2000 (70KB) - Algonquin College

THE ALGONQUIN COLLEGE OF APPLIED ARTSAND TECHNOLOGYStatement of Financial PositionMarch 31, 2000, with comparative figures for 1999Assets2000 1999Current assets:Cash $10,051,066 $ 3,235,468Accounts receivable 6,967,791 8,751,741Inventory (note 3) 1,153,475 1,107,095Prepaid expenses 269,382 306,70518,441,714 13,401,009Loan receivable (note 4) 1,196,950 1,368,520Investments (note 5) 1,183,302 884,002Capital assets (note 6) 61,420,437 50,522,978Liabilities and Net Assets$82,242,403 $66,176,509Current liabilities:Accounts payable and accrued liabilities $ 8,032,688 $ 8,465,944Accrued salaries and employee deductions payable 1,079,111 3,731,649Deferred revenue (note 7(a)) 8,601,965 6,111,140Current portion of long-term debt (note 8) 570,000 1,270,00018,283,764 19,578,733Long-term debt (note 8) 8,778,681 1,960,000Long-term deferred revenue (note 7(b)) 5,922,883 1,316,103Deferred capital contributions (note 9) 33,003,631 31,524,485Net assets:Unrestricted (5,896,290) (6,026,129)Investment in capital assets (note 10(a)) 19,068,125 15,768,493Internally restricted (note 11) 1,848,307 1,098,372Endowments (note 12) 1,233,302 956,45216,253,444 11,797,188Commitments (note 15)Contingencies (note 16)$82,242,403 $66,176,509See accompanying notes to financial statements.On behalf of the Board of Governors:____________________________Chairman_________________________Member1