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FINANCE/
GOVERNANCE
Balance Sheet
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FINANCE/GOVERNANCE
Balance Sheet
MARCH 2008
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For Periods Ended |
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ASSETS
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March 31, 2008 |
June 30, 2007 |
Variance |
Current Assets |
|
|
|
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Cash |
2,670
|
8,144 |
(5,474)
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St. Kevin Endowment |
2,068,824 |
2,362,105 |
(293,281)
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Total Cash and Investments |
2,071,494
|
2,370,249 |
(298,755)
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Accounts Receivable |
28,882 |
-) |
28,882 |
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Prior Year Tuition Receivable |
|
42,541 |
(11,812) |
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Total Current Assets |
2,131,105
|
2,412,790 |
(281,685)
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Fixed Assets |
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Equipment and Furnishings |
72,824)
|
72,824) |
-) |
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Church Building |
1,137,614)
|
1,137,614) |
-) |
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Rectory |
332,582)
|
332,582) |
-)
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Classroom Building |
2,339,868)
|
2,339,868) |
-)
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Land |
41,593)
|
41,593) |
-)
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Project 2000 Bldg. in Progress |
3,572,014)
|
3,572,014) |
-)
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Total Fixed Assets |
7,496,495)
|
7,496,495) |
-) |
Total Assets |
9,627,600
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9,909,285 |
(281,685)
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LIABILITIES and EQUITY |
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Current Liabilities |
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Accounts Payable |
7,272
|
963 |
6,309
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Payroll Withholding |
3,376
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(1,440) |
4,816 |
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Total Current Liabilities |
10,648
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(477) |
11,125 |
Other Liabilities |
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Deferred Income - Tuition |
|
37,309 |
(37,309)
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Deferred Income-Support-A-Student |
58,570
|
31,751 |
26,819
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Prepaid Expenses |
- |
8,362 |
(8,362) |
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Other Deferred Income |
1,224
|
6,930 |
(5,706)
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Prior Year Tuition |
30,729
|
42,541 |
(11,812) |
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Designated Improvements |
21,852
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35,055 |
(12,203) |
Other Flow-Thru Liabilities |
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Archdiocesan Collections |
4,717
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3,368 |
1,349
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Vacation Bible Camp |
(879) |
3,963 |
(4,842) |
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Parish Associations |
33,446
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60,527 |
(27,081)
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School Lunch Program |
4,047
|
3,625 |
422 |
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Total Other Liabilities |
153,706
|
232,431 |
(78,725)
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Long-Term Liabilities |
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Notes Payable |
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AIB Term Loan |
302,440 |
383,185 |
(80,745) |
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AIB Line of Credit |
1,499,871) |
1,499,871) |
-) |
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ABN AMRO |
2,138 |
18,864 |
(16,726) |
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Total Long-Term Liabilities |
1,804,449) |
1,901,920 |
(97,471) |
Archdiocese Payables |
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Parish Assessment |
410,533 |
365,158 |
45,375 |
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General Insurance |
159,620 |
159,620 |
- |
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Pension Plan |
197,946 |
194,995 |
2,951 |
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Employee Benefits |
27,359 |
41,803 |
(14,444) |
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Total Archdiocese Payables |
795,458 |
761,576 |
33,882 |
Total Liabilities |
2,764,261 |
2,895,450 |
(131,189) |
Equity |
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Accumulated Earnings |
7,013,835 |
6,945,212 |
-) |
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Current Year Retained Earnings |
(150,496) |
68,623 |
-) |
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Total Equity |
6,863,339 |
7,013,835 |
(150,496) |
Total Liabilities and Equity |
9,627,600 |
9,909,285 |
(281,685) |
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