Finance Committee
2013 YearEnd Report
My first year as Treasurer for NGPCA has been both challenging as well as a great
learning experience. We have focused on our cashflows and budgeting to manage
and reduce our current deficit, while maintaining investing activities to ensure the
long-term viability of our Facility and Community Association. Here are the key
highlights of the past year;
Financial Highlights
 Improved financial process, implementing better controls and policies for
internal accounting (accounts receivable, payroll, deposits)
 Sold Pre-Fab building (Hall Expansion -2005) for $19,000 cash, and $134,000
writedown
 Invested $40,000 in the Flames-Centennial Arenas (SWAS) to help reduce
their capital debt (NGPCA is 4.8% owner in SWAS)
 Donated $9,400 towards local Flood Relief programs (Calgary Foundation,
Red Cross, and Salvation Army)
 Reinvested $360,000 of Cash into short-term GIC’s
 Bingo Pool income of about $40,000 – we are now spending bingo funds on
some approved operating expenses
 Casino (May, 2013) income of $69,600
2013/14 Budget Highlights
 Focused on understanding of operating statement with re-allocation of both
revenue and expenditures (Federation of CC accounting)
 Full budget process developed with Phil, and reviewed by staff, exec and
committees
 Target to increase Operating Revenue by about 17% through increase
facility utilization (non-prime time) and better cost recovery (storage), as
well as Community program and event fees where appropriate
 Target to reduce Operating Expenses by about 15% through better
management of costs, review of contracts, and increased operating
efficiencies
 Increase in Community events and programs expenditure by 60%
We continue to have strong financial position of both Cash (restricted and
unrestricted, $927,500) and Capital Assets (remaining amortization pool,
$309,000).
We have recently contracted Karen Murphy to do our internal accounting and
manage our bookkeeping. Karen comes with strong credentials working with
Huntington Hills CA. With Karen’s support we will be able to have much better
control over our finances and help us to continue to grow our Facility and
community association.
Finally big thanks to our staff who helped with our financial improvements. Also
MaryAnn Lyons (former board member) for her dedicated assistance during our
management changeovers.
Kevin Baggott
NGPCA Treasurer