TFS - Canada's International School

TFS Highlights of the Statement of Financial Position ($000's) 2017 2016 Total Current Assets $13,762 $14,814 Capital Assets 44,768 38,777 Total Assets $58,530 $53,591 Total Current Liabilities 32,185 30,466 Deferred Capital Contributions 12,566 10,740 Total Liabilities $44,751 $41,206 Net Assets $13,779 $12,385 Highlights of the Statement of Operations ($000's) 2017 2016 Tuition and Instructional Fees $42,343 $40,261 Other Income 3,133 3,017 Total Revenue $45,476 $43,278 Educational Expenses 30,247 27,120 Administration & General Expenses 12,849 13,989 Amortization Expenses, Net 986 1,074 Total Expenses $44,082 $42,183 Excess of Revenue Over Expenses $1,394 $1,095 TFS Foundation Highlights of the Statement of Financial Position ($000's) 2017 2016 Total Current Assets $595 $1,952 Investments 5,051 4,410 Total Assets $5,646 $6,362 Total Current Liabilities 87 488 Deferred Restricted Contributions 2,734 2,966 Total Liabilities $2,821 $3,454 Net Assets $2,825 $2,908 Highlights of the Statement of Operations ($000's) 2017 2016 Donations & Special Events $2,028 $1,778 Investment Income 252 -20 Total Revenue $2,280 $1,758 Fundraising 93 64 Other Expenses 30 57 Total Expenses $123 $121 Net Expenses $2,157 $1,637 Contribution to TFS 2,284 1,741 Excess (Deficiency) of Revenue Over Expenses $(127) $(104) TFS continues to demonstrate its commitment to accountability and fiscal responsibility. The results for the school were strong for the year ended June 30, 2017, enabling the school to meet all of the capital and operating requirements. While tuition fees cover most of the basic expenses, it is the generous contributions of the community that allow for funding for innovative learning and educational initiatives, such as facility enhancements like the renovated science labs in the Senior School or the upgrades to the gym at La p'tite école. I would like to thank Roger Poirier for his leadership as Chair of the TFS Foundation during the 2016–2017 school year. The Foundation continued to have a strong year with the continued support of the community, resulting in revenue of just over $2.0M. These funds continue to enhance the total experience at TFS for our students. As we welcome Cathy Yanosik, our new President of the TFS Foundation, we look forward to your ongoing support which has a lasting impact on our current and future students. Financial Summary Sonia Baxendale Chair, TFS Audit & Finance Committee Christian Lassonde Chair, TFS Foundation and TFS Foundation Investment & Finance Committee 8 TFS – Canada's International School

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