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Auditors’ Report Balance Sheet Financial Statements Notes to Financial Statements Schedule of Revenue &  Expenses Statement of Cash Flow Statement of Comprehensive Income (Loss) Statement of Accumulated Other Comprehensive Loss Statement of Operations and Unappropriated Members’ Surplus
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Consolidated Balance Sheet

December 31

2009

2008

Assets
Cash and cash equivalents $ 5,034,104 $ 2,881,984
Accounts receivable
(Note 2)
29,541,012 30,098,638
Corporate income taxes recoverable - 1,016,907
Prepaid expenses 96,222 21,477
Long term investments
(Note 3)
48,529,214 45,136,675
Deferred policy acquisition expenses 3,604,201 3,267,095
Future income tax asset
(Note 7)
282,000 216,000
Construction in progress
(Note 11)
1,393,206 344,869
Capital assets (Note 4) 2,705,243 1,662,747
Other intangible assets - 30,000
  91,185,202 84,676,392

Liabilities and Surplus

   
Accounts payable and accrued liabilities $ 3,214,102 $ 1,797,346
Due to Auto Facility Association 1,436,606 1,477,732
Unpaid claims (Note 5) 42,014,358 41,899,848
Income Taxes Payable 75,871 -
Unearned premiums 16,037,966 14,501,009
  62,778,903 59,675,935

Surplus

   
Unappropriated members' surplus 28,709,654 28,704,110
Accumulated other comprehensive income (loss) (303,355) (3,703,653)
  28,406,299 25,000,457
  $ 91,185,202 $ 84,676,392

The accompanying notes are an integral part of these financial statements