Print this page
Friday, 12 June 2015 12:46

Annual Report from Treasurer (2014 Fiscal Year End)

2015 Treasurers report for the fiscal year ended December 31 2014 and 2015 budget with 2016 projections

Financially CSBE has sufficient cash inflow and savings to carry on for the foreseeable future.

The 2015 audit shows that the year ended with  an excess of revenue over expenditure of $29,631.  This means that a number of areas were managed extremely well:  The journal, web site, office and savings investment.  There is also an element of luck - the currency conversion of our dues from ASABE is not managed brilliantly yielding some unexpected yields on US$ to CAD$ conversions as they fixed the rate above market in a falling conversion rate environment – this often works against us when the CAD $ is rising.

Also several programs for students were significantly underspent- regional directors need to get moving there is some reasonable money available for student events.

Notable areas of  increased funding for 2015  are:   Webpage software licensing renewal – a 3 year cycle, and a projected web page rebuild for 2016. And new for this year is a journal reviewers incentive to encourage timely reviews of journal articles with the goal of making the CSBE Journal a more attractive site to publish research papers.  The CSBE foundation has implemented a program to fund student awards winners to travel to the AGM.

CIGR and AIC fees are being paid the auditor however has recorded them under a different heading.
Council is reviewing the AIC membership and fees.

Net assets at the end of 2014 were $175,825 an increase year over year of $29,631 up from a low of $139,885 in 2013

End of year combined cash was $51.819 with an additional $102.536 in a long term securities portfolio at BMO Nesbitt Burns. The current portfolio value $105,470, pointing to a hoped for 7% per annum yield.

The 2015 budget with the 2016 projections can be downloaded here.

Download the 2014 Audit.

Read 1981 times Last modified on Friday, 19 June 2015 11:21
John Morgan

Email This email address is being protected from spambots. You need JavaScript enabled to view it.