Financial Summary
Audited Financial Summary
Our auditors (Kriens~LaRose, LLP Chartered Accountants) have conducted our annual audit in accordance with Canadian generally accepted auditing standards. An audited consolidated financial statement and two graphic representations of revenues and expenses follow. OPPI Council approved the Audited Financial Statements ending December 31, 2013 at its March 2014 Council meeting. A complete copy is available by contacting the OPPI office.
The 2013 Business Plan was prepared and approved by OPPI Council. The year ending December 31, 2013 reflects an excess of revenues over expenses in the amount of $372,722.
| Budget Area | Change | Amount |
|---|---|---|
| Operations | Increase | $148,809.00 |
| Capital Fund | Increase | $10,000.00 |
| Scholarship Fund | Increase | $17,188.00 |
| Strategic Fund | Increase | $196,725.00 |
| Overall | Increase | $372,722.00 |
Summarized Financial Information for 2013
| 2013 $ |
2012 $ |
|
|---|---|---|
| CURRENT ASSETS | 1,904,305 | 1,269,355 |
| EQUIPMENT | 435,358 | 456,234 |
| 2,339,663 | 1,725,589 | |
| CURRENT LIABILITIES | 1,175,982 | 934,630 |
| SCHOLARSHIP FUNDS | 95,900 | 78,712 |
| UNRESTRICTED NET ASSETS | 238,957 | 69,272 |
| INVESTED IN EQUIPMENT | 435,358 | 456,234 |
| CAPITAL RESERVE FUND | 114,979 | 104,979 |
| STRATEGIC FUND | 278,487 | 81,762 |
| 2,339,663 | 1,725,589 | |
| REVENUES | ||
| Membership fees | 1,146,578 | 1,039,482 |
| Conference | 367,600 | – |
| Journal and mailings | 181,096 | 189,604 |
| Professional development | 103,450 | 112,475 |
| Other | 114,530 | 202,284 |
| Symposium | – | 199,490 |
| 2,023,396 | 1,743,335 | |
| EXPENSES | ||
| Council and Committees | 674,039 | 618,277 |
| Conference | 271,592 | – |
| Office | 335,693 | 335,358 |
| General administration | 162,159 | 176,347 |
| Communications | 126,417 | 121,659 |
| Professional development | 74,979 | 85,790 |
| Other | 5,795 | 1,500 |
| Symposium | – | 159,286 |
| 1,650,674 | 1,498,217 | |
| EXCESS OF REVENUES OVER EXPENSES FOR THE YEAR |
372,722 | 245,118 |
2013 Revenue & Expenses
Revenue
| Membership Fee | $1,146,578 |
| Conference/Symposium | $367,600 |
| Journal & Mailings | $181,096 |
| Professional Development | $103,450 |
| Other | $224,672 |
| Total Revenue | $2,023,396 |
|---|
Expenses
| Membership Services | $624,694 |
| Administration | $497,852 |
| Recognition | $245,812 |
| Governance | $152,926 |
| Policy | $66,815 |
| Districts | $50,256 |
| Discipline | $12,319 |
| Total Expense | $1,650,674 |
|---|