Page 45 - 2008_2009_Annual_Report

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Saskatchewan Indian Gaming Authority Inc.
Notes to the Financial Statements
Year ended March 31, 2009
043
3. Inventory
Inventory totalling $10,146,074 was recognized as cost of sales for the year ended March 31, 2009 (2008 –
$7,618,019). No write-downs of inventories were noted for the year ended March 31, 2009 (2008 – $nil), and
there were no reversals of write-downs from previous years.
4. Uncommitted Proceeds of Table Operations
The Casino Operating Agreement provides for SIGA to use any net income from the operation of licensed table games
for charitable or religious objects or purposes. Distributions of funds were made during the year as follows:
2009
2008
Balance, beginning of year
$
$
Net loss from table operations
(Note 14)
(2,066,267)
(1,105,650)
(2,066,267)
(1,105,650)
Net loss from table operations allocated to slot operations
2,066,267
1,105,650
Amounts disbursed
Balance, end of year
$
$ –
5. Pension Plan
Effective April 1, 1997, SIGA established a pension plan for employees. The plan is a defined contribution plan
administered by Great West Life. Substantially all of SIGA’s full-time employees participate in the plan. SIGA’s
financial obligation is limited to matching the required amounts contributed by employees, 6% of salary, which
totalled $3,924,932 (2008 – $2,322,028).
6. Accounts Receivable
2009
2008
Accounts receivable
$ 1,491,181
$
399,700
GST input tax credits receivable
1,569,862
1,553,391
Advances to suppliers, contractors and employees
79,491
90,514
Casino development costs receivable
1,215,431
$ 3,140,534
$ 3,259,036