Annual Report 2025-2026

The Association of Professional Engineers and Geoscientists of the Province of British Columbia Notes to Non-consolidated Financial Statements June 30, 2026

The “Legal and insurance fund” relates to an appropriation by the Board to set up a legal and insurance reserve to allow for extraordinary cases and situations over and above annual expectations. This allows the Organization to be prepared for future contingencies. The amount appropriated for legal and insurance is reviewed by the Board annually.

The Board approved the creation of an “Advocacy body fund” in fiscal year 2023. As of June 30, 2026, all funds have been transferred to BC Society of Engineering & Geoscience.

Revenue recognition and deferred fees

The Organization follows the deferral method of accounting for contributions. Restricted contributions are deferred and recorded as revenue in the period in which the expense has been incurred. Annual fees and other revenues that are received, but for which services have not yet been performed, are reported as deferred revenue. Registration and other fees are billed and received in advance on a calendar-year basis. Accordingly, a portion of these fees received prior to June 30, 2026, has been deferred for financial reporting purposes and will be recognized as revenue when services are rendered.

All other revenue is recognized when earned if the amount to be received can be reasonably estimated and collectibility is reasonably assured.

Cloud computing arrangements

The Organization has applied the simplification approach, as permitted by Accounting Guideline AcG-20, Customer’s accounting for cloud computing arrangements, in accounting for its cloud computing arrangements. The total amount expensed in respect of the arrangement was $825,521 (2025 – $581,924) and was included in IT and telecommunication expenses in the non-consolidated statement of revenue and expenses.

Property and equipment

Property and equipment are initially recorded at cost in the year of purchase. The cost of property and equipment, made up of significant separable component parts, is allocated to the component parts when practical and significant, and when estimates can be made of the estimated useful lives of the separate components. Amortization is provided using the straight-line method over the estimated useful lives as follows: Building 3.3% Intangible assets (software and development) 33.3% Computer 10% – 33.3% Electronic equipment 20% Furniture, fixtures and office improvements 10%

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