SASKATCHEWAN HOCKEY ASSOCIAITON 2014/15 EXECUTIVE SUMMARY The following is a summary of the 2014/15 Audited Financial Statement. Statement of Financial Position page 1 Assets The Statement of Cash Flows on page 4 details the cash flow from the past fiscal year and shows an increase of $320,971 from last season. This increase is the result of a surplus in the operations of the Association during the year of $225,167 less non-cash operations represented by amortization of $49,733. In addition the SHA had two GIC s come due (see Note 3, page 7) and these were not reinvested. The SHA also increased the purchase of property, plant and equipment with the 50% share in an Outdoor LED sign partnering with Canadian Digital Sign. This partnership serves both as a positive investment for the SHA plus an opportunity to access the CDS Provincial LED sign network to promote SHA events and programs. The amount within Accounts Receivable reflects what was owed to the Association on April 30 th however the majority of this has been collected in the past five weeks. It also includes the SHA s share of the recently held World Junior Championship in Toronto/Montreal which is approximately $76,000. The Investments, Note 3, page 7 represents the amount of money the SHA has invested within a CIBC Canadian Bond Index and the SHA Legacy Fund. A further detailed report of the Internally Restricted Net Assets is provided on Page 8 in Schedule 5. Please note that Scholarships expensed within the SDM and SHA Scholarship Funds are those awarded, not paid out, therefore the difference in the amounts listed in Notes 3 and 5. Property, Plant and Equipment, Note 4, page 7, details the assets of the SHA which is essentially the accumulated depreciation on the SHA owned office, office equipment, truck, etc. The Building amount represents the purchase price of the SHA Building in the amount of $252,000 (plus the land allocation of $50,000) and it also includes the leasehold improvements over the past sixteen years such a paving the parking lot; a new roof; new heating/air conditioning units; new offices; etc. It also includes the new Digital Sign described above.
Liabilities and Net Assets Accounts Payable, like the Accounts Receivable, are stated here as of April 30 th. This number is much lower as of the current date. It is listed higher than last year strictly due to expenses surrounding the Sask First Tournaments held in April. The Internally Restricted Net Assets, Note 5, page 9, are the SHA s Scholarship, SDM Scholarship, Referee Scholarship, Building and Referee Funds which have restrictions placed upon them as to how their funds may be dispersed. The SHA Legacy Fund is also now shown in this area. The Unrestricted Net Assets is the Associations cash and investments upon which there are no restrictions. Statement of Operations Page 2 The Association experienced a deficit in operations in the amount of $224,142. This statement, along with Schedules, 1 to 4 (pages 11 14) includes the Associations Budget figures for the 2013/14 fiscal year to provide an analysis. The following discussion will focus on the comparison of the 2013/14 Audited Figures to the 2013/14 Budget. SASKATCHEWAN HOCKEY ASSOCIAITON Variance Analysis Summary Budget to Audited Statement Operations Budget 2014/15 20,325 Audited Statement 2014/15 217,019 Variance 196,694 Variances from Budget to Audited Statement Revenue Sask Lotteries Trust Fund 33,400 Sask Lotteries Trust Fund (Categorical Grants) 24,000 National Sports Division Body 103,560 Self Help (17,735) Other (11,918) Expenses Sask Lotteries Trust Fund (Categorical Grants) (24,578) Administration (19,399) Amortization ( 333) Capacity/Interaction 6,279 Participation 187,913
Excellence (121,121) HC Insurance 11,249 Sask Hockey Hall of Fame ( 3,170) Other 28,547
Discussion of Variance Detail Revenue Sask Lotteries Trust Fund Under Categorical Grants (Schedule 1, Page 11) the SHA again received an Aboriginal Sport Enhancement Grant through Sask Sport which was used by the FSIN to fund two teams, male and female, to attend the National Aboriginal Hockey Championships where each team won the Gold Medal. There was one International Hosting Grant that flowed through the SHA to the host group in Kindersley for the World Junior A Hockey Championship. Sask Sport, in Canada Games years, has an Aboriginal Apprentice Coach Program, and the SHA took advantage of the grant to train a coach through the HP 1 program and have them be part of the staff for the Canada Games Men s team. National Sports Governing Body The SHA receives money annually from a Trust Fund that Hockey Canada set up many years ago from money received during the self-insured days of the CAHA. The SHA receives their allocated proportion of the interest earned on the Fund. In previous years this fund generated approximately $17 - $20,000 for the SHA however the Fund did extremely well on investment income of which the SHA receives 10% of the amount earned and it amounted to $66,000 this season. The SHA now receives interest earned on an account created by Hockey Canada entitled a Branch Support Pillar. The SHA received in the neighborhood of $51,000 from this account this past season. With the World Junior Championship being held jointly in Toronto and Montreal next season the SHA received a portion of the overall profits from that event. The money has not yet been received however we have been notified that the SHA share will be close to $76,000. Self-Help (schedule 2 page 12) There was a slight decrease in the amount of Senior players registered this season and the SHA worked with the FSIN on a blanket sanctioning fee for the FSIN Senior Championships. There was a decrease in Junior Revenue received however there was a corresponding decrease in expanses from an insurance perspective due to the SJHL moving away from the two fight rule. There was an increased fee the League was charged by Hockey Canada
to be granted the privilege to have two fights and since they move to one, they pay the $40 participant fee just as the rest of hockey. There was a slight decrease in the amount of Female players playing strictly on female teams. We saw a slight increase in Minor registration numbers which translated into more registration in each category. Our Registration numbers for Officials increased and the amount of fees secured also included late payment fees as well. Other In Comparison to Budget Projections shortfalls in the following areas; Advertising/Sponsorships ($99,000) Sask First Zone Camp Registrations (28,000) Goaltending Player Camps ($12,000); Female/Sask First Festivals/Skills Camps ($173,645); We exceeded budget Projections in the following areas; Clothing Sales ($8,000) Hotel Rebates ($1,500) Sask First Tournament Fees ($250,650) WHL Release Fees ($2,500) HP I Coaching Clinic ($4,200) Specialty Clinics ($13,000) Officiating Development Programs ($11,900) Interest ($16,300) Sundry ($30,000) Overall the net shortfall in these areas was approximately $18,000 Expenses Administration The Administration Schedule 3 is on page 13. Overall the budget in this area was exceeded by $19,400. Specifically the areas exceeding budget were;
Bank and Credit Card Charges ($8,000) due to introduction of PayPal Computer Programming and Hosting ($18,348) due to moving to a cloud based server Insurance (($1,500) Occupancy Costs which includes Utilities and Property taxes ($6,800) Salaries and benefits ($10,000) Savings were experienced in the following areas; Legal ($3,500) Divisional Expenses which includes expenses associated with League/Association meetings; Provincial Playoff Presentations; Regional/National Events ($5,900) Postage and Express ($9,200) Capacity/Interaction Due to changes in Sask Sport Funding requirements this area has been expanded from the past to include all meeting expenses, marketing, fundraising initiatives, website, handbook printing, Cameco Hockey Day in Saskatchewan and clothing expenses. Overall in this area we experienced savings of $6,300 Participation (see Schedule 4, page 14) Expenses Coaching Development and Coaching Mentorship Program : We are very close to our budget in this area with no irregularities to report Hockey Safety Trainer : The expense represents the cost for people to complete the Hockey Canada on-line training portion which is free to SHA Members Initiation Program : We experienced some savings in the amount of jerseys distributed this year Officials Development : Savings of approximately $20,000 experienced with developing our own SHA on-line training module for Senior Officials resulted in them not having to complete the Hockey Canada On-line modules and our process had no expense to it thus a savings. Female Jamborees/Sask First Futures/Skills Camps : Planned initiatives for the season were altered mid-season when it was apparent that response wasn t what expected and resulted in savings of $103,000. Of course this corresponded with less revenue as well.
Sask First Futures : Only one camp held this year for the 13 year old males in April Excellence (See Schedule 4, Page 14) Coaching : Always budget for the worst case scenario in terms of where coaches are from within all the Sask First Programs but saw savings of $22,000. Expenses in this area also include two Canada Games teams and a U16 Female team. Competition : These expenses are associated with the two Canada Games teams who travelled to Prince George as well as the U16 Female team who took part in a Female Midget AAA Tournament in Swift Current in September. Talent Identification : We saw a budget over run of $174,000 however last fall a decision was made for the SHA office to take over the coordination and payment of expenses for the player s meals, hotels and buses for the three Sask First Tournaments. This expenses was offset with corresponding revenue. Trainers Development : A savings of $20,000 associated with trainers involved in all Sask First Programs Training Athletes : Savings of $6,000 and these expenses are associated with the three Provincial Teams in their preparations for competition. Officiating Development : Savings of $7,000 primarily around Zone Camps and Sask First Midget Tournament Hockey Canada Insurance This figure was lower than expected due to lower expenses for Junior Hockey with the elimination of the two fight rule in the SJHL. Other The Other expense area represents expenses associated with the following items;
Hockey Canada Member Assessment - $113,000; Sundry/Bad Debts - $10,300. We had a change in how we report GST and no longer have to breakout GST separately which reduced this area by a budgeted amount of $18,000 and all GST expense is no able to be shown in regular expense accounts..