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HAVERGAL COLLEGE
Financial Information
AS AT JUNE 30
2016
2015
$
$
ASSETS
Current
Cash and cash equivalents
38,794,006
34,731,211
Tuition fees receivable
1,257,036
1,422,262
Other accounts receivable
476,370
223,814
Other
284,672
332,248
Total current assets
40,812,084
36,709,535
Deferred pension asset
2,445,433
2,140,864
Capital assets, net
27,406,338
26,526,095
Total assets
70,663,855
65,376,494
LIABILITIES AND NET ASSETS
Current
Accounts payable and accrued liabilities
4,545,453
3,272,099
Prepaid tuition fees
24,461,657
23,536,554
Total current liabilities
29,007,110
26,808,653
Deferred capital contributions,
other liabilities
10,427,764
10,685,295
Total liabilities
39,434,874
37,493,948
Net assets
Unrestricted
22,637,581
20,176,646
Internally restricted
8,591,400
7,705,900
Total net assets
31,228,981
27,882,546
Total liabilities and net assets
70,663,855
65,376,494
AS AT JUNE 30
2016
2015
$
$
ASSETS
Cash and cash equivalents
1,646,208
1,720,772
Other investments
22,809,492
22,062,571
24,455,700
23,783,343
LIABILITIES
Payable to Havergal College
216,265
–
FUND BALANCES
General Fund
868,663
852,622
Restricted Fund
2,457,533
2,381,170
Endowment Fund
20,913,239
20,549,551
24,455,700
23,783,343
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:
AS AT JUNE 30
2016
2015
$
$
Student assistance
569,945
525,000
Program enrichment
504,119
234,448
Capital asset acquisitions
247,484
141,552
1,321,548
901,000
The Havergal College Foundation Balance Sheet
Havergal College Consolidated Statement of
Financial Position