CSBE-SCGAB
Monday, 17 June 2013 11:08

Annual Report from Treasurers 2012-2013

The 2012 Audit results from Thornton and Company have finally come to me and the results are a apparently a bit better than expected with a $24,729 loss for the year and a year-end account cash balance of $138,864 down from a starting balance of $150,748. The Deficiency of Revenue over Expenditure is larger than the Decrease in cash Flow due to the difference in accrual methods between fiscal year accounting and  Calendar year cash flow calculation methods.

Several budgeted items such as AIC dues and NABEC profit sharing on the AGM seem to have slipped off the list of Audited Expenditures but are likely hiding under another heading.  Some items were also deferred to 2013.

The proposed budget for 2013 is shown in the Statement of Revenue and Expenditures and projects a $13,600 loss with luck we may do better. With the Fee increase occurring in the fall of 2013 accruing to 2014 the outlook for the 2014 fiscal year will be a slight profit of $2000.

Summary of Thornton and company audited Finanacial Position for the 2012 Fiscal year starting in January 1 2012 and ending December 31,2012.

 

FY 2011

FY 2012

Liabilities and NET ASSETS

$166,102

$141,652

REVENUE

$97,327

$68,681

EXPENDITURES

$105,266

$98,832

Other income

$1872

$3422

DEFICIENCY OF REVENUE OVER EXPENDITUR

$(6,067)

$(24,729)

 

 

 

CASH

 

 

Decrease in Cash Flow

$(19,656)

$(11,884)

CASH - beginning of year

$170,404

$150,748

CASH end of year

$150,748

$138,864

 

 

 

Statement of Revenues and Expenditures

 

Cash Flow Budget2012

Actuals 2012
Thornton and Company

Proposed 2013 Budget

Member ship fees

$20,000

$24,009

$22,000

AGM  revenues

$39,125

$41,221

$54,500

Canadian Bio Systems Journal

$4,065

$3,054

$3,000

Advertising

$200

$397-

$400

REVENUE

$65,590

$68,681-

$79,900

 

 

 

 

EXPENDITURES

 

 

 

ASABE charges

$1,500-

$398

$2,300

Annual General Meeting

$32,858

$29,447

$39,000

AGM profit sharing 2012 NABEC

$5,715

????

--

ASABE board  president's discretion

$2000

--

$2,000

Business taxes licences and memberships

-

$30

$100

CDN Bio systems Journal

$4,500

$989

$1,000

CDN Bio systems Journal Translation and post

 

$5,164

$6,000

CIGR Dues

$1,000

$824

$900

AIC dues

$1,000

--????

$1,000

Conferences and symposium  CSBE council Teleconference

$2,000

$917

$950

Consulting fees Strive Report

$20,252.59

$20,784

--

Contributions and donations

 

-

--

EIC Affiliation dues and directors Insurance

$2,780

$2,124

$2,200

General and student awards

$1,000

$1,706

$1,700

Interest and bank charges (credit card handling)

$1,522

$2,711

$3,100

Management honorarium

$20,000

$20,000

$20,000

Office CSBE manager

$1,000

$3,269

$3,3,00

Other CSBE manager

$1,000

--

 

Professional audit fee

$1,008

$1,400

$1,400

Under grad student dues

$3,200

$5,740

--

Under graduate recruitment

--

--

$6,000

Travel -CSBE manager's

$2,500

$1,090

$2,500

Web site

$500

$239

$3500

 Misc. Other

$500

-

$500

TOTAL EXPENDITURE

$105,836

$96,8312

$94,150

OTHER  INCOME

 

 

 

Expense recoveries (rebates)

$400

$643

$650

Donations

$1,800

$2,780

--

Total Other

$1,200

$3,422

$650

 

 

 

 

DEFICIENCY OF REVENUE OVER EXPENDITUR

$(40,246)

$(24,729)

$(13,600)

DOWNLOAD THE FULL FINANCIAL STATEMENT

Read 5138 times Last modified on Tuesday, 18 June 2013 15:12
John Morgan

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