Annual Report - Page 17

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