Finances

Statement of Operations & Changes in Members' Equity


(In thousands of dollars)
Year ended December 31, 2018, with comparative information for 2017


Year 2018 2017
 
Revenue:    
Annual membership fees 35,209 35,496
Other fees  1,932  1,514
Advertising  800  1,020
Special projects  110  48
Interest and other  453  298
 

 38,504  38,376
Expenditures:    
Employee salaries  17,331  16,844
Employee benefits (note 10)  4,563  4,582
Council and committees  933  630
Services to members and applicants  3,307  3,383
Professional practice  521  569
Investigations and hearings  4,132  3,960
Operating support  4,752  4,366
Mortgage interest  874  914
Amortization  2,217  2,329
Council elections  220  99
 
   38,850 37,676
 
     
Excess (deficiency) of revenue over expenditures   (346)  700
Members' equity, beginning of year  21,431  20,731
 
Members' equity, end of year 21,085 21,431
 
Members' equity, comprised of:    
Unrestricted  $ 13,342 21,431
Internally restricted (note 9)  7,743 -
 

See accompanying notes to financial statements.