Operations result

The net result from transactions, our day-to-day business, was a surplus of $11.0 million. The surplus from transactions indicates that the strategies we implemented have enabled us to operate within the resources we have available to us. We planned to operate with a surplus and this was achieved although the surplus was greater than anticipated due predominately to additional revenue.

Financial position

Our comprehensive result was a surplus of $11.0 million. The comprehensive surplus takes into account year-end adjustments of less than $0.1 million.

The year-end cash balance was $44.2 million, which is above the targeted $20.0 million minimum cash balance to ensure we meet fluctuations in annual payments.

Future planning

We continue to implement strategies to ensure that we operate within the resources we have available. However, we anticipate that increased demand and greater costs that, if not matched by increased income, will make our financial sustainability difficult and challenge our ability to remain effective and efficient in meeting our clients’ needs.

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