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Technology & Humanity

2020 - 2022 BUSINESS PLAN

Modelling the Integration of Technology & Humanity

Financial Outlook

The 2020 budget is breakeven and aims to maintain financial sustainability whilst investing in key priorities that will allow the business to deliver on 10-year strategy.

The expenses budget was prepared using a structured, zero-based approach, whereby the available resources were allocated in alignment with the business planning priorities: Safety Leadership, Products and Processes, and People and Innovation. Revenues are based on market conditions and expected results of planned initiatives.

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.

Financial outlook 2020

               

($000’s) 2019 Forecast as of Q3 Budget 2020 Forecast 2021 Forecast 2020
Total Services and Related Fees 67,191 71,771 74,642 77,627
Other Income        
Monetary Penalty (68) 200 208 216
Gain or Loss on Investments and Asset Disposal 671 500 520 541
Interest income 1,120 1,000 1,040 1,082
Total Revenue $68,915 $73,471 $76,410 $79,466
Expenses        
Salaries & Benefits 48,059 50,269 52,668 54,858
Amortization 4,669 5,004 4,608 4,710
Building Occupancy 3,294 3,335 3,469 3,607
Audit, Legal and Insurance 725 749 779 810
Contract Services 2,124 2,289 2,381 2,476
Travel 1,710 1,824 1,897 1,973
Office & Business 2,131 2,562 2,665 2,772
Telecommunications 661 658 684 711
Information Systems 2,683 3,013 3,134 3,259
Training 898 1,087 1,130 1,175
Vehicles 932 999 1,039 1,080
Corporate Governance 445 510 531 552
Postage & Courier 225 210 219 228
Education & Public Awareness 478 667 694 722
Material & Supplies 182 304 316 329
Bad Debt 81 190 198 206
Total Expenses $69,295 $73,671 $76,409 $79,466
Release from education reserve $380 $200 $0 $0
Excess/(Deficiency) of revenue over expenses $0 $0 $0 $0