SUMMARY STATEMENT OF OPERATIONS FOR THE YEAR ENDED SEPTEMBER 30 , 2021
REVENUE 2021 2020
Registration fees $ 5,173,594 $ 5,056,783
Corporate registration fees
177,000 105,900
Penalties and other 149,443 102,589
Application and examination fees
85,325 74,688
Interest 66,587 91,121 Premises inspection fees 41,324 140,531
5,693,273 5,571,612
EXPENSES 2021 2020
Staffing and related 2,400,506 2,299,760 Legal 888,250 1,083,462
Information management system
337,058 328,347
Council and committees 256,403 289,730
Bank and credit card charges
173,727 158,897
Office facilities 126,120 140,977 Exam administration 112,197 12,932 Policy development 105,647 65,314 Insurance 85,735 83,371
Investigations and hearings
76,249 95,890
Office and general 66,593 85,654
Professional health program
58,056 78,248
Communication 52,161 63,951 Accounting and audit 44,845 46,785 Quality assurance 27,007 42,044 Premises inspections 25,043 40,302 Special projects 21,624 77,219
Networking and representation
6,996 28,031
Amortization 190,092 264,888 5,054,309 5,285,802
Excess of revenue over |
|
|
expenses for the year |
$ 638,964 |
$ 285,810 |
Criteria Applied in the Preparation of the Summary Financial Statements
The criteria applied by management in the preparation of these summary financial statements are as follows :
a ) the information in the summarized financial statements is in agreement with the related information in the complete financial statements ; and
b ) the summarized financial statements contain all the information necessary to avoid distorting or obscuring matters disclosed in the complete financial statements , including the notes therein .
Management determined that the statement of changes in net assets and the statement of cash flows do not provide additional useful information , and as such has not included them as part of the summary financial statements .
The College ’ s complete audited financial statements are available at
cvo . org .
College of Veterinarians of Ontario Annual Report 2021
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