Consolidated Balance Sheet as at December 31, 2008
(in thousands of dollars)
| 2008 | 2007 | |
|---|---|---|
| $ | $ | |
Assets |
||
Current assets |
||
| Cash | 1,046 | 717 |
| Short-term investments – at market, including accrued interest | 16,209 | 16,834 |
| Accounts receivable | 589 | 647 |
| Prepaid expenses | 173 | 106 |
| 18,017 | 18,304 | |
Deferred election costs |
56 | 169 |
Property and equipment(note 3) |
3,750 | 3,929 |
| 21,823 | 22,402 | |
Liabilities |
||
Current liabilities |
||
| Accounts payable and accrued liabilities | 3,688 | 3,004 |
| Deferred revenue | 1,199 | 719 |
| 4,887 | 3,723 | |
Deferred capital contribution |
654 | 879 |
Deferred lease inducements(note 6(a)) |
776 | 974 |
Members’ Equity (note 4) |
||
Invested in property and equipment(note 5) |
2,320 | 2,076 |
Internally restricted |
||
| Reserve for working capital | 3,188 | 5,446 |
| Reserve for fee stabilization | – | 2,804 |
| Reserve for stabilization of facility costs | 9,498 | 6,000 |
Unappropriated balance |
500 | 500 |
| 15,506 | 16,826 | |
| 21,823 | 22,402 | |
Commitments(note 6) |
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On Behalf of the Council
Don Cattani
Council Chair
Brian P. McGowan
Registrar and Chief Executive Officer