TREASURERS REPORT 

FINANCIAL YEAR ENDING 30 JUNE 2020

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 been audited and are detailed below.

The financial year resulted in an operating loss of $29. Our net financial position

at 30 June is assets of $58,703. This is represented by liquid assets ($57,957)

and stock and equipment ($1,596) less unredeemed prize vouchers.

 

The introduction of Direct Debits for new members and renewals has been very

popular and has provided an easy way for members to stay financial.

At the 2017 AGM we identified the risk of overreliance on sponsorships. Our

major sponsors (the Tradies, Gungahlin Lakes and ACTEWAGL) have struggled

with the COVID situation and this will be an issue for us going forward.

Unfortunately ACTEWAGL have completely withdrawn their sponsorship leaving

a reduction in revenue of $1,000. Consequently, we did not have a major raffle

prize so the raffle did not go ahead this year.

 

The search for new sponsors is continuing as well as discussions with the

Tradies and Gungahlin Lakes. Suggestions from members would be welcome.

Joe Gunning

Treasurer