Victoria Airport Authority Annual Report 2012
Victoria Airport Authority Annual Report 2012
Victoria Airport Authority Annual Report 2012
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VAA STATEMENT OF FINANCIAL POSITION<br />
December 31, <strong>2012</strong>, with comparative information for 2011<br />
<strong>2012</strong> 2011<br />
Assets<br />
Current assets:<br />
Cash and cash equivalents $7,207,507 $3,967,893<br />
Accounts receivable 1,813,331 1,743,463<br />
Inventory 236,061 249,922<br />
Prepaid expenses 279,347 286,086<br />
9,536,246 6,247,364<br />
Tangible capital assets (note 3) 70,635,557 69,491,800<br />
$80,171,803 $75,739,164<br />
Liabilities and Net Assets<br />
Current liabilities:<br />
Accounts payable and accrued liabilities $2,619,900 $2,260,725<br />
Deferred revenue 261,723 170,993<br />
Current portion of long-term debt 1,800,000 1,800,000<br />
Current portion of retirement allowance liability 30,828 30,828<br />
Current portion of future rent payments 22,481 22,481<br />
4,734,932 4,285,027<br />
Long-term debt (note 4(a)) 5,850,000 7,650,000<br />
Retirement allowance liability (note 5) 804,687 811,758<br />
Future rent payments (note 6(a)(ii)) 44,963 67,445<br />
Tenants’ security deposits 121,525 106,650<br />
Net assets:<br />
11,556,107 12,920,880<br />
Invested in tangible capital assets 62,985,557 60,041,800<br />
Unrestricted net assets 5,630,139 2,776,484<br />
Commitments (note 6, note 11(b))<br />
Contingent liabilities (note 13)<br />
68,615,696 62,818,284<br />
$80,171,803 $75,739,164<br />
See accompanying notes to financial statements .<br />
On behalf of the Board:<br />
Director<br />
Director<br />
<strong>2012</strong> ANNUAL REPORT |<br />
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