welcome to the 43 rd annual general meeting. call to order college of occupational therapists of...

Welcome to the

43rd Annual General Meeting

Call to Order

College of Occupational Therapists of Manitoba

Agenda Itemsfrom the Floor

College of Occupational Therapists of Manitoba College of Occupational Therapists of Manitoba

Approval of the Agenda


Approval of “Rules of the Meeting

of the College”


Appointment of Two Scrutineers


Approval of the AGM Minutes of October 29, 2013


Business Arising from the Minutes


Chairperson’s Report


Executive Director’s Report


Treasurer’s Report


Financial Statements of

THE COLLEGE OF OCCUPATIONALTHERAPISTS OF MANITOBA

May 31, 2014


Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial position of The College of Occupational Therapists of Manitoba as at May 31, 2014 and the results of its operations and its cash flows for the year then ended in accordance with Canadian accounting standards for not-for-profit organizations.

Chartered Accountants September 9, 2014

THE COLLEGE OF OCCUPATIONAL THERAPISTS OF MANITOBA Statement of OperationsYear Ended May 31, 2014

2014 2013

REVENUE

Registration and license fees $ 329,457 $ 262,259

Other registration income 550 140

Investment income 6,668 10,632

Other income 2,000

-

Expense recoveries – rent 900 900

Expense recoveries – phone 444 444

Expense recoveries – salary 2,316 4,012

342,335 278,387

Amortization 92 312

Association dues 1,569 1,314

Council expenses and meetings 9,359 11,939

Casual labour 410 1,190

Continuing competence 25,402 16,013

Education and training - 83

Insurance

Maintenance

2,404

158

3,594

-

2014 2013


EXPENSES

Miscellaneous 1,859 603

Printing 3,253 2,517

Professional fees 13,008 24,113

Professional fees - Legal 56,229 34,994

Rent 13,860 13,192

Service charges 510 392

Supplies 1,461 1,826

Telephone and postage 11,358 11,193

Wages and benefits 159,740 160,767

300,672 284,045

(DEFICIENCY) EXCESS OF REVENUE OVER EXPENSES

$ 41,663 $ (5,658)

THE COLLEGE OF OCCUPATIONAL THERAPISTS OF MANITOBA Statement of OperationsYear Ended May 31, 2014 2014 2013

2014

Unrestricted

Internally Restricted

Total

Balance, Beginning of Year

$ 16,000 $ 109,778 $ 125,778

Excess of Revenue over Expenses

41,663 - 41,663

Transfer From Restricted Fund (Note 5)

28,097 (28,097) -

Internal Restrictions (Note 5)

(69,760)

67,760

-

Balance, End of Year $ 16,000 $ 151,441 $ 167,441


2014

2013

ASSETSCURRENT

Cash $ 130,571 $ 7,484

Short-term investments (Note 3)

64,560 155,424

Accounts receivable 2,614 5,174

Prepaid expenses 2,523 1,870

200,268 169,952

CAPITAL ASSETS (Note 4) - 92

$ 200,268 $ 170,044


2014

2013

LIABILITIES

CURRENT

Accounts payable $ 32,827 $ 44,266

COMMITMENT (Note 6)

NET ASSETS

Unrestricted 16,000 16,000

Internally restricted 151,441 109,778

167,441 125,778

$ 200,268 $ 170,044


2014

2013

OPERATING ACTIVITIES

Excess (deficiency) of revenue over expenses Item not affecting cash:

$ 41,663 $ (5,658)

Amortization 92 312

Changes in non-cash operating

working capital items:

41,755 (5,346)

Accounts receivable 2,560 3,814

Prepaid expenses (653) (35)

Accounts payable (11,439) 2,931

32,223 1,364

THE COLLEGE OF OCCUPATIONAL THERAPISTS OF MANITOBA Statement of Cash FlowsYear Ended May 31, 2014

Questions About the Audit


Statement of Operations


A comparison of 2013-2014 revenue and expenses to budget

ActualJun 1/13-May

31/14

BudgetJun 1/13-May

31/14

Registered OTsAnnual Registration Fees(Practising & Non Practising)

679$425/170

625$425/190

Levy $50/20 $50/20

REVENUE Member Fees Other Registration Income Investment Income Other Revenue IT Levy

$299,457558

6,6680

30,000

$256,200700

7,0000

30,000

TOTAL REVENUE $ 330,683 $323,875

2013/2014 STATEMENT OF OPERATIONS

EXPENSES Miscellaneous Council & Committee Expenses Executive Director Meeting Expense CC Program Development Education/Training Projects Association Dues Membership Refunds Office: Courier/Fax/Post/Phone Recovered Expense (Phone) Office: Supplies Recovered Expense (Supplies)

$ 1,8597,5761,782

25,40200

1,5680

11,358-444

1,461-300

$ 256,5003,125

25,0002,1002,0001,7002,000

12,660-444

3,360-300

ActualJun 1/13-May 31/14

BudgetJun 1/13-May 31/14


EXPENSES Office: Copying/Printing Office: Technology Upgrades & Maintenance Office: Maintenance Office: Depreciation Expense (Furniture) Office: Depreciation Expense (Computer) Casual Office Support Insurance Rent Recovered Expense (Rent) Bank Charges

$ 3,253

1,759158

0

93410

2,40413,860

-900510

$ 3,500

3,000210

0

931,2003,500

13,428-900600

ActualJun 1/13-May 31/14



EXPENSES

Professional Fees Professional Fees - Legal Wages: /Salary/Wages& Benefits/Source Deductions Recovered Expense (Wages- Contract) Recovered Expense (Wages- Anticipated) Transfer to Reserve Fund Integrated Technology Solution

13,00856,229

159,740

4,63337,030

15,00015,000

163,066

-2,316

-12,0002,828

60,000

TOTAL EXPENSES $ 342,335 $ 323,875

NET INCOME/NET LOSS $ 0 $ 0

2013/2014 STATEMENT OF OPERATIONSActual

Jun 1/13-May 31/14


Questions About the Statement

of Operations


2014-2015 Budget - including a comparison to

the 2013-2014 Budget


At the end of this section, you will be asked to vote on the 2014-2015 Budget.


ProjectedJun 1/14-

May 31/15

BudgetJun 1/13-May

31/14

Annual Registration Fees(Practising & Non Practising)

$475/190 $475/190

Levy $40/16 $50/20

REVENUE Member Fees Other Registration Income Investment Income Other Revenue Levy Income

$298,075675

1,3440

25,000

$286,200675

7,0000

30,000

TOTAL REVENUE $ 325,094 $323,875

2014/2015 BUDGET COMPARATIVE

EXPENSES Miscellaneous Council & Committee Expenses Executive Director Meeting Expense CC Program Development Education/Training Projects Association Dues Membership Refunds Office: Courier/Fax/Post/Phone Recovered Expense (Phone) Office: Supplies Recovered Expense (Supplies)

$ 256,5004,125

25,0002,1002,0001,7002,500

12,660-444

3,000-300

$ 256,5003,125

25,0002,1002,0001,7002,000

12,600-444

3,360-300

ProjectedJun 1/14-May 31/15



EXPENSES Office: Copying/Printing Office: Technology Upgrades & Maintenance Office: Maintenance Office: Depreciation Expense (Computer) Casual Office Support Insurance Rent Recovered Expense (Rent) Bank Charges

$ 3,500

3,000210

01,2003,500

15,264-900600

$ 3,500

3,000210

931,2003,500

13,428-900600

ProjectedJun 1/13-May 31/14



EXPENSES

Professional Fees Professional Fees - Legal Wages: /Salary/Wages& Benefits/Source Deductions Recovered Expense (Wages- Contract) Recovered Expense (Wages- Anticipated) Transfer to Reserve Fund Integrated Technology Solution

15,00024,000

172,306

-2,436

-12,60025,00013,872

15,00015,000

163,066

-2,316

-12,0002,828

60,000

TOTAL EXPENSES $ 325,094 $ 323,875

NET INCOME/NET LOSS $ 0 $ 0

2013/2014 BUDGET COMPARATIVEProjected

Jun 1/14-May 31/15


Questions prior to the motion about any items in the

Treasurer’s Report?


Motion to Approve the 2013 - 2014

Projected Budget


Registrar’s Report


Board of Assessor’sReport


CommitteeReports


Committee Reports:

• Executive• Legislation• Practice Issues


• Investigation• Inquiry• Continuing Competence

Report of the Nominations Coordinator


Election of the Council Members


Election of the Nominations Coordinator


Appointment of the Auditor


New Business


Adjournment


welcome to the 43 rd annual general meeting. call to order college of occupational therapists of...

Documents

statements of operations

audit opinion

audit procedures

audit evidence

canadian accounting

entitys internal control

risks of material misstatement

entitys preparation