Statement of Operations &
Changes in Members' Equity
(In thousands of dollars)
Year ended December 31, 2017, with comparative information for 2016
Year | 2017 | 2016 |
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Revenue: | ||
Annual membership fees | $35,496 | $35,876 |
Other fees | 1,514 | 1,175 |
Advertising | 1,020 | 980 |
Special projects | 48 | 99 |
Interest and other | 298 | 285 |
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Total revenue | 38,376 | 38,415 |
Expenditures: | ||
Employee salaries | 16,844 | 16,809 |
Employee benefits (note 8) | 4,582 | 4,637 |
Council and committees | 630 | 690 |
Services to members and applicants | 3,383 | 3,215 |
Professional practice | 569 | 454 |
Investigations and hearings | 3,960 | 4,312 |
Operating support | 4,366 | 4,528 |
Mortgage interest | 914 | 978 |
Amortization | 2,329 | 2,463 |
Council elections | 99 | ‐ |
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Total expenditures | 37,676 | 38,086 |
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Excess of revenue over expenditures | 700 | 329 |
Members' equity, beginning of year | 20,731 | 20,402 |
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Members' equity, end of year | $21,431 | $20,731 |
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See accompanying notes to financial statements.