73933 Annual Report Docv7 - YMCA of Edmonton, AB

financial report
STATEMENT OF OPERATIONS - Year Ended December 31
Revenue 2006 2005
Membership dues $ 8,932,960 $ 9,026,190
Program fees 6,551,300 5,776,760
YMCA opportunity fund (872,172) (1,329,253)
14,612,088 13,473,697
Contributions 1,645,882 706,739
Rental and other revenue 823,479 680,004
Amortization of deferred capital contributions 690,640 700,355
Residence 670,869 610,850
Purchase of service - government 606,992 560,854
United Way 317,806 318,332
YMCA Management Resource Centre 214,868 168,699
Investment income 161,779 117,420
Gain on disposal of capital assets 24,864 41,500
19,769,267 17,378,450
Expenses
Salaries, wages and benefits 10,197,059 8,933,057
Occupancy and maintenance 2,823,668 2,922,561
Supplies 1,318,933 1,263,551
Purchased services and insurance 671,783 485,842
Other expenses 606,647 611,545
Communications 558,223 488,174
Training and travel 430,782 354,519
Interest on long term debt and capital leases 406,813 380,943
YMCA Management Resource Centre 211,472 165,303
Amortization 1,724,871 1,600,862
18,950,251 17,206,357
Excess of revenue over expenses $ 819,016 $ 172,093
Statement of Financial Position - December 31
Assets 2006 2005
Current assets $ 5,064,873 $ 6,260,482
Long term investments 1,208,561 1,170,024
Capital assets 31,364,426 23,252,772
Deferred campaign and holding costs 852,515 698,262
$ 38,490,375 $31,381,540
Liabilities
Current liabilities $ 4,543,577 $ 4,037,301
Obligations under capital leases 199,983 102,667
Long term debt 9,392,743 6,801,720
Deferred capital contributions 21,421,965 18,401,761
35,558,268 29,343,449
Net Assets
Externally restricted 530,160 503,470
Investment in capital assets 3,125,051 3,239,330
Unrestricted (723,104) (1,704,709)
2,932,107 2,038,091
$ 38,490,375 $ 31,381,540
AUDITORS’ REPORT
ON SUMMARIZED
FINANCIAL STATEMENTS
To the Members of The Young Men’s
Christian Association of Edmonton
The accompanying summarized statement
of financial position and statement
of operations are derived from the
complete financial statements of The
Young Men’s Christian Association of
Edmonton as at December 31, 2006
and for the year then ended on which
we expressed an opinion without
reservation in our report dated
March 13, 2007. The fair summarization
of the complete financial statements is
the responsibility of management.
Our responsibility, in accordance with
the applicable Assurance Guideline
of the Canadian Institute of Chartered
Accountants, is to report on the
summarized financial statements.
In our opinion, the accompanying
financial statements fairly summarize,
in all material respects, the related
complete financial statements in
accordance with the criteria described
in the Guideline referred to above.
These summarized financial statements
do not contain all the disclosures
required by Canadian generally accepted
accounting principles. Readers are
cautioned that these statements may
not be appropriate for their purposes.
For more information on the entity’s
financial position and results of
operations, reference should be made
to the related complete financial
statements.
Grant Thornton LLP
Chartered Accountants
Edmonton, Canada - March 13, 2007
2 0 0 6 Y M C A O F E D M O N T O N A N N U A L R E P O R T