Governing Ourselves informs members of legal and regulatory matters affecting the profession. This section provides updates on licensing and qualification requirements, notification of Council resolutions and reports from various Council committees, including reports on accreditation and discipline matters.
Finance
Council approves 2011 College budget
A hit from the harmonized sales tax (HST) and inflation were factors that Council considered during its review of the College’s 2011 budget at the December 9–10 Council meeting.
The 2011 budget includes operating revenues of $31,979,000 – slightly less than for the previous year – and operating expenses of $31,914,714 before depreciation, capital purchases or changes in reserves.
2011 marks the first full year the College’s budget is affected by HST, which will cost us about $360,000 more.
Inflation, while still low at about two per cent, accounts for about $640,000.
The same budget goals that guided the first Council applied to the 2011 budget as well, namely that services be adequately funded with appropriate attention to economy, efficiency and effectiveness; that annual fees be maintained at the lowest possible levels, balanced against other financial objectives; and that resources continue to be accumulated to ensure the College’s financial stability.
More than 72,000 College members – a vital and critical component of the overall membership – pay their fees directly rather than through an employer and account for $8.6 million of College revenue. Roughly one-third of those members are retired, and two-thirds hope to gain employment in the profession.
Survey data suggests that the College’s membership will not wane any time soon, but that its rate of increase will not be as dramatic as in the past. The expected growth in membership will provide an additional $400,000 this year, which will help to cover the cost of inflation.
Total membership is forecast at 236,600 for 2011. The budget is based on 96 per cent of the membership renewing.
In the past the College charged evaluation fees to teachers transferring to Ontario from other provinces. Between 400 and 500 such teachers transfer on average every year. However, the Agreement on Internal Trade now prohibits those fees.
In 2010 Council approved a doubling up of the capital budget to allow for proper construction of the new facilities. The building and the renovation of the space within it enabled the College to integrate new equipment and technologies into the construction that will reduce energy consumption and operating costs.
Council also approved the allocation of $250,000 to the 2011 budget as a contingency. These funds will be returned to reserves if they are not used.
