GCAC 2008 Annual Report | Executive Office

Statement of Financial Position

For the 12 months ended December 31, 2008

ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	$1,748,610
Grants and other Receivable	110,976
Prepaid Expenses	76,921
TOTAL CURRENT ASSETS	1,936,507
PROPERTY AND EQIUPMENT - NET	134,471
OTHER ASSETS
Restricted and Cash Equivalents	13,578
Assets held for others	815,628
TOTAL ASSETS	$2,900,184
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Accounts Payable and Accrued Expenses	$54,476
Grant and Technical Assistance	1,139,359
Assets held for others	815,628
Deferred Revenue	146,857
TOTAL CURRENT LIABILITIES	2,156,320
NONCURRENT LIABILITIES
Deferred Compensation	26,466
TOTAL LIABILITIES	2,182,786
NET ASSETS
Unrestricted	69,349
Unrestricted Investment in Fixed Assets	134,471
Unrestricted - designated	500,000
Temporarily restricted	13,578
TOTAL NET ASSETS	717,398
TOTAL LIABILITIES AND NET ASSETS	$2,900,184