In unity there is strength

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TSUNAMI EXPENSES Recovery programming continued throughout the year in affected countries following the Asian Earthquake and Tsunami in 2004. Interest income earned on donations received in respect of this disaster is recognized as revenue in the year earned and as an expense in the year that it is spent. As a result, the ongoing expenditure of funds on Tsunami-related recovery programs from previously recognized interest of $4.9 million (2014 – $10.9 million) appears as a separate line on the statement of operations without an offsetting revenue amount. Separate audited financial statements for both the Asian Earthquake and Tsunami Fund and the Haiti Earthquake Fund are available on the Society’s website www.redcross.ca. DISCONTINUED OPERATIONS On September 25, 2014 the organization sold its shares in Red Cross Care Partners for cash consideration of $12.3 million, resulting in a net gain of $7.1 million. Proceeds of the sale were internally restricted by the Board in support of future strategic investments. The sale does not diminish our high commitment to community health and wellness, which remains a cornerstone of our work in Canada and internationally. We provide ongoing help to those in need through community support services including transportation, nutrition programs, personal support services, and health equipment loans. Additionally, we continue to invest in innovative solutions and partnerships to increase the overall health and safety of some of our most vulnerable residents. RISK MANAGEMENT AND PLANNING The annual budget and planning process is aligned with the organization’s assessment of operational priorities and associated risks. Mitigation measures are evaluated and monitored on an ongoing basis. Guided by Strategy 2020 and the organization’s risk profile, management is developing three-year operational plans and budgets. On a quarterly basis, the Board monitors financial performance against budget. LOOKING FORWARD Management is committed to making strategic investments to prepare for future challenges. A key investment priority for the current year is to augment our capacity in emergency preparedness and disaster response. Additionally, we are reviewing our operations and support services (including initiating a multi-year technology investment to upgrade our enterprise applications) as part of ongoing efforts to streamline the organization through efficiency, cost savings and control. We are grateful for the generosity of donors, the support of our partners and the efforts of our dedicated volunteers and staff. United in purpose, the Canadian Red Cross remains trusted by those in need across Canada and around the world. 24 Jimmy Mui, CPA, CA Chief Financial Officer
Auditor’s report Independent Auditor’s Report on Summary Consolidated Financial Statements To the Board of Directors of The Canadian Red Cross Society The accompanying summary consolidated financial statements, which comprise the summary consolidated statement of financial position as at March 31, 2015, the summary consolidated statement of operations for the year then ended, and related notes are derived from the audited consolidated financial statements of the Canadian Red Cross Society (the “Society”) for the year ended March 31, 2015. We expressed an unmodified audit opinion on those consolidated financial statements in our report dated June 10, 2015. The summary consolidated financial statements do not contain all the disclosures required by Canadian accounting standards for not-for-profit organizations applied in the preparation of the audited consolidated financial statements of the Society. Reading the summary consolidated financial statements, therefore, is not a substitute for reading the audited consolidated financial statements of the Society. MANAGEMENT’S RESPONSIBILITY FOR THE SUMMARY CONSOLIDATED FINANCIAL STATEMENTS Management is responsible for the preparation of a summary of the audited consolidated financial statements in accordance with the established criteria disclosed in Note 1 to the summary consolidated financial statements. AUDITOR’S RESPONSIBILITY Our responsibility is to express an opinion on the summary consolidated financial statements based on our procedures, which were conducted in accordance with Canadian Auditing Standard (CAS) 810, “Engagements to Report on Summary Financial Statements.” OPINION In our opinion, the summary consolidated financial statements derived from the audited consolidated financial statements of the Society for the year ended March 31, 2015 are a fair summary of those consolidated financial statements in accordance with the established criteria disclosed in Note 1 to the summary consolidated financial statements. Chartered Professional Accountants, Chartered Accountants Licensed Public Accountants June 10, 2015 25
Page 1 and 2: In unity there is strength 2014-201
Page 3 and 4: TABLE OF CONTENTS 04 Message from t
Page 5 and 6: Here at home, your support enabled
Page 7 and 8: The past year held many achievement
Page 9 and 10: When major emergencies and disaster
Page 11 and 12: Last year the Red Cross again demon
Page 13 and 14: The Canadian Red Cross is committed
Page 15 and 16: Knowledge gives people the best opp
Page 17 and 18: DETENTION MONITORING Promotes basic
Page 19 and 20: → Conrad Sauvé Secretary General
Page 21 and 22: Leadership of the Canadian Red Cros
Page 23: During the year, management adjuste
Page 27 and 28: Summary Consolidated Statement of O
Page 29 and 30: Notes to the Summary Consolidated F
Page 31 and 32: FOUNDED 1896 INCORPORATED 1909 The

In unity there is strength

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