The American Club 2016/2017 Annual Report

THE AMERICAN CLUB

STATEMENT OF CHANGES IN CLUB FUNDS (cont’d) Year ended 30 June 2017

Operating Fund

Capital Fund

Total Funds

Net investment Renewal in property, and

Total plant and replacement Security Legacy capital equipment fund fund fund fund

$

$

$

$

$

$

$

2016

(Note 13)

Balance at 1 July 2015 3,223,084 16,401,466 51,854,151 3,600,000 39,943,907 111,799,524 115,022,608

Legacy Fund drawn down for current year income tax expense Legacy Fund drawn down for topping up of Operating Fund

159,042

-

-

-

(159,042) (159,042)

-

2,412,238

-

-

- (2,412,238) (2,412,238)

-

(Loss) Income net of tax, before net investment gain (2,571,280) (2,826,490) 2,682,448

-

- (144,042) (2,715,322)

Net investment gain

-

- 18,773,306

-

- 18,773,306 18,773,306

Other comprehensive loss for the year

-

-

-

- (18,050,567) (18,050,567) (18,050,567)

Total comprehensive (loss) income for the year

- (2,826,490) 21,455,754

- (20,621,847) (1,992,583) (1,992,583)

Amount transferred for capital expenditure

- 2,286,894 (2,286,894)

-

-

-

-

Balance at 30 June 2016 3,223,084 15,861,870 71,023,011 3,600,000 19,322,060 109,806,941 113,030,025

See accompanying notes to financial statements.

31 2016/17 ANNUAL REPORT