Annual Report 2010/11

Notes to the Consolidated Financial StatementsFor the Year Ended June 30, 2011 (thousands of dollars)The impact on the prior year’s financial statements as a result of these changes is as follows:2010As Previously AdjustmentRecorded recorded As restatedIncrease (decrease) in:Consolidated Statement of Financial PositionCash and cash equivalents (Note 4) $ 76,734 $ 1,272 $ 78,006Accounts receivable 5,245 (897) 4,348Inventories and prepaid expenses 3,915 1,065 4,980Capital assets and collections (Note 6) 268,671 (13,378) 255,293Accounts payable and accrued liabilities 19,083 1,293 20,376Current portion of long term liabilities (Note 10) 2,385 (867) 1,518Unamortized deferred capital contributions (Note 8) 153,164 (5,443) 147,721Long term liabilities (Note 10) 48,762 (1,197) 47,565Investment in capital assets and collections (Note 13) 64,360 (5,870) 58,490Unrestricted net assets 1,330 144 1,474Consolidated Statement of OperationsGovernment of Alberta grants 111,953 323 112,276Student tuition and fees 64,421 409 64,830Sales of services and products 26,829 (101) 26,728Amortization of deferred capital contributions (Note 8) 6,882 (779) 6,103Employee benefits 17,249 (238) 17,011Materials, supplies and services 31,956 2,323 34,279Amortization of capital Assets 15,203 (3,531) 11,672Note 4Cash and Cash EquivalentsCash and Cash Equivalents with a maximum maturity of 90 days at date of purchase are as follows:2011 2010Cash $ 59,123 $ 78,006Note 5InvestmentsThe composition, fair value, and annual market yields on investments are as follows:2011 2010Market ValueMarket ValueShort-term GIC $ 25,471 $ 25,063Pooled fundsCommon stocks and equivalents 31,133 23,558Fixed income securities 26,136 19,954Cash and equivalents 2,328 2,712Cash holdings 2,129 2,260Cash surrender value of planned gifts (life insurance policies) 766 741other 18 18$ 87,981 $ 74,306Short-term investments 25,471 25,063Long-term and other investments 62,510 49,243$ 87,981 $ 74,306 48 grant Macewan university