Financials

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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
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