Royal Ontario Museum Annual Report 2007/2008
Royal Ontario Museum Annual Report 2007/2008
Royal Ontario Museum Annual Report 2007/2008
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oyal ontario MuseuM<br />
incorporated by special act of the ontario legislature as a corporation without share capital<br />
Balance sHeet<br />
[see Basis of Presentation - note 2]<br />
as at March 31<br />
<strong>2008</strong> <strong>2007</strong><br />
$ [000’s] $<br />
Assets<br />
Current<br />
Due from the Province of <strong>Ontario</strong> 12,100 —<br />
Due from The <strong>Royal</strong> <strong>Ontario</strong> <strong>Museum</strong> Foundation [note 13] 1,819 1,089<br />
Other accounts receivable 3,945 4,298<br />
Inventories 134 115<br />
Deferred exhibition costs and other assets 2,502 1,930<br />
Total current assets 20,500 7,432<br />
Deferred pension costs [note 14] 6,890 4,233<br />
Capital assets, net [note 5] 268,848 241,741<br />
Other assets 24 1,114<br />
296,262 254,520<br />
Liabilities and Net Deficit<br />
Current<br />
Bank indebtedness [note 15[a]] 2,488 4,690<br />
Accounts payable and accrued liabilities 11,720 27,784<br />
Current portion of long-term debt [note 15[b]] 25,000 —<br />
Deferred contributions [note 7] 3,323 3,091<br />
Total current liabilities 42,531 35,565<br />
Long-term debt [note 15[b]] 63,640 58,736<br />
Deferred capital contributions [note 8] 186,925 165,791<br />
Accrued non-pension liability [note 14] 3,398 2,937<br />
Total liabilities 296,494 263,029<br />
Net deficit [note 9] (232) (8,509)<br />
296,262 254,520<br />
See accompanying notes<br />
47
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