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57

16. OTHER EXPENSES

March 31, 2016

March 31, 2015

Other

$

1,819,812

$

1,978,450

Departmental supplies

1,117,216

1,050,811

Uniforms and laundering

852,720

721,441

Travel and sustenance

752,927

858,942

Staff training

579,750

746,863

Equipment lease

546,541

478,042

Equipment repairs

343,026

374,320

Printing

306,247

347,334

$

6,318,239

$

6,556,203

17. FINANCE COSTS

March 31, 2016

March 31, 2015

Interest on long-term debt

$

2,615,969

$

2,816,896

Interest on finance lease obligations

5,436,968

5,133,820

$

8,052,937

$

7,950,716

The weighted average capitalization rate on funds borrowed generally is 8.70% per annum (2015 – 8.54% per annum).

18. EMPLOYEE BENEFITS

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 totaled $3,736,257 in fiscal 2016 (2015 –

$3,662,413).

19. CAPITAL DISCLOSURES

SIGA’s objectives when managing capital are to ensure adequate capital to support the operations and growth strategies of SIGA.

SIGA funds its capital requirements through the $5,000,000 capital reserve from SLGA, internal operating activities and debt.

SIGA also has an available line of credit of $2,000,000 at a financial institution (Note 11).

SIGA limits the amount of risk in proportion to its capital. The initial financing option of the Dakota Dunes, Living Sky, and Painted

Hand casino projects (“casino projects”) was limited to variable rate loans. SIGA entered into four interest rate swap agreements

to exchange the variable rate debt instruments to fixed rate loans to mitigate fluctuations in interest rates. SIGA also regularly

evaluates if any factors have the potential to change the capital structure of the organization. Risk management reports are

presented to the Audit and Finance Committee and Board of Directors on a quarterly basis.

NOTES TO THE FINANCIAL STATEMENTS

Year Ended March 31, 2016