2009-2010 Annual Report - St. Mary's Central High School

SMCHS
Facts and History
• In 1916, the first high school
classes were offered.
• The spring of 1922 brought
the first graduation at St.
Mary’s High School - four
girls.
• SMCHS was built on its
current site in 1951.
• The Music Department
addition of the high school
was built in 1989.
• The “new gym,” aka. Kelsch
Gym, Library, Bishop Ryan
Chapel, Art Room, Kilzer
Conference Room and
Elevator wing was built in
1997.
• SMCHS is owned by the
five Catholic parishes of
Bismarck.
• SMCHS has two full
computer labs with internet
access and a multi-media
library.
• Scholarship and work-study
opportunities are available to
help defray the cost.
• SMCHS is the oldest
Catholic high school in the
state of North Dakota.
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ASSETS
St. Mary’s Central High School
Combined Statement of Financial Position
July 31, 2010
Current Assets
Cash and cash equivalents 387,259
Investments 414,959
Tuition receivable, net of allowance
for doubtful accounts of $25,900 25,812
Parish subsidy receivable -
Accrued interest receivable 3,229
Total Current Assets $ 831,259
Fixed Assets
Buildings 3,668,465
Buses 137,170
Equipment 314,207
Accumulated Depreciation (2,004,465)
LIABILITIES AND NET ASSETS
Total Fixed Assets 2,115,377
Total Assets $ 2,946,636
Current Liabilities
Accounts payable $ 41,011
Current Portion-Long Term Note 229,850
Accrued Payroll Liabilities 1,405
Tuition Advance 91,038
Total Current Liabilities 363,304
Long-term liabilities
Note Payable - Diocese
Cornerstone Bank Loan 12,826
Total Long Term Liabilities 12,826
Net assets
Unrestricted net assets 1,901,649
Temporary restricted net assets 668,857
Total Net Assets 2,570,506
Total Liabilities and Net Assets $ 2,946,636
Certain procedures were performed on the SMCHS 2009-2010 Financial Statement shown above.
This report is available for review in the administration office by appointment.