Annual Report 2015 - Page 42

Summary Statement of Financial Position As at December 31 2015 2014 ASSETS Cash and cash equivalents $ 28,097,450 $ 31,757,246 Accounts receivable 1,011,408 1,115,085 Prepaid expenses 403,845 411,362 Investments 50,085,129 40,948,839 Capital assets 10,726,155 10,894,465 $ 90,323,987 $ 85,126,997 LIABILITIES Accounts payable and accrued liabilities $ 5,917,333 $ 4,931,710 Due to Ministry of Health and Long-Term Care 1,288,849 1,288,849 Administered programs 152,978 233,642 Capital lease obligations 507,028 745,997 Deferred revenue 26,501,566 25,508,688 Accrued pension cost 5,445,028 5,496,911 $ 39,812,782 $ 38,205,797 NET ASSETS Invested in capital assets 10,219,127 10,148,468 Building fund 40,292,078 36,772,732 Unrestricted 197,648 164,356 Pension remeasurements (197,648) (164,356) 50,511,205 46,921,200 $ 90,323,987 $ 85,126,997 Summary Statement of Operations For the year ended December 31 2015 2014 REVENUES Membership fees, net of credit card charges $ 53,912,979 $ 52,394,003 Application fees 5,276,453 5,074,837 Investment income 1,428,933 2,023,576 Other income 4,394,044 3,584,125 Total Revenues $ 65,012,409 $ 63,076,541 EXPENSES Committee costs $ 14,657,126 $ 13,156,346 Staffing costs 39,655,511 36,642,007 Department costs 4,244,471 3,709,303 Depreciation of capital assets 1,289,327 1,419,696 Occupancy 1,542,677 1,497,164 Total Expenses $ 61,389,112 $ 56,424,516 Excess of revenues over expenses before Unrealized gain on investments $ 3,623,297 $ 6,652,025 Unrealized gain on investments - $ 2,222,342 Excess of revenues over expenses for the year $ 3,623,297 $ 8,874,367 42 COLLEGE O TPPSSTSӔшӕTS‚