Hamilton’s Conservation Authority recorded a surplus of $5,443,226 in 2023.
The Authority’s annual financial statement says it exceeded forecasted membership and program fee revenue by nearly $500,000, collecting $7,732,481 in 2023, up from $7,171,618, and well exceeding the budget forecast of $7,252,886.
The HCA also reported $1,447,185 in provincial and federal grants for the year. It had expected $250,996 in grants.
The statements say the HCA gained $1,341,905 from the “sale of tangible capital assets” in 2023. The HCA sold a 0.95-hectare property formerly used for outdoor education at the Mount Albion Conservation Area.
The Hamilton Conservation Foundation gave the HCA $854,864 in 2023, more than the $190,800 forecasted.
The HCA also benefitted from higher-than-expected interest revenue of $774,296. They had expected to receive $235,000.
Lower Wages & Benefits, Higher Staff Expenses & Consultant Spending
The HCA paid $8,311,900 in wages and benefits in 2023, nearly $1.5-million less than the budgeted $9,945,917.
“Staff expenses” were $1,400,000, the budget for this line was $200,500.
The HCA spent $879,230 on consultants and contractors in 2023, it had budgeted $366,254.
Production Details v. 1.0.0 Published: August 16, 2024 Last updated: August 16, 2024 Author: Joey Coleman Update Record v. 1.0.0 original version