Torch - Fall 2017

Financial Information

Havergal College Consolidated Statement of Financial Position

The Havergal College Foundation Balance Sheet

AS AT JUNE 30

2017

AS AT JUNE 30

2017

2016

2016

$

$

$

$

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

ASSETS Cash and cash equivalents

3,529,528 25,240,894 28,770,422

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

41,980,465 1,347,245

38,794,006 1,257,036

Other investments

247,853 425,673

476,370 284,672

Other

LIABILITIES Payable to Havergal College

Total current assets

44,001,236 1,384,020 29,820,648 75,205,904

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

8,933

216,265

Deferred pension asset

FUND BALANCES General Fund

Capital assets, net

1,267,761 3,983,924 23,509,804 28,770,422

868,663

Total assets

Restricted Fund Endowment Fund

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

LIABILITIES AND NET ASSETS Current Accounts payable and accrued liabilities

5,297,945 25,654,855 30,952,800 10,260,713

4,545,453 24,461,657 29,007,110 10,427,764

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 Total liabilities

41,213,513

39,434,874

AS AT JUNE 30

2017

2016

$

$

Net assets Unrestricted

24,364,191 9,628,200 33,992,391

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

723,865 404,100 171,128

Student assistance Program enrichment Capital asset acquisitions

569,945 504,119 247,484

Internally restricted

Total net assets

Total liabilities and net assets

75,205,904

1,299,093

70,663,855

1,321,548

38  HAVERGAL COLLEGE