FINANCIAL

HIGHLIGHTS

The complete audited financial statements are available by contacting
CLPNA at 780.484.8886

Statement 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