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Treasurer’s Report for the Fiscal Year Ended February 28, 2018

A brief overview of the financial statements for the fiscal year ended February 28, 2018

Your union has been very active this past fiscal year (2017-2018) – negotiating improvements in the National Commercial Agreement; leading the industry’s reaction to the Weinstein sexual harassment revelations; advocating for increased work opportunities for Canadian performers at the CRTC, on Parliament Hill, and in international trade negotiations; and improving our information systems to better serve the ACTRA membership and the industry.

Revenue:
Fiscal 2017/18 Revenue of $6 million increased by $103,300 or 1.8% from the prior year. Equalization Revenue increased by $51,800 or 3.4%.  Full Member per capita payments increased by $26,800 from the prior fiscal year due to an increase in Full Member count of 0.8%. Apprentice Member per capita payments increased by $22,800 from the prior fiscal year reflecting an increase in Apprentice Member count of 6%. Consistent with Canadian accounting principles the investments held for trading were adjusted to their market value at year end.

Expenses:
Total Fiscal 2017/18 expenses of $5.8 million increased by $230,000 or 4.1% from the prior year.

 In Fiscal 2017/18 Collective Agreement Negotiation and Administration costs were $157,200 higher than the prior year. The NCA was negotiated in Fiscal 2017/18.

ACTRA participated at the Canadian Labour Congress Convention held in Toronto in May 2017. Related expenses in Fiscal 2017/18 were $58,200.

Fiscal 2017/18 Salaries are higher than last year by $85,100 or 2.5% due to contractual increases.

Public Policy & Communication expenses are $21,900 or 7.3% higher than last year. This is mostly due to expenses incurred to review the impact of NAFTA renegotiation on ACTRA’s members and the industry. In addition, ACTRA Magazine costs were higher than the previous year due to a larger publication to celebrate ACTRA’s 75th Anniversary.

Research & Bargaining expenses are $13,300 or 38.7% higher than last year. In FY 2017/18 ACTRA began a review of its policies and procedures related to bullying and harassment, which contributed to Research costs being higher than the prior year.

Information Services department expenses decreased by $35,400 or 12.2% from the prior year mostly due to lower director expenses and no external consulting expenses.

The Apprentice Member credit in FY 2017/18 was $17,900 or 30% lower than the prior year; both the number of Apprentice members becoming Full Members and the Credit decreased, by 4.5% and 22% respectively.

Transfer payment to the Branches decreased by $16,500 or 49.9% in FY 17/18 from the prior year.

All other Fiscal 2017/18 expenses account for a decrease of $35,900 from the prior year.

Final results:
ACTRA National’s Fiscal 2017/18 Operating Surplus is $157,700. Consistent with the surplus policy established in October 2007, operating surplus in excess of $2 million will be distributed to the Branches and $157,700 will be distributed in this fiscal year. Consistent with Canadian accounting rules, the transfer to the Branches is recorded on the balance sheet.

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