EGBC_AnnualReport_2023-2024

The Association of Professional Engineers and Geoscientists of the Province of British Columbia Notes to Non-consolidated Financial Statements June 30, 2024

9 Deferred fees

2024 $

2023 $

Professional Engineers and Geoscientists registrant fees Engineer and Geoscientist-in-training registration fees

7,526,432 1,461,874 93,132

6,481,314 1,305,785 73,574

Professional licensee

Advantage program for student registration fees

7,925

7,200

Firms registrant fees

3,028,734

2,860,689

12,118,097

10,728,562

10 Commitments

The Organization has operating lease commitments for office equipment for the next two years requiring the following minimum payments: $ 2025 23,262 2026

14,108 37,370

11 Defined contribution plan

The Organization has established a defined contribution plan for its employees, under which employees contribute 5% of their qualifying gross earnings and the Organization contributes 5% of qualifying employees’ gross earnings. Defined contribution plan expense for the year was $1,014,302 (2023 – $870,235).

12 Controlled funds

The Organization controls the operations and provides accounting and administration services to the Foundation and registrant-supported branches and divisions. The results and net assets of these operations are not consolidated in the non-consolidated financial statements of the Organization.

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