2020 VICA TREASURER REPORT

CHRIS LYONS

Omicron Construction Ltd.

The 2019/2020 fiscal year for the Vancouver Island Construction Association has proven to be strong, despite substantial challenges faced in the later part of 2020. The Association started in a strong financial position, and as the pandemic began to take hold, the Board and VICA Staff was quick to re-assess and adjust the budget accordingly. At year-end, we have come in better than budgeted and continue to maintain our financial strength.

The Construct Your Future program continues to supplement our revenue, particularly in these challenging times. The staff has worked to modify the program to address challenges with COVID and continue to push to keep this program running while exploring similar other options/initiatives. Once again, our CEO, Rory Kulmala and his staff must be given full credit for the ongoing success of the CYF program as well as improvements in the educational program. The Board of Directors has again noted their efforts over the past year and congratulate them on doing such a great job.

Our Auditors, KPMG, appointed in 2017, have been excellent to work with once again this year. KPMG presented their audit for the 2019/2020 fiscal year to the Board of Directors on September 24, 2020 and it was approved.

I would like to thank the Board of Directors, Finance and Risk Management Committee, VICA CEO and VICA Staff for their efforts over the past year to ensure that sound financial principles are followed. As a result of their efforts, VICA is in a solid financial position going into the 2020/2021 fiscal year.