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Treasurer’s Report for the Fiscal Year Ended February 28, 2017

A brief overview of the financial statements for the fiscal year ended February 28, 2017

Fiscal 2016/17 Revenue of $5.9 million increased by $305,500 or 5.5% from the prior year. Equalization Revenue increased by $181,400 or 13.4%.  Full Member per capita payments increased by $97,300 from the prior fiscal year due to an increase in Full Member count of 2.7%. Apprentice Member per capita payments increased by $20,500 from the prior fiscal year reflecting an increase in Apprentice Member count of 5.9%. Consistent with Canadian accounting principles, the investments held for trading were adjusted to their market value at year end.

Total Fiscal 2016/17 expenses of $5.6 million increased by $153,200 or 2.8% from the prior year.

ACTRA’s Information Services costs increased by $492,400 or 55.1% from the prior year. The IS focus in Fiscal 2016/17 was the MFTS and AMS integration, and ACTRAonline.  The increase in costs was mostly due to resources needed for the two projects; 3 intermediate developers, 1 department manager and 1 project manager were added to the IS staff in Fiscal 2016/17. The integration of the MFTS and AMS systems went live on January 1, 2017. Congratulations to all involved in the project! The benefits of integrating the systems will serve the membership well. Development of ACTRAonline, an exciting new approach to how ACTRA works with engagers and membership services, began in the fiscal year. ACTRAonline will provide long-term benefits to ACTRA members. This increase in costs also reflects ACTRA’s ongoing commitment to provide excellent service to members across the country by upgrading software, hardware and network connections. Such upgrades will ensure the efficiency, stability and security of all systems.

In Fiscal 2016/17 Collective Agreement Negotiation and Administration costs were $238,600 lower than the prior year. The IPA was negotiated in Fiscal 2015/16.

Fiscal 2016/17 Salaries (excluding IS) are lower than last year by $70,000 due to vacant positions not filled.

All other Fiscal 2016/17 expenses account for a decrease of $30,600 or 1.7% from the prior year.

ACTRA National’s Fiscal 2016/17 Operating Surplus is $284,400. Consistent with the surplus policy established in October 2007, operating surplus in excess of $2 million will be distributed to the Branches and $284,400 will be distributed in this fiscal year. Consistent with Canadian accounting rules, the transfer to the Branches is recorded on the balance sheet.

Click here to view the audited financial statements.

Theresa Tova
ACTRA National Trea$urer

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