CDA on solid financial footing
Higher-than-expected revenues and solid cost containment turned a projected deficit into a break-even year for the Canadian Dam Association in 2017-2018. As reported at the 2018 Annual General Meeting in Quebec City, CDA generated a financial deficit of $668 in fiscal year 2017-2018. The 2017 Conference in Kelowna generated a higher-than budgeted surplus due to excellent registration and corporate support. Other professional development and training activities exceeded their targets.
On the expense side, CDA’s international activities, including the upfront costs for hosting the 2019 International Commission on Large Dams annual meeting and Symposium in June 2019, cost less than expected; and there was cost containment by the non-technical committees.
The 2018-2019 Budget was approved by the members at the 2018 Annual General Meeting.
CDA is budgeting a deficit of 9.5 percent on operations, including funding for the completion of the technical bulletin on emergency management and guidance for owners of small dams; and increased support for committees and working groups.
Special projects, including hosting ICOLD 2019, may drive the deficit up to 28 percent; however, the Board has set aside a reserve to cover the potential deficit from ICOLD 2019 should one occur.
CDA’s overall financial position remains very healthy and allows the Association to make strategic investments in activities that benefit Canadian dam safety and management practitioners.