eFlash! 2025-08

2025 AGM — Annual General Meeting / AGA 2025 — Assemblée générale annuelle

Treasurer’s Report / Rapport du Trésorier

Index & Agenda | President’s Report

Financial Report for the 2024–25 Fiscal Year

The following is a report on the CEC’s financial situation at the end of the 2024–25 fiscal year with a perspective on the current fiscal year, 2025–26.

Please refer to the Financial Report provided to members prior to the AGM.

Overview of the CEC’s Financial Situation

Assets and Liabilities

On the first page of the Financial Report, assets and liabilities for the 2024–25 fiscal year are summarized:

• Assets (Actifs) — the total of available funds in the CEC’s main bank account, placement account (funds for JTTP Thematic Awards) and PayPal plus Accounts Due is $31,703;
• Liabilities (Passif) the total liabilities from Accounts Payable plus donations earmarked for JTTP awards (through 2025) plus grants received in advance are $25,885;
• Assets minus Liabilities leave a Net Asset of $5,818.

Accounts Due consist of membership dues owing (projected to be recovered) and a small balance for membership payments remaining on PayPal at the end of the fiscal year.

Accounts Payable consist of professional fees owed to the CEC’s translator and accountant, and production costs related to the JTTP 2023 concert in Liepaja (Latvia) in April 2024. Donations Received in Advance for the JTTP Thematic Prizes in 2024 through 2028. Grants Received in Advance for the SOCAN Foundation grant attributable to the 2nd half of the calendar year, received at the start of the year.

Revenues and Expenses

The second page of the Financial Report offers an overview of revenues and expenses (by category). Primary sources of revenue were the SOCAN Foundation (Core Funding), membership dues and private donations (for JTTP). Principal expenses were subcontracting (administrative salaries) and professional fees (JTTP cash prizes, translation and accounting), as well as communications- and office-related expenses.

The difference in total revenues ($42,388) and total expenses ($41,400) means that the CEC’s revenues exceeded its expenses by $989 for the last fiscal year, putting us into the black.

Financial Forecast

The Annex on the third page of the Financial Report provides informal, simplified summaries and projections. The first table reflects what was described above. The second table shows projected funds and revenues for the current fiscal year: Net Assets plus the confirmed Annual Operations grant, plus projected membership fees and JTTP donations leave the CEC with a  “working balance” of $48,218 for 2025–26.

Revenue Sources

Institutional

SOCAN Foundation. reverted to an annual funding model (it was briefly multi-year), no increase in funding since 2023 currently $30,000 per year. We just submitted the funding applications. We expect the results later this year for 2026. We will inform the membership of the results in a future edition of eFlash! We wish to thank the SOCAN Foundation for their continued support!

Other

The JTTP prize packages are the result of private donations and materials solicited from institutional and individual partners in Canada and abroad. In 2021, under Kevin Austin’s initiative, the first four JTTP Thematic Awards were launched. From 2021 through 2025, the awards are foundationally supported through a generous donation from Kevin. Last year, Kevin renewed his commitment to support these and three more awards for another five years. We thank Kevin for his continued support of the JTTP Thematic Awards!

We send a huge thanks out to all our partners for the wonderful prize packages the CEC is able to offer the JTTP winners (the value of which is over $3800), in addition to the cash prizes offered to winners and thematic award recipients (total value of $2800).

One last item, I gently remind those members who have not yet paid their membership dues for 2025–26 do so at their earliest convenience. Membership dues are another important component of the CEC’s revenues and therefore also help the CEC maintain the quality and scope the community expects from us in all our endeavours. If you are unsure of your membership status, please contact our administration to clear things up for you.

A Positive Outlook

On behalf of the Board of Directors, I present a Financial Report in the black by $989! Our continued SOCAN funding should maintain stability and sustainability for our future operations and programmes with an outlook to hopefully grow funding for our future outreach projects. On other positive news, our membership numbers are stable, providing another solid financial source that helps fund our various endeavours. I am pleased to be presenting a Financial Report this year that is a slight surplus after a small deficit last year.

Shawn Pinchbeck
Treasurer of the CEC
Viljandi, 20 August 2025