More than two years after someone started to steal from the P.E.I. Federation of Agriculture, the group's finances have recovered, says a spokesman for the group.
Executive director John Jamieson said considering what the federation went through with the thefts, its finances are in good shape.
"As we've seen we're in a pretty healthy condition," he said.
Jamieson was one of the presenters at the Federation of Agriculture's annual general meeting at the Confederation Centre of the Arts Friday where he provided an update on the group's financial position.
The update came on the heels of a rough period for the federation after former employee Karolyn Mae Tweedy stole more than $51,000 between May 2009 and January 2011.
In its 2012 budget, the Federation of Agriculture expects to spend $261,500, which was up by about $21,000 over last year. Revenues are also expected to reach $273,700, which is an increase of almost $15,000 over 2011.
Although revenues are expected to be up in 2012, the increased spending meant the Federation of Agriculture's income would be slightly lower this year and come in at $12,200. Last year the federation budgeted for a $332 loss but managed to come in under budget and finished with a net income of almost $19,000.
The federation's biggest expense, by far, will be wages and salaries, which are expected to come in at $115,000 for 2012.
Jamieson said there were extra costs for accounting and legal services in 2011, but the federation got a bit of break because the organization had a period where there wasn't an administrative employee.
"She was under investigation," he said.
In 2010, the federation incurred big costs associated with an audit as a result of the theft, which is why it paid $15,000 for legal and accounting fees, he said.
"We're not anticipating that for next year."
Jamieson said he expects a slight increase in memberships in 2012 and extra funding from corporate sponsorships, including an agreement with Farm Credit Canada.
"I think we'll see a little bit of an increase in that," he said.
The budget called for slight increases in several areas, including travel costs, advertising, office supplies and insurance.
Jamieson said he is asking for an increase in the Farmer Assistance Program, which provides funding for counseling, because there has been increased demand for the service.
"I'd like for us as an organization to spend a little more on that because that is a very valuable service that we can provide," he said.
rross@theguardian.pe.ca
