ACHPER QLD Annual Report 2010.pdf

Finance Director’s
For the year ending 31 December 2010
Report
PROFIT
The net result for the year ending
31 December 2010 year is a loss of $8,555
(2009 profit: $41,832).
The 2009 profit can in part be attributed to
the 2009 International conference and the
associated profit share that ACHPER QLD was
entitled to. This is not an annual event and
therefore should be noted when comparing to
2010.
The loss for the year was largely anticipated in
our 2010 budget as we entered a year for the
first time knowing that we could not expect
certain income streams and government
support that we had received in the past.
Our ambitious projections fell short in event
registrations and event sponsorship; however
this was almost recovered by cost savings in
our budgeted event expenses. The committee
was not disappointed to emerge at the end of
the year with this comparatively small loss.
As we enter 2011 we are again working from
a break even budget, however our experience
from 2010 has enabled us to put together a
more realistic budget that should see ACHPER
QLD finish 2011 at a break even or small
profit.
INVESTMENTS
In 2010 the ACHPER QLD management
committee initiated a website upgrade which
will add significant communication benefits
and increased interaction with our members.
The total committed investment will be $7250
As at the end of 2010 we had spent $1,170 of
the total.
Prior years surplus has also been invested into
a higher interest savings account resulting in
interest revenue of $1,960 in 2010 (2009: $110)
INTERNAL CONTROL
The ACHPER QLD team has implemented
a number of controls around spending and
accounting in the past 18 months to ensure
that the organisation’s funds are properly
accounted for. These controls are revised
regularly and are supported by our annual
independent audit.
Meagan Mackerras
Finance Director
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