GCAC 2007 Annual Report | Executive Office

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Statement of Financial Position

For the 12 months ended December 31, 2007

ASSETS
CURRENT ASSETS
Cash and cash equivalents	$2,238,957
Cash, restricted	383,593
Grants and other receivables	130,677
Prepaid expenses	70,443
TOTAL CURRENT ASSETS	2,823,670
NON CURRENT ASSETS
Property and equipment, net	150,399
TOTAL ASSETS	$2,974,069
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Accounts payable and accrued expenses	$92,518
Grants and technical assistance payable	1,064,961
Deferred revenue	116,225
TOTAL CURRENT LIABILITIES	1,273,704
NET ASSETS
Unrestricted	616,832
Unrestricted Investment in Fixed Assets	150,399
Unrestricted - designated	528,086
Temporarily restricted	405,048
TOTAL NET ASSETS	1,700,365
TOTAL LIABILITIES AND NET ASSETS	$2,974,069

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