Fincial and Information Services

This being the Horizon Achievement Centre 20th anniversary, it is time to reflect upon the our financial growth. This year, the gross revenue from the services offered by our departments has grown to more than $300,000. This is a remarkable accomplishment when you think that twenty years ago the gross revenue was less than $90,000. The assets held by the centre also grown significantly over the past 20 years. The centres financial position reflected in the year end statements for March 2004 shows assets of $418,500.
      This year was not one that ended strong financially. The Production departments ended the year $15,000 down from last year mainly due mainly to the loss of the Atlantic Lottery contract. Cost control efforts have been very successful for those expenses that we were able to control. However our share of the building renovations, the cost of repairing aging equipment, and the ever increasing heating costs depleted any gains made.
      To address the continued financial pressure endured by the centre, management and board have met with Community services to give them an overview full overview of expenses over the past twenty years and the needed funding requirements for this organization. Further meetings are planned to further explore this area.
      As a testament to its professionalism and its growth, the centre continues to build upon and improve its information services. This past year a new financial accounting program was purchased and implemented. This has allowed for more timely and accurate reporting to the board and our funders. It also has allowed us to improve our internal processes such as payroll, inventory and individualized departmental reporting. The centre data base which controls client information and services continues to be a very effective tool for accountability and planning. While used on a daily basis we are continuously building and improving on this system.
      Government legislation regarding Privacy of information will play a major role in this organization from client and staff information to customer data lists. Currently we are in the process of developing an internal policy and process to ensure we meet this obligation under law.
      I would like to stress that even though our funding has been frozen since 1994 HAC has never waived from its mandate to provide quality service. Through strong fiscal management, special projects, grants and partnerships with the private sector and a strong commitment to succeed by Board and staff, we have not only maintained our operation but continue to grow fiscally and to improve upon our programs and services.

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