siast 2006-2007 annual report - Saskatchewan Institute of Applied ...

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
Year ended June 30, 2007
(in thousands of dollars)
17. Change in non-cash working capital:
2007 2006
Accounts receivable $ (332 ) $ 1,837
Inventories (431) 350
Prepaid expenses (74 ) (238)
Accounts payable and accrued liabilities 1,804 2,285
Salaries and benefits payable 126 1,577
Unearned revenue
Deferred grants:
2,397 265
Saskatoon Trades and Skills Centre 17,181 -
SIAST programming 8,283 (2,365)
$ 28,954 $ 3,711
18. Financial assets and liabilities:
Cash, short-term investments, accounts receivable, accounts payable and accrued liabilities and salaries and benefits payable are all short-term in nature and, as
such, their carrying value approximates fair value.
19. Related parties:
These financial statements include transactions with related parties. SIAST is related to all Saskatchewan Crown corporations, departments, boards and
commissions under the common control of the Government of Saskatchewan. SIAST is also related to non-Crown enterprises subject to joint control and
significant influence by the Government of Saskatchewan. During the year, SIAST recognized grant revenue from the Department of Advanced Education and
Employment (AEE) for operations and rent in the amount of $119,283 (2006 – $106,301).