The American Club 2019/2020 Annual Report

39 PAGE

STATEMENT OF CHANGES IN CLUB FUNDS Year ended 30 June 2020

2020

Operating Fund $

Capital Fund $

Total Funds $

(Note 13)

(Note 13)

Balance at 1 July 2019

3,200,005

86,458,421

89,658,426

Capital Fund drawn down for topping up of Operating Fund

3,618,829

(3,618,829)

-

Loss net of tax, before net investment gain

(3,618,829)

(2,344,064)

(5,962,893)

-

Net investment gain

285,449

285,449

-

Other comprehensive loss for the year

(1,031)

(1,031)

-

Total comprehensive loss for the year

(5,678,475)

(5,678,475)

Balance at 30 June 2020

3,200,005

80,779,946

83,979,951

2019

Operating Fund $

Capital Fund $

Total Funds $

(Note 13)

(Note 13)

Balance at 1 July 2018

3,200,005

97,427,368

100,627,373

Capital Fund drawn down for topping up of Operating Fund

8,279,089

(8,279,089)

-

Loss net of tax, before net investment gain

(8,279,089)

(3,241,293)

(11,520,382)

-

Net investment gain

553,420

553,420

-

Other comprehensive loss for the year

(1,985)

(1,985)

-

Total comprehensive loss for the year

(10,968,947)

(10,968,947)

Balance at 30 June 2019

3,200,005

86,458,421

89,658,426

See accompanying notes to financial statements.