2009/2010 IFA Annual Report - Institute of Foresters of Australia

Institute of Foresters 

of Australia 

2009/10 Annual Report

IFA Board of Directors 2009/10 

Peter Volker Keith Jennings Richard Shoobridge Phil Pritchard 

IFA President 

Adrian Goodwin Mike Ryan 

The Institute of Foresters 

of Australia 

ABN: 48 083 197 586 

President 

Dr Peter Volker, Tas. 

Chief Executive Officer/Company 

Secretary 

Cassandra Spencer 

Members Services Officer 

Anne Katalinic 

Cover photos 

Zoe Ryan Lew Parsons Nick Cameron David Wettenhall 

Board of Directors 

Keith Jennings, Qld 

Nick Cameron, NSW 

Philip Pritchard, ACT 

Mike Ryan, Vic 

Zoe Ryan, Vic 

Lew Parsons, SA 

David Wettenhall, WA 

Richard Shoobridge, Tas 

Adrian Goodwin, NSW 

The photos used on the cover and throughout this report are of IFA members, taken by IFA 

members at various events around the country during 2009/10. 


Chief Executive Officer 

2 IFA Company Annual Report 2009/10 

Contents 

President's Report 3 

Company Report 4 

RPF Report 6 

Report on Strategic 

Plan 2009/10 7 

Audited Financial 

Statements 13 

(Incorporating Directors’ 

Report, Directors’ 

Declaration, Income 

Statement, Balance Sheet, 

Statement of Changes in 

Equity, Statement of Cash 

Flows, Auditors 

Independence Declaration, 

Independent Audit Report.)

President’s Report 

The past 12 months has been a difficult time for many IFA 

members with the collapse of a number of companies and 

continuing uncertainty about the management of native 

forests. IFA is not immune to these problems and the 

Board has put in place measures to produce a break-even 

budget for the coming year while continuing support for 

members and staying at the forefront of the forestry 

debate throughout the country. 

IFA must continue to serve the needs of members and 

advance the cause of the forestry profession. To this end 

IFA has been involved in providing submissions to a 

number of important Inquiries over the past year. While 

some see this as a rather passive activity, it is vitally 

important to put across our views based on facts and good 

science. If the IFA doesn’t do it, who will? I thank the 

many members who have contributed time and energy to 

making these submissions of the highest quality. I am 

especially proud of our submission to the Victorian 

Bushfire Royal Commission which was deemed worthy for 

publication in Australian Forestry. 

Unfortunately some issues went against us, in particular 

the red gum decisions in Victoria and NSW. However, IFA 

will not give up on such issues and we will continue to 

advocate appropriate forest management even in the face 

of opposition from politicians, bureaucrats and 

Environmental Non-Government Officers. There are also 

disturbing developments in Western Australia in relation to 

public management of native and plantation forests which 

present an immediate threat to our members. 

In my term as President, I have tried to raise the profile of 

IFA domestically and in the international arena. 

Attendance at the World Forestry Congress in Buenos Aires 

was a key element in this. I hosted a meeting of 

professional forestry associations which was well 

supported by representatives from every continent. A 

follow-up event was held at the recent Commonwealth 

Forestry Conference in Edinburgh where IFA again took a 

leading role. 

The Biennial Conference at Caloundra was once again a 

resounding success and congratulations to the organising 

committee from Queensland. Even in difficult economic 

times I was heartened to see the support of members for 

the Conference. Congratulations to Dr Ian Bevege our 

2009 Jolly Medallist who also delivered the Max Jacobs 

Oration at the Conference. 

The Forestry Scholarship Fund has been launched and IFA 

was able to offer the first scholarships for the 2010 

academic year. IFA will continue to promote the Fund for 

the foreseeable future, however it requires much more 

support from the private and public sectors if it is to be a 

success. The future of forestry education is still under a 

cloud and IFA has been working closely with ForestWorks, 

Dr Peter Volker FIFA RPF 

IFA President 

Universities and industry representatives to work through 

the issues. 

Our Executive Director. Adrian O’Loughlin, retired after 

eight years service to IFA. He was instrumental in 

streamlining administrative processes and sound financial 

management. He also ensured that the IFA continued to 

develop its activities and was a great help to me and the 

Board. We were pleased to appoint Cassandra Spencer as 

CEO. Cassandra has been with IFA for some time as 

Member Services Officer and her promotion is a reflection 

of her capabilities and commitment to the future of IFA. I 

also thank Anne Katalinic who has joined our staff. 

The past year also was marked with sadness with the 

death of a number of prominent members. IFA 

appreciates the contribution these people made to the 

profession and I pass on my appreciation and condolences 

to their families. 

This year marks the 75 th year of IFA. We can be proud of 

the achievements of the organisation over that time. In 

particular we have been able to maintain a strong 

membership base, produce a high quality journal in 

Australian Forestry and maintain a forum for 

communication, professional and social interaction. Long 

may it continue. 

Dr Peter Volker 

IFA Company Annual Report 2009/10 3

IFA Company 

Annual Report 

2009/10 

It is a pleasure to present to the members of the Institute of Foresters of Australia the 

Company Annual Report for 2009/10. My journey with the IFA in the capacity of Chief 

Executive Officer commenced midway through the reporting period and I am pleased 

to see the momentum achieved with my predecessor J. Adrian O’Loughlin throughout 

2009 carried forward into 2010. 

Much talk from 2009/10 has centred on politically turbulent times, of financial instability for major companies and job insecurities 

for individuals. Throughout this time the members of the Institute have maintained commitment to the principles that underpin 

this very proud organisation. Those principles include maintaining a high standard of qualification in persons and to promote 

professional standards and ethical practice among those engaged in forestry. 

Our membership continues to reflect the growing trend of the transition from the traditional role of the ‘forester’ to that with an 

environmental/conservation approach. We are seeing how forestry is proving itself to be an important key aspect of terrestrial 

management, utilising the broad scientific principles and methods applied in forest science. What this means is an opening of 

further opportunities for professional foresters. 

Activities of the members is included in the Report against the IFA Strategic Plan (see page 7). Further ongoing commitments that 

have utilised the resources of the National Office are included below. The Institute remains in a stable position financially. The 

audited financial statements are included further in this report and show a profit of $26,294 as compared to the losses of $49,553 

for 2008/09 and $108,687 in 2007/08. Several measures were taken during the year to reduce expenditure so that the Institute 

can remain in a position to support it’s members, however the Board is aware that the Institute must continue to maintain an 

active presence in the forestry arena. 

It has been a vigorously rewarding experience to continue to provide essential logistical support to the Board of Directors and the 

individual members of the Divisions to ensure that the objectives and goals of the Institute are realised. 

Meetings of Board of Directors and IFA Committees 

The IFA Board maintained a busy working schedule 

throughout the year, regularly conducting business via email 

and formally meeting on 6/09/09, 26/11/09, 11/02/10 and 

6/05/10. The Publications Committee, Forest Policy 

Statements Editorial Committee, RPF Registration 

Committee, Forestry Scholarship Fund and Max Jacobs Fund 

all met during the year to consider various proposals, 



Chief Executive Officer 

Australian Forestry Journal Subscriptions 

69 Overseas subscriptions made up of: 

Hard copy subscriptions = 81% 

Online subscriptions = 14% 

Hard copy + online = 5% 


statements, recommendations as required under their 

respective charters. The Institute’s Company Annual General 

Meeting (AGM) was held in Caloundra, Qld on 10 September 

2009 and Divisions and Branches held regular meetings 

throughout the year either as face to face events or by 

teleconference. 

The Chief Executive Officer worked in the following capacities 

throughout the year: 

57 Australian subscriptions made up of: 

Hard copy subscriptions = 65% 

Online subscriptions = 27% 

Hard copy + online = 5%

Institute Company Secretary, IFA Board Secretary, 

Registered Professional Forester Scheme: Project 

Administrator, Publications Committee: Member & 

Secretary, 2009 Conference Organising Committee, Max 

Jacobs Fund Committee: Secretary, Editor ‘The Forester’, 

Secretary Forestry Scholarship Fund Committee and 

Secretary to the Education Sub-Committee. 

Publications 

The Institute is indebted to Colin Matheson, Alan Brown, 

Brian Turner and Ross Florence for continuing production of 

the Australian Forestry Journal. Colin as Managing Editor 

faces issues and challenges in this position and as always 

handles them in his usual professional and friendly manner. 

Brian remains active with the AFJ by overseeing the 

coordination of special issues and arranging Guest Editors. 

Alan Brown has continued in his vital role as Production 

Editor. His contribution over many years has been invaluable 

and is acknowledged through many compliments received 

concerning the high standard of the Journal’s publication. 

Members of the Editorial Panel who must also be thanked 

are: Dr Stuart Davey, Dr Ian Bevege, Dr Humphrey Elliott, Dr 

Grant Wardell-Johnson, Dr John Herbohn, Mr Neil (Curly) 

Humphreys, Mr Jack Bradshaw and Dr Kevin Harding. 

The number of persons on the Australian Forestry Review 

Team are many and are not limited to members of the IFA. 

The March 2010 issue includes a list of those who have 

contributed to the reviews of the papers ensuring the high 

standard of professional papers is maintained. The IFA 

National Office provides ongoing administrative support to 

the Publications team. 

Marketing of the Australian Forestry Journal has seen it hold 

a steady position despite the drop in subscriptions in the 

previous year. The Institute has negotiated with a number 

of organisations both in Australia and overseas to expand it’s 

presence into a wider audience. Agreements have been 

reached with Gale Cengage, Research and Markets and RMIT 

(Royal Melbourne Institute of Tafe) who have been successful 

in promoting the articles from Australian Forestry and are 

included in the income captured in the audited financial 

statements. The process with Thomson’s Reuters approval 

for the Journal’s coverage in the Science Citation Index 

Expanded (SCIE) continues and a decision on the Impact 

factor is expected late 2010. 

The Forester newsletter continues to provide a forum for 

members to showcase the activities that they have been 

involved in through their work and affiliation with other 

organisations. 

Continuing to produce these publications is essential to the 

professional communication amongst members and 

Membership Statistics 

Membership by grade 

Student members = 60 

Associate members = 292 

Voting members = 873 

Fellow members = 71 

Honorary members = 1 

subscribers. 

IFA website and Email distribution lists 

The IFA website remains a source of updated information 

for members. The website is an interactive facility which has 

a ’Bulletin Board’ area allowing members to interact on any 

topic or issue that they wish. The website holds a list of 

contacts for all IFA members so that members can network 

with other forestry professionals from all over the country. 

Australian Forestry articles are available for members and 

subscribers online. The IFA website also hosts one of the 

most comprehensive lists of forestry thesis abstracts (over 

950). A massive project completed in 2009. 

The IFA continues to keep members informed of job 

vacancies around the country via the weekly National Email 

Bulletin and also on the IFA website. This quick and costefficient 

service was consistently used by firms with the 

number of adverts circulated during 2009/10 at approx 55. 

The adverts continued as a regular inclusion in the Bulletin 

given the drop in placements experienced in the previous 

year. 

The IFA can be proud of the outstanding and regular 

communications and services its National Office provides to 

members. 

Awards and Scholarships 

The N.W.Jolly medal was awarded to Dr D. (Ian) Bevege of 

Batemans Bay, NSW. The award is the Institutes highest 

honour and it could not have gone to a more deserving 

recipient. 

2009/10 saw the launch of the Forestry Scholarship Fund 

with two scholarships being issued. Each scholarship had a 

value of $5000. The recipients of the scholarship were Nick 

Rudder and Andrew Egan, both 1st year students at Southern 

Cross University. 

The Committee of the Max Jacobs Fund issued two grants 

during the year. The recipients were Ryan Burrows and Dean 

Severino. The Committee received 10 applications all of 

which were worthy of the grant thus making the decision all 

the more difficult. 

The trustees of the Allan Henderson Fund announced the 

recipient of the professional development award to Belinda 

Field. 

Acknowledgements 

Membership by location 

Queensland = 142 

New South Wales = 283 

Australian Capital Territory = 125 

Victoria = 345 

Tasmania = 126 

South Australia = 87 

Western Australia = 148 

Northern Territory = 6 

Overseas = 35 

The Institute expresses its appreciation to all involved in 

providing assistance and advice to the Board of Directors, 

National Office, and to the Committee members and 

volunteers who peer-reviewed papers for the Australian 

Forestry Journal, compiled submissions, arranged field days, 

attended meetings, addressed students, etc. The list is too 


RPF ® Scheme 

The Registered Professional Forester (RPF®) scheme was 

introduced by the IFA in 2001 as a national scheme for the 

assessment and accreditation of forestry expertise. Suitably 

qualified persons may apply for registration in one of the 

following categories: 

General Practicing Forester (foresters who possess the 

skills required in general field forestry) 

General Practicing Forester with recognized skills 

(foresters who have worked or are still working in 

general forestry and have specialized or streamed into 

specific areas) 

Specialist (persons who are not foresters but have 

achieved a high degree of recognition in a specialist area 

of forestry such as research, carbon accounting etc). 

To gain accreditation applicants must meet the requirements to 

be a voting member of the IFA and submit an application that 

demonstrates their expertise and experience within the relevant 

category. Applications to the scheme undergo thorough 

reference checks and assessment by national experts and 

reviewed by a panel of the RPF Registration Committee. 

Once appointed, RPFs must comply with a rigorous Code of 

Ethics and undertake Continuing Professional Development 

(CPD). The requirements for CPD are an important part of the 

accreditation process, as they provide an incentive for foresters 

to keep their skills up to date and to extend their areas of 

expertise where appropriate. CPD also provides clients with an 

assurance that the Registered Professional Forester is up to date 

and not relying upon experience or skills which are now out of 

date. 

The scheme is subject to an external independent audit. 

The RPF scheme provides a quality assurance of a person’s 

professional forestry skills, knowledge and experience for 

individuals and their peers, employers, clients and the broader 

community, including the media and judicial system. 

The administration of the scheme is undertaken by the Executive 

of the IFA with the assistance of the RPF Registration Committee. 

Registered Professional Foresters 

Adams, Paul 

Ball, John 

Bankes, Thomas 

Barnes, Ian 

Betancur, Luis 

Bleby, Michael 

Borschmann, 

Raymond 

Bradshaw, Jack 

Bradshaw, Ben, 

Brennan, Paul 

Cannon, Anthony 

Clarke, Stephen 

Clinnick, Peter 

Cole, Alan 

Collet, Stephen 

Cownie, Jeffrey 

Crawford, Hamish 

Cross, Gerard 


The Registration 

Committee consists 

of: 

Graham Wilkinson - 

Chair (Regulatory) 

Peter Devonshire 

(Consulting) 

John Herbohn 

(Forestry education) 

Libby Mattiske (Nontimber 

forestry) 

Graham Wilkinson FIFA RPF 

Robert Towler (Public 

Chair, RPF Registration Committee 

forestry) 

David Wettenhall (Board representative) 

Paul Smale (Private forestry) 

Adrian O’Loughlin (RPF Administrator - ceased 27/11/2009) 

Cassandra Spencer (RPF Administrator - appointed 28/11/2009). 

de Fegely, A. (Rob) 

Devonshire, Peter 

Dickinson, Andrew 

Done, Christopher 

Edgar, James 

Fearnside, Tony 

Featherston, Gary 

Ferguson, Ian 

Field, Belinda 

Finlay-Jones, 

Richard 

Geddes, David 

Goodwin, Adrian 

Hanssen, Robert 

Henson, Michael 

Innes, John 

Jenkin, Braden 

Killin, Daryl 

Lacy, Philip 

The committee meets once per year by way of a teleconference. 

The work of the Committee is primarily conducted through a 

panel that reviews all applications and comprises Graham 

Wilkinson, David Wettenhall and Cassandra Spencer. 

The RPF scheme is promoted through a brochure, the national 

IFA email bulletin, IFA website, The Forester, and at IFA 

conferences and meetings as the opportunities arise. 

A total of 79 RPFs were active as at 30 June 2010 (see below for 

a complete list). 2009/10 saw 11 applications approved. The 

IFA website hosts a listing of all current RPF’s, their registered 

category, demographic information and contact details. 

The IFA Board and RPF Registration Committee thank the 

following members who acted as Assessors and Reference 

Checkers for the scheme during 2009-2010: 

R. de Fegely, J. O’Hehir, G. Cross, J. Vanclay, B. Jenkin, S. Collet, 

S. Clarke, P. Levitze, J. Cownie, D. Geddes, R. Keenan, D. Quill, A. 

Goodwin, A. Yates, S. Manson, C. Done, M. Poynter, M. Bleby, Z. 

Higgins and J. Davidson. 

Lambert, Marcia 

Larkin, Mary-Anne 

Leech, Jerry 

Levitzke, Peter 

Lloyd, Philip 

Maddern, Linda 

Manson, Stephen 

McArthur, Geoffrey 

McCarthy, Richard 

McCaw, Lachlan 

Midgley, Stephen 

Moore, Gerard 

Nethercott, Kenneth 

Newman, Robert 

O’Hehir, James 

O’Neill, Michael 

Parsons, Michael 

Peacock, Ross 

Poynter, Mark 

Quill, David 

Raymond, Daniel 

Read, Shana 

Ryan, Ruth 

Ryan, Zoe 

Sasse, Joanna 

Shepherd, Peter 

Shields, Brett 

Shirley, James 

Shoobridge, Richard 

Smale, Paul 

Spriggins, Don 

Taylor, Glenn 

Thistlethwaite, 

Robert 

Tibbits, Wayne 

Turner, John 

Van Rensburg, 

Rudolf 

Volker, Peter 

Vollemaere, 

Brendan 

Walker, Stephen 

Walsh, Anthony 

Wettenhall, David 

White, David 

Wilkinson, Graham 

Wood, David 

Wood, Matthew 

Yates, Andrew 

Zoric, Branislav

Report against the IFA Strategic Plan 

2009/10 

Activities of the Divisions during 2009/10 have been reported against the headings of the IFA Strategic Plan. The 

Company is currently in the middle of its 3-year plan having reviewed and adopted its new plan for 2008/11. 

The Strategic Plan was developed after consultation with members on the key objectives and activities of the 

Institute. Reporting Divisional activities to members in line with the Strategic Plan ensures that the focus remains 

on the intended goals of the Institute. 

1. To advance and protect the cause of forestry 

1.1 Publish and make educational, marketing and other materials available to those engaged in 

forestry 

The Institute continued to produce Australian Forestry Journal (AFJ) during 2009/10. The peer reviewed journal continues to 

be the pinnacle of publications providing a forum for a large number of impressive research activities. The journal is available 

free of charge to IFA members and is also made available to outside organisations on a subscription basis. There remains 

strong demand for online accessibility by institutions in Australia and overseas and the Institute has invested heavily in making 

the journal available online via the IFA website. 

The Institute engaged in numerous activities during the reporting period with the IFA President and Divisional Chairs presenting 

at conferences, seminars and local Divisional activities. The IFA has established a ‘Presentations Page’ on its website allowing 

for members to load up their seminar presentations and videos on any topic of interest which all IFA members can access. The 

IFA National Conference ‘A climate of change’ proceedings were made freely available on the IFA website and have also 

formed a ‘special issue’ of AFJ. 

A major activity finalised in 2009 was the Peter Hawkins Abstracts project undertaken primarily by IFA member Dr Marcia 

Lambert of Forsci Consulting. Marcia tirelessly compiled abstracts of Masters and Doctoral theses on forestry and forestry 

related subjects from Australian Universities and facilitated their loading onto the IFA website. The website now hosts over 950 

records and has unrestricted public access. 

The Institute supported Forest and Wood Products Australia to promote it’s ‘Wood Naturally Better’ campaign and continued to 

provide members with information on current works and activities of educational institutions and other organisations. 

1.2 Promote the Institute’s and its members participation in forestry and related matters on carbon 

and water 

Red gums were a main area of activity with the NSW Regional Forest Assessments of the River Red Gum and Woodland 

Forests of the Riverina Bioregion and the Cypress State forests of South-Western NSW. The IFA achieved some success in 

publicly highlighting the plight of the red gum forest’s health following 16 years without a major flood and the need for larger 

environmental water allocations in the future. 

The WA Division coordinated a ‘Healthy Forests’ forum for stakeholders in native forest management and were especially 

interested in the views of younger generations. The WA Division also participated in field days with the Environmental 

Protection Agency (EPA). 

Australian Forestry Publication Committee 

Alan Brown, Colin Matheson, Ross Florence and 

Brian Turner 

The Queensland Division held an evening with the topic of ‘Carbon 

sequestration by afforestation and plantations: Meeting the Challenge 

on Climate Change’ by Professor Ram Dalal, Senior Principal Scientist 

in the Department of Environment and Resource Management and an 

Adjunct Professor in the School of Land, Crop and Food Science, 

University of Queensland. 

The ACT Division members continued engagement in the community 

debate surrounding the establishment of the International Arboreta 

and also represented the Institute at the workshop on Urban Forests 

hosted by the ACT Commissioner for the Environment and also at the 

Lindsay Pryor Draft Masterplan workshop. 


The Victorian Division actively pursued the Victorian ombudsman and the Victoria Environment Assessment Commission 

regarding river red gum management over a lack of due process when undertaking assessments and decisions. 

All of the Divisions took the lead at some time during the reporting period and recruited the expertise of members to prepare 

submissions on various issues. The following submissions were made on behalf of members during 2009/10: 

Inquiry into Agribusiness Managed Investment Schemes 

WA Forest Management Plan 2004-2013 

Interim Report of the Independent Review of the Environment Protection and Biodiversity Conservation Act 1999(EPBC Act) 

River Red Gum Forests 

Response to Natural Resources Commissions recommendations for the Riverina Bio-region 

FSC framework for assessing HCV 

Investigation in Government’s tree management practices and the renewal of Canberra’s urban forest 

Victoria’s Regional Forest Agreement Review 

Australia’s Native Vegetation Framework 

South-Western Cypress State Forests Assessment 

Development of the South Australian Forest Industry Strategy 

Comments on Lindsay Pryor National Arboretum Draft Masterplan. 

Incidence and Severity of Bushfires Across Australia 

The IFA Board of Directors is aware of the need to be energetic and persistent in its attempts to increase the IFA profile and that 

to do so is a combined effort of individual IFA members. The comprehensive list of submissions and media releases during the 

reporting period is positive reflection of the committed dedication of IFA members to the science of their profession. 

1.3 Provide information on forestry including a comprehensive set of forest policies 

The Institute continued to enhance its comprehensive suite of forest policy statements by approving 6 new policies and 1 

substantial revision. The Institute undertook to review and update all policy statements of significant age. The process was 

started early 2010 and will continue throughout the year into 2011. 

New IFA forest policy statements approved during 2009/10 include: 

1.5 Conserving forest health 

1.6 Conservation of remnant native woodlands 

1.7 Conservation of Australian native forests and woodlands 

2.10 National Forest Policy 

2.11 Criteria and indicators of Sustainable Forest Management 

5.6 Ecotourism in Australian public forests 

6.2 Forests and Climate Change Mitigation - Revision 1 

DSE Forester Mick Morley explaining the Marysville fire 

using a fire spread map 


The IFA forest policy statements continue to be a sound scientific whilst 

practical and adaptive approach to sustainable forest practices and the 

educated views within these policies remain the basis for all IFA 

submissions. The Forest Policy Editorial Committee consists of Tony 

Bartlett, Rod Bristow and Rod Keenan. 

The WA Division also provided comments on the FSC audit of Albany 

Plantation Forest Company. 

The weekly IFA Email Bulletin remains the most effective form of 

communication allowing members to efficiently receive current updates on 

research activities, professional development opportunities, positions vacant 

and other activities in Australian and overseas.. In addition to this the 

Institute continues to produce its quarterly newsletter ‘The Forester’

highlighting activities of the members throughout Australia, feature 

articles on Registered Professional Foresters and articles ranging 

from Internet publishing to results of research activities delivered 

through IFA grants. 

2 To maintain a high standard of qualification and 

professional standards and ethical practice among 

those engaged in forestry 

2.1 Promote high standards of tertiary education in 

forestry and related natural resource management 

in Australia 

Early in 2010 changes to tertiary education were announced. This is Participants on the ‘Forestry in the Investment World’ 

a highly topical subject and in response to the concerns of it’s 

seminar run by the ACFA Division 

members, the Institute reformed the Education Sub-Committee. The 

first job for the Sub-Committee is to review the current tertiary education content available in Australia. This will lead to the IFA 

establishing a position on the basic ‘core’ elements that tertiary forestry education should include. 

During the reporting period the Institute continued to work in conjunction with universities in garnishing support and understanding 

for the National Forestry Masters Program (NFMP). The Institute collaborated with the NFMP coordinator and ForestWorks by 

hosting a forum aimed at again bringing together sectors of the forest industry most affected by lack of student intake. The forum 

agenda included updates on the skills shortage survey, current VET and University sectors and future skills requirement. The 

forum provided an opportunity for industry groups and universities to talk openly and frankly to each other about the needs and 

current issues facing undergraduate and post graduate forestry education in Australia. 

In addition to this the NSW Division is continuing to collaborate with the University of Sydney on the development of a forestry 

masters course as there are currently no tertiary forestry courses on offer within Sydney. 

2.2 Promote careers and tertiary education in forestry 

Institute members continue to remain active in attending local career days to promote all areas of forest science as an attractive 

career option. The National President and Chief Executive Officer held meetings with industry representatives in establishing 

advertising opportunities through their networks to increase the awareness of forestry as a career. 

Queensland Division member Dr John Herbohn, Associate Professor/Reader in Tropical Forestry at the University of Queensland 

has encouraged and involved students currently enrolled in tropical forestry to attend Institute meetings, field trips and the IFA 

National Conference. NSW member Tamara Campbell has been involved in a science in schools initiative ‘Science in the City, 

Suburbs and Bush’ that conducts science education events for schools (run by the Australian Museum and the University of 

Sydney with funding provided by the Australian Government). Plans are underway for recent forestry graduates to talk about their 

forestry experience in Sydney high schools. 

The Tasmanian Division hosted students from the Australian National University, which has become an annual pilgrimage. This 

year provided a good reason for an IFA get together at the Hilltop Function Centre in Granton (Hobart). Students heard from IFA 

members from the Chief Forest Practices Officer and General Manager of Forest and Forest Industries Council. The Tasmanian 

Division has also been involved in the launch of a mentoring program to encourage Year 9 students to consider a career in 

forestry. The first group of 16 students commenced with a two day introduction which will lead on to further activities. 

The highlight of the year was the launch of the Forestry Scholarship Fund. The Fund has been in the process of establishment for 

the past few years and fruition was finally reached with the awarding of two scholarships in early 2010 to a total value of $10,000. 

The recipients were Andrew Egan and Nick Rudder both in their 1 st year at Southern Cross University. 

2.3 Promote high standards and recognise achievement in Australia’s forestry professionals including 

managing the Registered Professional Forester scheme 

The Institutes highest award, the N.W.Jolly Medal was awarded to Dr Ian Bevege of Batemans Bay NSW. The presentation 

ceremony took place at the IFA National Conference in Caloundra, Qld in September 2009. It was a celebrated event with Ian 

also presenting the Max Jacobs Oration at the opening of the conference. 

Fellow membership recognition was awarded to Peter Crowe (NSW), Mark Poynter (VIC) and Dr D. (Ian) Bevege (NSW). 


David Gough, John Huth, Robert Riddel and 

Joanna Besley at a Qld. Division public lecture. 


The WA Division has embarked on recognition of foresters of long standing 

who have made outstanding contributions to forestry. Division Chair David 

Wettenhall is progressively making his way around the State to present the 

certificate to the recipients. In addition to this the Division has awarded it’s 

annual Forester of the Year award to John Bartle. 

The ACT Division presented forester Claire Howell with the 2009 Forester of 

the Year award along with recognition awards to Bob Newman and Wendy 

Dashwood and to the members of the Publications Committee charged with 

producing Australian Forestry: Alan Brown, Colin Matheson, Brian Turner 

and Ross Florence. ACT member Bob Newman and Mark Parsons have 

tirelessly developed a submission of significant foresters for the ACT Street 

Naming Committee. 

The NSW Division is working closely with Forest NSW on the closure of its 

forestry library. Around half a dozen IFA members have reviewed the 

library’s shelf lists and provided recommendations to ensure that the collection which is widely recognised by forestry 

professionals as one of the most significant in Australia is not broken up. 

The Registered Professional Forester Scheme (RPF) continues to gain momentum as it becomes clear that in today’s society, 

accreditation and recognition of skills is increasingly important. The reporting period saw 11 new approvals bringing the total of 

currently accredited professionals to 79. The Scheme has undergone it’s first independent external audit (and passed with flying 

colours!). To ensure that the intent of the scheme is maintained the revenue raised is not intended as an income stream for the 

IFA and this is reflected in the modest fees applied to new applications and renewals of existing RPF’s. The Scheme is also not 

restricted to members of the IFA however applicants must meet the criteria of ‘Voting’ level of IFA membership. 

The ACFA Division of the IFA ran a highly successful CPD activity in 2009. The two day seminar ‘Forestry in the Investment 

World’ was attended by members and non members of the IFA and focused on the broader world of investment processes and 

structures. 

3 To promote social networking between persons engaged in forestry 

3.1 Encourage interaction among members and others engaged in forestry and natural resource 

management 

Throughout the reporting period, numerous fieldtrips, discussion groups and other activities have been planned amongst the 

members of each Division. Focus naturally centres on World Forestry Day held in March each year with many Divisions using the 

opportunity to gather together as a community and celebrate their profession. 

Some activities throughout the year included: 

WA Division Field trip and BBQ lunch involving land rehabilitation and tree care on at Gwambygine, south of York hosted by 

Roger Underwood. 

IFA members Fariba Outadi and Hooman Tabarestani with 

David Wettenhall, Chair WA Division 

Qld World Forestry Day celebration: ‘The intersection of forestry and 

mining in Queensland’s booming Coal Seam Gas Industry’ - an 

insight into Tree Crop Technology’s development of the world’s first 

industrial scale approach to management of Coal Seam Gas water 

using irrigated plantations, and their experiences in this new frontier 

for forestry by Dr Glen Dale (BSc For Hons, B Sc Biochemistry, 

PhD, MBA), Managing Director & Ian Robb (BSC For), General 

Manager,Tree Crop Technologies P/L. 

In addition to its AGM and World Forestry Day functions the NSW 

Division held three successful weekend field trips. Two events were 

organised by the Division’s Northern Branch (John Ball and Steve 

Pickering). The first in the Urbenville and Casino Districts occurred 

on 20-21 November 2009. This meeting visited the Boral timber 

processing plant at Kyogle to inspect the drying and dressing 

facilities followed by a visit to Mt Lindsey State Forest to inspect the 

silvicultural rehabilitation of areas suffering from Bell Minor 

associated Dieback. After lunch the group looked at first thinning 

operations in 1999 age class eucalypt plantations. The second 

meeting was held on 7-9 May 2010 at Port Macquarie and visited 

forest areas near Wauchope. Field inspections looked at high

intensity harvesting trials in Blackbutt stands and 

Dr Ross Peacock’s study of high altitude rainforest 

in national park areas near Cameron’s Camp (ex 

Mt. Boss State Forest) and how it might be 

affected by climate change. 

In the State’s south-east local members (Ian 

Barnes and Martin Linehan) organised an 

excellent IFA weekend in late April 2010. This 

event was focused on the region’s extensive 

regrowth forests which were inspected first hand 

and discussed in the context of their management 

history and their future management potential. 

The event successfully brought together 25 

members including many foresters who have 

played a significant role in shaping the forests that 

can be seen today. Attendees were also 

privileged to receive a full guided tour of South 

East Forest Exports Pty Ltd wood chipping facility 

at Jews Head. 

Members of the South Australian Division celebrated World Forestry Day activities at an event held at Mount Gambier. Many 

turned out for the forestry displays, GPS treasure hunt, Forestry SA FireKing and children’s art and craft activities. 

The Victorian Division also held events in central and regional areas and have included the annual Sticks and Spechts trivia 

evening. A Department of Sustainability and Environment Toolangi Forest discovery Centre hosted talk by Brett Mifsud on 

Australia’s tall trees, past and present. Parks Victoria seminar on the future of parks by Neil McCarthy. Tours of the affected 

areas of the Black Saturday fires. A farm forestry visit hosted by Rowan Reid, Hugh Stewart and Andrew Stuart proved examples 

of how forests can be integrated into the agricultural landscape for economic, environmental and aesthetic improvements and a 

seminar with Louise Hicks from DLA Fox Phillips on the Princes rainforest project and the difficulties associated with obtaining 

equitable outcomes in reducing deforestation in tropical countries. 

Tasmania held a number of field trips including one to Florentine Valley where members explored the Upper Florentine area, the 

Forestry Tasmania tourism development at Abbots Lookout and various native silviculture treatments through the Florentine and 

Repulse area. An east Coast Trip saw members gathering to visit and revisit the east coast forests that were part of the beginning 

of the woodchip industry in Tasmania in the early 70’s. Under the guidance of David Tucker and Brett Warren they viewed 

excellent examples of dry schlerophyll regrowth from the harvesting of that time. Tas members had opportunity to spend an 

evening with Evan Shield and hear about his activities as a consultant in Bolivia, developing improved silvicultural techniques in 

hardwood plantations to maximise grower returns. 

4 To promote the Institute to members and forestry organisations inside Australia and in 

overseas countries 

4.1 Promote the Institute as a national advocate 

for professional forestry expertise 

The Institute has represented members and the forestry 

profession at the national level through personal 

representations at a number of inquiries, discussion groups 

and conferences. The Institute represented professional 

foresters at education forums and meetings with other 

organisations. 

The IFA National Conference titled ‘Forestry: A Climate of 

Change’ was held at Caloundra, Qld during September 2009. 

Some 200 delegates from Australia & overseas attended a 

very successful conference. The Queensland Division 

Committee provided extensive resources in the lead-up and 

during the conference ensuring it’s success. 

The WA Division corresponded with the Forest Products 

Commission on recent changes within the commission and the 

merits of maintaining a strong professional forestry staff. The 

Peter Volker and colleague measuring the diameter of Eucalyptus 

globulus in Spain (this is claimed to be the largest tree in Europe at 85m 

tall and 93cm diameter and 120 years old). 

International Forestry Students Association meeting at 

Mathisle Hut, Hinterzarten, a 300 year old workers hut in 

the Black Forest near Freiburg, Germany. 


NSW Division gained recognition in the Riverina after intensive lobbying efforts with seven local councils and the local forest 

industry all appreciative of the IFA’s red gum support. 

The NSW and WA Division collaborated and promoted awareness of the serious threat posed by an incursion of Uredo 

rangellii (myrtle rust) and initiated media releases and letters to various state agencies on this matter. The Institute also 

dedicated an information page on this issue on its website. 

4.2 Promote Institute participation in international forestry and natural resource management 

Members have become increasingly interested in the face of forestry in the international arena. With the creation of the 

designated Board Portfolio of International Affairs, the IFA representative has maintained contact with the Commonwealth 

Forestry Association and New Zealand Institute of Foresters. The IFA continues to maintain its membership with IUCN and 

has participated in its local Commission meetings as well as its international activities. 

The IFA was represented at the World Forestry Congress held in Argentina in October 2009 and hosted a side event for 

professional world forestry organisations to meet and discuss issues of importance to each country. An initiative born from 

this side event and from further discussion at the Commonwealth Forestry Conference in Edinburgh, UK during 2010 has 

seen collaboration between the IFA, Institute of Chartered Foresters (UK), Commonwealth Forestry Association and the New 

Zealand Institute of Forestry establishing an International Forestry Network. The purpose of the Network is to assist the 

exchange of views and development of positions on various international forest policy issues and to provide a mechanism to 

share information and support for professionals in countries that may wish to establish professional forestry bodies. 

During November 2009, the IFA representative met with delegates from the Chinese Society of Forestry in Beijing, China. 

Strong support from both sides and a commitment to strengthening ties between our two countries is ongoing with future 

meetings planned for 2010. 

Strong interest has been expressed in participating in tropical forestry tours to Indonesia and Sri Lanka and planning is 

underway to see this happen in 2010. 

The Board of Directors has provided ongoing support for the International Forestry Students’ Association (IFSA) by way of 

financial support to attend international conferences and forums. In 2009 ANU forestry student Alex Slattery was supported 

by IFA in her travel to Europe as part of the IFSA delegation at the United Nationals Framework Convention on Climate 

Change (UNFCC). Alex was representing the IFA as well as local ANU committees in her capacity as Vice President of IFSA, 

a registered charity organisation catering for forestry students worldwide. 

IFA member Dr Jerry Leech has remained active in his participation in the International Valuation Standards Committee as 

the ACFA/IFA representative. He was asked to submitted a discussion paper on the principles of forest valuation to the 

Committee which has opened up further dialog regarding the independence of forestry from other biological assets. 

4.3 Promote a recognisable Institute identity 

The Institute continued to promote itself by member representation at conferences and seminars and contact through the 

media. 

Media statements have been released through the National Office on varying topics and numerous letters to Ministers and 

other organisations have been sent. Division Media Liaison Officers have had letters published in on-line forums and have 

participated in many radio and TV interviews. Victorian member Mark Poynter has continued to promote a more honest 

dialogue regarding the way forestry is portrayed in the media. Mark has had 11 pieces in both On-Line opinion and website 

ABC Unleashed. These pieces have attracted close to 300 comments in response! 

An advertising campaign with national magazines to promote the ACFA (Association of Consulting Foresters of Australia) 

Division of the IFA has begun and will continue throughout 2010/11. 

Several high profile articles in national publications have been written and include quotes from IFA members. 

12 IFA Company Annual Report 2009/10

Financial report 

for the year ended 30 June 2010 

The Institute of Foresters of Australia 

ABN: 48 083 197 586 

Directors Report 

Your directors submit the financial report of the entity for the financial year ended 30 June 2010. The names and details of the directors in office at any time during the year and to the 

date of this report are: 

Peter Volker Chairman David Wettenhall Director Philip B Pritchard Director 

Qualifications Forester Qualifications Forester Qualifications Forester 

Experience Appointed 1 January 2005 Experience Appointed 1 February 2005 Experience Appointed 1 September 2005 

Lewis J Parsons Director Michael F Ryan Director Adrian Goodwin Director 


Experience Appointed 1 August 2006 Experience Appointed 18 October 2008 Experience Appointed 20 October 2008 

Zoe E Harkin Director Keith Jennings Director Richard Shoobridge Director 


Experience Appointed 15 January 2008 Experience Appointed 4 May 2009 Experience Appointed 13 August 2009 

Nicholas Cameron Director Ronald V Wilson Director Andrew L Wye Director 


Experience Appointed 14 August 2009 Experience Resigned 14 Aug 2009 Experience Resigned 13 August 2009 

Company Secretary 

The following person held the position of entity secretary at the end of the financial year: 

Ms Cassandra Spencer - Ms Spencer has over 5 years experience with the Institute of 

Foresters of Australia and was appointed to the position of Company Secretary and Chief 

Executive Officer on 28 November 2009 following the retirement of Mr James Adrian 

O’Loughlin who had held the position from 28 May 2002. 

Principal Activities 

The principal activity of entity during the financial year was to advance the profession of 

forestry. 

Objectives 

The entity’s short term objectives are: 

Publish and make educational, marketing and other materials available to those 

engaged in forestry; 

Promote the Institute’s and its members participation in forestry and related matters 

on carbon and water; and 

Provide information on forestry including a comprehensive set of forest policies. 

The entity’s long term objectives are to: 

To maintain a high standard of qualification and professional standards and ethical 

practice among those engaged in forestry; 

To promote social networking between persons engaged in forestry; and 

To promote the Institute to members and forestry organisations inside Australia and in 

overseas countries. 

To achieve these objectives, the entity has adopted the following strategies: 

The entity strives to attract and retain quality staff that is committed to working to 

advancing the profession of forestry, and this is evidenced by low staff turnover. The 

entity believes that attracting and retaining quality staff will assist with the success of 

the entity in both the short and long term. 

The entity works in partnership with a range of community stakeholders, and this is 

evidenced by ongoing support of the entity’s projects and initiatives. The entity 

ensures community stakeholders understand and are committed to the objectives of 

the entity. 

The Board of Directors are committed to providing the best of all possible outcomes 

on behalf of the foresters with whom the organisation is involved. This is evidenced 

by the success of the entity in its work and its membership numbers. Committed 

Board involvement allows the entity the ability to engage in continuous improvement. 

The entity’s staff strive to meet consistent standards of best practice and provide 

clear expectations of professional accountabilities and responsibilities to all stakeholders. 

This is evidenced by the performance of staff being assessed on these 

accountabilities and ensures staff are acting in the best interests of the entity. 

Operating Results 

The surplus of the entity for the financial year amounted to $26,294 (2009: Deficit of $ 

49,553). 

Forestry Scholarship Fund 

The entity established a trust called the Forestry Scholarship Fund ‘the Fund’ on the 4 th 

April 2008 for the purpose of establishing scholarships for the study of forestry. The fund 

will from time to time provide scholarships to Australian students to assist in their studies 

of Forestry and Forestry related subjects at an Australian University and provide monies to 

Australian Universities for the purpose of assisting students in the study of Forestry and 

Forestry related subjects. 

Dividends Paid or Recommended 

In accordance with the Articles of Association, the company is a company limited by guarantee 

to the extent of $10.00 per member, and accordingly no shares or debentures have 

been issued and no dividends have been recommended or paid since the start of the 

financial year. 

Significant changes in state of affairs 

No significant changes in the entity’s state of affairs occurred during the financial year. 

After balance date events 

No matters of circumstances have arisen since the end of the financial year which significantly 

affected or may significantly affect the operations of the entity, the results of those 

operations or the state of affairs of the entity in future financial years. 

Directors Meetings Eligible to attend Number attended 

Peter Volker 4 3 

David Wettenhall 4 4 

Philip B Pritchard 4 4 

Lewis J Parsons 4 4 

Michael F Ryan 4 4 

Adrian Goodwin 4 4 

Zoe E Harkin 4 4 

Keith Jennings 4 4 

Richard Shoobridge 4 4 

Nicholas Cameron 4 4 


Indemnifying Officers or Auditor 

No indemnities have been given or insurance premiums paid, during or since the end of the financial year, for any person who is or has been an officer or auditor of 

the entity. 

Proceedings on behalf of company 

No person has applied for leave of Court to bring proceedings on behalf of the entity or intervene in any proceedings to which the entity is a party for the purpose of 

taking responsibility on behalf of the entity for all or any part of those proceedings. 

The entity was not a party to any such proceedings during the year. 

Auditor’s independence declaration 

A copy of the auditor’s independence declaration as required under section 307C of the Corporations Act 2001 is on page 7 of this report. 

Signed in accordance with a resolution of the Board of Directors. 

Director: ......................................................................................................... Director: ..................................................................... 

Dated: 18 August 2010 


Balance Sheet 

Statement of Comprehensive Income 

2009 


$ 

As at 30 June 2010 


$ 


$ 

For the Year Ended 30 June 2010 

Note 

Note 

ASSETS 

Conference Revenue 2 184,827 55 

Current assets 

Other revenue 2 333,859 359,371 

Employee benefits expense 3 (154,506) (191,639) 

Cash and cash equivalents 4 177,755 570,314 

Depreciation expense 3 (2,505) (3,670) 

Trade and other receivables 5 171,533 164,322 

Accounting and legal expenses (11,304) (9,955) 

Investments – term deposit 395,179 - 

Administrative expenses (17,459) (18,661) 

Other assets 6 2,989 3,023 

Information program expenses (68,801) (81,116) 

Total current assets 747,456 737,659 

Division expenses (20,441) (27,969) 

Board expenses (18,396) (17,436) 

Non-Current assets 

Property, plant and equipment 7 2,328 4,833 

Special projects expenses (18,083) (18,698) 

Insurance expense (7,431) (7,524) 

Total non-current assets 2,328 4,833 

(1,718) 

Conference expenses 

(150,676) 

TOTAL ASSETS 749,784 742,492 

LIABILITIES 

Other expenses (22,790) (30,593) 

Surplus/(Deficit) from operations 

26,294 (49,553) 

Current liabilities 

- - 

Other comprehensive income 

Trade and other payables 8 35,814 39,230 

26,294 (49,553) 

Total comprehensive income attributed to members 

Short-term provisions 10 12,809 34,578 

Other liabilities 9 310,754 309,521 

Total current liabilities 359,377 383,329 

Statement of changes in Equity 


IFA Company Annual Report 2009/10 15 

Non-Current liabilities 

Long-term provisions 10 6,496 1,546 

Total 

$ 

General 

Reserves 

$ 

Retained 

Earnings 

$ 

Total non-current liabilities 6,496 1,546 

Balance at 1 July 2008 140,636 261,202 401,838 

TOTAL LIABILITIES 365,873 384,875 

Surplus/ (Deficit) attributable to the entity (49,553) - (49,553) 

NET ASSETS 383,911 357,617 

Transfer to Reserves - 5,332 5,332 

EQUITY 

Balance at 30 June 2009 91,083 266,534 357,617 

Retained earnings 117,377 91,083 

Surplus/ (Deficit) attributable to the entity 26,294 - 26,294 

Reserves 266,534 266,534 


TOTAL EQUITY 383,911 357,617

(b) Plant and equipment 

Each class of plant and equipment is carried at cost or fair value less, where applicable, accumulated 

depreciation and impairment losses. 


Statement of Cash Flow 



$ 

Note 

The carrying amount of plant and equipment is reviewed annually by directors to ensure it is not 

in excess of the recoverable amount from these assets. The recoverable amount is assessed 

on the basis of the expected net cash flows that will be received from the assets employment 

and subsequent disposal. The expected net cash flows have been discounted to their present 

values in determining recoverable amounts. 

Cash from operating activities: 

Receipts from members 292,710 268,579 

(576,046) (405,14 

Payments to suppliers and employees 

Plant and equipment that have been contributed at no cost, or for nominal cost, are valued at 

the fair value of the asset at the date it is acquired. 

Interest received 3,536 30,570 

Receipts from other operating activities 282,420 117,160 

Depreciation 

The depreciable amount of all fixed assets including building and capitalised leased assets, but 

excluding freehold land, is depreciated on a straight-line basis over their useful lives commencing 

from the time the asset is held ready for use. Leasehold improvements are depreciated over 

the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements. 

Net cash provided by (used in) operating activities 12 2,620 11,160 

Cash flows from investing activities: 

Purchase of investments (395,179) - 

The depreciation rates used for each of the depreciable assets are: 

Class of fixed asset Depreciation rate 


Payments to acquire property, plant and equipment - (1,944) 

Net cash provided by (used in) investing activities (395,179) (1,944) 

Plant and equipment 15-20% 

(c) Impairment of assets 

At each reporting date, the entity reviews the carrying values of its tangible and intangible assets 

to determine whether there is any indication that those assets have been impaired. If such and 

indication exists, the recoverable amount of the assets, being the higher of the asset’s fair value 

less costs to sell and value in use, is compared to the assets carrying value. Any excess of the 

asset’s carrying value over its recoverable amount is expensed to the Income Statement. 

Net increase (decreases) in cash held (392,559) 9,216 

Cash at beginning of financial year 570,314 561,098 

Cash at end of financial year 4 177,755 570,314 

Where the future economic benefits of the asset are not primarily dependent upon the assets 

ability to general net cash inflows and when the entity would, if deprived of the asset, replace its 

remaining future economic benefits, value in use is depreciated replacement cost of an asset. 

Notes to the Financial Statements 

Statement of significant accounting policies 

1. The financial report is for The Institute of Foresters of Australia as an individual entity, incorporated and domiciled 

in Australia. The Institute of Foresters of Australia is a company limited by guarantee. 

Where it is not possible to estimate the recoverable amount of an asset class, the entity estimates 

the recoverable amount of the cash generating unit to which the class of assets belongs. 

Basis of preparation 

The financial report is a general purpose financial report that has been prepared in accordance with Australian 

Accounting Standards (including Australian Accounting Interpretations) and the Corporations Act 2001. 

(d) Employee benefits 

Provision is made for the entity’s liability for employee benefits arising from services rendered by 

employees to Balance Sheet date. Employee benefits expected to be settled within one year 

together with benefits arising from wages, salaries and annual leave which may be settled after 

one year, have been measured at the amounts expected to be paid when the liability is settled 

plus related on-costs. Other employee benefits payable later than one year have been measured 

at the net present value. 

Australian Accounting Standards set out accounting policies that the AASB has concluded would result in a financial 

report containing relevant and reliable information about transactions, events and conditions. Material accounting 

policies adopted in the presentation of this financial report are presented below and have been consistently 

applied unless otherwise stated. 

The financial report has been prepared on an accruals basis and is based on historical costs. 

Accounting policies 

Contributions are made by the entity to an employee superannuation fund and are charged as 

expenses when incurred. 

(a) Revenue 

Revenue from the sale of goods is recognised upon the delivery of goods to customers. 

(e) Cash and cash equivalents 

Cash and cash equivalents include cash on hand, deposits held at call with banks, other shortterm 

highly liquid investments with original maturities of three months or less, and bank overdrafts. 

Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to 

the financial assets. 

Revenue from the rendering of services is recognised upon the delivery of the service to the customers. 

All revenue is stated net of the amount of goods and services tax (GST).

Expected Impact 

Reference Title Summary Application date 

(financial years 

beginning) 

1 January 2010 Minimal 

Amends a number of standards as 

a result of the annual improvements 

project. 

AASB 2009-5 Further Amendments 

to Australian 

Accounting Standards 

arising from 

the Annual Improvements 

Project 

[AASB 5, 8, 101, 

107, 117, 118, 136, 

(f) Goods and Services Tax (GST) 

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of 

GST incurred is not recoverable from the Australian Tax Office. In these circumstances, the GST is recognised 

as part of the cost of acquisition of the asset or as part of an item of expense. Receivables and payables 

in the Balance Sheet are shown inclusive of GST. 

Cash flows are presented in the Cash Flow Statement on a gross basis, except for the GST component of 

investing and financing activities, which are disclosed as operating cash flows. 

139] 

1 January 2013 Minimal 

AASB 9 Financial Instruments 

(g) Income tax 

No provision for income tax has been raised as the entity is exempt from income tax under Division 50 of 

the Income Tax Assessment Act 1997. 

Replaces the requirements of 

AASB 139 for the classification 

and measurement of financial 

assets. This is the result of the first 

part of Phase 1 of the IASB’s 

(h) Provisions 

Provisions are recognised when the entity has a legal or constructive obligation, as a result of past events, 

for which it is probable that an outflow of economic benefits will result and that outflow can be reliably 

measured 

1 July 2010 Minimal 

project to replace IAS 39. 

This Interpretation addresses the 

accounting by an entity when the 

terms of a financial liability are 

renegotiated and result in the 

entity issuing equity instruments to 

a creditor of the entity to extinguish 

all or part of the financial 

liability. It does not address the 

accounting by the creditor. 

Extinguishing Financial 

Liabilities with 

Equity Instruments 

Interpretation 

19 

(i) Comparative Figures 

Where required by Accounting Standards comparative figures have been adjusted to conform with changes 

in presentation for the current financial year. 

1 January 2011 Disclosure only 

AASB 124 Related Party Disclosures 

(j) Rounding of amounts 

Amounts in the financial report and directors' report have been rounded off to the nearest $1. 

(k) Critical accounting estimates and judgments 

The directors evaluate estimates and judgements incorporated into the financial report based on historical 

knowledge and best available current information. Estimates assume a reasonable expectation of future 

events and are based on current trends and economic data, obtained both externally and within the company. 


2009-11 Amendments to 

Australian Accounting 

Standards arising 

from AASB 9 

(l) New Accounting Standards for Application in Future Periods 

The following Australian Accounting Standards issued or amended which are applicable to the entity but 

are not yet effective and have not been adopted in preparation of the financial statements at reporting date. 


Australian Accounting 

Standards 

IFA Company Annual Report 2009/10 17 


1 July 2010 Minimal 

Revised standard. The definition of 

a related party is simplified to 

clarify its intended meaning and 

eliminate inconsistencies from the 

application of the definition 

Amends AASB 1, 3, 4, 5, 7, 101, 

102, 108, 112, 118, 121, 127, 128, 

131, 132, 136, 139, 1023 and 

1038 and Interpretations 10 and 

12 as a result of the issuance of 

AASB 9. 

Amends AASB 8 Operating Segments 

as a result of the revised 

AASB 124. Amends AASB 5, 108, 

110, 112, 119, 133, 137, 139, 

1023 & 1031 and Interpretations 2, 

4, 16, 1039 & 1052 as a result of 

the annual improvement project. 

Amends AASB 1 First-time 

Adoption of Australian Accounting 

Standards; and 

AASB 7 Financial Instruments: 

Disclosures. Principally give 

effect to extending transitional 

provisions of AASB 2009-2. 


Australian AccountingStandards 

– Limited 

Exemption from 

Comparative 

AASB 7Disclosures 

from Firsttime 

Adopters

5. Trade and other receivables 


$ 


$ 

Current 

Trade receivables 156,209 162,408 

Revenue 

Other receivables 15,324 1,914 

2. 

171,533 164,322 


$ 


$ 

6. Other Assets 


$ 


$ 

Current 

Prepayments 2,989 3,023 

Operating activities 

RPF application 2,145 800 

Subscriptions 242,127 246,596 

IFA items 410 2,599 

Australian Forestry Journal 32,168 35,967 

Register fees 17,528 28,104 

Interest received 16,946 26,862 

Newsletter 1,364 2,205 

Divisions 20,641 15,655 

AGM - 484 

Conference 184,827 55 

Other revenue 530 99 


2,989 3,023 

7. Property, plant and equipment 


$ 


$ 

Total Revenue 518,686 359,426 

Plant And Equipment 

3. Profit 

At cost 24,944 25,913 


$ 


$ 

Less: accumulated depreciation (22,616) (21,080) 

Total plant and equipment 2,328 4,833 

Total 

$ 

Property, 

plant and 

equipment 

$ 

Movements in carrying amounts 


Expenses 

Depreciation of plant and equipment 2,505 3,670 

Total employee benefits expense 154,506 191,639 

Auditor Remuneration 

audit services 5,000 5,000 

Significant Revenue 

The following significant revenue are 

relevant in explaining the financial performance: 

Subscriptions and journals 274,295 282,563 

Conference 184,827 55 

Balance at the beginning of year 6,559 6,559 

Additions 1,944 1,944 

4. Cash and cash equivalents 

Depreciation expense (3,670) (3,670) 


$ 


$ 

4,833 4,833 

Cash at bank 157,825 550,550 

Cash on hand 19,930 19,764 

177,755 570,314 


Balance at the beginning of year 4,833 4,833 

Depreciation expense (2,505) (2,505) 

2,328 2,328

8. Trade and other payables 

11. Members’ guarantee 


$ 


$ 

The company is limited by guarantee. If the company is wound up, the Constitution states that 

each member is required to contribute a maximum of $10 each towards meeting any outstanding 

obligations of the company. At 30 June 2010 the number of members was 1,297 (2008: 1,336). 

Current 

Trade payables 3,305 7,490 

Other current payables 32,509 30,729 

Employee benefits - 1,011 

35,814 39,230 

9. Income in advance 


$ 


$ 

12. Cash flow information 

Reconciliation of cash 


$ 


$ 

Membership and journal subscriptions 292,279 270,662 

ACFA 18,475 18,515 

Net Conference Account - 20,344 

310,754 309,521 

Cash at bank 157,825 550,550 

Cash on hand 19,930 19,764 

177,725 570,314 

10. Provisions 

Total 

Accrued 

annual leave 

Long-term 

employee 

benefits 

Reconciliation of cash flow from operations 

with Surplus/ (Deficit) after income tax 


$ 


$ 

Surplus/ (Deficit) 26,294 

(49,553) 

Non cash flows in Surplus/ (Deficit) 

$ $ $ 

Opening balance at 1 July 2009 17,956 18,168 36,124 

Net Additional provisions raised during year - 5,832 5,832 

Net Amounts used (11,460) (11,191) (22,651) 


Depreciation 2,505 3,670 


$ 


$ 

Changes in assets and liabilities: 

(Increase)/decrease in trade and other re- 

(7,211) 

ceivables 

2,887 

(Increase)/decrease in prepayments 33 (386) 

Increase/(decrease) in trade payables and 

(3,416) 

accruals 

4,469 

Increase/(decrease) in other liabilities - 5,332 

Increase/(decrease) in income in advance 1,234 38,775 

Increase/(decrease) in provisions (16,819) 5,966 

Cash flow provided by operating activities 2,620 11,160 

Analysis of total provisions 

Current 12,809 34,578 

Non-Current 6,496 1,546 

19,305 36,124 

A provision has been recognised for employee entitlements relating to long service leave. In calculating the present 

value of future cash flows in respect of long service leave, the probability of long service leave being taken is based on 

historical data. The measurement and recognition criteria relating to employee benefits have been included in Note 1 to 

this report. 


15. Financial Risk Management (continued) 

Total 

$ 

Post – employment 

Benefit 

$ 

Short –term 

Benefit 

$ 

Key management personnel compensation 

13. 

(c) Credit risk 

The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance 

date to recognised financial assets, is the carrying amount, net of any provisions for impairment of those 

assets, as disclosed in the balance sheet and notes to the financial statements. 

The company does not have any material credit risk exposure to any single receivable or group of receivables 

under financial instruments entered into. 


Total compensation 115,463 10,600 126,063 


Total compensation 90,568 8,152 98,720 

Credit risk is managed by the entity and reviewed regularly by the board. It arises from exposures to customers 

as well as through deposits with financial institutions. 

Financial Instruments Composition and Maturity Analysis 

The table below reflects the undiscounted contractual settlement terms for financial instruments of a fixed 

period of maturity, as well as management’s expectations of the settlement period for all other financial 

instruments. As such, the amounts may not reconcile to the balance sheet. 

Assets and Liabilities of Trust for which the Company 

is a Trustee 

The Institute of Foresters is the trustee of the Forestry Scholarship Fund ‘the Fund’. The Fund was established 

for the purpose of providing scholarships for the study of forestry. Details of the underlying assets and liabilities 

are as follows: 

14. 


$ 


$ 


Current Assets 

Cash 10,000 - 

Financial Instruments Composition and Maturity Analysis 

The table below reflects the undiscounted contractual settlement terms for financial 

instruments of a fixed period of maturity, as well as management’s expectations 

of the settlement period for all other financial instruments. As such, 

the amounts may not reconcile to the balance sheet. 

TOTAL ASSETS 10,000 - 

Current Liabilities - - 

Floating Inter- Fixed Interest Non-interest Bearing Total 

est Rate Rate Maturing 

2010 2009 2010 2009 2010 2009 2010 2009 

$ $ $ $ $ $ $ $ 

Financial assets 

Cash at bank 157,8 146,1 - 404,391 - - 157,825 550,550 

25 59 

Cash on hand - - - - 19,930 19,764 19,930 19,764 

Receivables - - - - 171,533 164,322 171,533 164,322 

Investments - - 395,179 - - - 395,179 - 

Total 157,8 146,1 395,179 404,391 191,463 184,086 744,467 734,636 

25 59 

Financial liabilities 

Trade and sundry payables - - - - 35,814 39,230 35,814 39,230 

Total - - - - 35,814 39,230 35,814 39,230 

The floating interest rates are 0.8% in 2010 (0.8% in 2009). The fixed interest rates were 4.2% in 2010 (3.6% in 2009) 

TOTAL LIABILITIES - - 

NET ASSETS 10,000 - 

15. Financial Risk Management 

The company’s financial instruments consist mainly of deposits with banks, accounts receivable and payable. 

Specific Financial Risk Exposure and Management 

The main risks the entity is exposed to through its financial instruments are interest rate risk, liquidity risk and credit 

risk. 

2010 2009 

$ $ 

(a) Interest rate risk 

Interest rate risk is managed with a mixture of fixed and floating cash investments. 

Trade and sundry payables are expected to be paid as follows: 

Account payables 

Less than 12 months 35,814 39,230 

35,814 39,230 

(b) Liquidity risk 

The entity manages liquidity risk by monitoring forecast cash flows and ensuring that adequate cash reserves are 

maintained.

Financial Risk Management (continued) 

15. 

Directors’ Declaration 

Net Fair Values 

1. The directors declare that the financial statements and notes set out on pages 8 to 22, are in 

accordance with the Corporations Act 2001: 

(a) comply with Australian Accounting Standards; and 

(b) give a true and fair view of the financial position as at 30 June 2010 and of 

the performance for the year ended on that date. 

2. In the directors’ opinion there are reasonable grounds to believe that the entity will be able to 

pay its debts as and when they become due and payable. 

This declaration is made in accordance with the resolution of the directors. 

The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the balance 

sheet and in the notes to the financial statements. 

Sensitivity analysis: 

Interest rate risk 

The company has performed a sensitivity analysis relating to its exposure to interest rate risk at balance date. This 

sensitivity analysis demonstrates the effect on current year results and equity which could result from a change in this 

risk. 

As at 30 June 2010, the effect on profit and equity as a result of changes in the interest rate, with all other variables 

remaining constant, would be as follows: 

2010 2009 

$ $ 

Change in profit 

— Increase in interest rate by 1% 5,530 5,500 

— Decrease in interest rate by 1% (5,530) (5,500) 

Change in equity 

— Increase in interest rate by 1% 5,530 5,500 

— Decrease in interest rate by 1% (5,530) (5,500) 

This sensitivity analysis has been performed on the assumption that all other variables remain unchanged. 

Director: ................................................. Director: ..................................................................... 

Dated: 18 August 2010 

16. Entity details 

The registered office of the entity is: 

The Institute of Foresters of Australia 

Building 9 

Wilf Crane Crescent 

YARRALUMLA ACT 2600

2009/2010 IFA Annual Report - Institute of Foresters of Australia

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