2014 2015

AOMBT Annual Report

VISIONSecurity, health

and wellness for the midwifery community

OUR VISION AND STRATEGIC DIRECTIONS

MEMBER SERVICES

Continue to expand and improve our suite of member services

GOVERNANCECreate and/or strengthen our internal processes

and strategies

INNOVATION & GROWTHDesign and deliver creative solutions

BENEFITS ADMINISTRATIONRestructure, strengthen, and invest in people,

processes, and technology

1BENEFITS

ADMINISTRATION GOVERNANCE INNOVATION & GROWTH

FINANCIAL STATEMENTS OUR TEAMMEMBER

SERVICES

HIGHLIGHTS

Strategies: » Continue to deliver a gold standard benefits plan that meets

plan members’ health and wellness needs

» Create a Group RSP plan and investment strategy that supports plan members’ long-term financial goals and needs

» Develop a communications strategy that details a plan for the delivery of timely, credible, relevant information and education opportunities for AOMBT plan members, including an online platform through midwivesbenefits.ca

» Continue to advocate for improvements to the parental leave program from the Ministry of Health and Long-Term Care, including increased and multi-year funding

MEMBER SERVICES

Goal: Continue to expand and improve our suite of member services to meet members’ evolving needs throughout their life cycles.

midwives attended 9 financial education webinars

Introduced cost-saving measures to benefits plan - April 1, 2015

answers on Ask the Expert, launched in 2014 to provide unbiased, credible information about financial issues

Launched midwivesbenefits.ca, offering forms, resources, plus benefits and financial news for all plan members - April 1, 2014

of midwife plan members participated in the 2014 survey

funds available in the Group Retirement Savings Plan, plus a Tax-Free Savings Account

175

l

9

37

15

45%

MEMBER SERVICES

2BENEFITS

ADMINISTRATION GOVERNANCE INNOVATION & GROWTH

FINANCIAL STATEMENTS OUR TEAM

HIGHLIGHTSBENEFITS ADMINISTRATIONplan members, including registered Ontario midwives, AOM and AOM Benefits Trust staff, Toronto Birth Centre staff, and practice administrative staff at 51 practices

Conducted legal review to assess feasibility and implications of administering the benefits in-house

Developed an IT strategy to support new requirements as a result of benefits administration migration

Increased internal capacity with new in-house benefits administration system

practice staff and midwives attended a group training session on the new monthly invoice submission process

49

900+

sStrategies:

» Develop and IT needs analysis to assess business requirements to support benefits administration migration including cost-benefit analysis, risk assessment, and review AOMBT’s internal capacity

» Create plan to identify key deliverables as part of benefits administration migration and development of broader IT system requirements

n

Goal: Restructure, strengthen and invest in people, processes and technology in order to mitigate risks and deliver greater value to members.

BENEFITS ADMINISTRATION

3GOVERNANCE INNOVATION & GROWTH

FINANCIAL STATEMENTS OUR TEAMMEMBER

SERVICES

HIGHLIGHTSGOVERNANCEGoal: annual financial audits resulted in

no new performance occurrences reported

New Trustee position descriptions, created Trustee Vice-Chair position, improved and expanded the Trustee orientation process

policies revised and/or developed, including financial, programmatic, human resources and governance policies

Implemented new financial management and reporting controls

Created new governance tools, including skills and diversity matrix, motion approval templates, and Trustee online learning centre

15+

=Strategies:

» Effective financial management practices, processes and controls will be maintained to ensure adherence to general accounting principles and fiscal and legislative requirements

» Undergo annual audit with goal to achieve no new occurrences as reported in management letter

» Review, develop and maintain a comprehensive set of AOMBT policies

» Continue with Board development plan, including annual Trustee elections, tools to support Trustee role and decision-making processes, Trustee evaluation, succession planning, mentoring and orientation

» Create comprehensive privacy plan, including privacy audit and training of AOMBT staff

2014 2015

#

K

BENEFITS ADMINISTRATION

Goal: Create and/or strengthen our internal processes and strategies to mitigate risk, increase members’ confidence, and fulfill our fiduciary responsibilities as Trustees.

GOVERNANCE

4BENEFITS

ADMINISTRATIONINNOVATION & GROWTH

FINANCIAL STATEMENTS OUR TEAMMEMBER

SERVICES

HIGHLIGHTSINNOVATION & GROWTHEstablished partnership with Toronto Birth Centre, adding TBC employees as AOMBT plan members - March 2014

Strategic sessions and business model developed for partnership plan

Annual AOMBT staff privacy training implemented

Enhanced human resources tools for AOMBT staff

New AOMBT logo and brand implemented across all communication tools and resources - July 2014

Strategies:

» Develop case for enhanced strategic partnerships informed by our vision, mission and philosophy

» Develop/refine human resource initiatives that position AOMBT as employer of choice

» Initiate brand development project for AOMBT

» Assess renaming of AOMBT that more accurately reflects mission, vision and priorities

5h

1

]

G

Goal: Design and deliver creative solutions to meet the needs of a growing and changing membership.

INNOVATION & GROWTH

5BENEFITS

ADMINISTRATION GOVERNANCE FINANCIAL STATEMENTS OUR TEAMMEMBER

SERVICES

2015 AUDITED FINANCIAL STATEMENTSMessage from Andrea Mills (RM, B.Comm.) - Chair, Finance & Audit Committee

2015 AUDITED FINANCIAL STATEMENTS

April 4, 2016

It is my pleasure to submit the Annual Financial Report for the AOM Benefits Trust. As reported in previous years, financial oversight for the Trust is the responsibility of AOMBT Trustees as part of their overall fiduciary responsibilities. The AOMBT Finance & Audit Committee maintains responsibility for initial review of financial reporting and budgets, the creation and monitoring of internal controls and accountability policies in addition to the annual audits and investment management. The 2015 audited financial statements were presented and approved by Trustees on April 1, 2016 and I am pleased to report that the AOM Benefits Trust continues to be in a sound financial position. In 2015, the AOM Benefits Trust managed $10,867,843 in benefits funding on behalf of midwife plan members, an increase of 9% over 2014. At year end, the Benefits Trust is reporting an excess of revenues over expenses from General Fund operations of $117,465.

AOMBT 2015 Audit – The 2015 audit was undertaken for the second year by Clarke Henning, a longstanding Ontario-based accounting firm with a focus on the non-profit industry. The AOMBT audit was jointly led by Clarke Henning’s partners, Vinay Raja, CPA, CA and Liana Bell, CPA, CA. No recommendations were made or significant matters reported as a result of this year’s audit.

We are continually seeking ways to introduce process improvement and streamline efficiencies at the AOM Benefits Trust and deliver on our vision of achieving security, health and wellness for the midwifery community.

It has been a privilege to work with AOMBT management and other Trustees at the AOM Benefits Trust and I would like to thank them for sharing their knowledge and wisdom in administering this important program in support of the Midwifery profession.

Sincerely,

Andrea Mills, RM, B. Comm.Finance & Audit Committee ChairAOM Benefits Trust

6BENEFITS

ADMINISTRATION GOVERNANCE INNOVATION & GROWTH OUR TEAMMEMBER

SERVICES

OUR TEAMTrustees 2015

Karin Terpstra, RM - Trust Chair, Elected TrusteeCurrently on leave from practice

Kelly Gascoigne, RM - Vice-Chair of the Trust, Chair of the Member Services Committee, Elected TrusteeCommunity Midwives of Brantford

Debbie Doiron, RM - Chair of the Governance Committee, Elected TrusteeNew Life Midwives

Andrea Mills, RM - Chair of the Finance & Audit Committee, Elected TrusteeBarrie Midwives

Nicole Roach, RM - AOM Board-appointed TrusteeSt. Jacobs Midwives

Otis Kryzanauskas, RM - Elected TrusteeCommunity Midwives of Hamilton

Melinda Soares, RM - Elected TrusteeSages-Femmes Rouge Valley Midwives

Kelly Stadelbauer, RN, BScN, MBA - Executive DirectorAssociation of Ontario Midwives

Current Trustees

OUR TEAM

7BENEFITS

ADMINISTRATION GOVERNANCE INNOVATION & GROWTH

FINANCIAL STATEMENTS

MEMBER SERVICES

Current StaffNicole MellinDirector

Janice FullerSenior Manager, Operations

Kelly LongManager, Benefit Solutions

Chona LaysonSenior Benefits Administrator

Allison JackCommunications Officer

Jason GemmillSenior Administrative Assistant

Fey KakaroukasAdministrator, Plan Member Services

Lisa RoweBenefits Coordinator

Rashna AntiaFinance Coordinator

365 Bloor Street East, Suite 800Toronto, ON M4W 3L4

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416.921.6556

416.425.99741.866.418.3773

midwivesbenefits.ca

@midwifebenefits

info@midwivesbenefits.ca