Financials
Assets | ||
Current Assets | 2021 | 2020 |
(in thousands of dollars) | $ | $ |
Cash | 64,609 | 134,824 |
Investments | 244,594 | 219,608 |
Restricted cash for externally restricted purposes | 5,852 | 6,266 |
Accounts receivable | 87,002 | 62,318 |
Grants receivable | 81,228 | 68,292 |
Loans receivable | 50,190 | 12,029 |
Prepaid expenses, deposits and other assets | 14,270 | 14,781 |
547,745 | 518,118 | |
Loans receivable | 26,496 | 59,947 |
Grants receivable | 10,270 | 11,250 |
Investments in joint ventures | 11,814 | 13,234 |
Receivable from the City of Toronto | 18,325 | 19,325 |
Housing projects acquired or developed | 1,684,434 | 1,694,018 |
Improvements to housing projects | 2,183,376 | 2,003,447 |
Assets held – for – sale or transfer | 6,135 | 2,790 |
Prepaid lease | 690 | 745 |
Total Assets | 4,489,285 | 4,322,874 |
Liabilities | ||
Current Liabilities | 2021 | 2020 |
(in thousands of dollars) | $ | $ |
Bank loan and bank indebtedness | 42,700 | - |
Accounts payable and accrued liabilities | 206,598 | 230,737 |
Tenants deposits and rents received in advance | 17,673 | 17,577 |
Deferred revenue | 24,032 | 18,643 |
Project financing and debenture loans | 60,478 | 82,448 |
351,481 | 349,405 | |
Deferred revenue on long-term leases | 24,853 | 1,670 |
Deferred revenue on land sale | 17,358 | 16,728 |
Employee benefits | 84,921 | 82,398 |
Project financing and debentures loans | 1,767,092 | 1,736,011 |
Deferred capital contributions | 1,242,998 | 1,062,088 |
Total Liabilities | 3,488,703 | 3,248,300 |
Accumulated Surplus | ||
Share capital | ||
Authorized and issued 100 common shares | 1 | 1 |
Internally restricted funds | 268,470 | 245,884 |
Contributed surplus | 5,136 | 5,136 |
Unrestricted surplus | 726,975 | 823,553 |
Total Net Assets | 1,000,582 | 1,074,574 |
4,489,285 | 4,322,874 |
Revenue | ||
2021 | 2020 | |
(in thousands of dollars) | $ | $ |
Subsidies | 246,392 | 244,960 |
Rent | ||
Residential | 339,500 | 349,431 |
Commercial | 18,311 | 16,949 |
Amortization of deferred capital contributions | 68,862 | 59,849 |
Parking, laundry and cable fees | 18,447 | 18,489 |
Investment income | 9,107 | 9,308 |
Joint venture income (loss) | 915 | 4,371 |
Safe Restart program | 34,182 | 9,877 |
Gain on sale of housing projects and other capital assets | 5,549 | 29,951 |
Capital asset replacement reserve | - | 61,518 |
Plant and other revenue | 5,917 | 7,840 |
747,182 | 812,543 | |
Expenses | ||
Operating and maintenance | 255,064 | 248,785 |
Utilities | 130,582 | 129,404 |
Municipal taxes | 18,917 | 19,339 |
Depreciation | 233,273 | 213,356 |
Interest | 75,539 | 78,410 |
Community safety services | 36,383 | 35,086 |
Corporate services | 66,200 | 61,421 |
Plant and other expenses | 12,762 | 9,636 |
Excess (deficiency) of revenue over expenses | (81,538) | 17,106 |