français
Ontario Innovation Trust - Financial Statement Highlights - 2005
Balance Sheet as at March 31
ASSETS
2005
2004
Current assets
    Cash $ 89,638 $ 83,609
    Accounts receivable - 9,058
    Prepaid expenses 2,388 28,194
    Short-term investments 273,523,466 348,818,042
    Due from Innovation Institute of Ontario - 80,000
273,615,492
349,018,903
Due from Innovation Institute of Ontario
160,000
160,000
Property and equipment
53,239
53,239
$ 273,913,893 $ 349,232,142
LIABILITIES AND CAPITAL
Current liabilities
Accounts payable and accrued liabilities
$ 115,224
$ 130,641
Due to Innovation Institute of Ontario
176,364
275,702
291,588
406,343
Capital
    Invested in property and equipment 138,401 53,239
    Restricted for approved grants (internally restricted) 271,664,617 217,471,535
    Unrestricted 1,819,287 131,301,025
273,622,305 348,825,799
273,913,893 $ 349,232,142
Statement of Operations and Capital
Year Ended March 31
2005
2004
Revenue
    Interest income $ 7,730,308 $ 12,792,442
Expenses
    Service fees paid to Innovation Institute of Ontario 615,250 668,750
    Consulting and management services 559,107 521,626
    Salaries and benefits 456,653 440,911
    Investment and custody services 303,788 350,198
    Board and committee 36,710 32,171
    Cancer Initiative Working Group 34,046 517,135
    Office and general 33,222 39,614
    Professional fees 25,748 35,116
    Amortization 11,032 11,740
    Travel 10,326 20,803
2,638,064
2,638,064
Excess of revenue over expenses 10,154,378 10,154,378
Sponsor contribution from the Government of Ontario,
    Ministry of Energy, Science and Technology		 - (300,000,000)
Eligible project disbursements (80,847,920) (140,170,522)
Increase (decrease) in capital during the year (75,203,494) (430,016,144)
Capital, beginning of year 348,825,799 778,841,943
Capital, end of year $ 273,622,305 $ 348,825,799
Statement of Changes in Capital
Year Ended March 31
2005
2004
Invested
in Property and Equipment
Restricted
for Approved Grants
(Internally Restricted)
Unrestricted
Total
Total
Capital, beginning of year
$53,239
 217,471,535 131,301,025 $ 348,825,799 $ 778,841,943
Excess (deficiency) of revenue over expenses (11,032) - 5,655,458 5,644,426 10,154,378
Sponsor contribution - - - - (300,000,000)
Purchase of property and equipment 96,194 - (96,194) - -
Eligible project disbursements - (80,847,920) - (80,847,920) (140,170,522)
Grants approved - 135,041,002 (135,041,002) - -
Capital, end of year $ 138,401 271,664,617 1,819,287 $ 273,622,305 348,825,799
• Download Complete Financial Statement – pdf