Financial Statements
Summary Statement of Financial Position
as at September 30, 2015
2015
Summary Statement of Operations
for the year ended September 30, 2015
ASSETS
Current assets
Cash
Investments
Accounts receivable
Prepaid expenses
$
226,366
521,433
76,384
97,163
921,346
$ 187,610
397,794
86,703
84,654
756,761
1,088,000
988,000
1,055,507
$ 3,064,853
1,094,450
$ 2,839,211
Current liabilities
Accounts payable & accrued liabilities $ 241,606
Capital lease obligations
23,890
265,496
$ 295,414
6,451
301,865
Long-term investments
Capital assets
LIABILITIES AND NET ASSETS
Capital lease obligations - long term
102,399
367,895
2015
2014
23,760
325,625
Net assets
Capital reserve
242,678
Systems information reserve
44,834
Invested in capital assets
929,218
1,064,239
Unrestricted net assets
1,767,740
1,161,835
2,696,958
2,513,586
$ 3,064,853 2,839,211
$
2014
REVENUE
Registration fees
Premises inspection fees
Corporate registration
Application and examination fees
Penalties and other
Interest
Grants
$3,808,889
$ 4,147,264
130,907
130,341
106,000
68,133
54,770
44,550
52,127
56,961
43,954 36,799
26,400
9,900
4,561,422
4,155,573
EXPENSES
Staffing and related
Legal
Council and committees
Information management system
Investigations and hearings
Bank and credit card charges
Office and general
Policy development
Office facilities
Quality assurance
Insurance
Professional health program
Premises inspections
Networking and representation
Communication
Accounting and audit
Exam administration
Interest on capital lease
Amortization
1,625,008
1,679,721
937,487 672,923
289,356
293,581
176,921
185,776
155,074
74,259
148,806
121,868
125,697
177,725
125,675
96,335
124,287
143,541
110,004
79,876
71,409 66,395
71,200
73,457
53,519
49,135
49,794
65,246
41,051 40,247
35,592
35,925
11,862
2,520
1,493
222,788
301,005
4,378,050
4,158,508
EXCESS (DEFICIENCY) OF REVENUE
OVER EXPENSES FOR THE YEAR
$
183,372
$
(2,935)
Complete copies of the September 30, 2015 audited financial
statements are available from the College of Veterinarians of
Ontario on request.
Building Momentum - Annual Report 2015
Page 17