We are pleased to report ISSofBC’s financial performance for the fiscal year ending March 31, 2023.
Our dedicated team, volunteers, and partners met increased service demand in the post-pandemic period and in response to international events in Ukraine and Afghanistan.
We acknowledge the skill and dedication of many to manage the financial and business aspects of our organization. Our financial management played a pivotal role in achieving our strategic goals, ensuring we continue to extend and deepen our mission impact.
Greater than expected Government Assisted Refugee (GARs) arrivals through our Resettlement Assistance Program (RAP) led to substantial gross revenue growth. We continue to manage the variability of these annual numbers.
We closed the year with a surplus of around three per cent over expenses, a positive shift from the pandemic’s break-even years. These funds help to fortify our reserves for the years ahead. We also supported our staff to address the significant cost of living pressures they have experienced.
Transitioning from KPMG to MNP as auditors for this year offers fresh perspectives and continued oversight. We thank KPMG for their many years of support.