SUMMARY STATEMENT OF FINANCIAL POSITION
As at December 31
2016 2015
ASSETS
Cash and cash equivalents
$27,333,907
$28,097,450
Accounts receivable
933,950
1,011,408
Prepaid expenses
436,647
403,845
Investments
50,543,913
50,085,129
Capital assets
10,737,540
10,726,155
$89,985,957
$90,323,987
LIABILITIES
Accounts payable and accrued liabilities
$6,528,693
$5,917,333
Due to Ministry of Health and Long-Term Care
0
1,288,849
Administered programs
64,497
152,978
Capital lease obligations
878,014
507,028
Deferred revenue
27,528,513
26,501,566
Accrued pension cost
5,472,074
5,445,028
$40,471,791
$39,812,782
NET ASSETS
Invested in capital assets
9,859,526
10,219,127
Building fund
39,654,640
40,292,078
Unrestricted
312,159
197,648
Pension remeasurements
(312,159)
(197,648)
49,514,166
50,511,205
$89,985,957
$90,323,987
Summary Statement of Operations
For the year ended December 31
2016 2015
REVENUES
Membership fees, net of credit card charges
$57,068,150
$55,117,084
Application fees
5,483,734
5,276,453
Investment income
1,015,005
1,428,933
Other income
4,286,327
4,394,044
Total Revenues
$67,853,216
$66,216,514
EXPENSES
Committee costs
$15,288,667
$14,262,194
Staffing costs
43,485,099
39,109,208
Department costs
7,020,345
6,389,811
Depreciation of capital assets
1,270,931
1,289,327
Occupancy
1,670,702
1,542,677
Total Expenses
$68,735,744
$62,593,217
Excess of revenues over expenses (expenses over revenues) for the year ($882,528)
$ 3,623,297
42
COLLEGE OF PHYSICIANS AND SURGEONS OF ONTARIO