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eFlash! 2014-09

2014 AGM — Annual General Meeting /
AGA 2014 — Assemblée générale annuelle

Treasurer’s Report / Rapport du trésorier

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I am very pleased to report on the financial situation of the CEC at the close of my first year as CEC treasurer. I will discuss the main details of the financial report, which indicates a healthy surplus at the end of this financial year.

Institutional Income Sources

The Writing & Publishing section of the Canada Council for the Arts (CCA) has supported eContact! since its first volume of 4 issues some 17 years ago. Funding in the amount of $19 800 has been awarded to the CEC for the 2014–15 fiscal year for the publication of issues 17.1–17.4.

The CEC continues to receive SOCAN Foundation support in the form of an annual Core Funding grant. This is spread across various projects and administrative tasks as needed. We are happy to announce that not only was the amount awarded for 2014 raised to $12 000 (from $9000 in 2012 and 2013), but also that a further — unexpected — $2000 was awarded this past fiscal year, thanks to SOCAN Foundation surplus in 2013.

Financial Report

Page two (2) of the 2013–14 Financial Report provides an overview of the revenues and expenses for the 2013–14 fiscal year. As has for many years been the case, the largest contribution comes from the Canada Council for the Arts’ Writing & Publishing section, with another important contribution from the SOCAN Foundation (Core Funding). Further revenues come in the form of membership dues and donations to JTTP.

Principal expenses are the CEC’s administrative salaries and “Professional Fees” (contracted work such as Guest Editors, translation and the CEC’s accountant), production costs (this year mainly $3000 set aside for SONUS) and communications (internet, web hosting, telephone, etc.).

Total revenues ($39 668) minus total expenses ($38 813) leave a surplus of $855 for the 2013–14 fiscal year.

Page one (1) explains the financials of the 2013–14 year and the CEC’s financial situation as of 31 May 2014. Looking at the summary at the bottom of the page, we see that the CEC’s total Assets ($22 376 in the bank, with no outstanding revenues) minus Liabilities ($16 480 accounts payable but not yet spent as of 31 May 2014) gives a Net Asset of $5896. Accounts payable this year represents money allocated for eContact! professional fees and Cache CD production and distribution, as well as money for the upcoming SONUS upgrade (mentioned in the President’s Report).

The financial situation of the CEC for the 2014–15 fiscal year is summarized in the Annex found on page three (3): Net Assets plus the remaining payment for the SOCAN Foundation 2014 Core Funding grant plus the confirmed Canada Council Writing & Publishing grant leave the CEC with a “working balance” of $31 696.


In closing, we wish to thank our funders and supporters, the Canada Council, the SOCAN Foundation, our many members in Canada and abroad for their on-going support of the CEC’s activities. We are happy to be able to continue to serve the EA community with projects such as eContact!, the CEC’s online journal for EA, Jeu de temps / Times Play, the annual project supporting young and emerging composers and sound artists in Canada, and SONUS, the online Jukebox for EA.

Shawn Pinchbeck
Treasurer of the CEC
Wednesday, 13 August 2014

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