SIGA_Annual_Report_2015 - page 75

NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED MARCH 31, 2015
75
Management believes its ability to generate funds will be adequate to support these financial liabilities.
CLASSIFICATION AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Classification
Fair value level
March 31,2015 March 31,2014
Cash and cash equivalents
L&R
N/A $ 24,877,957
$ 71,637,278
Short-term investments
L&R
N/A
46,282,500
5,282,500
Accounts receivable
L&R
N/A
2,140,125
2,400,251
Due to SLGA
OL
N/A
61,418,839
66,230,413
Accounts payable .
and accrued liabilities
OL
N/A
18,712,551
15,128,538
Long-term debt
OL
N/A
47,497,747
52,953,075
Interest rate swap liability
FVTPL
2
6,231,550
5,203,754
FVTPL – Fair value through profit and loss, L&R – Loans and receivables, OL – Other liabilities.
Derivatives are carried at their fair value. Derivative instrument fair value is calculated using pricing models that incorporate current market
prices and the contractual prices of the underlying instruments, the time value of money and yield curves.
The fair value of long-term debt, which is classified as other financial liabilities, is addressed in Note 11.
21. RELATED PARTY TRANSACTIONS
Significant related parties to SIGA include the FSIN, holder of the 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
March 31, 2015 March 31, 2014
$ 22,561
$ 24,370
Amounts owed to related parties
2015
2014
$ 100
$ 1,338
Significant transactions with related parties throughout the year are as follows:
Purchases of goods and services
March 31, 2015 March 31, 2014
Building rent and occupancy
$ 6,798,314
$ 7,317,980
Finance lease payments (principal and interest)
9,022,371
7,503,951
Indigenous Gaming Regulators Inc.
3,330,900
2,930,600
Other
1,576,278
1,142,659
Sponsorship
441,748
343,986
1...,65,66,67,68,69,70,71,72,73,74 76,77,78,79,80,81,82,83,84,85,...92
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