Joseph Brant Hospital Annual Report | Page 31

Joseph Brant Hospital Foundation Statement of Financial Position
Joseph Brant Hospital Foundation Statement of Operations and Changes in Fund Balances
Joseph Brant Hospital Foundation Statement of Financial Position
MARCH 31 , 2016 , WITH COMPARATIVE INFORMATION FOR 2015

“ The level of care that will be provided at the new Joseph Brant Hospital will have a tremendous impact on the community .”

RON JOYCE
2016
2015
Assets Current assets :
Cash
$ 14,779,163
$
9,971,246
Accounts receivable
206,065
184,962
HST rebate receivable
50,374
123,941
HST parking receivable
–
119,079
Prepaid expenses
8,102
18,700
15,043,704
10,417,928
Capital assets , net ( note 3 )
6,474
89,120
$ 15,050,178
$ 10,507,048
Liabilities and fund balances Current liabilities :
Accounts payable and accrued liabilities ( note 4 )
$ 1,438,984
$
958,864
HST payable
16,046
12,693
Grants payable to Joseph Brant Hospital
433,196
2,480,320
Deferred revenue
28,000
–
1,916,226
3,451,877
Fund balances : Undesignated fund
7,733,963
2,441,413
Designated fund ( note 5 )
4,940,242
4,156,011
Endowment fund
459,747
457,747
13,133,952
7,055,171
Commitments ( notes 7 and 10 )
$ 15,050,178
$ 10,507,048
Joseph Brant Hospital Foundation Statement of Operations and Changes in Fund Balances
YEAR ENDED MARCH 31 , 2016 , WITH COMPARATIVE INFORMATION FOR 2015
Undesignated
Designated
Parking
Endowment
2016
2015
fund
fund
fund
fund
Total
Total
Revenues : Fundraising revenue ( note 8 )
$ 10,968,056
$
1,017,613
$
–
$
1,000
$
11,986,669
$
8,637,118
Parking
–
–
2,866,987
–
2,866,987
2,820,686
Investment income
144,845
17,616
–
–
162,461
160,181
11,112,901
1,035,229
2,866,987
1,000
15,016,117
11,617,985
Expenses : Operating ( note 9 )
2,506,634
–
–
–
2,506,634
2,473,422
Parking ( note 7 ( b ))
–
–
2,168,203
–
2,168,203
2,250,987
2,506,634
–
2,168,203
–
4,674,837
4,724,409
Excess of revenues over expenses before grants 8,606,267 1,035,229 698,784 1,000 10,341,280 6,893,576
Grants ( note 10 )
( 3,289,833 )
( 273,882 )
( 698,784 )
–
( 4,262,499 )
( 11,384,654 )
Excess of revenues over expenses
( expenses over revenue )
5,316,434
761,347
–
1,000
6,078,781
( 4,491,078 )
Fund balance , beginning of year 2,441,413 4,156,011 – 457,747 7,055,171 11,546,249 Interfund transfers ( note 6 ) ( 23,884 ) 22,884 – 1,000 – – Fund balance , end of year $ 7,733,963 $ 4,940,242 $ – $ 459,747 $ 13,133,952 $ 7,055,171
Note : All note references in these statements are to the
Joseph Brant Hospital Foundation ’ s March 31 , 2016 Audited Financial Statements .
Annual Report 2015-2016
31