This document presents the “Changes in Net Assets” from the financial statement for OGHC prepared by our auditor, MNP, for 2020. The audited statement can be found on the “Budget and financial information” page on the OGHC website. You can link to this page from the Members Ony page. Net assets are the difference between OGHC’s total assets and total liabilities.
The “Report on changes in net assets” in the auditor’s report focuses on three categories of assets: membership shares, unrestricted, and accumulated forgiveness of Manitoba Housing and Renewal Corporation Loans. Previous audits had combined the unrestricted and the value of the forgiveness on the MHRC loan.
This report shows the changes in each of these categories during the period arising from various activities. The total value of OGHC’s net assets at the end of 2020 was $3,709,225.
If you hover your cursor over a category, an explanation of the category will pop up. In some cases, you can link to a more detailed explanation. (If you are using a phone or tablet, you can place your finger over the left-hand column.) In self-explanatory cases (usually totals), there is no explanation. You can download a PDF version of this document here.
You can learn more about membership shares here.
Return to Guide to 2020 Audited Statement.
|
|
Membership Shares 2020 |
Unrestricted |
Accumulated forgiveness of MHRC Loans |
2020 |
2019 |
|
Net assets, beginning of year |
3,424,050 |
61,313 |
67,986 |
3,553,349 |
3,600,053 |
|
Excess (deficiency) of revenue over expenses |
– |
(646) | 135,972 | 135,326 |
(46,704) |
|
Issuance |
20,550 |
– |
|
20,550 |
– |
|
Net assets, end of year |
3,444,600 | 60,667 |
203,958 |
3,709,225 |
3,553,349 |