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Treasurer’s Report for the Fiscal Year Ended February 28, 2019

A brief overview of the financial statements for the fiscal year ended February 28, 2019

Your union has been very active this past fiscal year (2018-2019) – negotiating improvements in the Independent Production Agreement including improved measures on harassment prevention, nudity and respectful workplace language and a rate increase of nine percent over the three-year term; 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 2018/19 Revenue of $5.9 million decreased by $56,200 or from the prior year. The decrease in revenue is attributable to a decrease in Equalization Revenue of $201,000 (12.65%) which was offset by an increase in Full Member per capita payments of $122,700 (3.2%) due to an increase in Full Member count and an increase in Apprentice Member per capita payments of $16,000 (4.0%) due to an increase in Apprentice Member count. Interest Revenue increased by $6,100. Consistent with Canadian accounting principles the investments held for trading were adjusted to their market value at year end.

Expenses:
Total Fiscal 2018/19 expenses of $5.8 million increased by $35,700 from the prior year.

In Fiscal 2018/19 Collective Agreement Negotiation and Administration costs were $76,300 (30.9%) lower than the prior year. The IPA was negotiated in Fiscal 2018/19 in one round of bargaining which resulted in significant costs savings compared to the NCA negotiations which took place in 2017/18.

National Organizing costs in Fiscal 2018/19 were $145,400 (90.1%) lower than the previous year. In 2018/19, ACTRA National discontinued the practice of sharing 50% of Industry Relations staff costs with ACTRA Montreal, ACTRA Toronto and UBCP/ACTRA.

Research expenses are $75,000 (20.9%) higher than last year. This is mostly due to the addition of a data analyst to the department.

External Relations costs are $145,100 (43.5%) lower than the previous year.  As the CLC Conference occurred in the 2017/18 fiscal year, there were cost savings of $58,400 in the current fiscal year. In addition, as ACTRA CLC affiliation fees are now based on working members, CLC affiliation fees for 2018/19 were $80,900 lower than the prior year.

Finance, Human Resources and Administration costs were $53,700 (4.2%) higher than the previous year due to increased staff costs for a maternity leave and an Accounting Manager which is shared with the Performers’ Rights Society.

A new line item was added for Sexual Harassment/Institutional Change in 2018/19 resulting in increased costs of $56,300.

Transfer payment to the Branches increased by $96,700 (584.6%) from the previous year. In addition, a transfer payment of $86,700 was made to the Performers’ Rights Society in the 2018/19 fiscal year.

All other Fiscal 2018/19 expenses account for an increase of $34,100 from the prior year.

Final results:
ACTRA National’s Fiscal 2017/18 Operating Surplus is $65,800. Consistent with the surplus policy established in October 2007, operating surplus in excess of $2 million will be distributed to the Branches and $65,800 will be distributed in this fiscal year. Consistent with Canadian accounting rules, the transfer to the Branches is recorded on the balance sheet.

Fiscal 2018/19 Compared to Budget 2018/19
The Operating Surplus for the fiscal year ending February 29, 2019 is $65,800 compared to the budgeted deficit of $155,984.

Revenue is $358,800 (5.7%) lower than budget due to lower equalization revenue.  Equalization Revenue for non-members working under the IPA is $277,600 (23.1%) and for non-members working under the NCA $77,600 (15.0%) lower than budget.

Total expenses are $580,600 (9.1%) lower than budget. National Organizing expenses are $25,700 (61.6%) lower than budget. Research Department costs are $33,300 (7.1%) lower than budget.  Collective Agreement Negotiation and Administration costs are $128,100 (42.8%); IPA and CBC negotiation costs were lower than budget as well as collective agreement administration costs. Public Policy and Communications expenses are $82,500 (9.1%) are lower than budget due to lower lobbying, 75th Anniversary and ACTRA Awards/Special Events costs. Sexual Harassment/Institutional Change expenses are $48,700 (46.4%) lower than budget due to a delay in the implementation of National Hotline. External Relations expenses are $48,800 (20.5%) lower than budget. Finance and Administration expenses are $46,600 higher (3.6%) than budget due to higher salary costs.  ITDS expenses are $227,000 (14.7%) lower than budget due to lower staff and capitalization costs. Other expenses were $33,100 (2.5%) lower than budget.

 

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