PAMI | Innovative solutions for Agriculture and...

PRAIRIE AGRICULTURALMACHINERY INSTITUTE

ACT 1999 SASKATCHEWANMinistry of Agriculture

MANITOBADepartment of Agriculture

PAMIAGREEMENT

PAMI BOARD OF DIRECTORS

PAMI PRESIDENT/CEO

CORPORATESERVICES

SASKATCHEWANOPERATIONS

Humboldt, SKSaskatoon, SK

Humboldt, SK

MANITOBAOPERATIONS

Portage La Prairie, MBWinnipeg, MB

STRATEGIC ADVISORYCOMMITTEE

0.0

Projects Supporting Ag Mandate (10%)*

OVERALL ACHIEVEMENT SCORE

Projects Supporting WESTEST (5%)

Client Satisfaction (8%)

Quality Assurance Program Performance (7%)

Overall Revenue (5%)

Future Sales Development (5%)

Overall Profitability (30%)

Strategic Actions (15%)

Provincial Grant Utilization (10%)

Board Satisfaction (5%)

0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0

3.34.0

2.42.7

2.02.2

3.8 3.7

2.73.2

1.61.5

0.81.3

4.0

3.2

3.6

3.7

3.4

3.4

1.42.0

*Achievement Scores are assigned a percentage of 100%

2015-162016-17

60% +27% +39%

of our project work isrelated to agriculture

81 agriculture-related research projects completed

Up 27%*

45 agriculture-related development projects completed

Up 39%*

43% Ag Research Partners

17% Ag Companies

23% Defence and Security

11% SK & MBSmall and Medium

Businesses

7% Other (Mining, Energy, Etc.)

Amie Harrison

Statement 1

2017 2016

Financial Assets Cash 685,091$ 744,050$ Due from General Revenue Fund (Note 3) 1,463,374 2,269,421 Accounts receivable (Note 4) 2,647,974 2,190,833

4,796,439 5,204,304

Liabilities Accounts payable and accrued liabilities (Note 5) 1,106,741 865,765 Deferred revenue 973,052 1,010,969

2,079,793 1,876,734

Net Financial Assets (Statement 4) 2,716,646 3,327,570

Non-Financial Assets Tangible capital assets (Schedule 1) 4,826,853 4,751,932 Prepaid expenses 297,455 277,568 Breeding herd (Note 6) 275,325 316,018 Inventory held for consumption (Note 7) 315,053 315,302

5,714,686 5,660,820

Accumulated Surplus (Note 8) Accumulated operating surplus (Statement 2) 8,431,199 8,988,100 Accumulated remeasurement gains (Statement 3) 133 290

8,431,332 8,988,390

8,431,332$ 8,988,390$

Contractual obligations (Note 13)

PRAIRIE AGRICULTURAL MACHINERY INSTITUTE

STATEMENT OF FINANCIAL POSITIONAs at March 31

(See accompanying notes and schedules to the financial statements)

Statement 2PRAIRIE AGRICULTURAL MACHINERY INSTITUTE

STATEMENT OF OPERATIONS AND ACCUMULATED SURPLUSFor the year ended March 31

Budget 2017 2016(Note 12)

RevenueProvincial Transfers: Government of Saskatchewan Ministry of Agriculture - operating 1,223,000$ 1,223,000$ 1,023,000$ Government of Manitoba Department of Agriculture, Food and Rural Development - operating 333,000 333,000 333,000

1,556,000 1,556,000 1,356,000

Fee for service 8,952,326 7,672,434 6,959,365 Other income 488,300 298,062 544,993 Interest income 8,000 12,130 19,003

Total revenues 11,004,626 9,538,626 8,879,361

ExpensesSaskatchewan Operations 6,507,319 6,159,395 5,849,325 Western Beef Development Centre 2,042,740 2,049,657 1,880,359 Manitoba Operations 1,488,875 1,534,986 1,501,995 Corporate Services 487,315 351,489 544,044 Total expenses 10,526,249 10,095,527 9,775,723

Operating deficit before capital grants 478,377$ (556,901) (896,362)

Capital grants from Department of Agriculture, Food andRural Development - 249,950

Operating (deficit) surplus for the year (Schedule 2) 478,377$ (556,901)$ (646,412)$

Accumulated operating surplus, beginning of year 8,988,100 9,634,512

Accumulated operating surplus, end of year (Statement 1) 8,431,199$ 8,988,100$

(See accompanying notes and schedules to financial statements)

Statement 3

2017 2016

Accumulated remeasurement gains (losses), beginning of year 290$ (1,360)$ Unrealized gains attributable to foreign exchange 133 290

Amounts reclassified to the statement of operations (290) 1,360Net remeasurement (losses) gains for the year (Statement 4) (157) 1,650Accumulated remeasurement gains, end of year (Statement 1) 133$ 290$


STATEMENT OF REMEASUREMENT GAINS AND LOSSESFor the year ended March 31


Statement 4

Budget 2017 2016(Note 12)

Operating deficit (surplus) for the year (Statement 2) 478,377$ (556,901)$ (646,412)$

(Acquisition) of tangible capital assets (800,000) (426,098) (532,832)(Acquisition and transfer) of breeding herd - (88,069) (150,894)Amortization of tangible capital assets 346,400 348,151 342,110Amortization of breeding herd 79,000 68,832 79,004Proceeds of disposal of tangible capital assets - 78 -Proceeds of disposal of breeding herd - 75,347 75,182Net loss on the disposal of tangible capital assets - 725 -Net loss on write-offs of tangible capital assets - 2,223 4,651Net (gain) on the disposal of breeding herd (70,000) (15,417) (46,433)

Net (acquisition) of tangible capital assets and breeding herd (444,600) (34,228) (229,212)

(Acquisition) use of prepaid expenses - (19,887) 204,107Use (acquisiton) of inventory held for consumption - 249 (70,762)

Net (acquisition) consumption of other non-financial assets - (19,638) 133,345

Net remeasurement (losses) gains for the year (Statement 3) (157) 1,650

Decrease in Net Financial Assets (610,924) (740,629)

Net Financial Assets, beginning of year 3,327,570 4,068,199

Net Financial Assets, end of year (Statement 1) 2,716,646$ 3,327,570$


STATEMENT OF CHANGE IN NET FINANCIAL ASSETSFor the year ended March 31

(See accompanying notes and schedules to financial statements)


Statement 5 PRAIRIE AGRICULTURAL MACHINERY INSTITUTE

STATEMENT OF CASH FLOWS

For the year ended March 31 2017 2016 Cash flows (used in) from operating activities: Receipts from customers and others $ 7,440,177 $ 8,069,039 Transfers from Government of Saskatchewan 1,223,000 1,023,000 Transfers from Government of Manitoba 333,000 333,000 Interest received 12,130 19,003 Payments to suppliers and employees (9,434,571) (9,348,738) (426,264) 95,304 Cash flows (used in) from capital activities: Purchase of tangible capital assets (426,098) (532,832) Purchase and transfer of breeding herd (88,069) (150,894) Proceeds from sale of tangible capital assets and breeding herd 75,425 75,182 (438,742) (608,544) Cash flows from financing activities: Receipt of capital grants from Government of Manitoba - 249,950 (Decrease) in cash position (865,006) (263,290) Cash position, beginning of year 3,013,471 3,276,761 Cash position, end of year $ 2,148,465 $ 3,013,471 Comprised of: Cash $ 685,091 $ 744,050 Due from General Revenue Fund 1,463,374 2,269,421 $ 2,148,465 $ 3,013,471

PRAIRIE AGRICULTURAL MACHINERY INSTITUTE NOTES TO THE FINANCIAL STATEMENTS

March 31, 2017

1. Status of Institute The Prairie Agricultural Machinery Institute (Institute) is a body corporate operating under The Prairie Agricultural Machinery Institute Act, 1999. Its primary purpose is to perform tests and conduct research on machinery, equipment and technologies used in the agriculture, food and other industries. The Institute’s testing facilities are located in Humboldt and Lanigan, Saskatchewan and Portage la Prairie, Manitoba. On wind-up, any net assets will be divided between the Governments of Saskatchewan and Manitoba in proportion to their respective share in the Institute’s assets equivalent to the percentage of funding provided to date by each province. The Institute’s objective when managing its capital structure, which consists of net assets, is to ensure adequate funding exists to support its operations and growth strategies. Capital is managed through grant funding and a $700,000 available line of credit. The Institute does not have any long-term debt. The Institute relies on funding from the Governments of Saskatchewan and Manitoba and on two customers for continued fee for service revenue. These customers account for 43% (2016 – 38%) of its fee for service revenue and 15% (2016 – 31%) of accounts receivable.

2. Significant accounting policies Pursuant to standards established by the Canadian public sector accounting board (PSAB), the Institute is classified as an ‘other government organization’. These financial statements are prepared in accordance with Canadian public sector accounting standards. The significant accounting policies are as follows:

a) Financial assets

Financial assets are assets that could be used to discharge existing liabilities or finance future operations. Valuation allowances are used where considered necessary to reduce the amounts reported for financial assets to their net realizable value. Cash consists of cash on hand, balances with financial institutions, and Due from General Revenue Fund. Accounts receivable consist of receivables from customers (trade accounts) and other receivables. Receivables are recorded at cost less an allowance for doubtful accounts.

b) Non-financial assets

Non-financial assets are assets held for consumption in the provision of services. These assets do not normally provide resources to discharge the liabilities of the Institute unless they are sold. Tangible capital assets and other non-financial assets are accounted for as assets by the Institute because they can be used to provide services in future periods. Tangible capital assets are recorded at cost less accumulated amortization. Self-constructed assets are recorded at cost, including labour and materials. Amortization is recorded using methods and rates intended to amortize the cost of assets over their estimated useful life.

Method Rate Buildings declining balance 5% Equipment, furniture, and vehicles declining balance 10% Computer equipment declining balance 30% Leasehold improvements straight line 10% Computer software straight line 33% Prepaid expenses are prepaid amounts for goods or services which will provide economic benefits in one or more future periods. The breeding herd is recorded at cost less accumulated amortization. This asset is being amortized at 20% declining balance. Inventory held for consumption consists of calves, bulls and feed. Calves are recorded at net realizable value. Bulls and feed are recorded at lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business.

c) Financial instruments

The Institute’s financial instruments include cash, Due from General Revenue Fund, accounts receivable, accounts payable and accrued liabilities, and deferred revenue. These instruments are recorded at cost or amortized cost. The carrying amount of these instruments approximates fair value due to their immediate or short-term maturity. Except as otherwise disclosed the Institute is not exposed to significant credit, currency, interest or liquidity risk arising from these financial instruments that may affect the amount, timing and certainty of future cash flows.

d) Liability for Contaminated Sites

Contaminated sites are a result of contamination being introduced into air, soil, water or sediment of a chemical, organic or radioactive material or live organism that exceeds the maximum acceptable concentrations under an environmental standard. The liability is recorded net of any expected recoveries. A liability for remediation of contaminated sites is recognized when all of the following criteria are met:

an environmental standard exists contamination exceeds the environmental standard the Institute is directly responsible or accepts responsibility the Institute expects that future economic benefits will be given up and a reasonable estimate of the amount can be made. The liability includes all costs

directly attributable to remediation activities including post remediation operation, maintenance and monitoring.

e) Government transfers

Government transfers are the transfer of assets from government agencies and are not the result of any exchange transactions, and there is no expectation to repay the amounts in the future or a financial return. Government transfers are recognized in the fiscal year in which events giving rise to the transfer occur, providing the transfer is authorized, any eligibility criteria have been met and reasonable estimates of the amounts can be made.

f) Revenue recognition

The Institute’s operations are funded by the Government of Saskatchewan and the Government of Manitoba according to an agreement between the two provinces. Under Order in Council 1800/79, the Institute is not required to return the unused portion of the annual provincial transfers. The Institute recognizes provincial transfers when the transfer is authorized and eligibility criteria have been met by the Institute. The Institute recognizes fee for service revenue when the related services are provided. It recognizes fee for service on contracts using the percentage of completion method. It records monies received prior to providing services as unearned revenue. All other income is recognized when earned.

g) Basis of segmentation

The Institute has adopted the Canadian public sector accounting standards requiring financial information to be provided on a segmented basis. The Institute has been segmented by accountability center. Revenues that are directly related to the costs of the segment have been attributed to each segment. The segments are as follows:

Corporate Services provides for the administration of the Institute.

Saskatchewan Operations is an applied research, design, development and testing segment. It serves the agricultural, industrial, transportation, military and other market sectors.

Manitoba Operations is an applied research, design, development and testing

segment. It serves the agricultural, industrial, transportation, military and other market sectors.

Western Beef Development Centre (WBDC) applies and transfers beef

research to improve profitability of the cow/calf sector of the beef industry.

h) Foreign currency translation

Monetary and non-monetary assets and liabilities prior to settlement that are denominated in foreign currencies are translated into Canadian dollars on the balance sheet date at the exchange rate in effect for that date and are recorded in the Statement of Remeasurement Gains and Losses. In the period of settlement, the cumulative amount of the remeasurement gains and losses are reversed in the Statement of Remeasurement Gains and Losses and an exchange gain or loss is recognized in the Statement of Operations and Accumulated Surplus. Revenue and expense transactions are translated at the approximate exchange rate in effect for that date and are included in the determination of net income for the year.

i) Measurement uncertainty The preparation of financial statements in conformity with Canadian public sector accounting standards requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the period.

Accounts receivable are stated after evaluation as to their collectability and an appropriate allowance for doubtful accounts is provided where considered necessary. Accounts receivable includes fee for service revenue on contracts based on an estimate of the percentage of completion at the time of measurement. The measurement of materials and supplies are based on estimates of volume and quality. Amortization is based on the estimated useful lives of tangible capital assets. These estimates and assumptions are reviewed periodically and, as adjustments become necessary they are reported in earnings in the periods in which they become known. The degree of uncertainty associated with the measurement of estimated amounts recognized in the financial statements is not material.

3. Due from General Revenue Fund

Due from General Revenue Fund is money held in a bank account included in the Government of Saskatchewan’s Consolidated Offset Bank Concentration arrangement. The Institute receives interest on a quarterly basis from the General Revenue Fund calculated using the Government of Saskatchewan’s thirty-day borrowing rate and the Institute’s average daily bank account balance. For 2017, the average interest rate was .54% (2016 – .60%).

4. Accounts receivable 2017 2016 Trade accounts receivable $2,638,757 $2,201,714 Other 38,341 6,980 Allowance for doubtful accounts (29,124) (17,861) Accounts receivable $2,647,974 $2,190,833

Of the accounts receivable balance, approximately $295,181 is over 60 days. The Institute expects to fully collect this balance.

5. Accounts payable and accrued liabilities 2017 2016 Trade accounts payable $695,136 $442,619 Wages and other personnel costs 295,819 346,400 Other 115,786 76,746 Accounts payable and accrued liabilities $1,106,741 $865,765

6. Breeding herd

Cost 2017 2016 Opening balance $653,326 $579,303 Additions and transfers 88,069 150,894 Disposals (127,239) (76,871) Closing Balance $614,156 $653,326

Accumulated Amortization Opening balance $337,308 $306,426 Amortization 68,832 79,004 Disposals (67,309) (48,122) Closing Balance $338,831 $337,308 Net Book Value $275,325 $316,018

The breeding herd consists of cows that are used for beef research in the operations of the Western Beef Development Centre.

7. Inventory held for consumption

2017 2016 Calves $177,468 $ 83,289 Feed 80,448 169,327 Bulls 57,137 62,686 Total $315,053 $315,302

Inventory consumed in 2017 was $24,314 (2016 was $97,792). 8. Accumulated Surplus

Accumulated surplus represents the net financial assets and non-financial assets of the Institute. Accumulated surplus is comprised of the following two amounts:

Accumulated operating surplus from operations, which represents the accumulated balance of net surplus arising from operations of the Institute and allocations as detailed in the table below.

Accumulated remeasurement gains and losses, which represents the unrealized gains and losses associated with foreign exchange.

Certain amounts of the accumulated operating surplus, as approved by the Board, have been designated for specific future purposes. These internally restricted amounts are included in the accumulated operating surplus presented in the Statement of Financial Position. Accumulated operating surplus from operations is as follows:

2016

Additions during the

year

Reductions during the

year 2017 Internally restricted surplus: Bio-energy and processing $1,374,447 $ 7,189 $(180,633) $1,201,003 Government funded capital 2,153,077 (159,440) 1,993,637 3,527,524 7,189 (340,073) 3,194,640 Unrestricted surplus 5,460,576 (224,017) 5,236,559 Accumulated operating surplus $8,988,100 $ 7,189 $(564,090) 8,431,199

9. Related party transactions

This financial statement includes transactions with related parties. The Institute is related to all Saskatchewan Crown agencies such as ministries, corporations, boards and commissions under the common control of the Government of Saskatchewan. The Institute is also related to all Manitoba Crown agencies because of the Government of Manitoba’s participation in the operations of the Institute. In addition, the Institute is related to non-Crown enterprises that the Government of Saskatchewan or the Government of Manitoba jointly controls or significantly influences. Routine operating transactions with related parties are recorded at the agreed upon rates and are settled on normal trade terms. Those transactions and amounts outstanding at year-end are as follows:

2017 2016 Financial statements category

Fee for service revenue $2,414,975 $1,910,954 Other operating expenses 797,240 781,237 Accounts receivable 792,599 735,206 Accounts payable and accrued liabilities 153,607 155,957 Unearned revenue 831,765 873,387

In addition, the Institute pays Saskatchewan and Manitoba provincial sales tax on its taxable purchases made in those provinces. Taxes paid are recorded as part of the cost of those purchases. Other transactions with related parties and amounts due to/from them are described separately in the financial statements and the notes thereto.

10. Pensions

The Institute’s employees participate in the Saskatchewan Public Employees Pension Plan, a multi-employer defined contribution pension plan. Pension benefits are based on accumulated contributions and investment earnings. The Institute’s responsibility is limited to paying the required employer contributions of 6% of regular salaries. In 2017 the Institute made contributions of $300,697 (2016 - $299,241) which are funded from current operations.

11. Financial risk management

Risks have been identified and the Institute ensures that management monitors and controls them. The significant financial risks to which the Institute is exposed are:

Credit risk

Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Institute is exposed to credit risk on the accounts receivable from its customers. In order to reduce its credit risk, the Institute applies sound credit practices. The Institute incurred insignificant bad debt expense during the past five years. Market risk Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market price. Market risk is comprised of currency risk and interest rate risk.

Currency risk Currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Institute is exposed to currency risk on its cash, accounts receivable, and accounts payable. The Institute does not use any derivative financial instruments to alter the effects of this risk.

The Institute enters into transactions denominated in United States currency for which the related revenues, expenses, accounts receivable and accounts payable balances are subject to exchange rate fluctuations. As at March 31, 2017 the following items are denominated in United States currency (CAD converted at $1 USD - 1.331 CAD (2016 – 1.2971 CAD)): 2017 2016 Cash $32,949 $32,466 Accounts payable 8,456 8,909

Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Institute's exposure to interest rate risk is limited to the line of credit and trade payables. The interest rate on this debt is variable; therefore, the Institute may face increasing interest costs in an increasing interest rate market.

Liquidity risk

Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The Institute’s exposure to liquidity risk is dependent on the receipt of funds from its operations, external borrowings and other related sources. Funds from these sources are primarily used to finance working capital and capital expenditure requirements, and are considered adequate to meet the Institute’s financial obligations.

12. Budget The budget for 2016/2017 was approved by the Board on April 11, 2016. The budget figures are presented for comparison purposes.

13. Contractual obligations

The Institute has committed to provide future services to several research and development projects. At March 31, 2017, the value of these services totals $310,246 (2016 - $311,895). Lease terms on vehicles, equipment and land range from 1 month to 10 years. In 2017, these lease costs totalled $98,272 (2016 - $104,105). The Institute is required to make the following minimum lease payments on these leases:

2018 $ 35,922 2019 8,050 2020 8,050 2021 5,854 2022 - 2026 2,625

Under contract with Western Canada Testing Inc. (WESTEST), the Institute manages and operates WESTEST under the direction of WESTEST’s Board of Directors. WESTEST retains an equipment utilization fee on WESTEST projects with the balance of the project revenue due to the Institute. During the year, the Institute earned fee for service revenue of $280,267 (2016 - $242,926) from WESTEST. At year-end, accounts receivable includes $325,438 (2016 - $231,452) due from WESTEST.

14. Future application of accounting standards

Effective April 1, 2017 the Institute will apply the following PSAB standards:

PS 2200 Related Party Disclosures - a new standard defining related parties and establishing guidance on disclosure requirements for related party transactions.

PS 3210 Assets - a new standard providing guidance for applying the definition of assets and establishing disclosure requirements for assets.

PS 3320 Contingent Assets - a new standard defining and establishing guidance on disclosure requirements for contingent assets.

PS 3380 Contractual Rights - a new standard defining and establishing guidance on disclosure requirements for contractual rights.

Sche

dule

1

PR

AIR

IE A

GR

ICU

LTU

RA

L M

AC

HIN

ERY

INST

ITU

TE

SC

HED

ULE

OF

TAN

GIB

LE C

API

TAL

ASS

ETS

As

at M

arch

31

As

set C

ost

Ac

cum

ulat

ed A

mor

tizat

ion

Net

Boo

k N

et B

ook

O

peni

ng

Bala

nce

Addi

tions

D

ispo

sals

W

rite-

dow

ns

Clo

sing

Ba

lanc

e

Ope

ning

Ba

lanc

e Am

ortiz

atio

n D

ispo

sals

W

rite-

dow

ns

Clo

sing

Ba

lanc

e Va

lue

20

17

Valu

e

20

16

Land

and

impr

ovem

ents

$

2

79,8

41

$

-

$

-

$

- $

2

79,8

41

$

- $

-

$

-

$

-

$

-

$ 2

79,8

41

$ 2

79,8

41

Build

ings

5,

386,

076

- -

- 5,

386,

076

3,

307,

816

103,

913

- -

3,41

1,72

9 1,

974,

347

2,07

8,26

0 Eq

uipm

ent a

nd fu

rnitu

re

4,

030,

953

67,8

19

- -

4,09

8,77

2

2,39

8,33

6 17

0,04

4 -

- 2,

568,

380

1,53

0,39

2 1,

632,

617

Vehi

cles

59

9,25

5 -

- (8

00)

598,

455

42

3,75

8 17

,524

-

(548

) 44

0,73

4 15

7,72

1 17

5,49

7 C

ompu

ter e

quip

men

t

37

7,88

2 67

,535

(8

,538

) (2

0,96

3)

415,

916

35

3,28

0 26

,809

(7

,735

) (1

8,99

2)

353,

362

62,5

54

24,6

02

Leas

ehol

d im

prov

emen

ts

171,

246

- -

- 17

1,24

6

112,

649

17,1

25

- -

129,

774

41,4

72

58,5

97

Com

pute

r sof

twar

e 71

,881

38

,210

-

- 11

0,09

1

71,8

81

12,7

36

- -

84,6

17

25,4

74

- As

sets

und

er c

onst

ruct

ion

502,

518

252,

534

- -

755,

052

-

- -

- -

755,

052

502,

518

Tota

l $1

1,41

9,65

2 $

426

,098

$

(8,5

38)

$ (2

1,76

3)

$11,

815,

449

$6

,667

,720

$

3

48,1

51

$ (7

,735

) $

(19,

540)

$6

,988

,596

$4

,826

,853

$4

,751

,932

2017

2016

2017

2016

2017

2016

2017

2016

2017

2016

Reve

nue

Prov

incia

l Transfers:

Go

vernmen

t of S

askatche

wan

M

inistry of A

gricu

lture

‐ ope

ratin

g42

2,00

0$

320,00

0$

475,00

0$

310,00

0$

‐$

‐$

326,00

0$

393,00

0$

1,22

3,00

0$

1,02

3,00

0$

Go

vernmen

t of M

anito

ba D

epartm

ent o

f Agricu

lture,Foo

d an

d R

ural Develop

men

t ‐ ope

ratin

g63

,000

30,000

‐

‐

270,00

0

303,00

0

‐

‐

333,00

0

333,00

0

485,00

0

350,00

0

475,00

0

310,00

0

270,00

0

303,00

0

326,00

0

393,00

0

1,55

6,00

0

1,35

6,00

0

Fee for service

‐

8,07

6

5,28

9,13

5

4,92

3,94

4

1,07

3,49

6

967,15

7

1,30

9,80

3

1,06

0,18

8

7,67

2,43

4

6,95

9,36

5

Othe

r incom

e1,48

4

3,54

0

61,027

40,340

6,73

0

10,473

228,82

1

490,64

0

298,06

2

544,99

3

Interest in

come

4,57

3

9,25

7

7,55

3

9,74

6

4

‐

‐

‐

12,130

19,003

Total R

even

ues

491,05

7

370,87

3

5,83

2,71

5

5,28

4,03

0

1,35

0,23

0

1,28

0,63

0

1,86

4,62

4

1,94

3,82

8

9,53

8,62

6

8,87

9,36

1

Expe

nses

Person

nel

623,76

0

746,10

6

3,57

4,50

2

3,35

5,90

2

889,42

5

873,19

8

821,94

0

811,23

4

5,90

9,62

7

5,78

6,44

0

Fee for service dire

ct co

sts

‐

4,47

6

957,59

4

1,06

3,67

0

193,62

8

177,91

9

658,02

0

521,68

0

1,80

9,24

2

1,76

7,74

5

Administratio

n 11

3,39

5

111,19

5

706,49

2

602,68

7

221,66

0

210,21

6

233,10

1

183,47

5

1,27

4,64

8

1,10

7,57

3

Operating

34,216

31,016

347,13

5

313,07

9

76,355

79,169

97,574

136,02

5

555,28

0

559,28

9

Administratio

n fee (re

covery)

(432

,303

)(359

,095

)29

9,95

7

256,37

5

60,307

49,711

72,039

53,009

‐

‐Am

ortization

5,00

0

5,00

0

218,88

5

200,99

8

77,806

85,769

115,29

2

129,34

8

416,98

3

421,11

5

Lease ‐ lan

d an

d eq

uipm

ent

1,84

8

1,84

8

38,598

37,493

15,805

22,533

42,021

42,037

98,272

103,91

1

Loss on disposal of a

ssets

‐

‐

2,69

7

1,17

0

‐

3,48

0

6,56

0

1,60

6

9,25

7

6,25

6

Hono

raria

5,57

3

3,49

8

‐

‐

‐

‐

3,11

0

1,94

5

8,68

3

5,44

3

Bad de

bt‐

‐

13,535

17,951

‐

‐

‐

‐

13,535

17,951

Total exp

enses

351,48

9

544,04

4

6,15

9,39

5

5,84

9,32

5

1,53

4,98

6

1,50

1,99

5

2,04

9,65

7

1,88

0,35

9

10,095

,527

9,77

5,72

3

Surplus (de

ficit) before capital grants

139,56

8(173

,171

)(326

,680

)(565

,295

)(184

,756

)(221

,365

)(185

,033

)63

,469

(556

,901

)(896

,362

)Ca

pital grants

‐

‐

‐

‐

‐

249,95

0

‐

‐

‐

249,95

0

Surplus (de

ficit) fo

r the

yea

r13

9,56

8$

(173

,171

)$

(326

,680

)$

(565

,295

)$

(184

,756

)$

28,585

$

(185

,033

)$

63,469

$

(556

,901

)$

(646

,412

)$

PRAIRIE AG

RICU

LTUR

AL M

ACHINE

RY IN

STITUT

E

SCHE

DULE OF S

EGMEN

T DISC

LOSU

REFo

r the

Yea

r End

ed M

arch 31

Sche

dule 2

Western Bee

f Dev

elop

men

t Cen

tre

Man

itoba

Saskatchew

anCo

rporate Se

rvice

sTo

tal

PAMI | Innovative solutions for Agriculture and...

Documents

Transcript of PAMI | Innovative solutions for Agriculture and...