Statement of Operations and Members' Equity
For the year ended December 31, 2014
(in thousands of dollars)
2014 | 2013 | |
$ | $ | |
Revenue | ||
Annual membership fees | 35,970 | 32,922 |
Other fees | 1,982 | 2,232 |
Advertising | 1,140 | 1,181 |
Special projects | 99 | 51 |
Interest and other | 237 | 325 |
39,428 | 36,711 | |
Expenses | ||
Employee compensation | 19,478 | 19,494 |
Council and committees | 609 | 687 |
Services to members and applicants | 4,133 | 3,744 |
Professional practice | 324 | 520 |
Investigations and hearings | 4,794 | 4,352 |
Operating support (note 5) | 6,210 | 6,083 |
Amortization | 2,815 | 2,184 |
Council elections | 57 | – |
38,420 | 37,064 | |
Excess (deficiency) of revenue over expenses before undernoted item | 1,008 | (353) |
Other items (note 12) | 2,977 | – |
Excess (deficiency) of revenue over expenses for the year | 3,985 | (353) |
Members’ equity – Beginning of year | 15,280 | 15,633 |
Members’ equity – End of year | 19,265 | 15,280 |
The accompanying notes are an integral part of these financial statements.