Management Review of Financials

2013/14 Financials

NCC made the decision to change its year-end from June 30 to May 31 to improve operational efficiencies. This meant that for this year only, we worked on an 11-month cycle to facilitate the change. Thus to properly compare with prior years’ results, annualised figures are used when necessary.

Our total revenue of $87.7 million was about the same as last year on an annualised basis, in line with budget. Because NCC’s work is focused on the long term, it is important that we have a sound financial base on which to operate. Expenses grew in line with revenue, and we had a surplus of $3.2 million before transfers to reserves and endowments.

5 Year Average Revenues

We can see major swings in our revenue and expenses from year to year caused by the timing of land acquisitions, so it’s important that we have a solid base of reserves. In addition, because of the variation in revenue and expenses in some years, some of our performance metrics are calculated on a five-year rolling average.  

We maintain a close watch over our expenses, though we have also been broadening our measures of success to include more tangible measures of long-term impact, and not simply concentrating on shorter-term overhead cost ratios. In the period ending May 31, 2014, a total of 83 percent of our expenditure went directly to program costs (on a five-year rolling average basis), slightly down from 84 percent last year.

5 Year Average Expenditures

We are proud of our ability to keep our overhead costs low, but do not wish to do so at the expense of an effective and impactful conservation program.