INUVIK
The Inuvik Homeless Shelter is in good financial and administrative shape.

Susan Peffer remains the chairperson of the Inuvik Homeless Shelter board following a meeting March 5 that saw the organization being given a clean bill of financial health. - Shawn Giilck/NNSL photo

That was the message delivered March 5 at the organization's annual general meeting dealing with the 2014 fiscal year.

The meeting, held at the Inuvik Interagency Committee building, was attended by about 10 people, almost all of them members of the organization.

Financial auditor Steve Roher presented his report to board chairperson Susan Peffer and her board members, giving what he called a "qualified" thumb's up to the organization's finances.

He explained the basis for his "qualified opinion" in his report, stating "the Inuvik Homeless Shelter derives a material amount of revenue from donations, fundraising and gaming activities. I was not able to obtain sufficient appropriate audit evidence about the completeness of the reported amounts to accounts receivable donations, fundraising, and gaming revenue, revenue in excess of expenditure and changes to net assets because there is no direct relationship between assets or services given up in exchange for amounts received or receivable. Consequently, I was unable to determine whether any adjustments to these amounts were necessary."

Several members of the board, including outgoing secretary Laura Worsley-Brown and Peffer, mentioned how the financial records for the organization had been in some disarray over the last few years of operation, but steps were being taken to address the situation.

Roher said otherwise, the homeless shelter was in good shape, particularly for a non-profit group.

The organization had revenues of $255,295 in 2014, a drop from $297,944 in 2013.

Most of that difference is attributable to a one-time grant of $50,000 to the homeless shelter from the NWT Housing Authority, Roher and Worsley-Brown said.

The shelter's expenses increased to $275,071 from 261,410 in 2013. Utilities increased by approximately $10,000, as did salaries and wages.

That left the shelter with a surplus of $19,776 in 2014, as compared to $36,634 the year before.

The shelter holds net assets of $102,826 as of the end of 2014.

That's a drop from $122,602 in 2013. It held cash reserves of $56,688 at the end of 2014, down from $91,482.

Roher indicated he wasn't too concerned about that drop, stating "that's a lot of cash for a charitable group."

Board member Lucy Kuptana asked several questions about the finances, although she said she was very pleased to have the organization in such good shape.

The board is still looking into a bad debt of $17,564 from 2013, but treasurer Kathleen Fair was not present at the meeting to discuss the issue.

A campaign to recruit more board members launched earlier this year appears to have paid off as well.

After discussion by the board toward the end of 2014, Worsley-Brown was directed to launch a social media and e-mail effort to publicize the need for more directors, following the resignation of at least three board members in 2014.

That campaign has resulted in three new members for the board, with Susan Ross joining in the last month.

Shirley Kisoun and Rachel Kasook agreed to join the board at the March 5 AGM, bringing the board complement to 10 members.

Worsley-Brown, one of the linchpins of the board for the last three years, tendered her resignation at the meeting. She is leaving Inuvik to take another job opportunity.