result
Financial Highlights
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Statement of Operations (in thousands of dollars)
Revenue
2022
2021
Municipal
214,919
214,919
Other
27,094
23.601
Interest and Dividend Income
4,297
3,353
Total Revenue
246,310
241,873
Expenses
2022
2021
Salaries and Benefits
193,095
186,315
Professional Services
11,909
13,320
Information Technology
11,222
11,222
Facilities
8,600
8,581
General and Administrative
6,937
6,096
Royalties
4,290
4,024
Amortization of Capital and Intangible Assets
3,171
3,601
Gain on Disposal of Capital Assets
(618)
(65)
Total Expenses
239,116
233,094
Excess of Revenue Over Expenses for the Year Before Changes in Fair Value of Investments
7,194
8,779
Changes in Fair Value of Investments
(13,711)
6,998
(Deficiency) Excess of Revenue Over Expenses for the Year
(6,517)
15,777
Statement of changes in net assets (in thousands of dollars)
2022
2021
Net Assets – Beginning of Year
95,792
77,187
Excess of Revenue Over Expenses for the Year
(6,517)
15,777
Net Actuarial Gain (Loss) on Employee Future Benefits
16,339
2,828
Net Assets - End of Year
105,614
95,792
*Note: the above is an excerpt from the 2022 Audited Financial Statements prepared in accordance with Canadian accounting standards for not-for-profit organizations.