No Registrant Fee Increase in FY2026 Budget
The Board weighed several issues in supporting the FY2026 budget at its May 28, meeting. Following several years of significant change after moving to the Professional Governance Act, the organization is entering a more stable period, with expenses and revenues becoming more predictable. The Board had also set a target of ensuring the General Operating Fund was built up enough to cover six months of operating expenses. That goal will be met at the end of this fiscal year, June 30.
As such, the Board approved a deficit budget for FY2026. Engineers and Geoscientists BC will run an approximately $900,000 deficit in FY2026, absorbing the deficit by leveraging recent surpluses. This approach is in line with the organization’s budget guidelines, which direct the Board to consider past surpluses when setting annual fee increases.
An alternative option proposing an inflation-adjusted fee increase and a deficit of $675,000 was also considered, but the Finance, Audit & Risk Sub-Committee and staff recommended the Board adopt the budget with no fee increase.
Use of past surpluses to support the organization’s operations is considered a prudent financial approach to fund one-time initiatives while still balancing the organization's long-term financial stability.
Photo: Wendy D Photography