Torch - Fall/Winter 2019-20

Financial Information

Havergal College Consolidated Statement of Financial Position 2019 AS AT JUNE 30

The Havergal College Foundation Balance Sheet

AS AT JUNE 30

2019

2018

2018

$

$

$

$

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

ASSETS Cash and cash equivalents

2,347,519 28,974,905

4,124,142 27,311,248

35,653,107 4,051,169

39,975,306 1,471,385

Other investments Accounts receivable

16,834

-

360,811 334,291

325,410 283,100

31,339,258

31,435,390

Other

Total current assets

40,399,378 2,051,069 45,498,825 87,949,272

42,055,201 2,064,579 34,853,367 78,973,147

LIABILITIES Payable to Havergal College

Deferred pension asset

9,752

16,297

Capital assets, net

FUND BALANCES General Fund

Total assets

1,608,358 3,584,958 26,136,190 31,339,258

1,405,665 4,866,307 25,147,121 31,435,390

Restricted Fund Endowment Fund

LIABILITIES AND NET ASSETS Current Accounts payable and accrued liabilities

7,779,760 26,949,491 34,729,251 12,390,462

4,475,507 26,186,608 30,662,115 10,311,054

Prepaid tuition fees

Total current liabilities

Grants from The Havergal College Foundation to Havergal College

Deferred capital contributions,

other liabilities Total liabilities

47,119,713

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

40,973,169

Net assets Unrestricted

AS AT JUNE 30

2019

2018

29,141,959 11,687,600 40,829,559

27,062,578 10,937,400 37,999,978

$

$

Internally restricted

Total net assets

783,884 502,397

Student assistance Program enrichment Capital asset acquisitions

695,260 415,054 173,200

Total liabilities and net assets

87,949,272

78,973,147

3,429,913 4,671,194

1,283,514

38  HAVERGAL COLLEGE