2024 RCDSO Annual Report

2024

Progress ANNUAL REPORT with Purpose

Table of Contents

2 4 6 8 10 12 14 18 20 22 24 26

ABOUT US MESSAGE FROM THE REGISTRAR & CEO MESSAGE FROM THE PRESIDENT DEMOGRAPHIC SNAPSHOT REGISTRATION QUALITY ASSURANCE ENGAGEMENT

ABOUT US

RCDSO 2024 ANNUAL REPORT

Our Mission.

The Royal College of Dental Surgeons of Ontario (RCDSO) regulates the practice of dentistry in Ontario. We assure the public’s access to safe, high-quality dental services by providing leadership to the dental profession.

The RCDSO is responsible for: • Setting the education and other qualifications necessary to become a registered professional.

• Developing professional and ethical standards and guidelines.

• Holding registered health professionals accountable for their conduct and practice through a complaints and investigation process.

GOVERNANCE

INVESTIGATIONS PROFESSIONAL LIABILITY PROGRAM LOOKING AHEAD

FINANCIAL STATEMENTS

2023-2025 STRATEGIC PLAN Scan or click to learn more

Values

Financial Statements Scan or click to learn more

ACCOUNTABLE Financial Summary Scan or click to learn more

COLLABORATIVE

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PROGRESS WITH PURPOSE

WE LICENSE DENTISTS

WE INVESTIGATE COMPLAINTS

We ensure only qualified, competent, and ethical individuals are licensed to practise dentistry in Ontario.

We respond to concerns about dentists’ conduct or care through a fair and transparent complaints process.

WE GOVERN RESPONSIBLY We work with our Council to ensure transparent decisionmaking and uphold the principles of equity, diversity, and inclusion in all aspects of regulation.

Our Role in Dental Care

WE ENSURE QUALITY We promote continuous improvement in dental care through quality assurance programs and practice assessments.

WE OFFER GUIDANCE We support dentists with clear standards, resources and advice from our Practice Advisory team to help them deliver safe, ethical and high-quality care.

Our Committees Scan or click to learn more

INNOVATIVE

INCLUSIVE

TRANSPARENT

MESSAGE FROM THE REGISTRAR & CEO

“

Looking ahead, we will keep building strong relationships with our partners and focus on making our processes more responsive, transparent and efficient.

RCDSO 2024 ANNUAL REPORT

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PROGRESS WITH PURPOSE

Leading with Purpose Our 2024 annual report tells the story of meaningful progress in the face of a changing and evolving regulatory environment.

We modernized our governance practices; deepened engagement with dentists and the public; and strengthened collaboration with system partners to advance oral health care in Ontario. These achievements, which will be outlined later in this report, reflect the College’s commitment to the priorities outlined in our 2023–2025 Strategic Plan.

We are closely monitoring shifts in practice models, including the growth of corporate dentistry and direct-to-consumer dentistry, as well as the increased use of artificial intelligence in clinical decision-making.

The launch of the Canadian Dental Care Plan (CDCP) represented a historic shift in access to oral health care. We engaged directly with federal and provincial partners to help ensure integration between the CDCP and existing provincial programs. The College also developed resources to help patients and dentists understand the Plan and its implications.

We also provided continuing education opportunities to hundreds of registrants through our RCDSO Connect webinars, with sessions focused on antimicrobial stewardship, cybersecurity, the Non-Insured Health Benefits Program and more. We hosted a booth at the Ontario Dental Association’s Annual Spring Meeting, and an in-person RCDSO Connect event in London, Ontario. These events provided valuable opportunities to connect with dentists and students.

We further demonstrated our commitment to inclusive, patient-centered care by welcoming Rainbow Health Ontario and Special Olympics Ontario as new continuing education sponsors.

Looking ahead, we will keep building strong relationships with our partners and focus on making our processes more responsive, transparent and efficient.

As the College advanced the transfer of the Professional Liability Program (PLP) to a third party, our focus was to ensure continuity and stability for both patients and dentists. The feedback we received from dentists has been instrumental in shaping our approach to divestment, ensuring that the future model reflects their priorities.

Thank you to our Council, staff, registrants and partners for their dedication and collaboration.

Throughout the year, we invited input from dentists, the public and system partners through public consultations. These consultations are essential; the feedback collected helps us develop or update standards of practice and other resources, ensuring they reflect evolving patient needs and are grounded in the realities of clinical practice.

Together, we are making real progress ‒ with purpose.

Daniel Faulkner Registrar & CEO Royal College of Dental Surgeons of Ontario

MESSAGE FROM THE PRESIDENT

“

Building on the progress we have made, Council remains committed to a decision-making approach that is fair, inclusive and responsive to the changing needs of the public and the profession.

RCDSO 2024 ANNUAL REPORT

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PROGRESS WITH PURPOSE

Governance in Action In 2024, RCDSO Council took deliberate steps to strengthen how we govern, bringing sharper focus to strategy and reaffirming our commitment to diversity and accountability.

We began exploring reforms to our electoral model to support a more inclusive, competency-based approach to leadership.

Equity, diversity, inclusion, and accessibility (EDIA) remain central to our work. Council approved a formal EDIA statement to anchor our purpose and guide our actions across all areas of regulation, from registration and quality assurance to complaints and discipline.

These efforts are grounded in the belief that a focus on good governance and EDIA ensure that our regulatory system is fair, responsive and reflective of the communities we serve. We remain guided by one principle: acting in the public’s interest.

Our commitment to progress included a focus on modernizing the College’s standards of practice. In response to consistent feedback from dentists, we recognized the need for standards that are current, evidenceinformed, and more user-friendly.

Throughout the year, Council played a central role in shaping the direction of future updates to standards, providing strategic guidance and insight. This foundational work is essential to ensuring that the

College’s standards continue to support safe, effective and highquality care across the profession.

Council also advanced the divestment of the Professional Liability Program, with thoughtful oversight from the Procurement Review Group, comprised of dentists and public representatives. We will continue to ensure the divestment process is clear, reduces risk to the College, and that the profession has access to accurate, helpful information every step of the way.

Building on the progress we have made, Council remains committed to a decision-making approach that is fair, inclusive and responsive to the changing needs of the public and the profession.

I extend my gratitude to our Registrar & CEO Dan Faulkner, our dedicated staff, and fellow Council members for their unwavering commitment to advancing our shared mission.

Dr. Harinder Sandhu President of Council Royal College of Dental Surgeons of Ontario

DEMOGRAPHIC SNAPSHOT

RCDSO 2024 ANNUAL REPORT

The Professio

11,313

Dentists on register

54% Male

46% Female

*While the registration and annual renewal questionnaires include an option for registrants to identify as ‘Other’, no registrants selected this option.

Age of registrants

<30

545

3,070 30-39

40-49 60-69

2,819

1,725

2,520 50-59

80+

572

62

70-79

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PROGRESS WITH PURPOSE

on at a Glance 918 Applicants

Original Dental Education Top 3 Countries USA 61

Canada 300

3 5

International 541

2

1 4

International Dental Education Top 5 Countries

1

India

240

2

Iran

61

3

USA

61

4

Australia

40

5

Egypt

28

REGISTRATION

RCDSO 2024 ANNUAL REPORT

Ensuring Competence and Integrity The College ensures that only qualified and competent individuals are authorized to practise dentistry in Ontario. Applicants must meet not only the required educational standards but also the legal requirements outlined in provincial legislation. Our registration processes are guided by the principles of fairness and accountability.

918 769

General certificate

Total applicants

116

Specialty certificate

33

Other certificate

4.7 business days

Average number of days from when an application is received to when it’s assessed

2.1 business days

Average number of days from completed application to approval

10-11

PROGRESS WITH PURPOSE

RISK ASSESSMENT FRAMEWORK AND TOOL RCDSO developed a standardized regulatory Risk Assessment Framework and Tool to be used across all program areas. By clearly outlining how decisions are guided by risk and made in the public interest, the framework supports fair registration outcomes for applicants.

Starting in 2025, the Registration Committee will apply this tool to all registration decisions.

HEALTH PROFESSION CORPORATIONS To operate legally, a Health Profession Corporation must obtain and maintain a certificate of authorization from the College, ensuring regulatory compliance and professional accountability within a corporate structure.

In 2024, the College continued to support the profession by efficiently processing a high volume of applications related to Health Profession Corporations.

HPC 963 New applications 8,849 Total HPCs

QUALITY ASSURANCE

RCDSO 2024 ANNUAL REPORT

Supporting Quality Care Through Continued Competence RCDSO’s Quality Assurance (QA) Program helps ensure the ongoing professional competence of dentists practicing in Ontario. The program includes three core components:

Continuing Education (CE)

Practice Enhancement Tool (PET)

Jurisprudence & Ethics Course

The program supports the College’s broader commitment to quality care by advancing standards of practice and contributing to strategic priorities such as improving access to care and promoting equity, diversity, inclusion and accessibility (EDIA).

We believe that developing and sustaining cultural competency is essential to providing patient-centered care. In 2024, the College approved two new organizations as CE sponsors. These organizations offer learning opportunities to help dentists understand cultural context, with a focus on supporting patients with disabilities and diverse sexual identities to increase patient access to safe, accessible and inclusive oral health care.

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PROGRESS WITH PURPOSE

11,315

ANNUAL DECLARATION OF COMPLIANCE 99.6% in compliance

6,737

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CE AUDITS

PET ASSESSMENTS

93.5% met the requirements/had a minor shortfall

100% passed on the first attempt

QA by the numbers

2 NEW APPROVED CE SPONSORS Special Olympics Ontario Expands the opportunities for dentists to better support patients living with disabilities Rainbow Health Ontario Helps healthcare providers to better serve 2SLGBTQ communities

EDUCATIONAL PRESENTATIONS 35 presentations to dentists and students 2746 attendees • Dental Recordkeeping • Infection Prevention And Control (IPAC) • Oral surgery and implants • PLP informative sessions • Communication breakdown • Patient safety incidents and adverse events

ENGAGEMENT

RCDSO 2024 ANNUAL REPORT

Listening and Collaborating Listening In 2024, the College deepened its commitment to meaningful engagement by inviting input from registrants, the public and system partners on key regulatory initiatives. Public consultations informed the development of three standards of practice, a guideline, a practice advisory and other resources, ensuring they reflect evolving patient needs, clinical realities and professional responsibilities.

Through our RCDSO Connect webinar series and presence at professional events across Ontario, we created more opportunities for dentists to stay informed, earn continuing education (CE) points, and contribute to the future of the profession.

These touchpoints strengthen our role as a modern regulator; one that listens, learns, and leads with transparency and collaboration.

As a modern regulator, we lead with transparency, listen with intent, and learn through collaboration.

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PROGRESS WITH PURPOSE

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PUBLIC CONSULTATIONS ¨ Access to Care: Accepting New Patients Foundations of Professionalism ¨ Practice Models and Corporate Dentistry ¨ Artificial Intelligence (AI) in Dentistry ¨ Educational Requirements and Professional Responsibilities for Implant Dentistry

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RCDSO CONNECT WEBINARS

Connecting with 2,000+ dentists on a range of topics: ¨ Malpractice protection and investigations and complaints ¨ Continuing education, e-Portfolio enhancements, and new opportunities to earn CE points ¨ New! In-person event at Western University (London) 100+ attendees – Opportunity to strengthen ties with registrants across Ontario ¨ Cybersecurity, non-Council committee application process ¨ Moving the needle on dental antibiotic overuse – a sustainable Canadian antimicrobial stewardship approach AND Taking a Bite out of Tooth Pain: A Toolkit for Using Antibiotics Wisely (from Choosing Wisely).

¨ Maintaining a Professional PatientDentist Relationship ¨ Prevention of Boundary Violations and Sexual Abuse ¨ Consent to Treatment ¨ By-law amendments for operational improvements in the election process

ONTARIO DENTAL ASSOCIATION ANNUAL SPRING MEETING

400+ visitors

ENGAGEMENT

RCDSO 2024 ANNUAL REPORT

Collaborating Partnerships continue to play a vital role in advancing our strategic goals. In 2024, the College worked with system partners to improve access to care, enhance regulatory practices and support the dental profession.

ONTARIO DENTAL ASSOCIATION Advanced key initiatives focused on improvements to the Canadian Dental Care Plan, access to care, and jointly developed frameworks to support emergency class registrants.

Through coordinated efforts with key system partners, RCDSO pursued the following initiatives:

ONTARIO’S CHIEF MEDICAL OFFICER OF HEALTH Participation at a regulatory table to review and implement IPAC standards across health care environments.

ONTARIO DENTAL FACULTIES: WESTE UNIVERSITY AND UNIVERSITY OF TORONTO

Developed groupbased remedial course opportunities to enhance student competencies and support academic success.

PROGRESS WITH PURPOSE

WESTERN’S SCHULICH SCHOOL OF MEDICINE & DENTISTRY Explored funding sources to support a project focused on: Utilizing internationally trained dentists in supervised roles Expanding care in underserved communities Supporting dental practices with staffing challenges

ERN

s

ALLIANCE FOR HEALTHIER COMMUNITIES CONFERENCE Shared educational resources on access to care.

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GOVERNANCE

RCDSO 2024 ANNUAL REPORT

Strengthening Governance, Advancing Equity In 2024, we continued to advance our governance modernization efforts, purposefully aligning our structures and practices to support a more effective and fair regulatory system.

Council discussions have shifted toward more strategic, public-interest-focused dialogue to ensure that decision-making remains aligned with our mandate to protect the public.

ENHANCING COMMITTEE EXPERTISE The Discipline Committee has seen an unprecedented increase in referrals. To manage a growing caseload and support fair, effective decision-making, Council approved the appointment of Subject Matter Experts (SMEs) to the Discipline and Fitness to Practise committees. They will support the committee by chairing panels, drafting panel decisions, and supporting training and orientation.

OUR COMMITMENT TO EQUITY, DIVERSITY, INCLUSION, AND ACCESSIBILITY (EDIA) Equity, Diversity, Inclusion and Accessibility (EDIA) is essential to ensuring safe, equitable, and competent oral health care. We integrate EDIA principles across all areas of our work, including registration, education and professional standards.

Council approved a formal statement to anchor our purpose and reinforce our responsibility to address systemic barriers and promote meaningful change.

ADDRESSING BIAS IN COMMITTEE DECISIONS The College has implemented safeguards to support fair and impartial decisions by the Inquiries, Complaints and Reports Committee, the Fitness to Practice Committee and the Discipline Committee.

This includes ongoing education, discussions and clear processes to help committee members recognize and mitigate potential bias. Learn more

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PROGRESS WITH PURPOSE

ELECTORAL DISTRICT REFORM The Governance Committee explored updates to the current electoral framework to support a more competency-based and inclusive approach to candidate selection.

CURRENT STRUCTURE:

PROPOSED UPDATE:

Multiple electoral districts

Single district provincewide election model

Elections every 2 years 12 Council members

◇ Diversity of candidates

Staggered terms ◇ To preserve institutional knowledge and improve stability

Reduce the size of Council from 12 to 10 elected dentists ◇ Effective decision-making and close to parity of professional to public members

INVESTIGATIONS

RCDSO 2024 ANNUAL REPORT

Streamlining Investigations and E In 2024, we focused on reducing investigation backlogs and improving the efficiency, accessibility, and responsiveness of our complaints and inquiry processes.

ENHANCED PUBLIC ACCESS TO COMPLAINTS PROCESS We introduced changes to our online complaints form, offering the public more flexibility and choice in how they report concerns. This userfocused update supported greater accessibility and transparency.

Complaints received

635

ONGOING COMMITMENT TO EFFICIENCY Our efforts in 2023 laid the groundwork for continued improvements in 2024. By refining workflows and leveraging feedback, we reduced investigation timelines and enhanced the overall experience for the public and stakeholders.

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PROGRESS WITH PURPOSE

Enhancing Public Access Transparent, Fair and Timely Decisions This year, the Inquiries, Complaints and Reports Committee (ICRC) referred a significant number of matters to the Discipline Committee, reflecting its commitment to accountability and regulatory excellence.

Both the ICRC and the Discipline Committee have taken meaningful steps to enhance their processes, focusing on timely decisionmaking, procedural fairness, and clear communication with all parties involved. As part of these efforts, we added subject-matter experts to ICRC panels to ensure decisions are informed by specialized knowledge and experience. These improvements are part of our ongoing efforts to strengthen public trust and ensure that decisions are made with integrity and in accordance with the highest standards of regulatory practice.

Investigations referred to Discipline Committee Hearings held Decisions Decisions issued

40 6 685

Decisions appealed by complainants or registrants

57

Decisions upheld by the Health Professions Appeal and Review Board

56

PROFESSIONAL LIABILITY PROGRAM

RCDSO 2024 ANNUAL REPORT

Navigating Change, Maintaining Protection DIVESTMENT PROCESS As the College advances the transfer of the Professional Liability Program (PLP) to a third party, our priority remains ensuring continuity and stability for both patients and dentists. At registration, dentists’ PLP coverage continued through 2025.

At the end of 2023, as part of the divestment exploration process, we distributed a comprehensive survey to all registrants to better understand their perspectives on the elements of PLP and identify the aspects they value most. The survey findings are available here.

In 2024, we engaged PricewaterhouseCoopers (PwC) as the College’s financial advisor to support and guide the competitive divestiture process.

PwC is responsible for developing the divestiture strategy, managing bid submissions, and leading negotiations and the selection process.

PLP PROTECTION EXTENDS BEYOND ONTARIO PLP protection was extended to dentists licenced in Ontario who also seek licensure in another Canadian province or territory, provided the regulator accepts PLP protection.

INCIDENTS PLP opened 1,860 new files in response to potential or actual demands for compensation. These matters fall into four main categories:

434 397 Precautionary Release matters

matters

957 72 Threatened Legal litigation

actions

No formal demand for compensation; precautionary advice provided to dentist

Dentists refund patients or cover re-treatment costs

Demand for compensation actively involving PLP staff

Lawsuit initiated by patients/lawyers at Ontario Courts

PROGRESS WITH PURPOSE

22-23

Our priority remains ensuring continuity and stability for both patients and dentists.

LOOKING AHEAD

Looking ahead The RCDSO is building on the strong foundation laid in 2024— streamlining investigations and licensure, enhancing public and registrant access to information and resources, and improving responsiveness. These and other initiatives reflect our ongoing commitment to regulatory excellence and public trust.

We are embracing innovation in the AI age, modernizing our policies and systems, and deepening engagement with the public and the profession.

Our focus remains clear: to be a responsive, transparent, and forward-thinking regulator.

With the continued commitment of our staff, Council, and system partners, the College is wellequipped to proactively address emerging issues. Together, we are advancing a regulatory approach that prioritizes accountability, effective collaboration and a commitment to quality.

RCDSO 2024 ANNUAL REPORT

24-25

PROGRESS WITH PURPOSE

The People Behind the Mission EXECUTIVE COMMITTEE Dr. Harinder Sandhu, President

APPOINTED BY LIEUTENANT GOVERNOR IN COUNCIL

Marc Trudell, Vice-President

David Bishop

Dr. Nalin Bhargava

Ram Chopra

David Bishop

James Colliver

Brian Smith

Cristina Cordeiro

Dr. Erin Walker

Eleonora Fisher Vivian Hu Nizar Ladak

ELECTED REPRESENTATIVES

Brian Smith

Dr. Nalin Bhargava

District 1

Dr. Robyn Somerville

District 2

Dr. Peter Delean

District 3

Dr. Mark Eckler

District 4

Dr. Nancy Di Santo

District 5

Dr. Harinder Sandhu

District 6

ACADEMIC APPOINTMENTS

Dr. Erin Walker

District 7

Dr. Daniel Haas

Dr. Osama Soliman

District 8

Dr. Noha Gomaa

Dr. Antony Liscio

District 9

Dr. Deborah Wilson

District 10

Dr. Amelia Chan

District 11

Dr. Anthony Mair

District 12

Roderick Stableforth Marc Trudell Judith Welikovitch

NON-COUNCIL COMMITTEE MEMBERS Dr. Jocelyne Abi-Nahed

Dr. Ousama Damlaj

Dr. Victor Kutcher

Dr. Mehran Shahabi

Dr. Gajender Ahlawat

Dr. Malgosia DeAngelis

Dr. Virginia Luks

Dr. Neil Silver

Dr. Lucia Ambrochi

Dr. Priscilla de Araujo

Dr. Amro Mahder Bashi

Dr. Susan Sutherland

Dr. Harpaul Anand

Dr. Peter Derham

Dr. Laura Minea

Dr. Andre Theoret

Dr. Paul Azzopardi

Dr. Irwin Golosky

Dr. Anita Moosani

Dr. Vanessa Theriault

Dr. Ian Brockhouse

Dr. Nicole Greenwood

Dr. Neil Moss

Dr. Kate Towarnicki

Dr. Rajiv Butany

Dr. Eilyad Honarparvar

Dr. Ramona Motakef

Dr. Jennifer Tse

Dr. Vincent Carere

Dr. Gehan Ibrahim

Dr. Maryam Pezeshki

Dr. Mingyang Xie

Dr. Alexis Clark

Dr. Boris Jelusic

Dr. Jay Rabinovich

Dr. Mae Daemi

Dr. Gajanan Kulkarni

Dr. Arnold Reich

FINANCIAL STATEMENTS

RCDSO 2024 ANNUAL REPORT

Independent Auditor’s Report On Summary Financial Statements

INDEPENDENT AUDITOR'S REPORT ON SUMMARY FINANCIAL STATEMENTS

s of f Dental Surgeons of Ontario

To the Members of Royal College of Dental Surgeons of Ontario nancial statements, which comprise the summary statement of financial position as at December 31, 2024, atement of operations for the year then ended, and the related note, are derived from the audited financial OPINION THE AUDITED FINANCIAL he Royal College of Dental Surgeons of Ontario for the year ended December 31, 2024.

STATEMENTS AND OUR The summary financial statements, which comprise the summary statement THEREON the accompanying summary financial statements are a fair summaryREPORT of the audited financial statements on of financial position as at December bed in the note to the summary financial statement.

We expressed an unmodified audit opinion 31, 2024, the summary statement of on the audited financial statements in our operations for the year then ended, and cial Statements report dated June 19, 2025. the related note, are derived from the auditeddofinancial statements of the Royal financial statements not contain all the disclosures required by Canadian accounting standards for MANAGEMENT’S RESPONSIBILITY College of Dental Surgeons of Ontario ganizations. Reading the summary financial statements andfor the auditor’s report thereon, therefore, is not a FOR The THE SUMMARY the year ended December 31, 2024. eading the audited financial statements and the auditor’s report thereon. summary financialFINANCIAL statements STATEMENTS financial statements do not reflect effects of events that occurred subsequent to the date of our report In our opinion, the the accompanying inancial statements. summary financial statements are a Management is responsible for the fair summary of the audited financial preparation of the summary financial ancial Statements and Our Report statements on theThereon basis described in the statements on the basis described in the note to the summary financial statement. note to the summary financial statements. n unmodified audit opinion on the audited financial statements in our report dated June 19, 2025.

SUMMARY FINANCIAL STATEMENTS

Responsibility for the Summary Financial Statements

AUDITOR’S RESPONSIBILITY

Our responsibility is to express an opinion whether the summary financial The summary financial statements do responsible for the preparation of the summary financial statements on on the basis described in the note to the statements are a fair summary of the not contain all the disclosures required ial statements. audited financial statements based on

by Canadian accounting standards for our procedures, which were conducted not-for-profit organizations. Reading nsibility in accordance with Canadian Auditing the summary financial statements and Standard 810, Engagements the auditor’s report thereon, therefore, is ty is to express an opinion on whether the summary financial statements are a(CAS) fair summary of the auditedto Report on Summary Financial Statements. not a substitute for reading the audited ents based on our procedures, which were conducted in accordance with Canadian Auditing Standard (CAS) financial statements and the auditor’s nts to Report on Summary Financial Statements. report thereon. The summary financial statements and the audited financial statements do not reflect the effects of events that occurred subsequent to ario the date of our report on the audited LicensedPublic Public Accountants Licensed Accountants financial statements.

Toronto, Ontario June 19, 2025

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PROGRESS WITH PURPOSE

Royal College of Dental Surgeons of Ontario

Summary Statement of Financial Position 2024

2023

$ 19,949,368

$ 15,227,098

Short term investments

4,168,613

7,816,809

Accounts receivable

899,261

713,024

Prepaid expenses

1,049,016

815,924

26,066,258

24,572,855

69,914,289

60,055,368

9,133,120

9,748,206

-

61,400

$ 105,113,667

$ 94,437,829

Accounts payable and accrued liabilities

$ 2,693,229

$ 2,343,724

Deferred revenue

37,698,587

35,454,146

40,391,816

37,797,870

Accrued claims liability

24,773,967

25,260,325

Post-retirement benefit plan liability

3,955,300

3,935,700

52,600

143,200

69,173,683

67,137,095

Internally restricted

26,043,396

24,043,396

Unrestricted

9,896,588

3,257,338

35,939,984

27,300,734

$ 105,113,667

$ 94,437,829

As at December 31 Assets Cash

Long term investments Capital assets Pension plan asset

Liabilities

Pension plan liability

Net assets

Click here to review the complete independent auditor’s report

FINANCIAL STATEMENTS

RCDSO 2024 ANNUAL REPORT

Royal College of Dental Surgeons of Ontario

Summary Statement of Operations 2024

2023

$ 39,687,349

$ 37,475,204

4,388,378

3,553,801

Professional liability program recoveries

306,060

225,539

Professional conduct recoveries

297,850

564,855

Other income

292,849

214,479

44,972,486

42,033,878

21,124,489

19,284,126

Professional liability program provision

4,311,236

7,404,741

Consulting and professional fees

2,694,458

2,413,179

Telecommunications and technology

2,090,253

1,956,428

Amortization and write offs of capital assets

1,682,914

1,702,992

Administration

1,364,478

1,496,543

Council and committees

971,208

1,245,144

Insurance and brokerage

704,012

675,240

Faculty payments and fees

567,201

489,778

Operations and facilities

526,687

551,857

36,036,936

37,220,028

$ 8,935,550

$ 4,813,850

Year ended December 31 Revenue Registration and annual fees Investment income

Expenses Staffing costs

Excess of revenue over expenses for the year

Click here to review the complete independent auditor’s report

PROGRESS WITH PURPOSE

Notes To The Summary Financial Statements The preparation of these summary financial statements requires management to determine the information that needs to be included to ensure they are consistent in all material respects with, or represent a fair summary of, the audited financial statements.

Management prepared these summary financial statements using the following criteria: a. The summary financial statements include a statement for each statement in the audited financial statements, except the statement of changes in net assets and statement of cash flows, which can be obtained from the complete set of audited financial statements; b. The information in the summary financial statements is in agreement with the related information in the audited financial statements; c. Major subtotals, totals and comparative information from the audited financial statements are included; and d. The summary financial statements contain the information necessary to avoid distorting or obscuring matters disclosed in the related audited financial statements, including the notes thereto.

The audited financial statements may be obtained from the Royal College of Dental Surgeons of Ontario at www.rcdso.org

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6 Crescent Road Toronto, ON M4W 1T1 T: 416-961-6555 F: 416-961-5814 Toll Free: 1-800-565-4591

www.rcdso.org