WQLC 2017 budget dwarfed by unexpected grant

2017-10-24 Liz Draper 194 Views

The Western Quebec Literacy Council held their annual general meeting on Saturday at Café 349, discussing last year’s receipts and unveiling their new logo. Pictured, their new executive director, Michèle Gagnon, shows off the logo to the group.

Donald
Teuma-Castelletti
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.

FREE ACCESS FOR EQUITY SUBSCRIBERS

This article is available free to all subscribers to The Equity. If you are a subscriber, please enter your email address and password below.

SET UP YOUR ONLINE ACCOUNT

If you are a subscriber but have not yet set up your online account, please contact Liz Draper at liz@theequity.ca to do so.

HOW TO BECOME A SUBSCRIBER

To become a subscriber to The Equity, please use our Subscribe page or contact liz@theequity.ca