Ontario Chess Association Inc.

Operating Statement

For the year ended March 31

Revenue 2007 2008

Membership Fees $ 5,761 $ 4,635

Trillium Foundation Grant $55,000 $ 0

Events $23,200 $ 4,570

Other $14,000 $ 0

Total Revenue $97,300 $ 9,205

Expenses

Salaries and Wages – York Region Program $44,000 $ 6,000

League Rebates $ 4,000 $ 1,300

Program Costs:

Ontario $ 1,450 $ 0

Youth $ 1,100 $ 600

Canadian $33,505 $ 0

York Region $ 7,617 $ 4,570

Equipment $ 4,600 $ 0

Administration $ 161 $ 120

Total Expenses $96,433 $ 12,590

Net Surplus / (Deficit) $ 867 ($ 3,385)

Ontario Chess Association Inc.

Balance Sheet

As at March 31

Assets 2007 2008

Cash $ 148 $ 0

Accounts Receivable 1,100 4,635

Total Current Assets $1,248 $ 4,635

Fixed Assets $8,107 $ 4,519

Total Assets $9,355 $ 9,154

Liabilities

Accounts Payable

- General $ 600 $ 1,484

- League Rebates $ 2,300

Equity

Other Reserves $ 8,755 $ 5,370

Total Liabilities & Equity $ 9,355 $ 9,154

Ontario Chess Association Inc.

Treasurer’s Report

For the Year Ending 30 March, 2008

This year has been very unusual with no membership fees being paid to us by the Chess Federation of Canada. The entire revenue collected on our behalf, from the CFC, is shown as an Accounts Receivable.

The Trillium Program was successfully completed in July. A Trillium proposal for a Toronto Chess Centre was submitted last Fall but did not succeed. We must generate more corporate and community support to accompany a further submission.

As no membership revenues were received, no League disbursements were able to be made. Clearly we must ensure that we receive funds and only then can we disburse funds towards committed plans. Potential last year rebates to Leagues are shown as an Accounts Payable.

Alice Laimer

Treasurer