D r a f t f o r d i s c u s s i o n o n l y 6 CANADIAN SCHOOL BOARDS ASSOCIATIONS L'ASSOCIATION CANADIENNE DES COMMISSIONS/CONSEILS SCOLAIRES STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED MARCH 31, 2019 Invested in capital 2019 2018 assets Unrestricted Total Total $ $ $ $ Balance, beginning of year 5,204 162,391 167,595 203,955 Excess (deficiency) of revenues over expenses (2,478) 105,458 102,980 (36,360) Balance, end of year 2,726 267,849 270,575 167,595