From the SPCA's web site:

STRATEGIC PLANNING – We celebrated the achievement of the first consolidated, audited financial statements in 109 years this past fall (fiscal 2003), but we didn’t celebrate the results – an almost $5 million deficit. The Board pushed for a balanced budget for 2004. Branches and departments did extremely well, holding expenses to budgeted levels. Unfortunately, revenues missed targets by about $1 million – primarily at the local level. What that meant is that we started off 2005 with a cash deficit of about $700K. When the Board was presented with the draft 2005 budget, it was immediately apparent that it was not a workable budget – we are still traveling in the wrong direction, financially. The Board tasked the Strategic Planning committee with the job of reassessing the priorities of the Society and further, aligning those priorities with the 2005 budget. While we would have preferred that this process was more consultative and inclusive, given our dire cash flow situation, we had to take decisive action. Immediate cash flow relief was sought and some tough decisions were taken. Now the Committee is looking further into the future and drafting the 3 to 5 year plan. It is obvious to everyone in the Society that we must start investing in our people (staff and volunteers), our facilities, our programs, and initiatives like the Spay and Neuter Clinic. We can’t even begin to think about those initiatives without re-building our reserves. So…we need the support of all our staff and volunteers to watch costs AND increase revenues. We can’t do it without you. We intend to share the Strategic Plan process and results with members at the Society’s AGM. The final results will be a dynamic roadmap, the ongoing development of which, we will be looking for feedback from all stakeholders.