Financials
COSTI Immigrant Services
Statement of Financial Position
As at March 31, 2023
| Operating Fund | Capital Fund | Special Fund | Total 2023 | ||
|---|---|---|---|---|---|
| Assets | |||||
| Current | |||||
| Cash (Note 3) | $2,386,805 | $– | $– | $2,386,805 | $7,445,446 |
| Short-term investments (Note 4) | $12,000,000 | $– | $– | $12,000,000 | $2,000,000 |
| Grants and Subsidies receivable | $7,124,321 | $– | $– | $7,124,321 | $5,581,590 |
| Miscellaneous accounts and other receivables (Note 12) | $3,405,680 | $– | $– | $3,405,680 | $2,094,469 |
| Receivable from MLTSD | $244,789 | $– | $– | $244,789 | $387,283 |
| Prepaid expenditures | $1,010,592 | $– | $– | $1,010,592 | $850,824 |
| Interfund balances (Note 5) | $(8,471,128.00) | $– | $8,471,128 | $– | $– |
| $17,701,059 | $– | $8,471,128 | $26,172,187 | $18,359,612 | |
| Capital assets (Note 6) | $– | $7,995,021 | $– | $7,995,021 | $8,572,514 |
| $17,701,059 | $7,995,021 | $8,471,128 | $34,127,208 | $26,932,126 | |
| Liabilities and Net Assets | |||||
| Current | |||||
| Accounts payable and accrued liabilities (Note 7) | $7,405,927 | $– | $– | $7,405,927 | $7,742,573 |
| Deferred contributions (Notes 8 and 9) | $8,834,886 | $138,725 | $– | $8,973,611 | $7,927,233 |
| Current portion of lease inducement | $7,308 | $– | $– | $7,308 | $7,308 |
| Current portion of mortgage payable | $– | $– | $– | $– | $86,037 |
| $16,248,121 | $138,725 | $– | $16,386,846 | $15,133,151 | |
| Deferred contributions related to capital assets (Note 9) | $– | $1,015,632 | $– | $1,015,632 | $1,153,151 |
| Deferred lease indicement | $34,715 | $– | $– | $34,715 | $42,024 |
| $16,282,836 | $1,154,357 | $– | $17,437,193 | $16,328,723 | |
| Net Assets – Fund balances | $1,418,233 | $6,800,664 | $8,471,128 | $16,690,015 | $10,603,403 |
| $17,701,059 | $7,955,021 | $8,471,128 | $34,127,208 | $26,932,126 | |
Commitments (Note 11)
Contingent liabilities (Note 13)
Statement of Operations
Year Ended March 31, 2023
| Operating Fund | Capital Fund | Special Fund | Total 2023 | ||
|---|---|---|---|---|---|
| Revenue | |||||
| Government grants and subsidies (Schedule 1) | $84,659,651 | $137,916 | $– | $84,797,567 | $49,524,891 |
| WCG International Consultants Ltd. (Schedule 1) | $2,678,485 | $– | $– | $2,678,485 | $1,920,178 |
| Fees for services (Schedule 2) | $1,264,366 | $– | $– | $1,264,366 | $805,925 |
| United Way Greater Toronto | $808,059 | $– | $– | $808,059 | $777,942 |
| Foundation grants (Schedule 1) | $327,252 | $– | $– | $327,252 | $416,030 |
| Partnership revenue (Schedule 1) | $319,580 | $– | $– | $319,580 | $283,892 |
| Income from property | $242,595 | $– | $– | $242,595 | $238,536 |
| Donations, memberships and fundraising | $147,006 | $– | $– | $147,006 | $237,165 |
| Government assistance | $– | $– | $– | $– | $80,949 |
| $90,446,994 | $137,916 | $– | $90,584,910 | $54,285,508 | |
| Expenses (Schedule 3) | |||||
| Salaries and benefits (Note 10) | $26,995,193 | $– | $– | $26,995,193 | $23,681,324 |
| Program partnerships | $441,987 | $– | $– | $441,987 | $604,952 |
| Client program costs | $45,872,731 | $– | $– | $45,872,731 | $20,246,578 |
| Building occupancy | $5,045,770 | $– | $– | $5,045,770 | $3,328,008 |
| General | $3,199,142 | $– | $– | $3,199,142 | $2,448,684 |
| Office | $1,900,771 | $– | $– | $1,900,771 | $1,327,094 |
| Costs of goods and services sold | $425,211 | $– | $– | $425,211 | $254,615 |
| Amortization | $– | $617,493 | $– | $617,493 | $532,180 |
| $83,880,805 | $617,493 | $– | $84,498,298 | $52,423,435 | |
| Excess (deficiency) of revenue over expenses | $6,566,189 | $(479,577) | $– | $6,086,612 | $1,862,073 |
