Torch - Fall 2013

Financial Information

Havergal College Consolidated Statement of Financial Position

Havergal College Foundation Balance Sheet

AS AT JUNE 30

2013

AS AT JUNE 30

2013

2012*

2012

$

$

$

$

ASSETS Current Cash and cash equivalents

ASSETS Cash and cash equivalents

895,014

867,723

25,351,901

25,090

21,169,230

Grant receivable

-

1,732,362

17,666,725

Tuition fees receivable

2,334,200

Other investments

15,678,921

134,320

Other accounts receivable

129,828

18,586,829

16,546,644

449,175

Other

468,550

FUND BALANCES General Fund

Total current assets

27,667,758

24,101,808

1,207,809

388,772

Deferred pension asset

834,711

332,937

27,659,333

2,045,758

Capital assets, net

28,665,524

Restricted Fund

1,757,389

16,152,299

Endowment Fund

14,456,318

56,534,900

53,602,043

TOTAL ASSETS

18,586,829

16,546,644

LIABILITIES AND NET ASSETS Current Accounts payable and accrued liabilities 3,213,710

3,020,310

Grants from The Havergal College Foundation to Havergal College During the year The Havergal College Foundation made grants to Havergal College for the following purposes:

21,175,074

Prepaid tuition fees

21,009,391

Total current liabilities 

24,388,784

24,029,701

-

Working capital deposits

6,000

11,294,557

Deferred capital contributions

11,793,659

Total liabilities

35,683,341

35,829,360

AS AT JUNE 30

2013

2012

$

$

Net assets Unrestricted

15,758,759

13,821,883

375,000 380,717

Student assistance

350,000

5,092,800

Internally restricted

3,950,800

Program enrichment

384,450

Total net assets

20,851,559

46,753

17,772,683

Capital asset acquisitions

40,550

56,534,900

802,470

53,602,043

775,000

TOTAL LIABILITIES AND NET ASSETS

*Fiscal 2012 figures have been re-stated to reflect the fact that the College has applied the transitional provisions set out in CICA 1501, First-Time Adoption for Not-for-Profit Organization , with respect to employee future benefits.

32 HAVERGAL COLLEGE