Page 55 - 2012-01-20

This is a SEO version of 2012-01-20. Click here to view full version

« Previous Page Table of Contents Next Page »
|
53
Perimeter’s investment strategy, strong oversight, and portfoliomanagement allowed its endowment
fund to continue its upward momentum, gaining well over 9% or $20.9 million in 2011.
OPERATING
EXPENDITURE
SUMMARY
For the year ended July 31, 2011
BALANCE
SHEET
The balance sheet reflects an exceptionally strong working capital position. This position allows
Perimeter to act quickly on targets of opportunity, giving the Institute a considerable competitive
advantage in accelerating its research and outreach goals.
The progress made during the year leading to the final stages of the facility expansion project was
clearly demonstrated with a $17.3 million increase over prior year to Property and Equipment.
Although bank indebtedness was incurred during the last quarter of the fiscal year, this credit was
strategically used as a temporary measure, while consciously targeting optimization of working
capital.
The endowment fund primarily allows for the accumulation of private funds to address the
future needs of Perimeter Institute. The $220 million fund consists of a portfolio mix of domestic
equities, international equities, fixed income, and alternative investments specifically designed in
accordance with the Institute’s risk return objectives.