FINANCIALS

ALL cadet support committees (CSC) must forward a copy of their annual statement (consists of Income & Expense statement and Asset & Liability statement) to the Provincial Treasurer by October 31. This statement will also be the one presented at the CSC annual meeting. The provincial treasurer will coordinate forwarding statements to the National office.

Please refer to the following excerpt from the Letter from the National President:

Effective this year, all Support Committees must send in their financial reports to their respective Branches. If you have not done so, all Support Committees must adjust their categories of revenues and expenses to match a national standard, as detailed in our Support Committee Financial Reporting Handbook. This past spring, this financial information proved crucial to advocating for additional emergency Local Support Allocation. We were able to identify our most financially dire Support Committees and provide fact-based evidence to support our request. We need your assistance to properly support you in the coming months and years.

A very good explanation of the financial reporting system is available at:

ACLC National Toolbox

Note that the annual statement is also the one that is sent to the Society’s Branch with the annual return.

Inherent in this financial reporting is a review of all CSC owned equipment (anything that is not on the DA account is included). This completed listing should be just an update from the most recent listing. This list must also be forwarded to the provincial treasurer for insurance purposes. A copy of the unit DA account is also required. This can be obtained from the CO and/or the supply officer.

Collecting the YE2019 statements was slow and painful (some units still have not complied). As a result, the Provincial Treasurer withheld LSA funding from the delinquent units and will continue to do so.

In conclusion, the following must be submitted to the Provincial Treasurer by

October 31:

Copy of the year end (2020) financial statement (includes income and expense together with the asset and liability statement) with all categories of income and expense matching the national standard. Use of the national template is entirely the CSC choice but the categories on any statement submitted must follow the national standard.
Copy of the Unit asset list including all equipment owned by the CSC
Copy of the latest DA account (lists all DND equipment held by the unit).
Effective immediately if the categories on statements submitted do not conform to the National Standard they will be returned for correction.

If you have any questions please contact your zone chair or the Provincial Treasurer.