|
For The Year Ended |
|
ASSETS
|
June 30, 2007 |
June 30, 2006 |
Variance |
Current Assets |
|
|
|
|
Cash |
8,144
|
25,658 |
(17,424)
|
|
St. Kevin Endowment |
2,362,105 |
2,181,629 |
180,476
|
|
Total Cash and Investments |
2,370,249
|
2,207,197 |
163,052
|
|
Prior Year Tuition Receivable |
|
37,888 |
4,653 |
|
Total Current Assets |
2,412,790
|
2,245,085 |
167,705
|
Fixed Assets |
|
|
|
|
Equipment and Furnishings |
72,824
|
72,824 |
- |
|
Church Building |
1,137,614)
|
1,137,614 |
- |
|
Rectory |
332,582)
|
332,582) |
-)
|
|
Classroom Building |
2,339,868)
|
2,339,868) |
-)
|
|
Land |
41,593)
|
41,593) |
-)
|
|
Project 2000 Bldg. in Progress |
3,572,014)
|
3,572,014) |
-)
|
|
Total Fixed Assets |
7,496,495)
|
7,496,495 |
- |
Total Assets |
9,909,285
|
9,741,580 |
167,705 |
|
|
|
|
LIABILITIES and EQUITY |
|
|
|
Current Liabilities |
|
|
|
|
Accounts Payable |
963
|
- |
963
|
|
Payroll Withholding |
(1,440)
|
- |
(1,440) |
|
Total Current Liabilities |
(477)
|
- |
(477) |
Other Liabilities |
|
|
|
|
Deferred Income - Tuition |
37,309
|
33,790 |
3,519
|
|
Deferred Income-Support-A-Student |
31,751
|
55,681 |
(23,930)
|
|
Other Deferred Income |
6,930
|
2,810 |
4,120
|
|
Prepaid Expenses |
8,362 |
- |
8,362 |
|
Prior Year Tuition |
42,541
|
37,888 |
4,653 |
|
Designated Improvements |
34,055
|
(653) |
34,708 |
Other Flow-Thru Liabilities |
|
|
|
|
Archdiocesan Collections |
3,368
|
2,067 |
1,301
|
|
Vacation Bible Camp |
3,963 |
- |
3,963 |
|
Parish Associations |
60,527
|
61,293 |
(766)
|
|
School Lunch Program |
3,625
|
8,903 |
(4,468) |
|
Total Other Liabilities |
232,432
|
200,968 |
31,463
|
Long-Term Liabilities |
|
|
|
|
Notes Payable |
|
|
|
|
AIB Term Loan |
383,185 |
474,711 |
(91,526) |
|
AIB Line of Credit |
1,499,871) |
1,499,871) |
- |
|
ABN AMRO |
18,864 |
42,744 |
(23,880) |
|
Total Long-Term Liabilities |
1,901,920 |
2,017,326 |
(115,406) |
Archdiocese Payables |
|
|
|
|
Parish Assessment |
365,158 |
305,432 |
59,726 |
|
General Insurance |
159,620 |
124,013 |
35,607 |
|
Pension Plan |
194,995 |
148,628 |
46,366 |
|
Employee Benefits |
41,803 |
- |
41,803 |
|
Total Archdiocese Payables |
761,576 |
578,073 |
183,503 |
Total Liabilities |
2,895,450 |
2,796,368 |
99,083 |
Equity |
|
|
|
|
Accumulated Earnings |
6,945,212 |
6,991,056 |
- |
|
Current Year Retained Earnings |
68,623 |
(45,844) |
108,411) |
|
Total Equity |
7,013,835 |
6,945,212 |
68,623 |
Total Liabilities and Equity |
9,909,285 |
9,741,580 |
167,706 |