SHAWVILLE Oct. 21, 2017
A surplus in the Western Quebec Literacy Council’s (WQLC) revenue for 2017 marks a significant portion above the projected budget – but it comes with a price.
The WQLC listed a 48.83 per cent surplus at their annual general meeting Saturday morning, while also unveiling their new logo and introducing the latest executive director.
With their 2017 expected income listed at $88,453, their year-end revenues (ending June 30, 2017) far exceeded this at $131,641. Peter Smith, the group’s accountant, warned them that though this looks good on paper, for a non-profit organization it could be bad.
He further explained that an excess amount of cash for a NPO could be worrisome for the following year, as grant agencies may decide that they do not need more money. He also said that having a deficit is not necessarily a terrible thing.
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