The complete audited financial statements are available by contacting
CLPNA at 780.484.8886
FINANCIAL
HIGHLIGHTSStatement of Financial Position
2013 |
2012 | |
assets | ||
current | ||
Cash | $4,608,319 | $658,080 |
Cash held for restricted funds | 15,000 | 243,839 |
Short-term investments | 2,500,302 | 6,117,473 |
Accounts receivable | 2,450 | 82,718 |
Goods and services tax recoverable | - | 23,031 |
Prepaid expenses | 12,309 | 162,890 |
7,138,380 | 7,288,031 | |
investments restricted for endowment fund | 3,279,439 | 3,132,645 |
capital assets | 655,553 | 480,423 |
$11,073,372 | $10,901,099 | |
LIABILITIES | ||
current | ||
Accounts payable and accrued liabilities | $584,597 | $392,568 |
Goods and services tax payable | 6,764 | - |
Deferred grant revenue | 15,000 | 249,791 |
Prepaid registration fees | 3,976,700 | 3,596,165 |
4,583,061 | 4,238,524 | |
LEASE INDUCEMENT | 133,912 | 127,688 |
4,716,973 | 4,366,212 | |
NET ASSETS | ||
Unrestricted | 2,421,535 | 1,801,689 |
Restricted net assets | ||
Endowment Fund | 3,279,311 | 3,132,517 |
Refresher Bursary Fund | - | 1,120,257 |
Capital Fund | 655,553 | 480,424 |
6,356,399 | 6,534,887 | |
$11,073,372 | $10,901,099 |
General Fund and Capital Fund
Statement of Operations
2013 |
2012 | |
REVENUE | ||
Registration fees | ||
Active | $3,967,656 | $3,584,613 |
Out of province assessment | 276,776 | 91,467 |
Initial | 45,025 | 40,075 |
Late | 43,830 | 33,420 |
Reinstatement | 16,650 | 14,350 |
Fines | 22,500 | 16,750 |
Associate | 23,479 | 21,625 |
License verification | 15,406 | 10,248 |
Document fees | 105 | 524 |
National examinations | 405,366 | 315,120 |
Annual general meeting | 177,274 | 198,172 |
Alberta Health and Wellness grant | - | 98,725 |
Foreign Qualifications Recognition grant | 2,021 | 84,976 |
International Educated Nurses Repatriation grant | 32,187 | 136,064 |
Labour Market Partnerships grant | 32,550 | 247,420 |
Occupational Health and Safety grant | 14,897 | 7,603 |
Continuing competency profile | 59,010 | 49,620 |
Program fees | 16,143 | 34,225 |
Advertising | 14,888 | 25,171 |
Interest income | 64,631 | 55,329 |
Miscellaneous | 8,386 | 2,245 |
5,238,780 | 5,067,742 | |
EXPENSES | ||
Administration | ||
Marketing | 69,252 | 142,550 |
Rent and occupancy costs | 245,857 | 181,815 |
Office and computer | 208,698 | 174,988 |
Amortization of capital assets | 142,095 | 137,855 |
Bank charges and interest | 100,684 | 87,157 |
Postage | 22,979 | 40,097 |
Professional fees | 61,575 | 53,993 |
Telephone and utilities | 28,699 | 27,765 |
Consulting fees | 42,482 | 13,825 |
Printing | 9,914 | 6,232 |
Loss on disposition of capital assets | 1,512 | - |
Travel | 50,377 | 52,089 |
Jurisprudence project | 22,734 | 13,149 |
Alberta Health and Wellness | - | 98,725 |
Foreign Qualifications Recognition | 2,021 | 84,976 |
International Educated Nurses Repatriation | 32,187 | 136,064 |
Labour Market Partnerships | 32,550 | 247,420 |
Occupational Health and Safety | 14,897 | 7,603 |
Schedule of Personnel Costs | 1,688,657 | 1,276,654 |
Schedule of Cost of Services | 1,666,635 | 1,499,953 |
4,443,805 | 4,282,910 | |
EXCESS OF REVENUE OVER EXPENSES | $ 794,975 | $784,832 |
Endowment Fund
Statement of Operations
2013 |
2012 | |
REVENUE | ||
Investment income | $ 94,896 | $95,250 |
Unrealized gain on portfolio investments | 59,711 | 121,889 |
Gain on disposal of long-term portfolio investment |
101,424 | 16,569 |
256,031 | 233,708 | |
Exspenses | Brokerage fee | 22,190 | 20,692 |
Donation to Fredrickson McGregor Education Foundation |
87,047 | 107,584 |
109,237 | 128,276 | |
EXCESS OF REVENUE OVER EXPENSES | $146,794 | $105,432 |
Statement of Changes in Net Assets
NET ASSETS AT BEGINNING OF YEAR | Excess of revenue over (under) expenses | Investment in capital assets | Repayment of funds | NET ASSETS AT END OF YEAR | |
Unrestricted | $ 1,801,689 | $ 938,582 | $ (318,736) | $ - | $ 2,421,535 |
Capital Fund | 480,424 | (143,607) | 318,736 | - | 655,553 |
Endowment Fund | 3,132,517 | 146,794 | - | - | 3,279,311 |
Refresher Bursary Fund | 1,120,257 | 8,867 | - | (1,129,124) | - |
$ 6,534,887 | $ 950,636 | $ - | $ (1,129,124) | $ 6,356,399 |