CWB returns $4.95 billion

[cottonpicken]

Ok still digesting the CWB annual report. Yet perhaps I haven't found all the parts to answer this question I have:
Arason has stated the following:
Last year, the CWB earned $4.95-billion, with 91 per cent of this amount returned to Prairie farmers.

Now using my farmer math shows that the CWB retained $445 million dollars.
now where did all that go to? or is my math wrong?

Last year, the CWB earned $4.95-billion, with 91 per cent of this amount returned to Prairie farmers. Returns for the 2007-08 crop year promise to be higher, and will certainly outstrip what is earned by U.S. producers of wheat and durum.

[parsley]

.....contingency fund magic .....

explain the spell on it.

[Vader]

The CWB has no retained earnings.

[parsley]

Ladies and gentlemen,


Step right up!

Welcome to the slight of hand commentary by none other than .....

Vvvvvvvvvvvvvvvvvvvader.



Parsley

[charliep]

I found the accounting side of the barley pools to be the most interesting (pages 70 to 72).

Malt barley revenue - $191.56/tonne port. Earnings for distribution - $194.41.

Pool A feed barley revenue - $203.46/tonne. Earnings for distribution - $193.10/tonne.

Pool B feed barley revenue - $184.64/tonne. Earnings for distribution - $260.18. Note that net interest earnings was the factor that topped up the B pool ($55.61/tonne versus $8.14/tonne on the A pools and $1.17/tonne on malt barley).

I find the last paragraph on the contingency section also interesting. Would find it interesting asking how the CWB board of directors makes decisions about how the feed barley interest earnings are allocated but would be a waste of typing.

[charliep]

I also note the other income (supported by note 19 on page 91) for an additional $50.17.

[parsley]

C'mon farmers,

Step right up here.

Place your Board barley bets today.

200 tonnes per bet

Watch my Board hands.

If you guess under which cup the barley money goes, you keep the money.


$194.41 malt under Cup A
Did you see it? Yeeeeeees!

$193.10 feed under Cup B
Did you see it? Yeeeees!

$260.18 feed under Cup C
Did you see it? Yeeeees!


Now watch my hands carefully. I have piles of cash.

I trade A for B and B for C and C for A and A for A and B for C and B for B and A for B and B for C and C for A and A for A and B for C and B for B.
and A for B and B for C and C for A and A for A and B for C and B for B
and A for B and B for C and C for A and A for A and B for C and B for B.

Pick one, snappy.
Ah, you picked this one?

Nothing under it.
You lose 200 tonnes,

C'omon suckers, er, snappers, step right up here..... One more time......

Parsley

[parsley]

Step right up.

The Board Circus is held monthly at Main Street in Winnipeg, Manitoba.

Tickets can be purchased from hoppsing.

Try your hand at the Barley Booth in March.

The Wheat Booth in April.

You might even win a Flaming Teddy Bear.

Parsley

[charliep]

Should take back to Erik's topic. Information you need to review is on page 1 of the annual report and supported by financial statments. Page 1 has a statement which highlights current year plus the last 4 years. As an example, net interest earning have decreased from $54.8 mln in 2002/03 to $30.6 mln in 2006/07.

[charliep]

Vader

excuse my use of the word "retained" let me rephase :
All earnings of the CWB are returned to producers less administration costs.
Ok so do I take it that admin costs now are 445 million?
Charliep will re read the financials ! thanks!
Vader:
perhaps you can also take some time to answer my questions on malt barley in a different thread titled CashPlus. Get Hopsing to help !!
Erik