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2019 - 2021 BUSINESS PLAN

INSPIRING SAFETY INNOVATION

FINANCIAL OUTLOOK

FORWARD LOOKING STATEMENT

Technical Safety BC’s proposed 2019 Operating Budget projects a deficit of $373K. 2019 budgeted revenues are based on actual financial performance in recent years (up until Q3 2018) and projected market conditions for 2019. They include previously announced fee increases, and increases to the volumes of operating and installation permits of 3% to 3.5% respectively over Q3 2018 forecast. On the operating and capital expense side, we have taken into account the upcoming collective agreement and labour costs and strategic expenditures that are aligned to achievement of the 2019 - 2021 Business Plan.

Revenues and expenses for 2020 to 2021 assume a moderate increase over the 2019 budget and a breakeven budget for each year.

All forward-looking statements within this report should be understood to involve risks and uncertainties that could cause actual financial or operating results to differ significantly.

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PROFIT AND LOSS PROJECTION (2018 TO 2021) ($000’s) Budget 2019 Forecast 2020 Forecast 2021
Revenue
Service and related fees 65,122 67,727 70,435
New business initiatives 2,162 2,545 1,888
Investment and other income 1,275 1,326 1,380
Total Revenue 68,559 71,598 73,703
 
Expenses
Salaries & Benefits 47,551 49,218 51,188
Amortization 4,650 5,062 4,505
Building Occupancy 2,948 3,051 3,173
Audit, Legal and Insurance 709 734 764
Contract Services 2,549 2,639 2,744
Travel 1,679 1,738 1,808
Office & Business 2,479 2,566 2,668
Telecommunications 654 677 704
Information Systems 2,208 2,286 2,377
Training 1,260 1,305 1,357
Vehicles 555 573 596
Corporate Governance 518 536 557
Postage & Courier 189 196 204
Education & Public Awareness 615 637 662
Material & Supplies 188 194 202
Bad Debt 180 186 194
Total Expenses 68,932 71,598 73,703
Excess/(Deficiency) of revenue over expenses ($373) ($0) ($0)

RPT-5156-00

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