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.
|PROFIT AND LOSS PROJECTION (2018 TO 2021) ($000’s)||Budget 2019||Forecast 2020||Forecast 2021|
|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|
|Salaries & Benefits||47,551||49,218||51,188|
|Audit, Legal and Insurance||709||734||764|
|Office & Business||2,479||2,566||2,668|
|Postage & Courier||189||196||204|
|Education & Public Awareness||615||637||662|
|Material & Supplies||188||194||202|
|Excess/(Deficiency) of revenue over expenses||($373)||($0)||($0)|