FINANCIAL HIGHLIGHTS
Statement of Financial Position
2014 |
2013 | |
| assets | ||
| current | ||
| Cash | $5,643,400 | $4,608,319 |
| Cash held for restricted funds | 107,562 | 15,000 |
| Short-term investments | 2,698,398 | 2,500,302 |
| Accounts receivable | 1,362 | 2,450 |
| Prepaid expenses | 135,540 | 12,309 |
| 8,586,262 | 7,138,380 | |
| investments restricted for endowment fund | 3,304,331 | 3,279,439 |
| capital assets | 526,557 | 655,553 |
| $12,417,150 | $11,073,372 | |
| LIABILITIES | ||
| current | ||
| Accounts payable and accrued liabilities | $564,165 | $584,597 |
| Goods and services tax payable | 9,159 | 6,764 |
| Deferred grant revenue | 225,851 | 15,000 |
| Prepaid registration fees | 4,432,725 | 3,976,700 |
| 5,231,900 | 4,583,061 | |
| LEASE INDUCEMENT | 104,856 | 133,912 |
| 5,336,756 | 4,716,973 | |
| NET ASSETS | ||
| Unrestricted | 3,249,635 | 2,421,535 |
| Restricted net assets | ||
| Endowment Fund | 3,304,202 | 3,279,311 |
| Capital Fund | 526,557 | 655,553 |
| 7,080,394 | 6,356,399 | |
| $12,417,150 | $11,073,372 | |
Approved by the Council
General Fund and Capital Fund Statement of Operations
2014 |
2013 | |
| REVENUE | ||
| Registration fees | ||
| Active | $4,354,463 | $3,967,656 |
| Out of province assessment | 263,676 | 276,776 |
| Initial | 48,300 | 45,025 |
| Late | 47,160 | 43,830 |
| Reinstatement | 20,200 | 16,650 |
| Fines | 29,200 | 22,500 |
| Associate | 28,343 | 23,479 |
| License verification | 13,690 | 15,406 |
| Document fees | 471 | 105 |
| National examinations | 477,775 | 405,366 |
| Annual general meeting | 183,376 | 177,274 |
| Alberta Directory grant | 100,259 | - |
| Foreign Qualifications Recognition grant | - | 2,021 |
| International Educated Nurses Repatriation grant | - | 32,187 |
| Labour Market Partnerships grant | - | 32,550 |
| Occupational Health and Safety grant | 15,000 | 14,897 |
| Continuing competency profile | 60,810 | 59,010 |
| Program fees | 16,333 | 16,143 |
| Advertising | 7,000 | 14,888 |
| Interest income | 85,762 | 64,631 |
| Miscellaneous | 15,629 | 8,386 |
| 5,767,447 | 5,238,780 | |
| EXPENSES | ||
| Administration | ||
| Marketing | 141,809 | 69,252 |
| Rent and occupancy costs | 283,408 | 245,857 |
| Office and computer | 192,227 | 208,698 |
| Amortization of capital assets | 141,968 | 142,095 |
| Bank charges and interest | 110,317 | 100,684 |
| Postage | 24,418 | 22,979 |
| Professional fees | 75,438 | 61,575 |
| Telephone and utilities | 25,481 | 28,699 |
| Consulting fees | 49,616 | 42,482 |
| Printing | 3,629 | 9,914 |
| Loss on disposition of capital assets | 1,465 | 1,512 |
| Travel | 76,851 | 50,377 |
| Jurisprudence project | 18,438 | 22,734 |
| Alberta Directory project | 100,259 | - |
| Foreign Qualifications Recognition | - | 2,021 |
| International Educated Nurses Repatriation | - | 32,187 |
| Labour Market Partnerships | - | 32,550 |
| Occupational Health and Safety | 15,000 | 14,897 |
| Schedule of Personnel Costs | 1,831,174 | 1,688,657 |
| Schedule of Cost of Services | 1,976,845 | 1,666,635 |
| 5,068,343 | 4,443,805 | |
| EXCESS OF REVENUE OVER EXPENSES | $699,104 | $794,975 |
Endowment Fund Statement of Operations
2014 |
2013 | |
| REVENUE | ||
| Investment income | $94,274 | $94,896 |
| Unrealized gain (loss) on portfolio investments | (203,950) | 59,711 |
| Gain on disposal of long-term portfolio investments |
333,771 | 101,424 |
| 224,095 | 256,031 | |
| Expenses | Brokerage fee | 29,203 | 22,190 |
| Donation to Fredrickson McGregor Education Foundation |
170,001 | 87,047 |
| 199,204 | 109,237 | |
| EXCESS OF REVENUE OVER EXPENSES | $24,891 | $146,794 |
Statement of Changes in Net Assets
| NET ASSETS AT BEGINNING OF YEAR | Excess of revenue over (under) expenses | Investment in capital assets | Repayment of funds | NET ASSETS AT END OF YEAR | |
| Unrestricted | $2,421,535 | $842,537 | $(14,437) | $ - | $3,249,635 |
| Capital Fund | 655,553 | (143,433) | 14,437 | - | 526,557 |
| Endowment Fund | 3,279,311 | 24,891 | - | - | 3,304,202 |
| $6,356,399 | $723,995 | $ - | $ - | $7,080,394 | |
The complete audited financial statements are available by contacting CLPNA at 780.484.8886