Finances
Statement of Operations and Changes to Members' Equity
(In thousands of dollars)
Year ended December 31, 2016, with comparative information for 2015
|
|
2016 |
2015 |
|
|
$ |
$ |
Revenue: |
|
|
|
|
Annual membership fees |
35,876 |
36,583 |
|
Other fees |
1,175 |
1,798 |
|
Advertising |
980 |
965 |
|
Special projects |
99 |
45 |
|
Interest and other |
285 |
460 |
|
|
38,415 |
39,851 |
Expenditures: |
|
|
|
|
Employee salaries |
16,809 |
16,137 |
|
Employee benefits (note 8) |
4,637 |
4,420 |
|
Council and committees |
690 |
720 |
|
Services to members and applicants |
3,215 |
3,572 |
|
Professional practice |
454 |
510 |
|
Investigations and hearings |
4,312 |
4,215 |
|
Operating support |
4,528 |
5,296 |
|
Mortgage interest |
978 |
1,090 |
|
Amortization |
2,463 |
2,504 |
|
Council elections |
– |
250 |
|
|
38,086 |
38,714 |
|
|
|
|
Excess of revenue over expenditures |
329 |
1,137 |
|
|
|
|
|
Members’ equity, beginning of year |
20,402 |
19,265 |
|
|
|
|
|
Members’ equity, end of year |
20,731 |
20,402 |
See accompanying notes to financial statements.