OUTDOOR POWER EQUIPMENT INSTITUTE OF CANADA Notes to the Financial Statements For the year ended 31 December 2024
8.
Common control By virtue of a common Board of Directors, OPEIC and OPEI are under common control. OPEI has not been consolidated in OPEIC's financial statements. OPEI's year end is 31 August and its financial statements are prepared in accordance with US generally accepted accounting principles FASB ASU 2016-14, Presentation of Financial Statements for Not-for-Profit Entities. The financial summary as at 31 August 2024 and for the year then ended are based on the audited financial statements. All amounts are presented in US dollars. OPEI 31 August 2024 31 August 2023 Financial Position Total assets $ 23,435,104 $ 21,399,457 Total liabilities 12,107,020 11,629,928 Total net assets 11,328,084 9,769,529 $ 23,435,104 $ 21,399,457 31 August 2024 31 August 2023 Results of Operations Total revenues $ 11,920,546 $ 9,975,791 Total expenses 10,361,991 8,513,006 Excess of revenue over expenses $ 1,558,555 $ 1,462,785
31 August 2024
31 August 2023
Cash Flows Cash flows from Operating activities Cash flows from Investing activities
$ 2,369,354 $ 2,466,482
(436,747)
(122,826)
$ 1,932,607 $ 2,343,656
Increase in cash
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