OLDS — The Olds & District Chamber of Commerce has chosen its 2022 board of directors as its president is predicting another tight year as the organization – hopefully – emerges from the COVID-19 pandemic.
Tasha Bieber (Home Hardware), Mary Jane Harper (Royal LePage), Heather Weir (Oasis Hut Medi Spa) and Mike Tomey (Canadian Tire) were all acclaimed to seats on the board during the chamber’s annual general meeting, held March 9 at the Royal Canadian Legion Branch #105 in Olds.
They join existing chamber directors Murray Elliott (Mountain View Publishing), Cassidy Rochemont (Scotiabank), Karly Boom (MNP), Doug Rieberger (Ultimate Safety) as well as past-president Claire Janitz (Olds College, Cacio e´Pepe) and Town of Olds appointee Coun. Dan Daley.
"Congratulations to everyone who’s (acclaimed),” Rochemont, the 2021 president, said. “Looking forward to another year with all of you.”
Rieberger, who chaired the nominating committee, pointed out that as always, the board will choose its executive during its organizational meeting which this year was to be held March 15.
Rieberger thanked Harper, Rochemont and Elliott for all their help on the nominating committee.
Elliott paid tribute to two retiring board members: Charlotte Hogarth and former chamber president Mark Johnson.
Financial position
2021 chamber president Cassidy Rochemont explained the organization’s financial position during the AGM that attracted about 40 attendees.
A profit and loss statement tabled by Rochemont stated that as of Dec. 31, 2021, gross profit was pegged at $78,151,40. Operating expenses totalled $33,450.49, resulting in a net profit of $44,700.91.
According to the balance sheet, as of Dec. 31, 2021, the chamber had assets totalling $74,719.04 and liabilities totalling $5,334.04, resulting in net assets of $69,385.
Rochemont said the organization had some bad debts – membership dues for businesses that chose not to remain as members. However, there’s hope some may decide to once again become members this year.
The chamber also moved to a different accounting software provider and bought a membership in SurveyMonkey.
This year, the chamber predicts total revenue will hit $88,760, compared to $37,804 during the height of the COVID-19 pandemic last year.
Total expenses in 2022 are expected to be $85,850, up from $31,167 last year.
That should result in a net profit of $2,910, down from an actual profit of $6,637 in 2021.
This year, the Chamber expects to make about $23,750 from highway signs, about $41,000, in membership fees, nearly $6,000 from the chamber insurance group plan and about $18,000 from events and sponsorships.
Expenses will include about $36,000 to run events.
“Because we want to run some events this year, one of our biggest expenses will be events,” Rochemont said.
As the chamber emerges from COVID, it’s looking at hiring someone on a contract basis to help with administrative work. A total of $20,000 is set aside for that.
Another $8,000 is earmarked for legal expenses.
“We are working through a situation with some previous staff that will cost a little bit this year. Everything is going OK so far,” Rochemont said.
Dale Mackie of Scotiabank and Bill Hall, a retired Westview Co-op employee, were reappointed as auditors for 2022.
