March 31, 2003
| |
2003 |
2002 |
ASSETS
|
|
|
| CURRENT |
|
|
| |
Cash |
$1,309,524 |
$1,293,208 |
| |
Marketable securities |
5,855,308 |
5,491,789 |
| |
Accounts receivable |
6,390,612 |
6,644,663 |
| |
Prepaid expenses and deposits |
160,733 |
119,934 |
| |
13,716,177
|
13,549,594
|
| |
|
|
| CAPITAL ASSETS |
240,749 |
283,288 |
| |
$13,956,926 |
$13,832,882 |
| |
|
|
LIABILITIES
|
|
|
| CURRENT |
|
|
| |
Accounts payable and accrued liabilities |
$1,412,338 |
$1,108,924 |
| |
Deferred revenue |
5,866,580 |
5,749,768 |
| |
7,278,918 |
6,858,692 |
| |
|
|
NET ASSETS
|
|
|
| |
Net assets invested in capital assets |
240,749 |
283,288 |
| |
Reserve for program development |
3,808,618 |
3,835,165 |
| |
Reserve for long-term development |
1,462,490 |
1,616,471 |
| |
Unrestricted net operating assets |
1,166,151 |
1,239,266 |
| |
6,678,008 |
6,974,190 |
| |
|
|
| |
$13,956,926 |
$13,832,882 |
|
|
