22 Financial statements EXPENSES Salaries and wages 3,248,445 3,261,227 0 0 0 3,261,227 3,035,813 Communication and public awareness 2,855,877 2,501,320 0 0 0 2,501,320 2,587,613 Research and market development 2,738,618 107,500 2,135,456 187,555 0 2,430,511 2,379,483 Employee benefits (note 5) 723,085 772,839 0 0 0 772,839 679,867 Director per diem and expenses 683,100 679,860 0 0 0 679,860 670,369 Consulting and subcontracting services 734,100 609,559 0 0 33,830 643,389 509,814 Grain Financial Protection 532,422 530,781 0 0 0 530,781 482,442 March annual conference and events 520,300 446,839 0 0 0 446,839 423,917 Office 435,403 418,922 0 0 0 418,922 310,349 Memberships 399,953 416,675 0 0 0 416,675 372,387 Employee expenses 435,200 369,171 0 0 0 369,171 299,868 Amortization 372,885 368,296 0 0 0 368,296 378,757 Legacy fund disbursements 335,714 0 0 0 330,714 330,714 335,714 Delegate per diem and expenses 258,500 310,509 0 0 0 310,509 219,770 District expenses 150,000 177,858 0 0 0 177,858 69,944 Facility expenses 215,500 176,203 0 0 0 176,203 173,337 Legal and audit 37,000 39,234 0 0 0 39,234 42,217 Equipment rental and maintenance 20,950 14,697,052 27,215 11,214,008 0 2,135,456 0 187,555 0 364,544 27,215 13,901,563 23,597 12,995,258 (DEFICIENCY) EXCESS OF REVENUES OVER EXPENSES for the year (1,420,040) 119,134 (151,014) 62,445 219,270 249,835 (476,272) BALANCE, beginning of year BALANCE, end of year 32,898,841 $31,478,801 16,757,756 $16,876,890 1,734,769 $1,583,755 118,565 $181,010 14,287,751 $14,507,021 32,898,841 $33,148,676 33,375,113 $32,898,841 Statement of Unrestricted and Internally-Restricted Operations and Net Assets For the year ended May 31, 2024 BUDGET 2024 (note 6) General (note 8) (Unrestricted) Research Fund (Internally restricted) Market Development Fund (Internally restricted) Legacy Fund (Internally restricted) ACTUAL 2024 ACTUAL 2023 REVENUES License fees $10,625,547 $9,059,577 $1,850,00 $250,000 $0 $11,159,577 $9,824,381 Investment income 1,015,000 619,445 0 0 583,814 1,203,259 927,827 Grain Financial Protection 532,422 530,778 0 0 0 530,778 482,442 Advertising 320,000 289,139 0 0 0 289,139 313,752 Rental income 258,968 259,948 0 0 0 259,948 249,307 March annual conference 222,000 248,189 0 0 0 248,189 210,651 Grant and partner funding 147,325 104,055 134,442 0 0 238,497 411,584 Other income 155,750 171,297 0 0 0 171,297 99,042 Gain on disposal of capital assets 0 13,277,012 50,714 11,333,142 0 1,984,442 0 250,000 0 583,814 50,714 14,151,398 0 12,518,986 See notes to the financial statements.
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