33-905F - Report of working capital [F]
| Published Date: | 2001-03-30 |
|---|---|
| Effective Date: | 2001-03-28 |
| Document(s): |
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This is the form required under sections 19(3), 19(5), 20(1), 20(2), 41(1)(c) and 70(3) of the Securities Rules.
BC FORM 33-905F (Previously Form 62)
SECURITIES ACT
REPORT OF WORKING CAPITAL
INSTRUCTIONS
This report, to be prepared by all mutual fund dealers, real estate securities dealers, scholarship plan dealers, portfolio managers and investment counsel at least monthly, must be filed on a periodic basis as required by section 70(3) of the Securities Rules or as described in a registrant’s conditions of registration. The calculation is intended to demonstrate an adequate level of available financial resources in conducting the day-to-day operations of the registrant’s business. Please note that minimum working capital prescribed in the Securities Rules is intended as a crisis threshold and that registrants should plan to maintain amounts significantly in excess of this amount on a daily basis. Any capital deficiency must be reported to the Executive Director immediately.
CONTENTS OF FORM
NAME OF DEALER / ADVISER: ____________________ FILE NUMBER: _______________________
CONTACT PERSON / TITLE: ______________________ TELEPHONE: _________________________
REPORTING PERIOD: _____________________________________________
Current Period Prior Period
(I) WORKING CAPITAL
CURRENT ASSETS:
RRSP in trust ______________ _____________
Cash in trust ______________ _____________
Securities owned ______________ _____________
Client Accounts ______________ _____________
Recoverable & overpaid income taxes ______________ _____________
Interest & dividends receivable ______________ _____________
Receivable from mutual fund 1 ______________ _____________
Other commissions and fees receivable 1 ______________ _____________
Other third party receivables1 ______________ _____________
Prepaid expenses ______________ _____________
Other current assets (Specify)1:
______________________________________ ______________ _____________
______________________________________ ______________ _____________
______________________________________ _________________________________
1 NOTE: For the purposes of this calculation, any related party balances which are not generated in the “normal course” of the registrant’s business (e.g., intercompany or shareholder loans receivable are not generated from the normal revenue stream) are not considered as allowable current assets and should be excluded.
Current Period Prior Period
Trust liabilities ______________ _____________
Variable compensation (commissions) payable ______________ _____________
Bonuses payable ______________ _____________
Accounts payable & accrued liabilities ______________ _____________
Client accounts ______________ _____________
Income taxes payable ______________ _____________
Unsubordinated related party loans 2 ______________ _____________
Other current liabilities (Specify)2:
______________________________________ ______________ _____________
______________________________________ ______________ _____________
______________________________________ ________________________________
TOTAL CURRENT LIABILITIES ________________(B) ___________________(B)
2 NOTE: For the purposes of this calculation, all unsubordinated related party debt (e.g. intercompany or shareholder payables) are to be included as current, regardless of repayment terms or agreements.
EXCESS WORKING CAPITAL
Working Capital [(A) - (B)] ______________ _____________
Less: Minimum Working Capital ______________ _____________
Less: Maximum deductible under financial institution bond _______________ ______________
TOTAL EXCESS WORKING CAPITAL _______________ _______________
(II) TRUST ACCOUNTS
Trust cash at period end ______________ _____________
Client credit balances ______________ _____________
If deficiency in either of parts (I) or (II), date and description of method in which deficiency covered:
_________________________________________________________________________
_________________________________________________________________________
Signed: Title: Dated:
_________________________ _______________ ___________________
Revised March 28, 2001
Auditor’s Report
(Report of Working Capital)
TO: BRITISH COLUMBIA SECURITIES COMMISSION
We have audited the “Report of Working Capital” of__________________________________________________
(dealer or adviser)
as at ______________________ , ______ and ______________________, ______.
(month, day, year: current period) (month, day, year: prior period)
The report is the responsibility of the __________________ management. Our responsibility is to express an
(dealer’s or adviser’s)
opinion on the report based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. These standards require that we plan and perform an audit to obtain reasonable assurance whether the report is free of material misstatements. An audit includes examining, on a test basis, the amounts and disclosures in the financial information. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial information.
In our opinion, this report presents fairly, in all material respects, the working capital and other presented financial
information of ______________________________________________ as at ______________________,
(dealer or adviser) (month, day, year: current period)
______ and ______________________, ______ in accordance with the provisions of the British Columbia
(month, day, year: prior period)
Securities Commission’s “Report of Working Capital”.
(signed)______________________________________
CHARTERED ACCOUNTANT or
CERTIFIED GENERAL ACCOUNTANT
City____________________________________________
Date____________________________________________
Revised March 28, 2001