Ken Johnston
While the Rainy River Cattlemen’s Association would not release its financial statements to the media for the first time in years, it did say it ended the year in the red in some accounts and in the black in others.
Auditor Stacy Hahkala reported at last Wednesday night’s annual meeting in Stratton that the balance sheet for the RRCA showed it with $8,549.25 in bank indeptedness, however, “there were many accounts receivable to come at the end of the year.”
She also noted that due to the flow-through of monies for the sales barn renovation project, the RRCA still is waiting for a large amount of GST to be recovered.
The weighmen’s account had $280 in revenue, but did $557 in repairs to the scales so it lost $277 in 2008.
Hahkala also noted about $70,000 in commissions were brought in at cattle sales. “That is about an $11,000 increase over the previous year’s sales,” she said.
The RRCA ended with a $313.06 profit in the cattle sales account.
Hahkala said she did not do a complete audit on the RRCA’s books this year. Rather, she just looked them over for any items that needed further looking into.
She did note that accounting and legal fees were up dramatically over the previous year due to the pending lawsuit, but did not say by how much.
Her auditor’s report was approved unanimously by the members.
