Torch - Fall/Winter 2018-19

Financial Information

Havergal College Consolidated Statement of Financial Position

The Havergal College Foundation Balance Sheet

AS AT JUNE 30

2018

AS AT JUNE 30

2018

2017

2017

$

$

$

$

ASSETS Current Cash and cash equivalents Tuition fees receivable Other accounts receivable

ASSETS Cash and cash equivalents

4,124,142 27,311,248 31,435,390

3,529,528 25,240,894 28,770,422

39,975,306 1,471,385

41,980,465 1,347,245

Other investments

325,410 283,100

247,853 425,673

Other

LIABILITIES Payable to Havergal College

Total current assets

42,055,201 2,064,579 34,853,367 78,973,147

44,001,236 1,384,020 29,820,648 75,205,904

16,297

8,933

Deferred pension asset

FUND BALANCES General Fund

Capital assets, net

1,405,665 4,866,307 25,147,121 31,435,390

1,267,761 3,983,924 23,509,804 28,770,422

Total assets

Restricted Fund Endowment Fund

LIABILITIES AND NET ASSETS Current Accounts payable and accrued liabilities

4,475,507 26,186,608 30,662,115 10,311,054

5,297,945 25,654,855 30,952,800 10,260,713

Prepaid tuition fees

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:

Total current liabilities

Deferred capital contributions,

other liabilities Total liabilities

40,973,169

41,213,513

AS AT JUNE 30

2018

2017

$

$

Net assets Unrestricted

27,062,578 10,937,400 37,999,978

24,364,191 9,628,200 33,992,391

695,260 415,054 173,200

Student assistance Program enrichment Capital asset acquisitions

723,865 404,100 171,128

Internally restricted

Total net assets

Total liabilities and net assets

78,973,147

1,283,514

75,205,904

1,299,093

38  HAVERGAL COLLEGE