CCA Board Financial Decisions Finance and Audit Committee.

CCA Board Financial Decisions

Finance and Audit Committee


Calculation of Discretionary Spending for 2010/11

CCA surplus for the year ending April 30, 2010 $853,044

Less: 2009/10 Championship Revenue (consolidated net profit) (595,827) Plus: Discretionary Spending in 09/10 13,269 CCA operational surplus for the year ending April 30, 2010 $270,486

2009/10 Discretionary Spending -- which ever of the following is less: 2% of 2009/10 revenue ($9,773,953 x 2% = $195,479) OR 25% of 2009/10 operational surplus ($270,486 x 25% = $67,622) Discretionary spending for 2010/11 based on the yearending April 30, 2010 $67,622


Calculation of Discretionary Spending for 2011/12

CCA surplus for the year ending April 30, 2011 $640,727

Plus: 2010/11 Championship Revenue (consolidated net loss) $131,831 Plus: CAP expenditures paid or payable as at April 30/11 $ 36,146 Plus: Discretionary Spending in 10/11 $ 67,622 CCA operational surplus for the year ending April 30, 2011 $876,326 2010/11 Discretionary Spending -- which ever of the following is less: 2% of 2010/11 revenue ($9,990,130 x 2% = $199,803) OR 25% of 2010/11 operational surplus ($876,326 x 25% = $219,082) Discretionary spending for 2011/12 based on the year ending April 30, 2011 $199,803


2010-11 CCA Surplus $640,727

Balance Owing Development Fund (2007-2010) $115,6682010-11 Development Fund Rev. 72,525 $188,193Long-Term Reserve (3.3% x$2.25 m) 74,250Discretionary Spending (reinvest in Ops) 199,803 $462,246 Balance $178,48150% to CAP 89,240Balance Remaining $ 89,240


AMOUNT OF ALLOCATION $ 89,240Additional Allocation to CAP $ 22,567Allocation to National Office Mortgage 66,673 89,240

$ 02011 – 2012 CAP:Balance Owing (2007-10) $ 115,6682010-11 Dev. Fund Rev. 72,52550% to CAP 89,240Subtotal $ 277,433CCA Board-Approved Increase 22,567

TOTAL $ 300,000


National Office Mortgage:June, 2011 $311,095

Principal repayment of Mortgage 66,673 July 1, 2011 $244,422 *

*1-year rate available at 3.68% (down from 7.4%)

CCA Board Financial Decisions Finance and Audit Committee.

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