Financial Information – 2008
Keystone Human Services and
Controlled Affiliates
Consolidated Statements of Financial Position
June 30, 2008 and 2007
| Liabilities and Net Assets | 2008 | 2007 | ||||
|---|---|---|---|---|---|---|
| Current liabilities: | ||||||
| Accounts payable | $ | 3,664,446 | 3,032,410 | |||
| Accruals: | ||||||
| Payroll and taxes | 5,438,018 | 3,670,522 | ||||
| Workers’ compensation benefits | 2,367,767 | 1,207,702 | ||||
| Retirement plan | 1,682,960 | 251,349 | ||||
| Income Taxes | 965,634 | — | ||||
| Current portion of long-term debt | 1,792,880 | 1,974,346 | ||||
| Other current liabilities | 1,183,382 | 892,004 | ||||
| Total current liabilities | 17,095,087 | 11,028,333 | ||||
| Long-term liabilities: | ||||||
| Debt, net of current portion | 15,359,753 | 13,251,331 | ||||
| Line of credit | 4,494,626 | 3,325,000 | ||||
| Other long-term liabilities | 499,244 | 368,747 | ||||
| Total liabilities | 37,448,710 | 27,973,411 | ||||
| Net assets: | ||||||
| Unrestricted | 16,176,350 | 16,158,754 | ||||
| Temporarily restricted | 640,112 | 640,493 | ||||
| Total net assets | 16,816,462 | 16,799,247 | ||||
| Total liabilities and net assets | $ | 54,265,172 | 44,772,658 | |||
Complete audited financial statements are on file at the Administrative Offices of Keystone Human Services and are available upon request.
