RECA’s 2023 Annual Report & Financial Statements
| January 31, 2024
The Real Estate Council of Alberta’s (RECA) Annual Report and Audited Financial Statements for the fiscal year ending September 30, 2023 are now available. Licensees are encouraged to read this report thoroughly, as it includes a comprehensive and transparent accounting of RECA’s activities and finances over the year.
It is important to point out that RECA’s financial results on September 30 are inclusive of the largest portion of revenue, obtained annually from the licensing fees due on September 30. This revenue is drawn down over the next fiscal year.
In 2022, the number of new licensees increased by over 175% when compared to 2021, with 2023 realizing similar numbers. This unforeseen and unprecedented level of individuals entering RECA’s regulated industries over the last couple of years, along with an unprecedented level of sustained active licences being maintained, has contributed to a surplus in revenue.
Accordingly, RECA plans to issue a licensing fee credit to all licensees in the coming months. The credit amount will be determined and announced once RECA’s annual budget is set in July.
Audited Financial Statements
RECA’s 2022-2023 Financial Statements were audited by BDO Canada LLP. The full, audited statements are available here.
After reviewing the full report, licensees and consumers are encouraged to reach out with any questions or comments to email@example.com.