2003-2004 - Ontario College of Pharmacists

More documents

Recommendations

Info

Financial Statements Auditor’s Report To the Council of the Ontario College of Pharmacists, We have audited the statement of financial position of the Ontario College of Pharmacists as at December 31, 2003 and the statements of operations, changes in net assets and cash flows for the year then ended. These financial statements are the responsibility of the College’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Canadian generally accepted auditing standards. Those standards require that we plan and perform an audit to obtain reasonable assurance whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. In our opinion, these financial statements present fairly, in all material respects, the financial position of the College as at December 31, 2003 and the results of its operations and its cash flows for the year then ended in accordance with Canadian general accepted accounting principles. The financial statements as at December 31, 2002 and for the year then ended were audited by other auditors who expressed an opinion without reservation on those statements in their report dated January 30, 2003. Toronto, Ontario February 5, 2004 Hilborn Ellis Grant LLP Chartered Accountants 12 OCP • ANNUAL REPORT 2003-2004
Statement of Operations Year ended December 31, 2003 2003 2003 2002 $ $ $ (note 2) (notes 7 and 8) Budget Revenues Pharmacist fees 4,643,192 4,783,443 4,297,717 Pharmacy fees 2,080,500 2,154,853 1,614,080 Registration fees and income 353,260 475,706 332,346 Investment 60,000 81,306 73,782 Sundry 216,433 214,582 223,699 7,353,385 7,709,890 6,541,624 Expenses (Schedule) Council and committees 1,791,100 1,700,626 1,743,301 Administration 5,046,938 4,679,160 4,800,944 Property 77,600 57,674 41,371 Niagara Apothecary 27,400 22,497 19,164 6,943,038 6,459,957 6,604,780 Excess (deficiency) of revenues over expenses from operations for year, before depreciation 410,347 1,249,933 (63,156) Depreciation - 531,511 398,039 Excess (deficiency) of revenues over expenses for year 410,347 718,422 (461,195) Statement of Changes in Net Assets Year ended December 31, 2003 Invested in Capital Assets Unrestricted 2003 2002 $ $ $ $ (notes 7 and 8) Balance, beginning of year 4,076,133 (257,682) 3,818,451 4,279,646 Excess (deficiency) of revenues over expenses for year (531,511) 1,249,933 718,422 (461,195) Investment in capital assets 361,376 (361,376) - - Balance, end of year 3,905,998 630,875 4,536,873 3,818,451 OCP • ANNUAL REPORT 2003-2004 13
Page 2 and 3: ONTARIO COLLEGE OF PHARMACISTS ANNU
Page 4 and 5: Optimism for Our Profession This ye
Page 6 and 7: Professionals Health Program The Co
Page 8 and 9: Quality Assurance (continued) Outco
Page 10 and 11: Discipline Case Summaries FINDINGS
Page 12 and 13: No. Finding Order/Result report to
Page 16 and 17: Statement of Financial Position Yea
Page 18 and 19: Schedule of Expenses (continued) 20
Page 20 and 21: 4. Capital assets 2003 2002 Cost Ac
Page 22 and 23: Number of Pharmacists by Employment
Page 24: 483 Huron Street, Toronto, ON, M5R

2003-2004 - Ontario College of Pharmacists

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?