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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|
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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.