatory leave	876,945	890,100
Employee future benefits ( note 7)	1,954,850	2,034,197
Other liabilities ( note 8)	2,198,977	2,291,366
Total net liabilities	6,604,210	6,828,437
Financial assets
Due from Consolidated Revenue Fund	3,471,238	3,540,663
Accounts receivable and advances ( note 9)	77,870	78,789
Total gross financial assets	3,549,108	3,619,452
Financial assets held on behalf of Government
Accounts receivable and advances ( note 9)	(24,199)	(24,484)
Total financial assets held on behalf of Government	(24,199)	(24,484)
Total net financial assets	3,524,909	3,594,968
Departmental net debt	3,079,301	3,233,469
Non-financial assets
Prepaid expenses	155,027	158,127
Tangible capital assets ( note 10)	1,070,143	737,295
Total non-financial assets	1,225,170	895,422
Departmental net financial position	$(1,854,131)	$(2,338,047)

Information for the year ended March 31, 2013 includes actual amounts from April 1, 2012 to January 17, 2013.

Contractual obligations (note 11)

The accompanying notes form an integral part of these future-oriented financial statements.

 

Catherine Laforce, Chief Financial Officer
Ottawa, Canada
February 28, 2013

 

Roger Bilodeau, Q.C., Registrar
Ottawa, Canada
February 28, 2013

Future-Oriented Statement of Operations and Departmental Net Financial Position (Unaudited)

For the Year Ended March 31
(in dollars)

	Estimated Results 2013	Planned Results 2014
Expenses
Court operations	$21,807,532	$21,925,239
Payments to the Judges	6,113,212	6,371,407
Internal services	14,537,527	14,716,684
Expenses incurred on behalf of Government	(1,339)	(1,394)
Total expenses	42,456,932	43,011,936
Revenues
Sale of information documents and other fees	133,948	139,350
Pension contribution revenues	45,707	39,521
Revenues earned on behalf of Government	(179,655)	(172,371)
Total revenues	-	6,500
Net cost of operations before government funding	42,456,932	43,005,436
Government funding
Net cash provided by Government	31,047,027	31,919,400
Change in due from Consolidated Revenue Fund	(1,256)	69,425
Services provided without charge by other government departments ( note 12)	10,229,646	10,532,695
Net cost of operations after government funding	1,181,515	483,916
Departmental net financial position - Beginning of year	(672,616)	(1,854,131)
Departmental net financial position - End of year	$(1,854,131)	$(2,338,047)

Information for the year ended March 31, 2013 includes actual amounts from April 1, 2012 to January 17, 2013.

Segmented information (note 13)

The accompanying notes form an integral part of these future-oriented financial statements.

Future-Oriented Statement of Change in Departmental Net Debt (Unaudited)

For the Year Ended March 31
(in dollars)

	Estimated Results 2013	Planned Results 2014
Net cost of operations after government funding	$1,181,515	$483,916
Change due to tangible capital assets
Acquisitions of tangible capital assets	51,588	70,000
Amortization of tangible capital assets	(1,246,107)	(402,848)
Proceeds from disposal of tangible capital assets	-	(6,500)
Net gain (loss) on disposal of tangible capital assets including adjustments	-	6,500
Total change due to tangible capital assets	(1,194,519)	(332,848)
Change due to prepaid expenses	5,522	3,100
Net increase (decrease) in departmental net debt	(7,482)	154,168
Departmental net debt - Beginning of year	3,086,783	3,079,301
Departmental net debt - End of year	$3,079,301	$3,233,469

Information for the year ended March 31, 2013 includes actual amounts from April 1, 2012 to January 17, 2013.

The accompanying notes form an integral part of these future-oriented financial statements.

Future-Oriented Statement of Cash Flows (Unaudited)

For the Year Ended March 31
(in dollars)

	Estimated Results 2013	Planned Results 2014
Operating Activities
Net cost of operations before government funding	$42,456,932	$43,005,436
Non-cash items:
Amortization of tangible capital assets	(1,246,107)	(402,848)
Gain (loss) on disposal of tangible capital assets	-	6,500
Services provided without charge from other government departments ( note 12)	(10,229,646)	(10,532,695)
Variations in Statement of Financial Position:
Increase (decrease) in accounts receivable and advances	1,216	634
Increase (decrease) in prepaid expenses	5,522	3,100
Decrease (increase) in accounts payable and accrued liabilities	(97,049)	(39,336)
Decrease (increase) in vacation pay and compensatory leave	20,439	(13,155)
Decrease (increase) in employee future benefits	186,203	(79,347)
Decrease (increase) in other liabilities	(102,071)	(92,389)
Cash used by operating activities	30,995,439	31,855,900
Capital investing activities
Acquisitions of tangible capital assets	51,588	70,000
Proceeds from disposal of tangible capital assets	-	(6,500)
Cash used by capital investing activities	51,588	63,500
Net Cash provided by Government of Canada	$31,047,027	$31,919,400

Information for the year ended March 31, 2013 includes actual amounts from April 1, 2012 to January 17, 2013.

The accompanying notes form an integral part of these future-oriented financial statements.

Notes to Future-Oriented Financial Statements (Unaudited)
For the Year Ending March 31

1. Authority and objectives

Created by an Act of Parliament in 1875, the Supreme Court of Canada is Canada's final court of appeal. It serves Canadians by deciding legal issues of public importance, thereby contributing to the development of all branches of law applicable within Canada. The independence of the Court, the quality of its work and the esteem in which it is held both in Canada and abroad contribute significantly as foundations for a secure, strong and democratic country founded on the Rule of Law. In accordance with the Supreme Court Act, the Supreme Court of Canada consists of the Chief Justice and the eight puisne judges. The Supreme Court of Canada is an important national institution, positioned at the pinnacle of the judicial branch of government in Canada.

The Office of the Registrar of the Supreme Court of Canada (Office) provides all necessary services and support for the Court to process, hear and decide cases. It also serves as the interface between litigants and the Court. The Office has a single strategic outcome: The administration of Canada's final court of appeal is effective and independent. This strategic outcome is further supported by three programs: Court Operations; Processing of payments to Judges of the Supreme Court of Canada pursuant to the Judges Act (Payments to the Judges); and Internal Services.

2. Methodology and significant assumptions

The future-oriented financial statements have been prepared on the basis of the government priorities and the plans of the Office as described in the Report on Plans and Priorities.

The information in the estimated results for fiscal year 2012-13 is based on actual results as at January 17, 2013 and forecasts for the remainder of the fiscal year. Estimated year end information for 2012-13 is used as the opening position for the 2013-14 planned results, and forecasts have been made for the planned results for the 2013-14 fiscal.

The main assumptions underlying the forecasts are as follows:

• The Office's activities will remain substantially the same as for the previous year. 
• Expenses and revenues, including the determination of amounts internal and external to the government, are based on historical experience. The general historical pattern is expected to continue.

These assumptions are adopted as at January 25, 2013.

3. Variations and changes to the forecast financial information

While every attempt has been made to forecast final results for the remainder of 2012-13 and for 2013-14, actual results achieved for both years are likely to vary from the forecast information presented, and this variation could be material.

In preparing these future-oriented financial statements, the Office has made estimates and assumptions concerning the future. These estimates and assumptions may differ from the subsequent actual results. Estimates and assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Factors that could lead to material differences between the future-oriented financial statements and the historical financial statements include:

• The timing and amounts of acquisitions and disposals of property, plant and equipment may affect gains/losses and amortization expense.
• Implementation of new collective agreements.
• Economic conditions may affect the amount of revenue earned.
• Further changes to the operating budget through additional new initiatives or technical adjustments later in the year.

Once the Report on Plans and Priorities is presented, the Office will not be updating the forecasts for any changes to appropriations or forecast financial information made in ensuing supplementary estimates. Variances will be explained in the Departmental Performance Report.

4. Summary of significant accounting policies

The future-oriented financial statements have been prepared using the Government's accounting policies stated below, which are based on Canadian public sector accounting standards. The presentation and results using the stated accounting policies do not result in any significant differences from Canadian public sector accounting standards.

Significant accounting policies are as follows:

1. Parliamentary authorities – The Office is financed by the Government of Canada through Parliamentary authorities. Financial reporting of authorities provided to the Office do not parallel financial reporting according to generally accepted accounting principles since authorities are primarily based on cash flow requirements. Consequently, items recognized in the Future-Oriented Statement of Operations and Departmental Net Financial Position and in the Future-Oriented Statement of Financial Position are not necessarily the same as those provided through authorities from Parliament. Note 5 provides a reconciliation between the bases of reporting.
2. Net Cash provided by Government – The Office operates within the Consolidated Revenue Fund (CRF), which is administered by the Receiver General for Canada. All cash received by the Office is deposited to the CRF, and all cash disbursements made by the Office are paid from the CRF. The net cash provided by Government is the difference between all cash receipts and all cash disbursements, including transactions between departments of the Government. 
3. Amounts due from or to the CRF are the result of timing differences at year-end between when a transaction affects authorities and when it is processed through the CRF. Amounts due from the CRF represent the net amount of cash that the Office is entitled to draw from the CRF without further authorities to discharge its liabilities.
4. Revenues: 
   • Sales and other revenues are accounted for in the period in which the underlying transaction or event that gave rise to the revenue takes place.
   • Revenues that are non-respendable are not available to discharge the Office's liabilities. While the Deputy Head is expected to maintain accounting control, he has no authority regarding the disposition of non-respendable revenues. As a result, non-respendable revenues are considered to be earned on behalf of the Government of Canada and are therefore presented in reduction of the Office's gross revenues.    
5. Expenses – Expenses are recorded on the accrual basis:
   • Vacation pay and compensatory leave are accrued as the benefits are earned by employees under their respective terms of employment.  
   • Services provided without charge from other government departments for accommodation, employer contributions to the health and dental insurance plans, workers' compensation, interpretation services and security services are recorded as operating expenses at their estimated cost.
6. Employee and federally appointed judges of the Supreme Court of Canada future benefits
   1. Employee pension benefits: Eligible employees participate in the Public Service Pension Plan, a multiemployer pension plan administered by the Government. The Office's contributions to the Plan are charged to expenses in the year incurred and represent its total departmental obligation to the Plan. The Office's responsibility with regard to the Plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada, as the Plan's sponsor.
   2. Employee severance benefits: Employees entitled to severance benefits under labor contracts or conditions of employment earn these benefits as services necessary to earn them are rendered. The obligation relating to the benefits earned by employees is calculated using information derived from the results of the actuarially determined liability for employee severance benefits for the Government as a whole.
   3. Federally appointed judges pension benefits:  Eligible federally appointed judges and their survivors are entitled to fully-indexed annuities providing that the judges meet minimum age and service requirements. The main benefits paid from this plan are recorded on a pay-as-you-go basis. They are included in the Future-Oriented Statement of Operations and Departmental Net Financial Position as a component of salaries and benefits, and the judges' contributions are credited to revenues. Contributions made by the Office and the judges pertaining to the portion of the plan that relates to indexation of benefits is recorded in a Supplementary Retirement Benefits Account, which is presented in the Future-Oriented Statement of Financial Position as part of Other liabilities, with additional details provided in note 8. The Office's contribution towards indexation is expensed at the time it is accrued in the Account in accordance with the legislation. The actuarial liability associated with the Judges' Pension Plan is recorded in the financial statements of the Government of Canada, the ultimate sponsor of the Plan.
7. Accounts receivable and advances are stated at the lower of cost and net recoverable value. A valuation allowance is recorded for accounts receivable and advances where recovery is considered uncertain.
8. Tangible capital assets – All tangible capital assets and leasehold improvements having an initial cost of $5,000 or more are recorded at their acquisition cost. The Office does not capitalize intangibles, works of art and historical treasures that have cultural, aesthetic or historical value, assets located on Indian reserves and museum collections.

Amortization of tangible capital assets is done on a straight-line basis over the estimated useful life of the asset as follows:

Asset Class	Amortization Period
Machinery and equipment	3 to 10 years
Computer equipment	3 to 10 years
Computer software	3 to 10 years
Office furniture and equipment	5 to 10 years
Motor vehicles	3 years
Leasehold improvements	5 years

Assets under construction are recorded in the applicable capital asset class in the year that they become available for use and are not amortized until they become available for use.

5. Parliamentary authorities

The Office receives most of its funding through annual parliamentary authorities. Items recognized in the Future-Oriented Statement of Operations and Departmental Net Financial Position and the Future-Oriented Statement of Financial Position in one year may be funded through parliamentary authorities in prior, current or future years. Accordingly, the Office has different net results of operations for the year on a government funding basis than on an accrual accounting basis. The differences are reconciled in the following tables:

(a) Authorities requested and planned
(in dollars)

	Estimated Results 2013	Planned Results 2014
Authorities requested and planned:
Vote 50 - Operating expenditures	$23,000,955	$21,902,736
Contributions to employee benefits plan	2,377,465	2,382,068
Judges' salaries, allowances and annuities	6,113,212	6,371,407
Proceeds from disposal of Crown Assets	937	6,500
Additional authorities anticipated	614,965	1,400,780
Less:
Authorities available for future years	-	(6,500)
Lapsed: Proceeds from disposal of Crown Assets	(937)	-
Forecast authorities available	$32,106,597	$32,056,991

Authorities presented reflect current forecasts of statutory items, approved initiatives included and expected to be included in Estimates documents and, when reasonable estimates can be made, estimates of amounts to be allocated from Treasury Board central votes.

(b) Reconciliation of net cost of operations to requested and planned authorities
(in dollars)

	Estimated Results 2013	Planned Results 2014
Net cost of operations before government funding	$42,456,932	$43,005,436
Adjustments for items affecting net cost of operations but not affecting authorities:
Amortization of tangible capital assets	(1,246,107)	(402,848)
Gain (loss) on disposal of tangible capital assets	-	6,500
Services provided without charge by other government departments	(10,229,646)	(10,532,695)
Decrease (increase) in vacation pay and compensatory leave	20,439	(13,155)
Decrease (increase) in employee future benefits	186,203	(79,347)
Total items affecting net cost of operations but not affecting authorities	31,187,821	31,983,891
Adjustments for items not affecting net cost of operations but affecting authorities:
Acquisitions of tangible capital assets	51,588	70,000
Increase (decrease) in prepaid expenses	5,522	3,100
Total items not affecting net cost of operations but affecting authorities	57,110	73,100
Forecast current year lapse	861,666
Forecast authorities available	$32,106,597	$32,056,991

6. Accounts payable and accrued liabilities

The following table presents details of the Office's accounts payable and accrued liabilities:
(in dollars)

	Estimated Results 2013	Planned Results 2014
Accounts payable to other government departments and agencies	$393,659	$403,501
Accounts payable to external parties	565,183	579,313
Total accounts payable	958,842	982,814
Accrued liabilities	614,596	629,960
Total accounts payable and accrued liabilities	$1,573,438	$1,612,774

7. Employee future benefits

A- Pension benefits

The Office's employees participate in the Public Service Pension Plan, which is sponsored and administered by the Government. Pension benefits accrue up to a maximum period of 35 years at a rate of 2 percent per year of pensionable service, times the average of the best five consecutive years of earnings. The benefits are integrated with Canada/Québec Pension Plans benefits and they are indexed to inflation.

Both the employees and the Office contribute to the cost of the Plan. The forecast expenses are $2,006,363 in 2012-13 and $2,090,361 in 2013-14, representing approximately 1.8 times the contributions by employees.

The Office's responsibility with regard to the Plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada, as the Plan's sponsor.

B- Severance benefits

The Office provides severance benefits to its employees based on eligibility, years of service and salary at termination of employment. These severance benefits are not pre-funded. Benefits will be paid from future authorities. Information about the severance benefits has been estimated at the date of these statements.

As part of collective agreement negotiations with certain employee groups, and changes to conditions of employment for executives and certain non-represented employees, the accumulation of severance benefits under the employee severance pay program ceased for these employees commencing in 2012. Employees subject to these changes have been given the option to be immediately paid the full or partial value of benefits earned to date or collect the full or remaining value of benefits on termination from the public service. These changes have been reflected in the calculation of the outstanding severance benefit obligation.

(in dollars)

	Estimated Results 2013	Planned Results 2014
Accrued benefit obligation, Beginning of year	$2,141,053	$1,954,850
Expense for the year	40,030	202,406
Benefits paid during the year	(226,233)	(123,059)
Accrued benefit obligation, End of year	$1,954,850	$2,034,197

8. Other liabilities

The following table presents details of the Office's other liabilities:
(in dollars)

	Estimated Results 2013	Planned Results 2014
Trust Account - Security Deposit
Liability, Beginning of year	$390,520	$390,207
Deposits	1,500	2,500
Interest	170	212
Reimbursements	(1,983)	(762)
Liability, End of year	390,207	392,157
Supplementary Retirement Benefit Account (SRBA)
Liability, Beginning of year	1,706,386	1,808,770
Deposits	64,494	53,999
Interest	37,890	36,440
Liability, End of year	1,808,770	1,899,209
Total other liabilities	$2,198,977	$2,291,366

Security deposit account was established to record security to the value of $500 deposited by an Appellant with the Registrar of the Supreme Court of Canada in accordance with paragraph 60(1)(b) of the Supreme Court Act. As per section 87 of the Rules of the Supreme Court of Canada, interest is paid on money deposited as security.

The SRBA records contributions made by Judges of the Supreme Court of Canada and the matching contributions made by the Employer in accordance with the SRBA Act and the Judges Act.

9. Accounts receivable and advances

The following table presents details of the Office's accounts receivable and advances balances:
(in dollars)

	Estimated Results 2013	Planned Results 2014
Receivables from other government departments and agencies	$46,874	$47,578
Receivables from external parties	16,869	17,122
Standing advances	16,650	16,650
Subtotal	80,393	81,350
Allowance for doubtful accounts on receivables from external parties	(2,523)	(2,561)
Gross accounts receivable	77,870	78,789
Accounts receivable held on behalf of Government	(24,199)	(24,484)
Net accounts receivable	$53,671	$54,305

10. Tangible capital assets

Cost
(in dollars)

Capital Asset Class	Opening Balance	Acquisitions	Adjustments	Disposals	Closing Balance
Machinery and equipment	$973,765	$ -	$ -	$ -	$973,765
Computer equipment	873,155	20,000	-	-	893,155
Computer software	767,701	-	-	-	767,701
Office furniture and equipment	1,856,596	-	-	-	1,856,596
Motor vehicles	162,021	30,000	-	(27,028)	164,993
Leasehold improvements	9,776,279	20,000	-	-	9,796,279
Assets under construction	18,367	-	-	-	18,367
Total	$14,427,884	$70,000	$ -	$(27,028)	$14,470,856

 

Accumulated Amortization
(in dollars)

Capital asset class	Opening Balance	Amortization	Adjustments	Disposals	Closing Balance
Machinery and equipment	$850,041	$37,508	$ -	$ -	$887,549
Computer equipment	817,033	36,810	-	-	853,843
Computer software	587,948	58,244	-	-	646,192
Office furniture and equipment	1,451,932	89,721	-	-	1,541,653
Motor vehicles	162,021	7,500	-	(27,028)	142,493
Leasehold improvements	9,488,766	173,065	-	-	9,661,831
Assets under construction	-	-	-	-	-
Total	$13,357,741	$402,848	$ -	$(27,028)	$13,733,561

 

Net Book Value
(in dollars)

Capital asset class	Planned Results 2014	Estimated Results 2013
Machinery and equipment	$86,216	$123,724
Computer equipment	39,312	56,122
Computer software	121,509	179,753
Office furniture and equipment	314,943	404,664
Motor vehicles	22,500	-
Leasehold improvements	134,448	287,513
Assets under construction	18,367	18,367
Total	$737,295	$1,070,143

11. Contractual obligations

The nature of the Office's activities can result in some large multi-year contracts and obligations whereby the Office will be obligated to make future payments when the services/goods are received. Significant contractual obligations that can be reasonably estimated are summarized as follows:

(in dollars)

	2014	2015	2016	2017	2018 and thereafter	Total
Goods and Services	$56,783	$4,000	$ -	$ -	$ -	$60,783
Operating Leases	-	-	-	-	-	-
Total	$56,783	$4,000	$ -	$ -	$ -	$60,783

12. Related party transactions

The Office is related as a result of common ownership to all government departments, agencies, and Crown corporations. The Office enters into transactions with these entities in the normal course of business and on normal trade terms. During the year, the Office received common services which were obtained without charge from other government departments as disclosed below.

A- Common services provided without charge by other government departments

During the year, the Office received services without charge from certain common service organizations, related to accommodation, the employer's contribution to the health and dental insurance plans, workers' compensation coverage, interpretation services and security services. These services provided without charge have been recorded in the Office's Future-Oriented Statement of Operations and Departmental Net Financial Position as follows:

(in dollars)

	Estimated Results 2013	Planned Results 2014
Accommodation	$5,258,457	$5,332,572
Security Services	3,323,740	3,479,579
Employer's contribution to health and dental insurance plans	1,435,026	1,501,334
Interpretation service	174,080	182,784
Workers' compensation	38,343	36,426
Total	$10,229,646	$10,532,695

The Government has centralized some of its administrative activities for efficiency, cost-effectiveness purposes and economic delivery of programs to the public. As a result, the Government uses central agencies and common service organizations so that one department performs services for all other departments and agencies without charge. The costs of these services, such as the payroll and cheque issuance services provided by Public Works and Government Services Canada and audit services provided by the Office of the Auditor General are not included in the Office's Future-Oriented Statement of Operations and Departmental Net Financial Position.

B- Other transactions with related parties

(in dollars)

	Estimated Results 2013	Planned Results 2014
Expenses - Other government departments and agencies	$5,519,401	$5,591,552
Revenues - Other government departments and agencies	$37,728	$37,563

13. Segmented information

Presentation by segment is based on the Office's program alignment architecture. The presentation by segment is based on the same accounting policies as described in the Summary of significant accounting policies in note 4. The following table presents the expenses incurred and revenues generated for the main programs, by major object of expenses and by major types of revenues. The segment results for the period are as follows:

(in dollars)

	Estimated Results 2013	Court Operations	Payments to the Judges	Internal Services	Planned Results 2014
Expenses
Salaries and employee benefits	$26,788,351	$15,239,674	$5,928,407	$6,905,014	$28,073,095
Professional services	5,620,200	1,122,090	44,750	4,660,273	5,827,113
Accommodation	5,258,457	3,715,736	-	1,616,836	5,332,572
Amortization of tangible capital assets	1,246,107	-	-	402,848	402,848
Library materials	1,115,858	1,098,381	6,200	1,619	1,106,200
Materials, office supplies and equipment	659,367	102,597	27,000	522,403	652,000
Travel	939,857	449,920	362,700	10,080	822,700
Telecommunication services	278,632	20,634	2,000	267,366	290,000
Equipment rental	335,041	78,191	-	216,809	295,000
Printing services	86,221	71,198	-	18,802	90,000
Repairs and maintenance	105,313	15,579	150	79,421	95,150
Postage and courier	23,413	11,181	200	13,819	25,200
Other	1,454	58	-	1,394	1,452
Expenses incurred on behalf of Government	(1,339)	-	-	(1,394)	(1,394)
Total Expenses	42,456,932	21,925,239	6,371,407	14,715,290	43,011,936
Revenues
Sale of information documents and other fees	133,948	-	-	139,350	139,350
Pension contribution revenues	45,707	-	39,521	-	39,521
Revenues earned on behalf of Government	(179,655)	-	(39,521)	(132,850)	(172,371)
Total Revenues	-	-	-	6,500	6,500
Net cost of operations before government funding	$42,456,932	$21,925,239	$6,371,407	$14,708,790	$43,005,436