23 ONTARIO GRAIN FARMER OCTOBER 2022 Statement of Unrestricted and Internally-Restricted Operations and Net Assets For the year ended May 31, 2022 See notes to the financial statements. BUDGET Market 2022 General Research Development Legacy (note 7) (note 11) Fund Fund Fund (Unrestricted) (Internally (Internally (Internally restricted) restricted) restricted) Transfer (note 10) 0 0 0 0 14,055,874 BALANCE, end of year $ 16,355,455 $ 17,143,835 $ 1,669,936 $ 381,565 $ 14,179,777 REVENUES License fees $ 9,266,373 $ 8,085,962 $ 1,850,000 $ 150,000 $ 0 Grant and partner funding 491,778 27,577 594,817 0 0 Grain Financial Protection 501,350 513,715 0 0 0 Advertising 400,000 346,704 0 0 0 Investment income 67,200 103,776 0 0 160,476 Rental income 246,430 246,443 0 0 0 March annual conference 202,000 200,522 0 0 0 Other income 41,000 78,668 0 0 0 Gain on disposal of capital assets 0 22,935 0 0 0 11,216,131 9,626,302 2,444,817 150,000 160,476 EXPENSES Salaries and wages 2,766,017 2,706,791 0 0 0 Research and market development 2,852,147 214,753 2,140,396 122,500 0 Communication and public awareness 2,677,100 1,820,671 0 0 0 Employee benefits (note 6) 533,183 522,764 0 0 0 Director per diem and expenses 496,110 516,561 0 0 0 Grain Financial Protection 501,349 513,715 0 0 0 Amortization 415,556 375,107 0 0 0 March annual conference and events 414,200 364,843 0 0 0 Memberships 338,827 342,705 0 0 0 Consulting and subcontracting services 544,600 246,540 0 0 36,573 Office 277,930 268,300 0 0 0 Facility expenses 192,000 174,260 0 0 0 Delegate per diem and expenses 166,200 144,056 0 0 0 Employee expenses 236,750 126,603 0 0 0 District expenses 90,000 66,499 0 0 0 Legal and audit 45,000 48,155 0 0 0 Equipment rental and maintenance 19,750 16,607 0 0 0 Data processing 0 0 0 0 0 12,566,719 8,468,930 2,140,396 122,500 36,573 (DEFICIENCY) EXCESS OF REVENUES OVER EXPENSES for the year (1,350,588) 1,157,372 304,421 27,500 123,903 BALANCE, beginning of year 17,706,043 15,986,463 1,365,515 354,065 0 $ 10,085,962 $ 10,053,589 622,394 500,955 513,715 528,107 346,704 337,098 264,252 108,231 246,443 246,443 200,522 91,380 78,668 1,000 22,935 0 12,381,595 11,866,803 2,706,791 2,558,994 2,477,649 2,271,521 1,820,671 1,968,018 522,764 473,606 516,561 421,025 513,715 528,107 375,107 436,996 364,843 115,208 342,705 328,667 283,113 436,674 268,300 220,957 174,260 186,185 144,056 61,453 126,603 44,325 66,499 71,523 48,155 69,880 16,607 8,133 0 174,193 10,768,399 10,375,465 1,613,196 1,491,338 17,706,043 16,214,705 14,055,874 0 $ 33,375,113 $ 17,706,043 ACTUAL ACTUAL 2022 2021 Statement of Operations and Net Assets Externally Restricted Wheat Marketing Fund For the year ended May 31, 2022 2021 Crop 2020 Crop Amount Amount REVENUE Sales $ 0 $ 3,464,589 Inventory, beginning 0 (46,069) 0 3,418,520 Hedging activity (net) 0 (58,576) 0 3,359,944 EXPENSES Inventory adjustment 0 1,835 Elevation 0 29,171 Inspection and treating 0 2,533 Interest and service charges 0 9,164 Storage 0 58,814 Other recovery 0 14,214 Administration 0 385,485 0 501,216 BALANCE, before wheat acquired 0 2,858,728 Cost of wheat acquired 0 3,297,345 BALANCE, after wheat acquired 0 (438,617) Interest earned 0 177,566 DEFICIENCY OF REVENUES OVER EXPENSES for the year 0 (261,051) WHEAT MARKETING FUND, beginning of year 14,055,874 14,316,925 TRANSFER TO LEGACY FUND (note 10) (14,055,874) 0 WHEAT MARKETING FUND, end of year $ 0 $ 14,055,874
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