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Financial Highlights
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Statement of operations (in thousands of dollars)
Revenue
2023
2022
Municipal
214,919
214,919
Other
26,117
27,094
Interest and Dividend Income
5,097
4,297
Total Revenue
246,133
246,310
Expenses
2023
2022
Salaries and Benefits
199,198
193,095
Professional Services
10,978
11,909
Information Technology
11,783
11,732
Facilities
8,567
8,600
General and Administrative
8,203
6,937
Royalties
2,697
4,290
Amortization of Capital and Intangible Assets
3,002
3,171
Gain on Disposal of Capital Assets
(119)
(618)
Total Expenses
244,309
239,116
Excess of Revenue Over Expenses for the Year Before Changes in Fair Value of Investments
1,824
7,194
Changes in Fair Value of Investments
7,998
(13,711)
Excess (Deficiency) of Revenue Over Expenses for the Year
9,822
(6,517)
Statement of changes in net assets (in thousands of dollars)
2023
2022
Net Assets - Beginning of Year
105,614
95,792
Excess (Deficiency) of Revenue Over Expenses for the Year
9,822
(6,517)
Net Actuarial Gain/(Loss) on Employee Future Benefits
(3,104)
16,339
Net Assets - End of Year
112,332
105,614
*Note: the above is an excerpt from the 2023 Audited Financial Statements prepared in accordance with Canadian accounting standards for not-for-profit organizations, and should be read in tandem with the audited statements.