TREASURERS REPORT

FINANCIAL YEAR ENDING 30 JUNE 2018

 

I am pleased to report that as at 30 June we remain in a strong financial position.  All accounts are paid to date and we have no known unscheduled major liabilities.

The financial statements for the year have being audited and are detailed below.

At the 20187 AGM we identified the risk of overreliance on sponsorships and resolved to increase membership fees and some cost savings measures.

With these measures and all our major sponsors (the Tradies, ACTEW, Drummonds and Gungalin Lakes) on board we had a financially successful year with our balance sheet improving by $4,200.

The LendLease day at Gungahlin came with a net $500 donation to the Association.

The raffle (with a BBQ donated by ACTEWAGL) was again popular raising $716.

The introduction of Direct Debits for renewals was very popular with nearly $3000 collected in May and June, a much earlier collection rate than usual.

Our net financial position at 30 June is assets of $57,639.47.   This is represented by liquid assets $56,379.47) stock and equipment ($1,600.00) less unredeemed prize vouchers and unpresented cheques ($350).

Sponsorships have been running in excess of $6,000 pa for the last 5 years (except for 2016/17) and make up 25% of our revenue base.  While we hope that this will continue, we acknowledge that the sponsorship pool is getting tighter year by year. 

I am pleased to announce that for 2018-18, the Tradies have renewed their sponsorship ($3,500 in total) and ACTEWAGL will again donate $500 and a BBQ.

We are indebted to our sponsors (the Tradies, Gungahlin Lakes, ACTEWAGL and Drummond Golf).  It is due to their continuing support that we are able to keep costs to members as low as possible.

 

Alan Chrisp

Treasurer

STATEMENT OF RECEIPTS AND PAYMENTS AS AT 30 JUNE 2018

RECEIPTS

       

 

SUBSCRIPTIONS

$5,593.00

 

COMP FEES

     

$13,641.00

 

INTEREST

     

$1,042.35

 

SPONSORSHIP

$5,150.00

 

SUNDRIES

     

$716.00

 

TOTAL REVENUE

$26,142.35

 

         

 

EXPENDITURE

 

 

COMPETITION AND MEMBERS EXPENSES

       

 

Prize vouchers, badges & trophies

   

$7,453.22

 

 

Drummond, Tradies and Gungahlin Vouchers

 

 

$2,841.70

 

 

Federal and Royal Green Fees

   

$2,495.00

 

 

AGM & Chooks Day lunches

   

$1,875.00

 

 

Christmas chickens and puddings

   

$1,466.25

$16,131.17

 

         

 

ADMINISTRATIVE EXPENSES

       

 

Printing, postage and admin

   

$896.41

 

 

Web Page and Golf Link

   

$730.00

 

 

AVGU and NSWVGU

   

$833.50

 

 

Equipment purchases

   

$67.21

 

 

Insurance

   

$1,494.93

 

 

Committee expenses

   

$982.40

$5,004.45

 

TOTAL OUTLAYS

     

$21,135.62

 

 

 

 

 

 

 

 

 

BALANCE SHEET AS AT 30/6/2018

 

SHARE CAPITAL (Beyond Bank}

$10.00

 

LIQUID ASSETS

 

Working Accounts

$25,356.78

 

 

Term Deposits

$30,771.99

 

 

Cash (Float, petty cash)

$250.70

$56,379.47

 

STOCK ON HAND

 

Woolworths Vouchers

$900.00

 

 

Golf balls

$300.00

 

 

Gungahlin Lakes Vouchers

$400.00

 $1,600.00

 

Prize vouchers not yet presented

 

-$350.00

 

NET POSITION

 

$57,639.47