The Pownal Minor Hockey Association was established in Pownal in January $2015.$ Its mandate is to promote recreational hockey in the small

community of Pownal. With the support of the provincial government, local business people, and many individuals, the association raised

sufficient funds to build an indoor hockey arena and it also established an endowment fund for paying travel costs to tournaments on an

annual basis.

The following schedule summarized the cash flows for the year ended December $31,2015.$