Joseph Brant Hospital Annual Report | Page 25

Statement of Operations
YEAR ENDED MARCH 31 , 2016 , WITH COMPARATIVE INFORMATION FOR 2015
Operating
Restricted
Total
Total
fund
fund
2016
2015
Revenues : Sales
$
1,862,225
$
76,323
$
1,938,548
$ 1,855,005
Fundraising activities
120,498
-
120,498
112,583
Television and wireless internet rental
32,423
-
32,423
38,527
Interest and miscellaneous income
4,050
208
4,258
5,317
2,019,196
76,531
2,095,727
2,011,432
Expenses : Cost of sales
691,079
50,336
741,415
702,141
Salaries and benefits
714,317
-
714,317
672,369
Royalties and advertising levy ( note 7 )
101,492
-
101,492
94,971
General
75,437
-
75,437
74,832
Auxiliary drink tickets
19,783
-
19,783
19,442
Professional fees
17,967
-
17,967
10,602
Repairs and maintenance
15,957
-
15,957
11,619
Depreciation and amortization
10,556
-
10,556
10,326
Administrative
8,798
-
8,798
7,950
License
-
4,985
4,985
5,419
Tickets
-
3,743
3,743
4,004
Loss on disposal of capital assets
1,069
-
1,069
-
Advertising
178
-
178
185
Other
34,396
170
34,566
42,954
1,691,029
59,234
1,750,263
1,656,814
Excess of revenues over expenses before
the undernoted
$
328,167
$
17,297
$
345,464
$
354,618
Donations to Joseph Brant Hospital
Foundation
( 299,324 )
( 15,000 )
( 314,324 )
( 346,625 )
Excess of revenues over expenses
$
28,843
$
2,297
$
31,140
$
7,993
Balance , beginning of year
$
158,119
$
1,209
$
159,328
$
151,335
Balance , end of year
$
186,962
$
3,506
$
190,468
$
159,328
Balance Sheet
MARCH 31 , 2016 , WITH COMPARATIVE INFORMATION FOR 2015 2016 2015
Assets Current assets :
Cash
$
510,460
$ 511,352
Accounts receivable
15,143
17,519
Inventories
87,454
75,804
Prepaid expenses
8,830
5,455
621,887
610,130
Capital assets , net of accumulated depreciation ( note 2 ) 32,103 32,302
Intangible asset , net of accumulated amortization ( note 3 ) 2,500 4,500
Restricted assets : Cash
15,834
13,490
Prepaid expenses
190
2,489
16,024
15,979
$
672,514
$ 662,911
2016 2015
Liabilities and Surplus Current liabilities :
Accounts payable and accrued liabilities ( note 4 )
$
119,881
$ 118,160
Deferred revenue
6,000
–
Due to Joseph Brant Hospital ( note 5 )
356,165
385,423
482,046
503,583
Net assets : Operating fund
186,962
158,119
Restricted fund
3,506
1,209
190,468
159,328
$ 672,514 $ 662,911
Annual Report 2015-2016 25