Annual Report 2014 - Page 41

Summary Statement of Financial Position As at December 31 2014 2013 ASSETS Cash and cash equivalents $ 31,757,246 $ 25,471,428 Accounts receivable 1,115,085 1,098,493 Prepaid expenses 411,362 313,953 Investments 40,948,839 37,196,922 Capital assets 10,894,465 11,380,596 $ 85,126,997 $ 75,461,392 LIABILITIES Accounts payable and accrued liabilities $ 4,903,938 $ 5,300,966 Due to Ministry of Health and Long-Term Care 1,288,849 1,288,849 Survivors’ Fund 27,772 76,443 Administered programs 233,642 535,957 Capital lease obligations 745,997 1,026,782 Deferred revenue 25,508,688 23,636,733 Accrued pension cost 5,496,911 5,197,972 $ 38,205,797 37,063,702 NET ASSETS Invested in capital assets 10,148,468 10,353,814 Building fund 36,772,732 28,043,876 Unrestricted 164,356 (186,501) Pension remeasurements (164,356) 186,501 46,921,200 38,397,690 $ 85,126,997 $ 75,461,392 Summary Statement of Operations For the year ended December 31 2014 2013 REVENUES Membership fees, net of credit card charges $ 52,394,003 $ 50,382,840 Application fees 5,074,837 4,252,913 Investment income 2,023,576 1,537,920 Other income 3,584,125 4,378,863 Total Revenues $ 63,076,541 $ 60,552,536 EXPENSES Committee costs $ 13,156,346 $ 11,974,671 Staffing costs 36,642,007 34,974,217 Department costs 3,709,303 3,905,121 Depreciation of capital assets 1,419,696 1,505,627 Occupancy 1,497,164 1,374,512 Total Expenses $ 56,424,516 $ 53,734,148 Excess of revenues over expenses for the year $ 8,874,367 $ 6,850,213 Annual Report 2014 39