2017-2018 Budget Closure

June 7, 2018

That’s a wrap folks.

The 2017-2018 fiscal year came to a close at the end of April, and after a bit of cleaning up – the tentative final numbers are in. (I say tentative because they still have to be reviewed by the MES’ bookkeepers and go through an official review engagement with KPMG).

With that, at the end of the 2017-2018 year the MES ran a $46,540 deficit.

That being said, the deficit includes approximately $75,000 of surplus spending (part of the $200,000 initiative established in the spring of 2016), so if that amount was factored out, the MES would have ran a small surplus. The surplus spending in the 2017-2018 year includes $60,000 invested into the Hatch Machine Shop, $5,000 spent on storage space and approximately $10,000 invested into the Thode Maker Space.

Once the budget has been reviewed externally, the review engagement and the final budget will be posted.

If you have any questions about the 2017-2018 budget feel free to contact vp.finance@macengsociety.ca.