2025-26 Audited Financial Statements

Posted On: July 29, 2026

At its July 29 meeting, Council approved the College’s audited financial statements for the year ending March 31, 2026.

The financial statements were audited by an independent external auditor, who confirmed that they present a reliable picture of the College’s finances. The auditor found no issues that raised significant doubt about the College’s ongoing operations.

The statements report a deficit of $350,425, which was lower than budgeted. Council anticipated this deficit and initiated a Financial Sustainability Review to ensure the College remains well positioned to respond to changing practice environments, increasing operational demands and emerging risks.

This review resulted in changes to the College’s fee structure that will strengthen reserve funds and help ensure the organization has the resources needed to continue to fulfill our mandate effectively and responsibly in the years ahead.

Review the audited financial statements

Additional information

What does it mean that the College recorded a deficit?

A deficit means the College’s expenses were greater than its revenue during the 2025-26 reporting year. The College recorded a deficit of $350,425, which was lower than budgeted.

What changes resulted from the Financial Sustainability Review?

The review resulted in changes to the College’s fee structure including a $250 increase to the registration renewal fee that goes directly to the College’s reserves.

What are the College’s reserves used for?

The College’s reserves help support financial stability and ensure it can respond to unexpected costs while continuing to fulfil its regulatory responsibilities. This includes reserves that ensure the College can respond to significant complaints and discipline matters, on-going operations in the event that revenues lower unexpectedly and that we have sufficient funds to support therapy and counselling for individuals who have been sexually abused by a registrant.

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