APEGA 2020 Annual Report

ASSOCIATION OF PROFESSIONAL ENGINEERS AND GEOSCIENTISTS OF ALBERTA Summary Financial Statements (IN THOUSANDS OF DOLLARS)

SUMMARY STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2020

SUMMARY STATEMENT OF OPERATIONS FOR THE YEAR ENDED DECEMBER 31, 2020

Assets

Revenues

2020 ($)

2019 ($)

2020 ($)

2019 ($)

Members’ annual dues

21,967 21,957

Current assets

Permit annual dues

3,546

3,606

Cash and cash equivalents

5,912

8,100

Registration fees

1,430

1,456

Short-term investments

3,000

4,000

Examination fees

1,299

992

Accounts receivable

1,678

2,147

Affinity program

2,077

2,440

Prepaid expenses

859

541

Fees recovered for program

427

832

11,449

14,788

General

334

652

Tangible capital assets

4,607

5,216

Bank interest and investment income

957

770

Intangible assets

6,330

3,017

32,037 32,705

Investments

18,262

17,381

Expenses Salaries and benefits

Defined benefit pension plan surplus (note 3)

4,402

2,579

16,930 15,665

45,050

42,981

Consultants and contractors

1,201

1,601

Liabilities

IT and telecommunications

2,473

2,684

Legal fees

1,106

1,212

Current liabilities

Travel, meals and volunteers

369

1,743

Accounts payable and accrued liabilities

1,893

3,072

Facilities lease and management

2,117

1,933

Government remittances payable

106

64

National assessment and premiums

1,150

1,189

Deferred dues and fees revenues

14,620

14,901

Exam administration

422

479

16,619

18,037

Printing, supplies and distribution

613

702

Deferred lease inducement

1,427

1,596

Advertising and promotion

468

259

18,046

19,633

Sponsorships

170

164

Net Assets Invested in tangible capital and intangible assets

Administration

270

466

10,937

8,233

Bank and financial charges

783

506

Internally restricted legislative review

1,000

1,000

Amortization

2,072

1,650

Internally restricted regulatory risk management reserve

4,592

2,764

30,144 30,253

Unrestricted

Excess of revenues over expenses before realized and unrealized investment gain

10,475

11,351

1,893

2,452

27,004 23,348

Realized and unrealized investment gain

105

1,031

45,050

42,981

Excess of revenues over expenses for the year

1,998

3,483

53

The accompanying notes are an integral part of these summary financial statements

56

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