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Ontario Innovation Trust - Financial Statements Highlights - 2001
Non-Consolidated Balance Sheet as at March 31
ASSETS
2001
2000
Current assets
     Cash
$ 21,745
$ 43,024
     Accrued interest receivable
4,407,399
427,400
     Accounts receivable
195,451
-
     Prepaid expenses
233,536
5,560
     Short-term investments
670,108,424
257,747,750
674,966,555
258,223,734
Capital assets
140,816
90,948
$ 675,107,371
$ 258,314,682
LIABILITIES AND CAPITAL
Current liabilities - accounts payable and accrued liabilities
$ 402,019
$ 57,789
Capital
     Invested in capital assets
140,816
90,948
     Restricted for approved grants (internally restricted)
245,990,763
158,337,444
     Unrestricted
428,573,773
99,828,501
674,705,352
258,256,893
$ 675,107,371
$ 258,314,682
Non-Consolidated Statement of Operations and Capital
Year Ended March 31
2001
2000
Revenue
     Interest income
$ 34,932,495
$ 11,236,021
     Rental income
12,000
-
34,944,495
11,236,021
Expenses
     Investment custody services
501,039
185,400
     Consulting and management services
805,947
117,122
     Salaries and benefits
216,269
84,602
     Professional fees
57,788
36,587
     Office and general
128,828
20,550
     Travel
62,740
7,674
     Rent
62,260
4,855
     Amortization
63,964
2,338
1,898,835
459,128
Excess of revenue over expenses
33,045,660
10,776,893
Sponsor contribution from the Government of Ontario,
Ministry of Energy, Science and Technology
500,000,000
250,000,000
Eligible project disbursements
(116,597,201)
(2,520,000)
Increase in capital during the year
416,448,459
258,256,893
Capital, beginning of year
258,256,893
-
Capital, end of year
$ 674,705,352
$ 258,256,893
Non-Consolidated Statement of Changes in Capital
Year Ended March 31
2001
2000
Invested in
Capital Assets
Restricted for
Approved Grants
(Internally Restricted)
Unrestricted
Total
Total
Capital, beginning
of year
$      90,948
158,337,444
99,828,501
$ 258,256,893
$                   -
Excess of revenue
over expenses
(63,964)
-
33,109,624
33,045,660
10,776,893
Sponsor contribution
-
-
500,000,000
500,000,000
250,000,000
Purchase of
capital assets
113,832
-
(113,832)
-
-
Grants approved
-
204,250,520
(204,250,520)
Eligible project
disbursements
-
(116,597,201)
-
(116,597,201)
(2,520,000)
Capital, end of year
$ 140,816
245,990,763
428,573,773
$ 674,705,352
$ 258,256,893
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