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