Joseph Brant Hospital Annual Report | Page 25

Statement of Operations
YEAR ENDED MARCH 31, 2016, WITH COMPARATIVE INFORMATION FOR 2015
Operating
Restricted
Total
Total
fund
fund
2016
2015
Revenues: Sales
$
1,862,225
$
76,323
$
1,938,548
$ 1,855,005
Fundraising activities
120,498
-
120,498
112,583
Television and wireless internet rental
32,423
-
32,423
38,527
Interest and miscellaneous income
4,050
208
4,258
5,317
2,019,196
76,531
2,095,727
2,011,432
Expenses: Cost of sales
691,079
50,336
741,415
702,141
Salaries and benefits
714,317
-
714,317
672,369
Royalties and advertising levy( note 7)
101,492
-
101,492
94,971
General
75,437
-
75,437
74,832
Auxiliary drink tickets
19,783
-
19,783
19,442
Professional fees
17,967
-
17,967
10,602
Repairs and maintenance
15,957
-
15,957
11,619
Depreciation and amortization
10,556
-
10,556
10,326
Administrative
8,798
-
8,798
7,950
License
-
4,985
4,985
5,419
Tickets
-
3,743
3,743
4,004
Loss on disposal of capital assets
1,069
-
1,069
-
Advertising
178
-
178
185
Other
34,396
170
34,566
42,954
1,691,029
59,234
1,750,263
1,656,814
Excess of revenues over expenses before
the undernoted
$
328,167
$
17,297
$
345,464
$
354,618
Donations to Joseph Brant Hospital
Foundation
( 299,324)
( 15,000)
( 314,324)
( 346,625)
Excess of revenues over expenses
$
28,843
$
2,297
$
31,140
$
7,993
Balance, beginning of year
$
158,119
$
1,209
$
159,328
$
151,335
Balance, end of year
$
186,962
$
3,506
$
190,468
$
159,328
Balance Sheet
MARCH 31, 2016, WITH COMPARATIVE INFORMATION FOR 2015 2016 2015
Assets Current assets:
Cash
$
510,460
$ 511,352
Accounts receivable
15,143
17,519
Inventories
87,454
75,804
Prepaid expenses
8,830
5,455
621,887
610,130
Capital assets, net of accumulated depreciation( note 2) 32,103 32,302
Intangible asset, net of accumulated amortization( note 3) 2,500 4,500
Restricted assets: Cash
15,834
13,490
Prepaid expenses
190
2,489
16,024
15,979
$
672,514
$ 662,911
2016 2015
Liabilities and Surplus Current liabilities:
Accounts payable and accrued liabilities( note 4)
$
119,881
$ 118,160
Deferred revenue
6,000
–
Due to Joseph Brant Hospital( note 5)
356,165
385,423
482,046
503,583
Net assets: Operating fund
186,962
158,119
Restricted fund
3,506
1,209
190,468
159,328
$ 672,514 $ 662,911
Annual Report 2015-2016 25