As part of ASBA’s Strategic Priority 4, to operate in a fiscally sound manner, ASBA ensured financial accountability to members by finding cost-saving opportunities, diversifying revenue sources and identifying efficiencies within our internal processes that further enhance our fiscally sound practices.
Building connections through internships
Total surplus generated
- ASBA made new partners in 2021-2022 that led to additional sponsorship revenue.
- Approximately 26% increase in sponsorship revenue.
- Interest revenue is earned on the Association’s cash held in our high-interest savings account, bonds and GIC’s.
- Approximately 71% increase in interest revenue as a result of positive changes in the markets.
Operational Expenses Highlights:
Office Rent Expenditures
- Reduction in parking stall costs for office lease.
- Approximate reduction of office rent costs of 4%.
Office Supplies Expenditures
- Approximate reduction of expenditures for office supplies of 40% due to work-from-home arrangements.
- Approximate reduction of office landlines usage by 9% due to work-from-home arrangements and alternative technologies such as Microsoft Teams.
Contracted Services Expenditures
- In-house expertise leading to a reduced need for contracting external services.
- Approximate reduction of expenditures for contracted services of 11%.