November/December 2009 - Ontario College of Pharmacists

council report - September 2009
Council Approves 2010
Capital and Operating
Budget
At the September 2009 Council
meeting, College Council voted in
favour of approving the proposed
capital and operating budget for 2010,
which takes into account the additional
resources required to address
significant changes in the profession
that are anticipated in the next couple
of years. These include:
• Integration of Pharmacy Technicians
into the College’s regulatory
framework;
• Legislative changes to expand the
scope of practice for the profession;
and
• Technology innovations relating to
pharmacy services.
The budget also provides for an
anticipated prosecution of a nonpharmacy
operation through the
provincial courts.
To cover the increase in costs, the
budget proposes an adjustment of
approximately 11 per cent increase to
fees associated with registration, accreditation
and renewal. In addition,
Council approved a deficit budget for
the current operating year 2009 to
reduce accumulated reserve funds.
Specific increases proposed are:
• Part A annual fees from $537.91
to $600 (initial filing after Sept 1
and Part B - $300)
• Pharmacy Technician annual fees
from $355.02 to $400 (initial filing
after Sept 1 - $200)
• Pharmacy annual fees from
$771.72 to $860.00
• Registration Fees – filing fee from
$118.33 to $130.00
• Registration Application Fees
from $184.89 to $205.00
• Registration Training Fees from
$369.78 to $410.00
• JP Seminar Fees from $79.24 to
$90.00
• All JP Examination fees from
$153.19/$306.39 to $200.00
The fee increases will deliver a
small operating surplus with the deficit
after capital to be drawn from
reserves.
Council further discussed the
rationale for setting Pharmacy Technician
annual fees equal to two-thirds
that of Part A Pharmacist fees and
while it was acknowledged that the
cost of regulating a profession may
be similar across membership classes,
Council considered the ranges in fees
to appropriately reflect the respective
scopes of practice for each class of
registrant.
Approved 2010 Budget Summary
Council Approves Appointment
of Clarke Henning LLP
as Auditors for 2009
Consistent with Finance policy that
external services be tested against the
market every five years, the financial
and audit services were taken to the
market in the spring of 2008. Following
a comprehensive analysis, the
Finance Committee recommended
that the firm Clarke Henning LLP,
Chartered Accountants, be appointed
as Auditors for the College for that
year. The firm has since undertaken
three audits—an audit of the College’s
Defined Contribution Pension
Plan, an audit of the College’s Registration
Practices and a Financial Audit
and Preparation of Year End Financial
Statements for 2008. Clarke Henning
is registered with the Canadian Public
Accountability Board and has committed
to not raising their fees beyond
the CPI for the first three years of
their engagement.
Member Fees . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,223,500
Pharmacy Fees . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,020,150
Health Profession Corporation . . . . . . . . . . . . $ 36,300
Registration Fees and Income . . . . . . . . . . . . . $ 1,565,250
Investment Income . . . . . . . . . . . . . . . . . . . . . $ 10,000
Total Projected Revenue . . . . . . . . . . . . . . $11,855,200
Expenses
Council, Committee & District Meetings . . . . $ 2,959,866
College Administration . . . . . . . . . . . . . . . . . . $ 8,661,805
Property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 182,244
Total Expenses . . . . . . . . . . . . . . . . . . . . . . $11,803,915
Excess of Revenue over Expenses . . . . . . . . . . $ 51,285
Capital Expenditures . . . . . . . . . . . . . . . . . . . . $ (165,000)
Surplus (Deficit) after Capital . . . . . . . . $ (113,715)
pharmacyconnection • November/December 2009
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