Financial Report

As per our bylaws, the BOMA BC Financial statements are audited annually. For 2024, Loen & Company – the Association’s approved auditors – conducted the audit.

The Auditor reports a surplus of $227,035 revenue over expenses for the year ending December 31, 2024 (surplus of $193,091 in 2023). Total revenue is recorded at $2,470,708 and expenses (including amortization) at $2,243,673. End of year net assets are at $3,207,813 (from $2,980,778 in 2023). This includes the operating account, as well as the General Reserve Fund of $500,000; Advocacy Fund of $75,000; and Special Initiatives Fund of $50,000. Investments consist of marketable securities and short-term investments of Guaranteed Investment Certificates with maturity dates of one year or less from date of acquisition.

BOMA BC continues to meet its obligations under the Societies Act and provides a wide range of member services while maintaining a strong financial position.

Full audited financial statements are available here >