Financial Summary and Statements
Kinark’s strong fiscal position enabled the organization to meet its strategic objectives to sustain accountable and efficient management of systems and processes that are centred on value and continuous quality improvements across the organization. During the past fiscal year ending March 31, 2021, Kinark received an unqualified audit report from our auditors (Hilborn LLP) and this fiscal year’s funding included special grants from the Ministry of Children, Community and Social Services and the Ministry of Health for COVID-19 costs including temporary pandemic pay and COVID-19 expenses (person protective equipment, supplies, etc.).
Financial Summary for the Year Ended March 31, 2021
| 2020 | 2021 | |
| OPERATING REVENUES | ||
| Government funding | $102,269,167 | $95,790,347 |
| Other revenues | 4,112,872 | 4,066,282 |
| Total Revenues | $106,382,039 | $99,856,629 |
| OPERATING EXPENSES | ||
| Salaries and benefits | $44,107,808 | $46,285,095 |
| Other expenses | 57,835,959 | 49,990,213 |
| Total Expenses | $101,943,767 | $96,275,308 |
| EXCESS (DEFICIENCY) OF REVENUES OVER EXPENSES FOR THE YEAR | $4,438,272 | $3,581,321 |
This financial summary has been extracted from Kinark’s 2020/21 audited financial statements, copies of which are available here.