Director of Finance Report

The MDRAO is back to a firm financial standing. The massive deficit predicted for this year by our former management company has not come to pass. Our current company has consolidated the last three year’s records, and although there was a $14 377 loss last year, this year we will be in the black.

There was a loss on the conference but it was not as large as past years, despite the fact the provincial paid for many more members to attend than ever in the past. The board identified many ways more money can be saved now that we are not bound by previously signed contracts. It is also looking at having the management company run the next one because we also learned that putting on a good conference requires too much time away from other duties.

As always, the largest source of income for the MDRAO is the (now online) course. It has also been the biggest cost for the last couple of years. The board has signed a contract with Becker Associates to upgrade the course to reduce those costs.

The last form made for chapters to report their finances to the office did not work as well as hoped. The Director of Chapter Development, the Financial Manager and I are working on a new one for this year.

Watch for the new 2020-21 budget coming soon; all members vote on it at the Annual General Meeting.

Candia Anderson