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Statement of Change in Departmental Net Debt (Unaudited)

Statement of Change in Departmental Net Debt (Unaudited)

For the year ended March 31
(in dollars)
2012 2011

Net cost of operations after government funding
(1,103,906) (473,504)

Change due to tangible capital assets
Acquisition of tangible capital assets 316,480 361,227
Amortization of tangible capital assets (179,829) (104,930)
Loss on disposal of tangible capital assets - (648,863)
Total change due to tangible capital assets 136,651 (392,566)

Change due to prepaid expenses
18,359 -

Net increase (decrease) in departmental net debt
(948,896) 80,938

Departmental Net Debt - Beginning of year
2,053,547 1,972,609

Departmental Net Debt - End of Year
1,104,651 2,053,547

The accompanying notes form an integral part of the financial statements.