Torch - Fall 2016

Financial Information

Havergal College Consolidated Statement of Financial Position

The Havergal College Foundation Balance Sheet

AS AT JUNE 30

2016

AS AT JUNE 30

2016

2015

2015

$

$

$

$

ASSETS Current Cash and cash equivalents Tuition fees receivable Other accounts receivable

ASSETS Cash and cash equivalents

1,646,208 22,809,492 24,455,700

1,720,772 22,062,571 23,783,343

38,794,006 1,257,036

34,731,211 1,422,262

Other investments

476,370 284,672

223,814 332,248

Other

LIABILITIES Payable to Havergal College

Total current assets

40,812,084 2,445,433 27,406,338 70,663,855

36,709,535 2,140,864 26,526,095 65,376,494

216,265

–

Deferred pension asset

FUND BALANCES General Fund

Capital assets, net

868,663

852,622

Total assets

2,457,533 20,913,239 24,455,700

Restricted Fund Endowment Fund

2,381,170 20,549,551 23,783,343

LIABILITIES AND NET ASSETS Current Accounts payable and accrued liabilities

4,545,453 24,461,657 29,007,110

3,272,099 23,536,554 26,808,653

Prepaid tuition fees

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:

Total current liabilities

Deferred capital contributions, other liabilities

10,427,764 39,434,874

10,685,295 37,493,948

Total liabilities

AS AT JUNE 30

2016

2015

$

$

Net assets Unrestricted

22,637,581 8,591,400 31,228,981

20,176,646 7,705,900 27,882,546

569,945 504,119 247,484

Student assistance Program enrichment Capital asset acquisitions

525,000 234,448 141,552 901,000

Internally restricted

Total net assets

Total liabilities and net assets

70,663,855

1,321,548

65,376,494

42  HAVERGAL COLLEGE