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Tourism Saskatchewan - IndustryMatters.com

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AS AT SEPTEMBER 30, 2011<br />

2011 2010<br />

ASSETS<br />

CURRENT<br />

Cash (Note 4) $1,648,608 $720,919<br />

Accounts receivable 486,883 715,273<br />

GST receivable (Note 5) 28,964 224,948<br />

Inventory 8,406 11,685<br />

Prepaid expenses 91,373 57,498<br />

2,264,234 1,730,323<br />

LONG TERM<br />

Capital assets (Note 6) 1,581,681 2,131,570<br />

$3,845,915 $3,861,893<br />

LIABILITIES and NET ASSETS<br />

CURRENT<br />

Accounts payable and accrued liabilities (Note 7) $1,352,764 $1,165,763<br />

Current portion of the leasehold loan (Note 8) - 81,250<br />

Unearned revenue 40,546 19,400<br />

Deferred contributions related to capital assets (Note 9) - 143,334<br />

Deferred grant contribution (Note 9) - 288,125<br />

1,393,310 1,697,872<br />

LONG TERM DEBT<br />

Long term portion of the leasehold loan (Note 8) - 561,979<br />

1,393,310 2,259,851<br />

NET ASSETS<br />

Invested in capital assets 1,581,681 1,345,007<br />

Internal restrictions: (Note 10)<br />

Partnership Marketing Fund 213,407 102,744<br />

President’s Marketing Advisory Fund 41,470 78,521<br />

Education and Training Fund 120,924 8,606<br />

Initiatives Fund 245,123 -<br />

Unrestricted 250,000 67,164<br />

2,452,605 1,602,042<br />

$3,845,915 $3,861,893<br />

Commitments (Note 11)<br />

See ac<strong>com</strong>panying notes to financial statements.<br />

APPROVED BY THE BOARD:<br />

Director<br />

Director<br />

44

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