2013-2014 Annual Report fmi igf
Audited Financial Statements
Management Discussion and Analysis
The Financial Management Institute of Canada maintains a healthy members’ equity exceeding $682,000 of which $250,000
is retained in a reserve fund. fmi igf has $276,346 of its net assets invested in guaranteed investment certificates that
generate interest revenue to support the organization’s activities.
In 2013-2014, fmi igf revenues equaled approximately $1.829 million, a decrease of more than $200,000 due to a noted
decrease of registrations to both PD Week and PSMW. This also affected our sponsors revenue with a reduction of close to
7% to $268,150.
Expenses in 2013-2014 totaled $1.732 million, resulting in an operating excess of $97,308. This surplus was made possible
by important cost reduction measures and from lesser expenses from fewer participants at our main events. Included in the
expenses of the year were the Chapter Investment Restricted Fund expenditures of $25,744 that were incurred for the
benefit of activities at our fourteen Chapters.
Extracts of the Audited Financial Statements are presented in a bilingual format on the next pages, for a complete version of
the document,
The Alan G. Ross Award
for Writing Excellence was created in 1979
for the best article in financial management appearing in the fmi igf
Journal. This annual award recognizes Alan G. Ross who was the first
President of the modern fmi igf organization in 1976. In 2013-2014 the
winner of the award was
Andrew Graham
of Queen’s University. His
winning article was entitled “What is Financial Literacy for the Public
Manager.”
fmi igf Recognition Awards
fmi igf operates with the efforts of many volunteers. This year we recognized a
very special individual for his significant contribution to fmi igf . It is with great
sadness that Mr.
Peter Wolters
passed away suddenly earlier this year. Peter had
always been a very strong supporter of our institution, spending countless years
volunteering at all levels of the organization including 10 years on the Fredericton
Board of Directors, two years as the Chapter President from 1997-1999 and again in
2013. He was also elected on the National Board of Directors for 5 years and was the
National President in 2006-2007.
Significant changes took place for the fmi igf organization during this time period
and Peter was involved in developing policies and procedures for the Chapter
Investment Fund, overseeing a review of the National Office staffing structure, and
coordinating the review of fmi igf policies and by-laws. For all his hard work and
invaluable contributions to the organization, Peter Wolters will be awarded the
fmi
igf Award of Excellence ,
posthumously at PD Week 2014.
