Page 25 - Child Care Resource Center

Note 12 – Liquidity and Availability
The following table reflects CCRC’s financial assets as of June 30, 2021 and 2020, reduced by amounts not available for general use because of contractual restrictions within one year of the statements of financial position date:
Cash and cash equivalents
Cash held in reserve Government contracts receivable Investments
Other receivables
Total financial assets
Less: cash held in reserve
Financial assets available to meet cash needs for general expenditures within one year
$
2021
28,931,581 1,421,659 18,497,995 10,471,594 664,225
59,987,054 (1,421,659)
58,565,395
2020
$ 12,672,595 586,938 22,504,054 7,765,937 425,805
Child Care Resource Center, Inc. Notes to Financial Statements
$
$
43,955,329 (586,938)
43,368,391
As part of CCRC’s liquidity management plan, CCRC structures its financial assets to be available as obligations come due. Cash is held in interest-bearing bank accounts and is invested in short-term fixed income investments. As discussed in Note 7, CCRC has a committed line of credit that it could draw upon in the event of an unanticipated liquidity need.
Note 13 – Subsequent Events
Subsequent events are events or transactions that occur after the statements of financial position date but before the financial statements are available to be issued. CCRC recognizes in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed at the date of the statements of financial position, including the estimates inherent in the process of preparing the financial statements. CCRC does not recognize subsequent events that provide evidence about conditions that did not exist at the date of the statements of financial position but arose after the statements of financial position date and before the financial statements are available to be issued.
CCRC has evaluated subsequent events through December 8, 2021, which is the date the financial statements were available to be issued.
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