eFlash! 2026-09

2026 AGM — Annual General Meeting / AGA 2026 — Assemblée générale annuelle

Treasurer’s Report / Rapport du Trésorier

Index & Agenda | President’s Report

Financial Report for the 2025–26 Fiscal Year

The following is a report on the CEC’s financial situation at the end of the 2025–26 fiscal year with a perspective on the current fiscal year, 2026–27.
Please refer to the Financial Report in the documents 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 2025–26 fiscal year are summarized:

1. 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 $34,471;
2. Liabilities (Passif) the total liabilities from Accounts Payable plus donations earmarked for JTTP awards (through 2026) plus grants received in advance are $28,917;
3. Assets minus Liabilities leave a Net Asset of $5,554.

Accounts Due consist of membership dues owing (projected to be recovered).
Accounts Payable consist of professional fees owed to the CEC’s accountant, and production costs related to JTTP. 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 ($35,689) and total expenses ($35,953) means that the CEC’s expenses exceeded its revenues by $264 for the last fiscal year, putting us slightly into the red.

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 $26,954 for 2026–27.

Revenue Sources

Institutional

SOCAN Foundation is ending their funding programs. There will be three final years of support, as the program winds down. We will receive $30,000 for the first year (2026), $20,000 for the second year, and $10,000 for the third and final year. $10,000 from this fiscal year will be kept in reserve for year three, so that we will have $20,000 budgeted for each of the next three years. We wish to thank the SOCAN Foundation for their support over the years and as their programs winds down.

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. In 2024, 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).
On page 2, under miscellaneous expenses, there is a $2,376 expense for travel costs for JTTP composers to be at the concerts in Edmonton and Saskatoon this last fiscal year.
One last item, I gently remind those members who have not yet paid their membership dues for 2026–27 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 Stable Outlook in Transition

On behalf of the Board of Directors, I present a Financial Report slightly in the red this year by $264, after a surplus on last year’s financial statements. Our current SOCAN funding should maintain stability and sustainability for our next three years of operations and programmes. As SOCAN funding winds down, the board and staff will seek new funding and program initiatives to put the CEC back onto a stable course. Currently, there is less income from dues on this financial report; a further drive to bring members dues up to date could help with this decline. Despite the negative effects of the loss of SOCAN Foundation funding and an administrative transition year after Jef Chippewa’s departure, the board and administrators of the CEC are working hard to forge a stable future with new directions and opportunities.
Shawn Pinchbeck
Treasurer of the CEC
Edmonton, 30 August 2026