Statement of Operations February 29, 2020
2020 Budget (Unaudited)
2020
2019
Actual
Actual
(Note 10)
REVENUES
$ 1,313,050
Membership registrations
$ 1,306,795
$ 1,278,198
69,634
Interest
40,000
47,763
1,382,684
1,346,795
1,325,961
EXPENSES
485,096 266,226 140,188 43,516 18,233
Salaries, wages and benefits
466,400 228,265 108,800 122,000 30,000 151,500
532,348 273,000 173, 609
Administration Council activities College activities
66,680 25,909 10,510
Amortization
7,911
Professional fees
961,170 421,514
1,106,965
1,082,056
EXCESS OF REVENUES OVER EXPENSES
$
$
239,830
$
243,905
Statement of Changes in Net Assets Year Ended February 29, 2020 Invested in Internally Tangible Unrestricted Restricted Capital Assets
2020
2019
NET ASSETS — BEGINNING OF YEAR Excess (deficiency) of revenues over expenses
$ 71,287 $ 2,808,918 $ 2,565,013
$ 1,737,631 $ 1,000,000
421,514
439,747
-
(18,233)
243,905
-
Transfers
(1,300,000)
1,300,000
-
-
Purchase of tangible capital assets
-
(2,545)
-
2,545
-
NET ASSETS — END OF YEAR
$ 55,599 $ 3,230,432 $ 2,808,908
$
874,833 $ 2,300,000
See notes to financial statements
23
ALBERTA COLLEGE OF OCCUPATIONAL THERAPISTS ANNUAL REPORT 2019–2020
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