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.
