Page 14 - DCB 2019 Annual Report

DIVER CERTIFICATION BOARD OF CANADA

2019 Annual Report

2018 A
2018 Annual Report nnual Report
STATEMENT OF FINANCIAL POSITION
2018 Annual Report

DECEMBER 31 2017 2016
Table of Contents able of Contents
T Table of Contents
Table of Contents
DIVER CERTIFICATION BOARD OF CANADA
Who
ASSETS Who We Are 3
Who We Are We Are
3 3
DIVER CERTIFICATION BOARD OF CANADA
NOTES TO FINANCIAL STATEMENTS
Who We Are
International Recognition 3 3
3 3
CURRENT ASSETS STATEMENT OF FINANCIAL POSITION
International Recognition
DECEMBER 31, 2019
Cash Our Vision $ 279,833 $ 320,506 3 3
Our Vision Vision
3 3
Our
Accounts receivable 66,664 2018 3 3 2017
41,949
Our Vision
Our Mission
DECEMBER 31
Our Mission Mission
Our
3 3
HST receivable 12,398 6,963
Our Mission
Prepaid expenses Our Board of Directors 11,320 28,460 3 3
3 3
Our Board of Directors Board of Directors
Our
Inventory 7. OPERATING GRANTS 20,780 7,875 3
Our Board of Directors
ASSETS
What We Do 4
What We Do We Do
What
4 4
405,753
What We Do
Message from the Chairman $ 390,995 $ 2019 5 4 2018
Message from the Chairman essage from the Chairman
M
5 5
CURRENT ASSETS
Message from the Chairman
Canada-Nova Scotia Offshore Petroleum Board
M Cash
279,833
217,067
Message from the CEO essage from the CEO
LIABILITIES Message from the CEO $ $ 10,000 $ 6 6 $ 6 5 10,000
10,000
10,000
Canada-Newfoundland and Labrador Offshore Petroleum Board
Accounts receivable
Message from the CEO
Auditor’s Report 77,756 7 6 66,664
7 7
Auditor’s Report ditor’s Report
Au
Members of the Canadian Association of Petroleum Produces
HST receivable
CURRENT LIABILITIES 11,760 12,398
Exxon Mobil Canada Ltd.
Auditor’s Report
11,320
Fi Prepaid expenses
2,165
Financial Statements
8 8
Accounts payable and accrued liabilities $ 10,058 $ 4,000 10,488 8 7 4,000
Financial Statements nancial Statements
4,000
4,000
Suncor Energy Inc.
Deferred revenue Inventory 25,714 8,841 8 20,780
19,896
Financial Statements
Notes to Financial Statements
N Encana Corporation
11 4,000
11
Notes to Financial Statements otes to Financial Statements
Payroll source deductions 5,409 $ 4,000 4,624 11 390,995
Husky Energy Inc.
4,000
$ 4,000
317,589
Notes to Financial Statements
11
2021 Canadian Underwater Conference and Exhibition 41,181 4,000 35,008 15 4,000
15
15
Hibernia Management and Development Company Ltd.
2020 Canadian Underwater Conference and Exhibition
LIABILITIES 40,000 15
40,000

Cover Photos: Left - CDI Barge Right - DIT Chamber
CURRENT LIABILITIES
COMMITMENTS (Note 6)
Accounts payable and accrued liabilities
Prior year grant collected and (uncollected) $ 6,211 $ 10,059
NET ASSETS Deferred revenue - 25,714
Payroll source deductions
4,488
5,409
Encana Coporation (4,000) (4,000)
Exxon Mobil Canada Ltd (4,000) (4,000)
10,699
41,182
UNRESTRICTED 349,814 370,745
$ 32,000 $ 32,000
COMMITMENTS (Note 6) $ 390,995 $ 405,753
8. COMMITMENTS
NET ASSETS
The Board has entered into a contract for the lease of its premises until 2021 at an annual lease rate
of $16,150.
UNRESTRICTED
Approved by the Directors: 306,890 349,813
9. CAPITAL RISK MANAGEMENT
Director
$ 317,589 $ 390,995
The Board's objective when managing capital is to ensure sufficient liquidity to support its financial
Director
obligations and to conduct operations and execute strategic plans in the best interest and support of
its members and causes.
Approved by the Directors:
The Boards objectives are met by maintaining adequate funds to guard against the possibility that
cash flows from its fees revenues and grants will not be sufficient to meet future cash flow
Director
Director
requirements. In addition, the Board actively monitors its capital structure and to make necessary
adjustments as a result to changes in economic conditions.
Director
Director
The Board's capital structure consists of unrestricted net assets. As at December 31, 2019, the
Board's unrestricted net assets were $301,550 (2018 $306,890).
Photo courtesy of CDA-Technical Institute
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