Page 82 - 2012 | 2013 VANCOUVER ART GALLERY ANNUAL REPORT
P. 82
Interior_Annual Report 13-10-30 4:32 PM Page 80








VANCOUVER ART GALLERY ASSOCIATION
STATEMENT OF FINANCIAL POSITION

As at July 1, 2011 SCHEDULE 2

GENERAL ACQUISITIONS BUILDING
FUND FUND FUND TOTAL

ASSETS
Current assets:
• Cash and cash equivalents $ 36,510 $—$32,107,581 $ 32,144,091
• Short-term investments ——20,309,569 20,309,569
• Grants, pledges, interest and
accounts receivable (note 2) 951,259 100,850 32,933 1,085,042
• Prepaid expenses and exhibition costs 1,606,086 ——1,606,086
• Inventories 1,245,824 ——1,245,824
3,839,679 100,850 52,450,083 56,390,612

Capital assets (note 3) 1,173,329 ——1,173,329

$ 5,013,008 $ 100,850 $ 52,450,083 $ 57,563,941

LIABILITIES AND NET ASSETS
Current liabilities:
• Bank indebtedness (note 4) $ 1,835,000 $—$—$1,835,000
• Outstanding cheques 188,864 ——188,864
• Accounts payable and accrued liabilities (note 5) 2,261,930 258,800 10,308 2,531,038
• Obligations under capital lease —
current portion (note 6) 67,695 ——67,695
• Deferred memberships revenue 366,766 ——366,766
• Deferred contributions (note 7) 258,838 103,000 50,980,034 51,341,872
• Interfund balances 470,716 (472,147) 1,431 —
5,449,809 (110,347) 50,991,773 56,331,235

Obligations under capital lease (note 6) 17,050 ——17,050
Net assets:
• Unrestricted (453,851) 211,197 — (242,654)
• Internally restricted (note 1(a)(iv)) ——1,458,310 1,458,310
(453,851) 211,197 1,458,310 1,215,656


$ 5,013,008 $ 100,850 $ 52,450,083 $ 57,563,941




















80 VANCOUVER ART GALLERY ASSOCIATION
   77   78   79   80   81   82   83   84   85   86   87