Financials

Another balanced budget! On the income side steady domestic film & television production and a solid level of commercial production kept us afloat. We were able to control expenses and finish the year with a very small operating deficit of only $2,798.  

Highlights of This Year’s Statements

Revenue:
Income from dues, permit fees, and administration fees remained at essentially the same level as fiscal 2007/08. Investment income was significantly higher at $1,181,868     compared to $679,482 in fiscal 2007/08. This increase is due to the fact that we were able to recognize $155,721 in capital gains as well as benefit from a loan arrangement that netted us just over $300,000 for the year.

Expenses:
Total branch expenses were $5,309,452 in fiscal 2008/09 compared to $5,133,803 in fiscal 2007/08. This year transfers to ACTRA National decreased to $2,003,213 from $2,010,067 in the prior year.

New Accounting Standards:
We are now required to adjust our investments to market value at year end. The result?  Unrealized (paper) losses resulting from a falling market show up as a write-down of $1,292,330 bringing our total net loss to $1,295,128. Of course, as the market recovers, the same accounting practice will mean that equally irrelevant unrealized (paper) gains will show up on the revenue side.

Remember:  
Subtract the paper loss of $1,292,330 from the reported total net loss to find our operating loss of $2,798.

Click here to view the ACTRA Toronto's full 2008-2009 Audited Financial Statement as a pdf.

Should you have any questions or would like further information about our financials please contact Austin Schatz, ACTRA Toronto’s VP Finance, at aschatz@council.actratoronto.com.