2012 Financial Information
The Finance Committee exercises its review and accountability role throughout the year. The committee reviews both short-term and long-term budget plans and reports on spending and revenue in relation to the approved budget.
Acting as the audit committee of the College, the committee also oversees the annual external audit, which includes the preparation of audited financial statements using best practices in non-profit financial reporting.
The committee adheres to financial principles that ensure mandated services are appropriately funded and that fees are maintained at appropriate levels so that the College's financial stability is assured.
For 2012 the College operating budget was set at $35,765,000 with an anticipated surplus of $1,357,000. The year concluded with a surplus of $420,000 due to a significant increase in expenditures related to the adjudication of more discipline matters.
The College is financed primarily by members' fees. At the end of 2012 the College had 237,249 members in good standing, an increase of 2,833 over 2011. There has been some moderation in growth over the last couple of years as fewer certified teachers have gained employment in the profession.
The Finance Committee has recommended and Council has approved the 2012 operating surplus of $420,000 and the associated 2012 audited financial statements.
Until June 30, 2012
- Garry Humphreys (Chair, from March 29, 2012)
- Darlene Mead, OCT (Vice-Chair)
- Allyn Janicki, OCT
- Pauline Smart (until February 8, 2012)
- Henry Tyndorf, OCT
- John Tucker (from February 8, 2012)
From July 4, 2012
- Marie-Louise Chartrand (Chair)
- Terry Price, OCT (Vice-Chair)
- Stefanie Achkewich, OCT (from November 15, 2012)
- Dave Bird, OCT (until September 20, 2012)
- Vicki Shannon, OCT
- Pauline Smart