Agenda Mennonite Burial Society Annual General …€¦ · Agenda Mennonite Burial Society Annual...

Agenda

Mennonite Burial Society

Annual General Meeting Saturday January 11, 2014

at Tabor Manor Great Room, St. Catharines

held at 2:00 p.m.

1. Opening Remarks and Prayer – Harold Neufeld

2. Review of the Agenda – Harold Neufeld

3. Appointment of Recording Secretary – Kathy Hunermund

4. Invocation and Memorial Service – Randy Klaassen, St. Catharines United

Mennonite Church

5. Review January 12, 2013 Annual General Meeting minutes – Vic Ens

6. President’s Report - Harold Neufeld

7. Finance Committee Report – Jerry Schroeder

8. Membership Reports – Barry Boese

9. Marketing & Promotion - Wayne Thiessen

10. 2013 Financial Reports – Barry Boese

11. External Accountant's Financial Statements

12. Funeral Services Expense Report for 2014 – Barry Boese

13. Levy and Maximum Funeral Benefit Amount Recommendations for 2014 -

Harold Neufeld and Barry Boese

14. Proposed Budget for 2014 – Barry Boese

15. Election of Board Members / Auditor - Harold Neufeld

16. Other Business

17. Closing Remarks –Wayne Thiessen

18. Adjournment

Last NameFirst Name City Province Age % Funeral Amount

Listing of Deceased Members during 2013 Mennonite Burial Society

1 TiessenDean William Leamington ON 46 100 $6,300.00

2 DicksonRobert John Ottawa ON 48 100 $5,800.00

3 KlassenBradley James St. Catharines ON 49 100 $6,300.00

4 ReycraftCheryl Diane Kitchener ON 49 100 $6,300.00

5 PennerPaul Orangeville ON 50 100 $6,300.00

6 HildebrandtPeter John Niagara on the lake ON 52 100 $6,300.00

7 WarkentinEvald Abbotsford BC 53 100 $6,300.00

8 WiensArtur Abbotsford BC 56 100 $6,300.00

9 KlassenJohn Peter Cottam ON 58 100 $6,300.00

10 NeufeldJonathan Philip Fenwick ON 59 100 $6,300.00

11 FransenEdgar Henry St. Catharines ON 59 100 $6,300.00

12 PetersElizabeth Ann Niagara-on-the-lake ON 60 100 $6,300.00

13 SlingerlandLaurie Suzanne Guelph ON 61 100 $6,300.00

14 WiensVernon Paul Henry Port Rowan ON 69 100 $6,300.00

15 HildebrandPeter Port Rowan ON 69 100 $6,300.00

16 HildebrandErwin St. Catharines ON 70 100 $6,300.00

17 MartensPeter Steinbach MB 72 100 $6,300.00

18 MatzKaethi Abbotsford BC 72 100 $6,300.00

19 DyckGeorge Brantford ON 72 100 $6,300.00

20 WillmsRichard Corney Niagara Falls ON 72 100 $6,300.00

21 BerkauLenora Iris Petersburg ON 73 100 $6,300.00

22 EppSusie St. Catharines ON 73 100 $6,300.00

23 MechMartha Leona Vineland ON 74 100 $6,300.00

24 WichertJacob Virgil ON 75 100 $6,300.00

25 HildebrandHerta Lena Burlington ON 75 100 $6,300.00

26 RiedigerAbe Albert St. Catharines ON 76 100 $6,300.00

27 JanzenLena "Helen" Winnipeg MB 76 100 $6,200.00

28 KlassenJohn Peter Ottawa ON 76 100 $6,300.00

29 HiebertHenry David Port Rowan ON 77 100 $6,300.00

30 GoertzHelmuth St. Catharines ON 77 100 $6,300.00



31 NiessenJakob Austria 77 100 $6,300.00

32 ReimerWilliam R. St. Catharines ON 77 100 $6,300.00

33 NeufeldAgnes Leamington ON 77 70 $4,410.00

34 TempestBernard William St. Catharines ON 77 100 $6,300.00

35 BarkovskyHenry Verner Leamington ON 78 70 $4,410.00

36 PankratzElsie St. Catharines ON 78 100 $6,300.00

37 CorniesHenry St. Catharines ON 79 100 $6,300.00

38 WallIrvin Wainfleet ON 79 100 $6,300.00

39 BartelJohn St. Catharines ON 79 80 $5,040.00

40 KlassenHenry J. St. Catharines ON 79 100 $6,300.00

41 MartensJohn St. Catharines ON 79 100 $6,300.00

42 BraunJakob St. Catharines ON 79 100 $6,300.00

43 PetersJudith St. Anns ON 80 50 $3,150.00

44 KopeschnyHeinrich St. Catharines ON 80 100 $6,300.00

45 GretzingerAgnes Mississauga ON 80 100 $6,300.00

46 KlassenHenry McMahon SK 80 100 $6,300.00

47 DurksenJakob St. Catharines ON 80 100 $3,150.00

48 NeufeldErnest Leamington ON 81 70 $4,410.00

49 JanzenNick Virgil ON 81 100 $6,300.00

50 HeideArchie Ruben St. Catharines ON 81 100 $6,300.00

51 ZimmermanNikolaus Niagara on the Lake ON 82 80 $5,040.00

52 LedwezDaniel Port Colborne ON 82 100 $6,300.00

53 HildebrandtJohn Gordon Vineland ON 82 100 $6,300.00

54 HuebnerElizabeth Gertrude St. Catharines ON 82 50 $3,150.00

55 TiessenPeter Leamington ON 82 70 $4,410.00

56 EulerRobert William Waterloo ON 82 80 $5,040.00

57 VothSusan St. Catharines ON 83 100 $6,300.00

58 DyckHelena Leamington ON 83 10 $630.00

59 BartelMartha Leamington ON 83 60 $3,780.00

60 KornelsenKaethe St. Catharines ON 83 100 $6,300.00



61 FieguthWerner Georg Virgil ON 83 50 $3,150.00

62 RiemlandVictor Virgil ON 84 100 $6,300.00

63 LammertFrank F. Niagara-on-the-lake ON 84 100 $6,300.00

64 MambergerBrunhilde Terese Konradine

St. Catharines ON 84 90 $5,670.00

65 WallKatie (Kay) St. Catharines ON 84 100 $6,300.00

66 SemenachGeorge Niagara Falls ON 85 100 $6,200.00

67 UnrauEdward Vineland ON 85 100 $6,300.00

68 Van BergenEberhard Virgil ON 85 100 $6,300.00

69 PetkauHeinrich (Henry) P. St. Catharines ON 85 100 $6,300.00

70 RempelMargarete St. Catharines ON 86 100 $6,300.00

71 RempelRudolph Leamington ON 86 70 $4,410.00

72 DyckHenry John Abbotsford BC 86 100 $6,300.00

73 SteingartFrank Gerald St. Catharines ON 86 100 $6,300.00

74 FriesenAuguste Virgil ON 86 100 $6,300.00

75 FlamingElfrieda Leamington ON 86 70 $4,410.00

76 BergMary North York ON 87 100 $6,300.00

77 WiensPhoebe Toronto ON 87 100 $6,300.00

78 FroeseJacob H. Leamington ON 87 70 $4,410.00

79 HoSze Lu Scarborough ON 87 60 $3,720.00

80 FriesenBetty Alice St. Catharines ON 87 100 $6,300.00

81 MartensJack St. Catharines ON 87 100 $6,300.00

82 WiensMary St. Catharines ON 87 100 $6,300.00

83 WiebePeter Brantford ON 88 90 $5,670.00

84 FroeseJacob Peter Niagara-on-the-lake ON 88 100 $6,300.00

85 JanzenAgatha St. Catharines ON 88 100 $6,300.00

86 KlassenPeter St. Catharines ON 88 90 $5,670.00

87 LoewenAlbert Chilliwack BC 88 100 $6,300.00

88 EdigerHilda Helene Virgil ON 88 100 $6,300.00

89 DerksenKatharina Petrolia ON 88 70 $4,410.00

90 LeppJacob Henry (Jack) Vineland ON 89 60 $3,780.00



91 WallMaria Virgil ON 89 100 $6,300.00

92 FastAnne Waterloo ON 89 100 $6,300.00

93 LoetkemanMaria St. Catharines ON 89 100 $6,300.00

94 FaulknerCharles Murdock Vincent

Jordan Station ON 90 40 $2,520.00

95 HuberWalter St. Catharines ON 90 100 $6,300.00

96 SteingartHelmut Virgil ON 90 100 $6,300.00

97 AndresMary Virgil ON 90 100 $6,300.00

98 NeufeldFrieda Virgil ON 90 100 $6,300.00

99 RempelVera Vineland ON 90 70 $4,410.00

100 SawatskyAlice St. Catharines ON 91 100 $6,300.00

101 PetersErna St. Catharines ON 91 100 $6,300.00

102 DickMary St. Catharines ON 92 100 $6,300.00

103 DueckHenry H. St. Catharines ON 92 100 $6,300.00

104 MartensLeonard Adolf St. Catharines ON 92 100 $6,300.00

105 MohlmannJeannette Barendina Wakefield QC 92 100 $6,200.00

106 LoewenElsie Tina North Bay ON 92 100 $6,300.00

107 DyckJohn Kitchener ON 92 100 $6,300.00

108 NeufeldKatherine Hamilton ON 92 40 $2,520.00

109 WalkerHelen Virgil ON 92 100 $6,300.00

110 NeufeldKatie Vineland Station ON 92 100 $6,300.00

111 VothHelene Niagara on the Lake ON 94 100 $6,300.00

112 NaesarMaria Niagara-on-the-lake ON 94 100 $6,300.00

113 JanzenMargaret North Vancouver BC 94 100 $6,300.00

114 DueckKatie St. Catharines ON 95 100 $6,300.00

115 WiebeAnne Kitchener ON 95 100 $6,300.00

116 WiebeJacob St. Catharines ON 95 100 $6,300.00

117 BraunElizabeth (Betty) St. Catharines ON 95 100 $6,300.00

118 JanzenAgnes Kitchener ON 96 100 $6,300.00

119 IstchenkoAlexander Niagara-on-the-lake ON 97 100 $6,300.00

120 BaergMargaret Virgil ON 97 50 $3,150.00



121 WielerMaria St. Catharines ON 98 60 $3,780.00

122 HildebrandtHelene Vineland ON 99 100 $6,300.00

123 WiensMaria St. Catharines ON 101 100 $6,300.00

124 WeierMargaret Vineland ON 102 100 $6,300.00

$718,600.00Total Funeral Costs

$635,929.07Total Funeral Costs, excluding HST

1

MINUTES MENNONITE BURIAL SOCIETY ANNUAL GENERAL MEETING

At Pleasant Manor Chapel 15 Elden St., Virgil

Date: Saturday Jan. 12, 2013 @ 2:00 pm Chair: Harold Neufeld Recording Secretary: Kathy Hunermund Attendance: 39

1) Opening by Harold Neufeld. Harold welcomes everyone and introduces David Brubacher from Bethany Church. David spoke about the need to “care for each other” and “coming together” in our time of loss with God at our side.

2) Invocation and Memorial Service

Wayne Thiessen and Kathy Hunermund read the list of all those who had passed away in 2012. David Brubacher spoke about the opportunity to honour and remember our loved ones and the best way to do that is to walk along with Christ just as our loved ones did. David then closed in prayer.

3) Review of the Agenda by Harold Neufeld. Henry Kroeker moves to accept the agenda as

stated, seconded by Vic Ens, carried. 4) Appointment of recording Secretary by Jerry Schroeder: Pete Siemens moves to appoint Kathy Hunermund as recording secretary, seconded by Walter Isaac, carried. 5) Review of the Minutes of the Jan. 14, 2012 Annual Meeting by Vic Ens: Vic introduced the Board members and reviewed the minutes as presented. Vic recommends an amendment to the Election of Board members. Harold Neufeld’s term expired last year and the minutes failed to indicate the Harold agreed to stand for another 3 year term. Vic moved to accept the minutes of January 14, 2012 with the amendment, seconded by Peter Klassen, carried. 6) President’s Report: The society does not have a President at this time. Harold Neufeld spoke about the need for more Board members and asked those in attendance to talk to people that may be interested and encourage them to put their names forward. Harold also indicted the information and reports to follow will cover all business carried on by the society. 7) Finance Committee Report by Harold Neufeld: a) Investment Policy: Harold reviewed the “Investment Policy Summary” as provided on page 10. Harold spoke about the need to obtain the services of another investment firm in order to spread the monies held by the society as each company has a cap on the amount which is insured. Moved by Art Andres to accept Harold’s report. seconded by Peter Siemens, carried..

2

b) Professional Audit: Harold advised the members as recommended at last year’s AGM that some research was done on hiring an outside auditor to review the society’s books. Harold obtained quotes from two accounting firms. There are two options 1) a full audit or 2) a review engagement. There was discussion as the difference and an explanation was provided that a full audit is self-explanatory and a review engagement is where the accounting firm does random sampling of the books. Motion by Vic Ens: The MBS have a one time review engagement done to ensure the correct processes are being followed and then consider the results to determine if future “outside” audits are required. The review engagement to be for the 2013 fiscal year. Seconded by Buddy Andres, carried. 8) Membership Report by Barry Boese: Barry reviews the statistics found on pages 11, 12 and 13 of the annual report. There were no questions. Moved by Kathy Hunermund to accept the report, seconded by Bob Schultz, carried. 9) 2012 Financial Report by Barry Boese: Barry reviews the Income Statement and Balance Sheets found on pages 15 and 16. Moved by Peter Siemens, seconded by Vic Ens, carried. 10) Auditors Report by Harold Neufeld: Harold reviews the report as shown on pages 15 & 16. There was a question regarding what were the “Fixed Assets, Office furniture and equipment. Barry Boese stated this represented office furniture inclusive of filing cabinets etc. Moved by Bob Schulz, seconded by Art Andres, carried. Bob Schulz thanked Barry for all his hard work put into preparing all the documents for the auditor’s review. 11) Funeral Expense Report by Barry Boese: Barry reviews the chart on page 17 which indicates the current funeral home expenses, HST and cemetery costs. Moved by Peter Siemens, seconded by Buddy Andres, carried. 12) Levy and Maximum Funeral Benefit for 2013: Harold presents the recommendation from the Administrative Council as shown on page 18. After some discussion, Peter Siemens moves to accept the recommendations shown, seconded by Vic Ens, carried. Therefore the levies and benefits for 2013 are: Senior (age 51+) $ 72.00 Adult (age 15-50) $ 67.00 Children (age 0-14) $ 19.00 Registration $ 6.00 Funeral benefit $ 6,300.00 13) Proposed Budget for 2013 by Barry: Barry reviews the proposed 2013 budget (pages 19, 20 21). Moved by Barry, seconded by Vic Ens, carried. 14) Election of Board Members and Auditors by Harold Neufeld a) Board Members: Two current board members have their terms finish; John Hildebrand and Kathy Hunermund. John has decided not to renew another term. Harold opens the floor for nominations. Vic Ens nominates Kathy Hunermund. No further nominations. Nominations closed. Kathy accepts the nomination. Moved by Buddy Andres, seconded by Peter Siemens, carried.

3

b) Auditors: Bob Dinga, Maria Epp and Bob Schulz are the current auditors. Bob Dinga’s term is completed. Bob has agreed to let his name stand if nominated. No further nominations. Nominations closed. Moved by Art Andres, seconded by Peter Klassen, carried. 15) Other Business a) Actuarial Report: At the 2011 AGM, it was suggested that the society begin the process of creating a current actuarial report. We enlisted the aid of a member and he provided the society with three options. The Board chooses the third of three options, meaning that the cost to the society will be zero. The report is to be completed by June and the results will be shared at the 2013 annual meeting. Barry reviewed this report (pages 22 & 23) and indicated the report was provided for information purposes only. b) Marketing: Harold spoke about the decline in the society’s membership and presented some information to the membership for discussion: - should the society consider opening the criteria as per the constitution to an “attendee” of a Mennonite church rather than a “member”? - some discussion re: the Kitchener-Waterloo, Richmond Hill area has a number of Mennonite churches with a possibility of obtaining new members from those areas It was suggested that the society do some investigating in the above areas to determine if there is an interest or not. 16) Closing Remarks by Wayne Thiessen: Wayne thanks all for attending the meeting and participating in the meeting. He closes in prayer. Moved by Buddy Andres to adjourn the meeting, seconded by Peter Klassen, carried. Meeting adjourned at 4:00pm. Kathy Hunermund Recording Secretary

MENNONITE BURIAL SOCIETY

MEMBERSHIP AND STATISTICAL REPORTS

MEMBERSHIP ACTIVITY

2009 2010 2011 2012 2013 # %

# of Members - Start of

Fiscal Year 12,111 11,874 11,874 11,361 11,058 -303 -3%

Newly Registered Seniors 41 5 4 12 16 4 33%

Newly Registered Adults 106 39 28 38 71 33 87%

Newly Registered Children 109 91 56 56 139 83 148%

# of Members Registered 256 135 88 106 226 120 113%

# of Deaths 120 108 144 108 124 16 13%

# of Seniors Deleted 57 47 50 76 62 -14 -18%

# of Adults Deleted 263 114 147 150 210 60 40%

# of Children Deleted 53 58 68 75 45 -30 -40%

# of Members Deleted 373 219 265 301 317 16 5%

Total Membership - End of

Fiscal Year 11,874 11,682 11,553 11,058 10,843 -215 -2%

11,874 -192 -321 -495 -215

-2% -2% -3% -4% -2%

STATISTICAL REPORT BY AGE AND BENEFIT GROUPINGS

2009 2010 2011 2012 2013 # %

0-2 108 182 92 133 82 -51 -38%

3-10 809 787 720 689 605 -84 -12%

11-29 2,607 2,562 2,399 2,301 2,175 -126 -5%

30-34 600 571 586 561 596 35 6%

35-39 585 570 531 512 486 -26 -5%

40-44 709 685 616 597 548 -49 -8%

45-49 847 848 770 760 648 -112 -15%

50-54 943 934 904 883 861 -22 -2%

55-59 852 837 880 865 871 6 1%

60-64 675 672 707 698 749 51 7%

65-69 625 621 616 613 657 44 7%

70-74 674 671 644 635 614 -21 -3%

75-79 694 681 690 682 635 -47 -7%

80-84 582 562 552 529 590 61 12%

85-89 403 365 449 428 460 32 7%

90+ 161 134 205 172 266 94 55%

Total 11,874 11,682 11,361 11,058 10,843 -215 -2%

Variance -237 -192 -321 -303 -215

STATISTICAL REPORT BY GENDER

2009 2010 2011 2012 2013 # %

Males 5,745 5,658 5,504 5,350 5,206 -144 -3%

Females 6,129 6,024 5,857 5,708 5,637 -71 -1%

Total 11,874 11,682 11,361 11,058 10,843 -215 -2%

Variance -237 -192 -321 -303 -215

-2% -2% -3% -3% -2%

Variance

Variance

Variance


DEATHS BY LOCATION, AGE, PERCENTAGE OF BENEFIT AND GENDER REPORT

St. Catharines 42 34% 0-2 0 0% 10 630 0% Male 67 54%

Niagara-on-the Lake / Virgil 21 17% 3-10 0 0% 30 0 0% Female 57 46%

Vineland 8 6% 11-29 0 0% 40 5,040 1% Total 124 100%

Rest of Niagara Region 7 6% 30-34 0 0% 50 12,600 2%

Leamington 10 8% 35-39 0 0% 60 15,060 2%

Kitchener / Waterloo 6 5% 40-44 0 0% 70 39,690 6% Male 51 47%

Port Rowan 3 2% 45-49 4 3% 80 15,120 2% Female 57 53%

Rest of Province 16 13% 50-54 3 2% 90 17,010 2% Total 108 100%

Out of Province 11 9% 55-59 4 3% 100 613,450 85%

Total 124 100% 60-64 2 2%

65-69 2 2%

70-74 8 6%

St. Catharines 36 38% 75-79 19 15% Total 718,600 100%

Niagara-on-the Lake / Virgil 23 12% 80-84 23 19%

Vineland 7 3% 85-89 28 23%

Rest of Niagara Region 5 3% 90+ 31 25% 10 620 0%

Leamington 7 9% Total 124 100% 30 0 0%

Kitchener / Waterloo 5 5% 40 2,480 1%

Port Rowan 1 1% 50 3,100 2%

Rest of Province 16 21% 0-2 1 1% 60 11,160 2%

Out of Province 8 8% 3-10 0 0% 70 67,235 11%

Total 108 100% 11-29 0 1% 80 34,720 6%

30-34 1 0% 90 27,900 4%

35-39 0 1% 100 455,700 72%

40-44 3 0%

45-49 0 1%

50-54 0 0%

55-59 6 2% Total 602,915 100%

60-64 5 1%

65-69 5 1%

70-74 6 3%

75-79 5 15%

80-84 22 18%

85-89 22 29%

90+ 32 26%

Total 108 100%

Deaths by Location Death by Age % of Benefits Gender

2012

2012

20132013

2012

2013

2012

2013

1/11/14 DEATHS BY LOCATION, AGE, PERCENTAGE OF BENEFIT AND GENDER - updated 2014 01 11


AVERAGE BENEFIT AND DEATHS REPORT

TOTAL TOTAL DEATH PER ANNUAL FUNERAL AVERAGE APPROVED

YEAR MEMBERS * DEATHS 1000 INCOME ** BENEFITS ** BENEFIT ** BENEFIT ***

2009 11,874 120 10.11 $704,677 $593,528 $4,946 $5,800.00

2010 11,682 108 9.24 $686,651 $501,735 $4,646 $5,800.00

2011 11,361 144 12.67 $639,749 $677,886 $4,708 $6,100.00

2012 11,058 108 9.77 $671,982 $533,553 $4,940 $6,200.00

2013 10,843 124 11.44 $672,254 $635,930 $5,128 $6,300.00

Variance -215 16 2 272 102,377 188 100

% -1.9% 14.8% 17.1% 0.0% 19.2% 3.8% 1.6%

* as of Dec 31st

** above figures exclude GST / HST

*** includes GST / HST

Variance compares 2013 to 2012

1/11/14 AVERAGE BENEFIT AND DEATH REPORT - updated 2014 01 11


Board Members, Committees, Admin Council, Auditors and Staff

Board members Title

Term

Start

Term

(years)

Term

End Email Phone #

Harold Neufeld President Jan-12 3 Jan-15 [email protected] 905-468-1847Jerry Schroeder Treasurer Jan-11 3 Jan-14 [email protected] 905-562-4783

SecretaryKathy Hunermund Director Jan-13 3 Jan-16 [email protected] 905-562-5846Wayne Thiessen Director Jan-12 3 Jan-15 [email protected] 905-898-6247

DirectorDirector

Finance Committee

Jerry Schroeder [email protected] 905-562-4783Henry Kroeker [email protected] 519-326-2779

Auditors

Bob Schulz Jan-12 3 Jan-15 [email protected] 905-468-3887

Bob Dinga Jan-13 3 Jan-16 [email protected] 905-309-6768

Maria Epp Jan-09 5 Jan-14 [email protected] 905-938-7340

Admin Council Church

Art Andres Bethany Mennonite [email protected] 905-468-2355

Susan Klassen Leamington North UM [email protected] 519-326-2337

Henry Kroeker Leamington Oak Street UM [email protected] 519-326-2779

Walter Isaac Grantham MB [no email address] 905-934-2656

Leamington MB

Abe Isaac Fairview MB [email protected] 905-935-4077

Harry Thiessen Fairview MB [email protected] 905-934-1543

Gerry Steingart Kitchener Area [email protected] 519-576-1497

Kua Teng Laotion Church [email protected] 905-646-3651

Kathryn Hendriks Vineland UM [email protected] 905-945-2530

Megan Cairnie Southridge MB (formerly Vineland MB) [email protected] 905-945-4500

Raymond Ho Toronto Chinese [no email address] 416-497-3221

Katie Redekopp Scott Street MB [email protected] 905-658-1564

Vic Ens St. Catharines UM [email protected] 905-937-4903

StaffBarry Boese [email protected] 905-228-1850

1/11/14 MBS Contacts and Related Information - 2014 01 10


Unaudited Financial Statements

December 31, 2013


Unaudited Financial Statements

December 31, 2013

Table of ContentsPage

Review Engagement Report 1

Unaudited Statement of Financial Position 2

Unaudited Statement of Changes in Net Assets 3

Unaudited Statement of Operations 4

Unaudited Statement of Cash Flows 5

Notes to Unaudited Financial Statements 6-7

REVIEW ENGAGEMENT REPORT

To the Members ofMennonite Burial Society

We have reviewed the statement of financial position of Mennonite Burial Society as at December31, 2013 and the statements of operations, changes in net assets and cash flows for the year thenended. Our review was made in accordance with Canadian generally accepted standards forreview engagements and, accordingly, consisted primarily of inquiry, analytical procedures anddiscussion related to information supplied to us by the organization.

A review does not constitute an audit and, consequently, we do not express an audit opinion onthese financial statements.

Based on our review, nothing has come to our attention that causes us to believe that thesefinancial statements are not, in all material respects, in accordance with Canadian accountingstandards for not-for-profit organizations.

Niagara-on-the-Lake, OntarioJanuary 10, 2014 CRAWFORD, SMITH AND SWALLOW

CHARTERED ACCOUNTANTS LLP

LICENSED PUBLIC ACCOUNTANTS

1


UNAUDITED STATEMENT OF FINANCIAL POSITIONDecember 31, 2013

Assets 2013 2012$ $

Current AssetsCash 36,960 54,792Term deposits 91,510 167,809Sales tax recoverable 60,133 22,803

188,603 245,404

Investments - note 2 1,684,687 1,613,899

Fixed Assets 590

1,873,290 1,859,893

Liabilities and Net Assets

Current LiabilitiesAccrued liabilities 2,503

Net Assets - note 4 1,870,787 1,859,893

1,873,290 1,859,893

Signed on behalf of the Board:

_____________________________ Director

_____________________________ Director

See accompanying notes2


UNAUDITED STATEMENT OF CHANGES IN NET ASSETSfor the year ended December 31, 2013

2013 2012$ $

Net Assets, Beginning of Year 1,859,893 1,743,416

Excess of Revenues over Expenses for the Year 10,894 116,477

Net Assets, End of Year 1,870,787 1,859,893



UNAUDITED STATEMENT OF OPERATIONS for the year ended December 31, 2013

2013 2012$ $

RevenueLevy income and membership fees 619,641 611,165Investment income 43,323 51,789Other income 9,290 9,027

672,254 671,981

ExpensesBank and interest charges 681 413Funeral 635,930 533,553Insurance 1,468 1,468Obituaries 242 233Office 19,949 19,837Professional fees 2,500

660,770 555,504

Excess of Revenues over Expenses before UndernotedItem 11,484 116,477

OtherWrite-off of fixed assets 590

Excess of Revenues over Expenses for the Year 10,894 116,477



UNAUDITED STATEMENT OF CASH FLOWSfor the year ended December 31, 2013

2013 2012$ $

Operating ActivitiesExcess of revenues over expenses for the year 10,894 116,477Write-off of fixed assets 590

Working capital provided by operations 11,484 116,477Changes in working capital components

Sales tax recoverable (37,330) 2,471Accrued liabilities 2,503

Funds provided (used) by operating activities (23,343) 118,948

Investing ActivitiesDecrease in term deposits 76,299 266,594Increase in investments (70,788) (380,858)

Funds provided (used) by investing activities 5,511 (114,264)

Increase (Decrease) in Cash Position (17,832) 4,684

Cash Position, Beginning of Year 54,792 50,108

Cash Position, End of Year 36,960 54,792



NOTES TO UNAUDITED FINANCIAL STATEMENTSfor the year ended December 31, 2013

Organization

Mennonite Burial Society grants a mutual aid benefit payment in support of the funeralexpenses of its members who have passed away. The organization operates for the benefit ofmembers of Mennonite churches in Ontario, their spouses and their children under parentalcontrol. The organization is a non-profit organization and exempt from tax under paragraph149(1)(l) of the Income Tax Act.

1. Significant Accounting Policies

The financial statements of the organization are the representations of management preparedin accordance with Canadian accounting standards for not-for-profit organizations,consistently applied. Because a precise determination of many assets and liabilities isdependent upon future events, the preparation of periodic financial statements necessarilyinvolves the use of estimates and approximations. These have been made using carefuljudgment in the light of available information. The financial statements have, inmanagement's opinion, been properly prepared within reasonable limits of materiality andwithin the framework of the accounting policies summarized below:

Financial reporting frameworkThe organization, being a not-for-profit organization, has chosen to establish theirfinancial statements in accordance with Canadian accounting standards for not-for-profitorganizations, issued by the Chartered Professional Accountants of Canada.

Revenue recognitionRevenue from member levies is recognized as income when received.

Interest income is recognized when earned, dividends when declared, and investmentgains and losses when realized or based on fair value on the statement of financialposition date for investments measured at fair value.

Financial instrumentsThe organization's financial instruments consist of cash, term deposits and investments.Cash is recorded at fair value. Term deposits and investments are initially recognized andsubsequently measured at fair value without adjustment for transaction costs that wouldbe incurred on disposal. Changes in fair value are recognized in income in the period.Transaction costs associated with the acquisition of these investments are recognized innet income in the period incurred.

Expense recognitionFuneral expenses are recognized when the organization receives proper documentationregarding a members death. There may be funerals that occur in December of each yearthat are eligible for coverage by the organization. The organization may not be aware ofthese amounts until after the financial statements are released in the following year.Therefore, these amounts are not accrued in the financial statements.

6


NOTES TO UNAUDITED FINANCIAL STATEMENTSfor the year ended December 31, 2013

2. Investments

2013 2012$ $

RBC Dominion Securities 731,236

Scotia McLeod 814,370 882,663

TD Waterhouse 253,829

BMO Nesbitt Burns 616,488

1,684,687 1,613,899

3. Financial Instruments

The organization is exposed to the following risks:

Price riskThe organization's term deposits and long-term investments bear interest at fixed rates,and accordingly, the organization is subject to price risk.

4. Surplus

An informal actuarial review was conducted in July 2012 without a professional opinion.The review concluded that a surplus of approximately three to four times that of expectedannual claims is the best estimate for an adequate surplus. As at December 31, 2013, basedon this criteria, the organization is adequately funded.

5. Comparative Amounts

The prior year's amounts were prepared by the organization and were not reported on by anindependent third party. They are presented for comparative purposes only.

The comparative amounts have been restated to conform with the current year's financialstatement presentation.

7


FUNERAL EXPENSE, CEMETERY COSTS, AND VARIANCE REPORT

FUNERAL PROFESSIONAL FEES

2007 2008 2009 2010 2011 2012 2013 2014

Niagara:

Professional Services $3,200.00 $3,300.00 $3,400.00 $3,470.00 $3,685.00 $3,775.00 $3,875.00 $3,975.00

Casket - Grey Vicuna $475.00 $485.00 $495.00 $530.00 $650.00 $700.00 $725.00 $750.00

GST / HST $220.50 $189.25 $194.75 $200.00 $563.55 $581.75 $598.00 $614.25

Total $3,895.50 $3,974.25 $4,089.75 $4,200.00 $4,898.55 $5,056.75 $5,198.00 $5,339.25

Leamington

Professional Services $4,940.00 $4,940.00

Casket - Basic $900.00 $990.00

GST / HST $759.20 $770.90

Total $6,599.20 $6,700.90

% increase 2014 vs 2013 Services 3% Casket 3% GST / HST 3%




CEMETERY COSTS

2007 2008 2009 2010 2011 2012 2013 2014

Vineland $3,549.10 $3,549.70 $3,549.70 $3,558.25 $3,842.00 $3,875.90 $3,915.45 $3,932.40

Victoria Lawn $2,015.99 $2,308.00 $2,308.00 $2,403.00 $2,630.20 $2,925.00 $3,000.00 $3,075.00

Niagara Lakeshore $1,722.50 $1,790.60 $1,790.60 $1,995.00 $2,219.32 $2,316.50 $2,382.38 $2,449.84

Leamington $3,075.80 $3,075.80

% increase 2014 vs 2013 Vineland 0% Victoria Lawn 2% Lakeshore 3%




FUNERAL PROFESSIONAL FEES WITH CEMETERY COSTS

2007 2008 2009 2010 2011 2012 2013 2014

Vineland $7,444.60 $7,523.95 $7,639.45 $7,758.25 $8,740.55 $8,932.65 $9,113.45 $9,271.65

Victoria Lawn $5,911.49 $6,282.25 $6,397.75 $6,603.00 $7,528.75 $7,981.75 $8,198.00 $8,414.25

Niagara Lakeshore $5,618.00 $5,764.85 $5,880.35 $6,195.00 $7,117.87 $7,373.25 $7,580.38 $7,789.09

Leamington $9,675.00 $9,776.70





MENNONITE BURIAL SOCIETY BENEFIT

2007 2008 2009 2010 2011 2012 2013 2014

Benefit Amount $5,250.00 $5,686.00 $5,800.00 $5,800.00 $6,100.00 $6,200.00 $6,300.00 $6,400.00

% increase 1% 8% 2% 0% 5% 2% 2% 2%

VARIANCE REPORT - COSTS AND BENEFIT

2007 2008 2009 2010 2011 2012 2013 2014

Vineland -$2,194.60 -$1,837.95 -$1,839.45 -$1,958.25 -$2,640.55 -$2,732.65 -$2,813.45 -$2,871.65

Victoria Lawn -$661.49 -$596.25 -$597.75 -$803.00 -$1,428.75 -$1,781.75 -$1,898.00 -$2,014.25

Niagara Lakeshore -$368.00 -$78.85 -$80.35 -$395.00 -$1,017.87 -$1,173.25 -$1,280.38 -$1,389.09

Leamington -$3,375.00 -$3,376.70





Cemetery Costs increase normally in Spring of each year, so costs for the later part of this year will likely be higher

Leamington 2014 figures only partially updated, as information was not available at time of printing

<<< Niagara Only %s

<<< Niagara Only %s

<<< Niagara Only %s

<<< Niagara Only %s

1/11/14 FUNERAL EXPENSES, CEMETERY COSTS, AND VARIANCE REPORT - updated 2014 01 11


Balance Sheet

2009 2010 2011 2012 2013 2014 2015 2016 2017 2017

ASSETS

Current Assets

Chequing/Savings

Meridian Credit Union 92,524 53,017 46,432 52,168 34,235 33,685 33,135 32,585 32,035 31,485

Mennonite Savings&Credit Union 14,291 2,306 3,036 1,930 2,350 1,930 1,930 1,930 1,930 1,930

PayPal / Credit Cards 640 694 375 350 400 450 450 450

Total Chequing/Savings 106,815 55,323 50,108 54,792 36,960 35,965 35,465 34,965 34,415 33,865

Other Current Assets

Scotia McLeod 403,026 615,066 882,663 814,370 819,370 824,370 829,370 834,370 839,370

RBC Dominion Securities 793,433 796,486 617,975 731,236

TD Waterhouse 253,829 303,829 353,829 403,829 453,829 503,829

BMO Nesbitt Burns 616,488 595,859 632,246 701,232 791,721 883,029

Mennonite Savings Credit Union 736,985 532,473 434,403 167,809 91,510 92,425 93,349 94,283 95,226 96,178

HST Recoverable 5,390 18,955 25,274 22,803 60,133 32,250 33,250 34,250 35,250 36,250

Total Other Current Assets 1,535,808 1,750,940 1,692,718 1,804,511 1,836,330 1,843,733 1,937,044 2,062,964 2,210,395 2,358,656

Total Current Assets 1,642,623 1,806,264 1,742,826 1,859,303 1,873,290 1,879,698 1,972,509 2,097,929 2,244,810 2,392,521

Fixed Assets

Office Furniture and Equipment 590 590 590 590

Total Fixed Assets 590 590 590 590

TOTAL ASSETS 1,643,213 1,806,854 1,743,416 1,859,893 1,873,290 1,879,698 1,972,509 2,097,929 2,244,810 2,392,521

LIABILITIES & EQUITY

Liabilities (Accrued Professional Fees) 2,503

Total Liabilities 2,503

Equity

General Fund 1,557,518 1,643,213 1,806,854 1,743,416 1,859,894 1,870,788 1,879,698 1,972,509 2,097,929 2,244,810

Net Income 85,695 163,641 (63,438) 116,478 10,894 8,910 92,811 125,420 146,881 147,710

Total Equity 1,643,213 1,806,854 1,743,416 1,859,894 1,870,788 1,879,698 1,972,509 2,097,929 2,244,810 2,392,521

TOTAL LIABILITIES & EQUITY 1,643,213 1,806,854 1,743,416 1,859,894 1,873,290 1,879,698 1,972,509 2,097,929 2,244,810 2,392,521

Total Assets divided by Funeral Costs 2.8 3.6 2.6 3.5 2.9 2.8 2.7 2.8 2.8 2.8

Actual Results Forecasts

Forecasts - Balance Sheet and Receipts and Disbursements - as of 2014 01 11 Page 1 of 2


Receipts and Disbursements

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Income

Levy Income 631,669 635,500 579,262 610,603 619,121 661,998 782,883 851,689 910,943 950,505

Interest Income 62,726 45,170 54,863 51,789 43,323 43,649 43,798 45,961 48,883 52,306

Membership Fees 836 725 457 563 520 570 620 670 720 770

Other Income 9,446 5,256 5,167 9,027 9,290 9,790 10,290 10,790 11,290 11,790

Total Income 704,677 686,651 639,749 671,982 672,254 716,007 837,591 909,110 971,836 1,015,371

Expense

Funeral Costs 593,528 501,735 677,886 533,553 635,930 681,446 718,453 757,291 798,046 840,806

Office Operations 11,527 7,620 10,697 7,750 11,055 11,555 12,055 12,555 13,055 13,555

Treasurer's Allowance 13,928 13,655 14,603 14,201 14,375 14,096 14,272 13,844 13,854 13,300

Total Expense 618,982 523,011 703,186 555,504 661,360 707,096 744,780 783,690 824,954 867,660

Net Income 85,695 163,641 (63,438) 116,478 10,894 8,910 92,811 125,420 146,881 147,710

Assumptions:

Number of Members at start of year 12,111 11874 11,682 11,361 11,058 10,843 10,572 10,255 9,896 9,500

% increase (decrease) -2.0% -1.6% -2.7% -2.7% -1.9% -2.5% -3.0% -3.5% -4.0%

Average Levy Income per Member 52$ 54$ 50$ 54$ 56$ 61$ 74$ 83$ 92$ 100$

% increase (decrease) 2.6% -7.4% 8.4% 4.2% 9.0% 21.3% 12.2% 10.8% 8.7%

Interest Income - % of previous year balance 2.7% 3.0% 3.0% 2.3% 2.3% 2.3% 2.3% 2.3% 2.3%

Additional Funerals Per Year? 4 2 2 2 2

# of Funerals per Year 120 108 144 108 124 128 130 132 134 136

% increase (decrease) -10.0% 33.3% -25.0% 14.8% 3.2% 1.6% 1.5% 1.5% 1.5%

Average funerals per year (from 2009) 114 124 120 121 122 123 124 125 126

Maximum Funeral Costs 5,800$ 5,800$ 6,100$ 6,200$ 6,300$

Average Funeral Costs 4,946$ 4,646$ 4,708$ 4,940$ 5,128$ 5,324$ 5,527$ 5,737$ 5,956$ 6,182$

% increase (decrease) -6.1% 1.3% 4.9% 3.8% 3.8% 3.8% 3.8% 3.8% 3.8%

Treasurer's Allowance / member 1.15$ 1.15$ 1.25$ 1.25$ 1.30$ 1.30$ 1.35$ 1.35$ 1.40$ 1.40$

Levy Rates:

Senior 65 65 65 70 72 79 96 108 120 130

Adult 60 60 60 65 67 73 89 100 111 121

Child 17 17 17 18 19 21 25 28 31 34

* 2011 results, specifically Average Levy Income Per member, was signicantly impacted by the change from GST (5%) to HST (13%)

Actual Results Forecasts

Forecasts - Balance Sheet and Receipts and Disbursements - as of 2014 01 11 Page 2 of 2

The Administrative Council of the Mennonite Burial Society is presenting the

following recommendations and/or options for 2014:

1) That the levies and funeral benefits be revised as shown below, or per one of the other options noted below:

Senior ( ages 51 + ) levies at 79$ ($65 - 2009, 2010; $70 - 2012, $72 - 2013)

Adult ( ages 15-50) levies at 73$ ($60 - 2009, 2010; $65 - 2012, $67 - 2013)

Children ( ages 0-14) levies at 21$ ($ 17 earlier; $18 - 2012, $19 - 2013)

Maximum funeral benefits at 6,400$

One-time registration fee for each new member is $ 6.00

Potential Options - or others if you'd like to discuss? A B

Increase Same as 2013

Senior ( ages 51 + ) levies at 79$ 72$

Adult ( ages 15-50) levies at 73$ 67$

Children ( ages 0-14) levies at 21$ 19$

Maximum funeral benefits at 6,400$ 6,300$

Net Surplus (Deficit) 856$ (51,513)$

per next page

($5,800 - 2009/2010, $6,100 - 2011,

$6200 - 2012, $6300 - 2013)

2014 Proposal and Budget - updated 2014 01 10 Page 1 of 4

ESTIMATED INCOME BUDGET FOR 2014

Number

Estimated of Members per Member

Registration Income 600$ 100 6$

Child Levies ages 0-14 25,830$ 1,230 21$

Adult Levies ages 15-50 310,250$ 4,250 73$

Senior Levies ages 51+ 416,725$ 5,275 79$

Interest income 35,000$

Other Income 7,000$

Less HST included in above (86,675)$

Total Income 708,730$ 10,755

ESTIMATED EXPENSE BUDGET FOR 2014

Expenses

Funeral Costs 771,276$ 129 5,978.88$

Treasurer Honorarium 15,909$ 10,830 1.30$

Other Expenses 12,713$

Less HST included in above (92,024)$

Total Expenses 707,874$

Net Surplus (Deficit) 856$


Estimated Financial Statement for December 31, 2014

Balance as of Dec. 31, 2013 1,873,290

Income from Jan. 1, 2014 to Dec. 31, 2014

Levies, registration, other income 760,405

Interest income 35,000

Less HST included in above (86,675)

Total Income 708,730

Expenses for Jan. 1, 2014 to Dec. 31, 2014

Funeral Expenses 771,276

Other Expenses 28,622

Less HST included in above (92,024)

Total Expenses 707,874

Net Surplus (Deficit) 856

Balance as of Dec. 31, 2014 1,874,146


Calculation of Funeral Benefits

Note 1) Average Percentage of Funeral Benefits

Total Funeral Benefits paid out / number of deaths is about 90%

Note 2) Funeral Benefits as a Percentage of the Maximum

average percentage of funeral benefits from Note 1 is 90% A

Maximum funeral benefits is 6,400.00$ B

therefore the average funeral benefit paid is ( A * B) 5,760.00$ C

Increase for inflation, etc (C * % >) 4% 5,978.88$ D 5,291.04$

Net of HST above:

Note 3) Predicted Number of Deaths for the Year

National average of deaths for our Society's average age 10

number of current members 10,755

the Society predicts the number of deaths to be 107

(added comfort factor) 22

129


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