 | |  | Consolidated Statement of Changes in Net Assets
| Year ended March 31 | 2005 |  | 2004 |  | | [in thousands of Canadian dollars] | | Unrestricted
$ | | Internally
restricted
$ | | Invested in
property,
plant and equipment
$ | | Total
$ | | Total
$ | | | | Balance, beginning of year | 3,374 | | 45,797 | | 33,509 | | 82,680 | | 84,643 | Excess (deficiency) of
revenue over expenses
for the year | 20,576 | | (13,538) | | (5,614) | | 1,424 | | (1,963) | Investments in
property, plant, and
equipment, net | (5,448) | | – | | 5,448 | | – | | – | Transfers for future
expenditures | (15,120) | | 15,120 | | – | | – | | – | | | | Balance, end of year | 3,382 | | 47,379 | | 33,343 | | 84,104 | | 82,680 | | | | | See accompanying notes |
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