2023/2024 Budget Approved with Fee Increase
Engineers and Geoscientists BC’s Board approved the organization’s 2023/2024 budget at its April meeting. The balanced budget accounts for implementing requirements of the Professional Governance Act and inflation. It also includes resources to address significant increases in applications, high demand for online exams, and increased complaints and enforcement action.
The budget includes a fee increase to take effect in January 2024. Fees will increase by $50 for practising registrants, $13 for non-practising registrants, and $10 for trainees. For the past three years, fees have remained mostly flat and have been limited to inflationary increases of $10 or less.
“Licensing fees represent the cost of regulation, and we recognize this increase is significant,” said Heidi Yang, P.Eng., Engineers and Geoscientists BC’s CEO. “It is also necessary for Engineers and Geoscientists BC to meet its legislated requirements and be responsive to the demands placed on it as a regulator. It is important that we maintain our ability to regulate engineering and geoscience and that we have the financial resources to fulfil our mandate.”
Like many organizations, Engineers and Geoscientists BC has experienced the impacts of inflation, which accounts for just under half of the fee increase. In addition, the increase will support needed improvements to systems and processes that support the organization’s strategic plan and secure and protect the organization’s critical data to remain in compliance with the evolving requirements of BC privacy legislation. It will also support new initiatives for the organization’s more than 1,800 volunteers and allow for continued growth towards the organization’s contingency fund target of 6 months’ operating funds.
Fees for firms will not be adjusted at this time, as the licensing model in place is just concluding its second year of operation and the first year of audits. As the firm regulation program stabilizes and the costs of regulation are better understood, fees for firms will be reviewed as part of the organization’s annual budget.
Engineers and Geoscientists BC is a non-profit organization, accountable to government and the public. The annual budget is approved by Engineers and Geoscientists BC’s Board, and its financial statements are audited by an independent third-party auditor. Financial statements are published in the Engineers and Geoscientists BC’s Annual Report.
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