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HAVERGAL COLLEGE
Financial Information
AS AT JUNE 30
2014
2013*
$
$
ASSETS
Current
Cash and cash equivalents
29,623,849
25,351,901
Tuition fees receivable
1,592,846
1,732,362
Other accounts receivable
106,433
134,320
Other
361,713
449,175
Total current assets
31,684,841
27,667,758
Deferred pension asset
1,443,089
936,065
Capital assets, net
26,935,456
27,659,333
TOTAL ASSETS
60,063,386
56,263,156
LIABILITIES AND NET ASSETS
Current
Accounts payable and accrued liabilities
3,066,561
3,213,710
Prepaid tuition fees
21,713,461
21,175,074
Total current liabilities
24,780,022
24,388,784
Working capital deposits
-
-
Deferred capital contributions
11,047,198
11,294,557
Total liabilities
35,827,220
35,683,341
Net assets
Unrestricted
17,962,966
15,758,759
Internally restricted
6,273,200
5,092,800
Total net assets
24,236,166
20,851,559
TOTAL LIABILITIES AND NET ASSETS
60,063,386
56,534,900
*Havergal College elected for early adoption of Section 3463 with respect to its reporting of
The Havergal College Pension Plan. Fiscal 2013 statements have been restated to reflect
this change.
AS AT JUNE 30
2014
2013
$
$
ASSETS
Cash and cash equivalents
1,181,549
895,014
Grant receivable
-
25,090
Other investments
20,503,936
17,666,725
21,685,485
18,586,829
FUND BALANCES
General Fund
585,753
388,772
Restricted Fund
2,274,277
2,045,758
Endowment Fund
18,825,455
16,152,299
21,685,485
18,586,829
Grants fromThe 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
2014
2013
$
$
Student assistance
395,000
375,000
Program enrichment
168,670
380,717
Capital asset acquisitions
241,330
46,753
805,000
802,470
Havergal College Foundation Balance Sheet
Havergal College Consolidated Statement of
Financial Position