UNANIMOUS CONSENT RESOLUTIONS OF THE SHAREHOLDER OF RICHMOND OLYMPIC OVAL CORPORATION
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Statement of Operations
Year ended December 31, 2024, with comparative information for 2023
2024 Budget
2024
2023
(note 2(h))
Revenue:
2010 Games Operating Trust Fund (note 6)
$ 3,200,000
$
3,148,868
$
4,136,315
Contribution from City of Richmond (note 12(a))
4,001,306
4,001,306
3,903,713
Memberships, admissions and programs
10,515,858
11,665,157
10,150,651
Other revenue {note 16}
2,041,919
2,712,269
2,986,657
19,759,083
21,527,600
21,177,336
Expenses:
Salaries and benefits
12,424,920
12,749,513
12,045,966
Utilities
1,052,317
929,775
1,045,226
Amortization
2,600,000
1,805,807
1,728,852
Supplies and equipment
1,008,327
1,110,617
1,001,330
Insurance
800,000
788,100
697,986
General and administration
932,083
1,027,208
951,286
Program services
1,543,530
1,962,738
1,729,915
20,361,177
20,373,758
19,200,561
Annual surplus (deficit)
(602,094)
1,153,842
1,976,775
Accumulated surplus, beginning of year
21,471,586
21,471,586
19,494,811
Accumulated surplus, end of year
$ 20,869,492
$ 22,625,428
$ 21,471,586
See accompanying notes to financial statements.
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