2008-09 Annual Report - Central East Local Health Integration ...

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26 Significant accounting policies (continued) Use of estimates The preparation of financial statements in conformity with Canadian generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 3. Funding repayable to the MOHLTC In accordance with the MLAA, the LHIN is required to be in a balanced position at year end. Thus, any excess of funding received in excess of expenses incurred, is required to be returned to the MOHLTC. a) The amount repayable to the MOHLTC related to current year activities is made up of the following components: Transfer payments to HSPs 1,837,250,608 LHIN operations 4,539,126 Aging at Home - ED Lead 75,000 ER/ALC 33,300 Aboriginal Planning 32,250 E-Health 700,000 1,842,630,284 2009 2008 Revenue Expenses Surplus Surplus $ $ $ $ 1,837,250,608 4,524,969 - 75,000 33,300 32,015 685,442 1,842,601,334 b) The amount due to the MOHLTC at March 31 is made up as follows: - 14,157 - - - 235 14,558 28,950 Due to MOHLTC, beginning of year 869,115 Recovery by MOHLTC during the year Funding repayable to the MOHLTC related to (869,115) current year activities (Note 3a) 28,950 Due to MOHLTC, end of year 28,950 4. Related party transactions - 460,036 165,497 3,757 - 20,000 38,806 688,096 2009 2008 $ $ 181,019 - 688,096 869,115 The LHIN Shared Services Office (the “LSSO”) is a division of the Toronto Central LHIN and is subject to the same policies, guidelines and directives as the Toronto Central LHIN. The LSSO, on behalf of the LHINs, is responsible for providing services to all LHINs. The full costs of providing these services are billed to all the LHINs. Any portion of the LSSO operating costs overpaid (not paid) by the LHIN at the year end are recorded as a receivable (payable) from (to) the LSSO. This is all done pursuant to the Shared Services Agreement the LSSO has with all the LHINs.
5. Deferred capital contributions Balance, beginning of year 309,822 Capital contributions received during the year 280,717 Amortization for the year (209,814) Balance, end of year 380,725 6. Commitments 2009 2008 $ $ 442,532 39,490 (172,200) 309,822 The LHIN has commitments under various operating leases related to building and equipment. Lease renewals are likely. Minimum lease payments due in each of the next five years and thereafter are as follows: $ 2010 141,154 2011 160,320 2012 186,989 2013 185,171 2014 184,903 Thereafter 288,080 1,146,617 The LHIN also has funding commitments to HSPs associated with accountability agreements. Minimum commitments to HSPs based on the current accountability agreements are as follows: 2010 1,862,209,185 2011 1,888,448,360 3,750,657,545 7. Capital assets Office furniture and fixtures 424,508 Computer equipment 130,493 Web development 36,100 Leasehold improvements 461,553 1,052,654 2009 2008 Accumulated Net book Net book Cost amortization value value $ $ $ $ 239,576 99,920 28,507 303,926 671,929 184,932 30,573 7,593 157,627 380,725 $ 123,157 16,255 19,626 150,784 309,822 27
Page 1 and 2: Authenticity, Abundance and Alignme
Page 3 and 4: Table of Contents MESSAGE FROM OUR
Page 5 and 6: MEMBERS OF THE BOARD Foster Loucks
Page 7 and 8: MINISTRY/LHIN ACCOUNTABILITY AGREEM
Page 9 and 10: Central East LHIN Integrated Health
Page 11 and 12: condition is recognized as a contri
Page 13 and 14: Community Engagement Activities The
Page 15 and 16: Other Engagement Activities In Apri
Page 17 and 18: Governance Toolkit - (http://www.ce
Page 19 and 20: 1. Presentation at Hospital: Risk I
Page 21 and 22: Home at Last Priority Project - LHI
Page 23 and 24: Statement of Financial Position as
Page 25 and 26: Statement of Changes in Net Debt ye
Page 27: Ministry of Health and Long-Term Ca
Page 31 and 32: 10. a) Aging at Home The LHIN did n
Page 33 and 34: STAFF MEMBERS Back Row Kate Reed, J
Page 35: 33 ISSN 1911-3331

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