CDHO Annual Report 2009 - College Of Dental Hygienists of Ontario

More documents

Recommendations

Info

COLLEGE OF DENTAL HYGIENISTS OF ONTARIO STATEMENT OF CASH FLOWS Year ended December 31 2009 2008 SOURCES (USES) OF CASH Operating activities Excess of revenues over expenses $ 386,822 $ 625,222 Items not involving cash Unrealized (gain) loss on bonds classified as held-for-trading 34,516 (131,053) Amortization - equipment and leaseholds 63,327 20,338 484,665 514,507 Changes in non-cash working capital items Accounts receivable (56,671) (72,791) Prepaid expenses 83,236 (30,408) Accounts payable and accrued liabilities 56,742 2,503 Registration fees received in advance 220,900 344,175 Labour mobility funding (40,473) 40,473 Cash provided by operating activities 748,399 798,459 Investing activities Short-term investments matured 3,697,181 3,300,985 Purchase of short-term investments (4,139,732) - Purchase of long-term investments - (2,413,948) Acquisition of equipment and leaseholds (401,827) (8,230) Cash provided by (used in) investing activities (844,378) 878,807 Net increase (decrease) in cash (95,979) 1,677,266 Cash, beginning of year 1,905,151 227,885 Cash, end of year $ 1,809,172 $ 1,905,151 Other cash flow information: Long-term investments transferred to short-term $ 3,612,615 $ 3,697,180 The accompanying notes are an integral part of the financial statements 32 CDHO Annual Report 2009 5
COLLEGE OF DENTAL HYGIENISTS OF ONTARIO NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2009 1. Inception The College of Dental Hygienists of Ontario ("the College") was created on December 31, 1993 pursuant to the proclamation of the Regulated Health Professions Act, 1991 and the Dental Hygiene Act, 1991. The legislation, generally, defines the practice of the Profession of Dental Hygiene in Ontario and provides for the election and appointment of individuals to the governing Council. 2. Description of organization and income tax status The College is a not-for-profit organization whose stated objective is to regulate the practice of dental hygiene in the interest of the overall health and safety of the public of Ontario. The College is exempt from income tax under section 149(1)(1) of the Income Tax Act. Registration remains valid so long as the College continues to fulfill the requirement of the Act and regulations in respect of non-profit organizations. 3. Significant accounting policies Use of estimates The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Revenue recognition The College follows the deferral method of accounting for registration and examination fees. Certificate of registration fees are recorded as revenue in the fiscal year to which they relate. Labour mobility funding is recognized as revenue in the year in which the related expenses are incurred. Investments Investments consisting of fixed income instruments and term deposits are designated on initial recognition as held-for-trading and recorded at fair value. Fair values are estimated using quoted market prices. The purchase and sale of investments are accounted for using trade-date accounting. Transaction costs associated with the acquisition and disposal of investments are expensed in the period incurred. Investment income includes interest income and realized and unrealized gains and losses. Bonds and term deposits with maturity dates within twelve months are classified as short-term investments. 6 CDHO Annual Report 2009 33
Page 1 and 2: Annual Report 2009
Page 3 and 4: Contents Section I Message from the
Page 5 and 6: Linda Jamieson, RDH President The C
Page 7 and 8: CDHO Staff Fran Richardson, RDH, BS
Page 9 and 10: Executive Committee Part II Prior t
Page 11 and 12: document, the Panel approved her ap
Page 13 and 14: her own expense with an emphasis on
Page 15 and 16: In the year 2009, there were no ref
Page 17 and 18: f. Costs to be paid to the College
Page 19 and 20: 4. The Registrar shall impose a spe
Page 21 and 22: • Another case dealt with allegat
Page 23 and 24: Fitness to Practice Committee The F
Page 25 and 26: • A new visual identity - a new l
Page 27 and 28: COLLEGE OF DENTAL HYGIENISTS OF ONT
Page 31: COLLEGE OF DENTAL HYGIENISTS OF ONT
Page 37 and 38: CDHO Annual Report 2009 37

CDHO Annual Report 2009 - College Of Dental Hygienists of Ontario

Create successful ePaper yourself

Delete template?

Save as template?