E-1Financial Statements - Redacted
6 passages
Revenue recognition The Corporation follows the deferral method of accounting for revenue. Restricted fee-for-service or contribution revenue is recognized as revenue within the appropriate fund in the year in which the related expenses ar...
AI summary The Corporation uses the deferral method for revenue recognition, with restricted fee-for-service revenue recognized when expenses are incurred. Restricted contributions for capital assets align with amortization, while endowment contributions affect net assets. HCi3 investment income is allocated to the Other Business Fund based on restrictions, with other income directly impacting net assets.
Efficiency Nova Scotia Revenue Effective January 1, 2023, the Corporation entered into a three-year supply agreement with NS Power to provide demand-side management. The agreement provided funding of $173,000 over three years in monthly in...
AI summary Efficiency Nova Scotia entered into a three-year supply agreement with NS Power starting January 1, 2023, providing demand-side management services. The agreement includes a total funding of $173,000 over three years, with $57,500 in fee-for-service revenue recorded in 2024.
General Index of Financial Information Notes to the financial statements Other Revenue Effective April 1, 2022, the Corporation entered into a five-year contribution agreement with Natural Resources Canada to execute the Canada Greener Hom...
AI summary NS Power entered into agreements with Natural Resources Canada for the Canada Greener Homes Grant Program and the Oil to Heat-pump Affordability Program, recognizing $79,051 in revenue. Additional revenue of $473 was received from HCi3. Investments in GICs and pooled funds follow HCi3's investment policy, prioritizing principal preservation and optimized returns.
i. The Stabilization allocation n is an amount held in reserv ve and used for
AI summary The text refers to a Stabilization allocation, which is an amount held in reserve and used for unspecified purposes. The context suggests a financial reserve mechanism.
be 20 22 De r 5 ce m , $ 20 20 0 7, ly Ju 30 20 24 , 14 8, 00 0 ly Ju 30 20 25 , 14 8, 00 0 ly 30 20 26 Ju , 11 8, 40 0 ly Ju 30 20 27 , 88 80 0 , ly Ju 30 20 28 , 29 60 0 , $ 74 0, 00 0 The Organization recognized $151,654 as revenue in t...
AI summary The Organization recognized $151,654 as revenue in the current year (2023 - $198,854). The table shows figures related to dates and amounts, but no specific details about the context or nature of the revenue are provided.
4.INVESTMENT INCOME Investment income is earned on endowments and consists of distributionsfrom various pooled fund investments as listed in Note 6, as well as interest on cash deposits and unrealized gains or losses due to changes in fair...
AI summary Investment income is derived from endowments and includes distributions from pooled fund investments, interest on cash deposits, and unrealized gains or losses. A portion of this income is allocated to the Stabilization Fund as deferred revenue.