Statement of Operations & Changes in Members' Equity
(In thousands of dollars)
Year ended December 31, 2018, with comparative information for 2017
| Year | 2018 | 2017 |
|---|---|---|
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| 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 |
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|
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| 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 |
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| 38,850 | 37,676 | |
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| Excess (deficiency) of revenue over expenditures | (346) | 700 |
| Members' equity, beginning of year | 21,431 | 20,731 |
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| Members' equity, end of year | $ 21,085 | $ 21,431 |
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| Members' equity, comprised of: | ||
| Unrestricted | $ 13,342 | $ 21,431 |
| Internally restricted (note 9) | 7,743 | - |
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See accompanying notes to financial statements.