TREASURER REPORT Skills Society is standing on the path looking at the fork... One path, the uncomfortable and unfamiliar path, points towards exploring fund development teeming with learning and possibilities while being fraught with unknowns and their inherent risks. The other path, the more comfortable and familiar path, points towards continuing with the way we’ve always done things, providing a measure of predictability at the cost of developing greater possibilities for the future. Fortunately, Skills Society is not known for resting its feathers. It is an authentic learning organization equipping itself with the tools to navigate anything unexpected in the new landscape. Further, Skills Society’s orientation towards learning extends to its broader community of passionate, dedicated, supportive stakeholders. All that said, most vital for realizing the full potential offered by fund development is an engaged community willing to offer its ideas, talents and perspectives when the road gets bumpy or the bus gets a flat. As we increase Skills Society’s capacity to develop funds, we are hoping you will join the journey. A journey where you will certainly learn and laugh while making the Skills Society community stronger and more resilient.
“A peacock that rests its feathers is just another turkey”
The pandemic has remained the largest challenge to Skills Society. However, I am pleased to say that to date it has not significantly affected our financial position. The 2020/2021 fiscal year for Skills Society has ended on a positive note. Our fundraising efforts have resulted in a larger than expected surplus for the year. The federal and provincial government also have provided additional funding for one time pandemic wage top ups for our hard working front line staff. Skills Society recorded just over $22.20 million revenue in the current year which was almost $254,000 higher than the original budget. Total expenses for the year were $21.93 million, or about $91,000 higher than budget. Skills Society has a small surplus prior to amortization and casino of just over $272,000 in the current year, compared to a surplus of just over $153,000 reported in 2020. After amortization and casino, Skills recorded a surplus of just over $229,000 in the current year compared to just over $64,000 in the prior year. Due to efficiently managing our budget, Skills Society has been able to replenish reserves back to 2017 levels. This provides some stability as we move ahead. All government contracts are now in year two of three year terms. Looking to the 2021/2022 year, Skills Society is anticipating a balanced budget.
Rochelle Mitchell, CPA, CA Treasurer
Dolly Parton
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