Surf Life Saving Sydney Northern Beaches 48th Annual Report

Surf Life Saving Sydney Northern Beaches Inc ABN. 31 416 737 307
Financial Reports
Committee Report
Your committee members submit the financial report of
the Surf Life Saving Sydney Northern Beaches Inc for the
financial year ended 31 March 2007.
Committee Members
The names of committee members throughout the year
and at the date of this report are:
· Gordon Lang (appointed 1 May 2007)
· Phillip Cullis (appointed 1 May 2007)
· Anthony Burns (resigned 1 May 2007 and did not seek
re-election)
· Anthony Haven (resigned 1 May 2007 and did not seek
re-election)
Principal Activities
The principal activities of the association during the
financial year were to provide, maintain and promote a safe
beach and aquatic environment throughout Australia and
be a valued Surf Life Saving service to the community of
Sydney northern beaches.
Significant Changes
No significant change in the nature of these activities
occurred during the year.
Operating Result
The profit after providing for income tax amounted to
$64,106. This years’ surplus result has exceeded the
budgeted forecast by approximately 600% (budgeted
surplus was $18,225 to an actual of $104,138 before
accounting for depreciation). This has been achieved by
diligent budget management throughout the year with
constant review of expenditure against the Management
and Financial Plan.
In reviewing this year’s financial performance it is noted that
total income decrease by 6% on last year (excluding the
gross-up of wages paid to the School) mainly due to falls in
SLSNSW and SLSA sponsorship distribution and reduction
in CDSE grants. Cost of administration rose by 35% mainly
due to costs incurred in the change to the SLSA database
system. Expenditure on Rescue Services increased by
88% due to the introduction of RWC Operations. There
was also a significant increase on Member Development
expenditure (731% or $41,000) to Provide Leadership
Training.
The main aspect of the Management and Financial Plan
over the last 3 years has been to provision for the purchase
of a building. $450,000 of retained earnings has been
approved by the Board of Management to be used towards
the purchase of a suitable property. It is anticipated that
these funds will be expended in the next financial year –
2007-2008
The committee is pleased to have again reduced
membership capitation fees by a further 50% to $1.55. This
is the second year capitation has been reduced by 50%,
reduced from $6.50 in 2003-2004. Taking into account the
increased membership numbers this equates to $109,245
returned to the clubs over the past two seasons.
In addition to a sponsorship dividend of $2,146 was paid
to each club this season; bringing the total sponsorship
distribution over the three years of the Management and
Financial Plan to $298,056. Total cash benefit to member
clubs over the three years was $407,301
Signed in accordance with a resolution of the Members of
the Committee.
Committee Member: Gordon Lang
Committee Member: Phillip Cullis
Dated this 26th day of June 2007
40
Surf Life Saving Northern Beaches 2007 Annual Report