b'Canadian School Boards AssociationsStatement of Changes in Net AssetsInvested incapital 2025 2024For the year ended March 31 assets Unrestricted Total TotalDraft for discussionBalance, beginning ofthe year $ 1,008 $ 449,185 $ 450,193 $ 419,878Excess (deficiency) ofrevenues overexpenditures (300) 27,000 26,700 30,315Balance, end oftheyear $ 708 $ 476,185 $ 476,893 $ 450,193The accompanying notes are an integral part of these financial statements.78'