The 2012 Audit results from Thornton and Company are summarized below 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.
There has been a slight increase in revenue due to the Journal activities.
Combined with a $30,000 reduction in expenditures in part due to deferred program expenses r has left the society somewhat unexpectedly with a small positive excess of Revenue over Expenses.
The proposed budget for 2014 is shown in the Statement of Revenue and Expenditures and projects a $7100 . Even with the fee increase actual revenue from the Montreal combined ASBE CSBE?SCGB AGM is capped at $10,000 ..If the journal results and some other areas continue to perform better than expected the loss projected for 2014 could be less than projected.