Page 60 - SIGA Annual Report 2014

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NOTES TO
THE FINANCIAL
STATEMENTS
YEAR ENDED
MARCH 31, 2014
60
21. RELATED PARTY TRANSACTIONS
Significant related parties to SIGA include the FSIN, holder of a Class A membership in SIGA, and entities related to the FSIN
(including Saskatchewan Indian Institute of Technologies, First Nations University of Canada, Indigenous Gaming Regulators Inc.,
Saskatchewan Indian Cultural Centre, and Saskatchewan Indian Equity Foundation). Related parties also include the Tribal Councils
of Saskatchewan (and their related entities) that hold Class A memberships in SIGA. All transactions with related parties were made
in the normal course of business and have been recorded at exchange amounts agreed upon between the parties.
The following are balances outstanding with related parties:
Amounts owed by related parties
2014
2013
$ 24,370
$ 26,253
Amounts owed to related parties
2014
2013
$
1,338
$
1,100
Significant transactions with related parties throughout the year are as follows:
Purchases of goods and services
March 31, 2014
March 31, 2013
Finance lease payments (principal, interest, and occupancy)
$ 7,503,951
$ 7,486,241
Building rent and occupancy
7,317,980
8,022,074
Sponsorship
343,986
230,406
Other
1,142,659
1,356,400
Indigenous Gaming Regulators Inc.
2,930,600
3,312,398
Key Management Personnel Compensation
Key management personnel are those persons that have the authority and responsibility for planning, directing and controlling
the activities of the Company, directly or indirectly. Key management personnel of the Company include the President/CEO,
vice-presidents, and members of the board of directors. Key management personnel compensation is comprised of:
March 31, 2014
March 31, 2013
Employee compensation and benefits
$ 1,565,714
$ 1,563,699
Post-employment benefits
135,904
135,271
$ 1,701,618
$ 1,698,970
Other transactions with related parties and amounts due to/from them are described separately in these financial statements and
the notes thereto.