FSA Mid-Year Financial Report (2019-20)
Terry Gordon, FSA Treasurer
The FSA’s financial results for the first six months of our fiscal year were very close to the budgeted targets for that period. Revenue was slightly below budget ($804 thousand versus $826 thousand). However, expenses were also below budget ($787 thousand versus $826 thousand), giving us a small ($17 thousand) surplus for the period. As we prepare for bargaining over the next few months, I anticipate that our expenses will increase, which may result in the FSA finishing the fiscal year with a small deficit.
Our strike fund balance is currently $2.06 million. The fund is invested in various GICs, most of which will mature over the next six months providing us with ample liquidity to cover any costs associated with job action, should the need arise.
Please email me at if you have any questions pertaining to the FSA’s finances.
This mid-year report is usually presented at the FSA General Meeting but had to be posted due to a packed agenda for the meeting on January 23, 2019.
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