Untitled - Cerebral Palsy League

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(b) Reconciliation of Net Cash used in Operating Activities to Operating Deficit Cerebral Palsy League of Queensland ( 20 ) Operating result for the year (83,826) (729,119) Less items classified as investing activities:- Interest revenue Dividend Revenue Loss/(Gain) on sale of property, plant and Equipment Capital subsidies and donations received Add non-cash items:- Depreciation & Amortisation Increase in Provisions Bad debts written off Change in assets and liabilities:- Increase)/Decrease in Trade and other receivables Increase)/Decrease in Assets held for sale (Increase)/Decrease in Inventories (Increase)/Decrease in Investments Increase/(Decrease) in Trade and other payables Increase/(Decrease) in Unexpended Grants & Income in Advance 5 5 6 21 (207,560) (1,050) 537,413 (474,620) 1,413,518 218,889 67,276 (1,006,843) (1,223,160) (49,145) (21,840) (397,240) 999,359 (128,696) (280) (633,016) (580,619) 1,669,442 192,751 (948) 256,286 (1,908,900) (70,767) (7,840) 1,227,385 (1,125,991) NET CASH (USED BY)/GENERATED BY OPERATING ACTIVITIES (228,829) (1,840,312) NOTE 23. AUDITORS’ REMUNERATION NOTE 2007 $ Audit Services KPMG Audit of Financial Report Other Regulatory Audit Services Other Assurance Services KPMG 41,200 17,200 - 2006 $ 37,000 30,885 9,000 58,400 76,885 NOTE 24. CHARITABLE LIFE INSURANCE At 30 June, 2007 the League held a life insurance policy with a surrender value of $6,898 (2005: $6,637). The League is the designated beneficiary of the policy. This item is not reflected in the financial statements. NOTE 25. COMMITMENTS NOTE 2007 $ Operating Lease Commitments Future Operating Lease Rentals of Buildings, Equipment and Motor Vehicles not provided for In the financial statements and payable: Not later than one year Later than one year but not later than five years Later than five years 690,259 1,794,932 120,195 2006 $ 634,121 1,240,886 199,559 2,605,386 2,074,566 The League leases property under operating leases expiring from 2 to 6 years. Lessors provide the League with a right of renewal at which time all terms are renegotiated. Lease payments comprise a base amount plus an incremental contingent rental. Contingent rentals are based on either movements in the Consumer Price Index or operating criteria.
NOTE 26. COMPANY NAME AND MEMBERS LIABILITY The League is a company limited by guarantee. It is exempted under Section 150 of the Corporations Act 2001 from using the word “Limited” in its name. The Constitution limits the liability of members and states “Every member of the League with the exception of any Honorary Member undertakes to contribute to the property of the League in the event of the same being wound up while he is a member, or within one year after he ceased to be a member, for payment of the debts and liabilities of the League (contracted before he ceased to be a member) and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributors among themselves, such amount as may be required, not exceeding twenty dollars ($20.00)”. NOTE 27. RELATED PARTIES Non-Executive Directors The names of all persons holding the position of Director of Cerebral Palsy League of Queensland during the financial year are S.G. Brady, Y.R.Burns, H.M. Darch, G.R. Davies, R.C. McNally, D.T. Orr, R.H. Porter, S.B. Rix, K.P. Rodgers, and M.G. Pini. All Directors’ positions are honorary and no remuneration was paid to any Director during the year. Directors from country regions are reimbursed for travelling costs and accommodation. Key Management personnel Key management personnel have authority and responsibility for planning, directing and controlling the activities of the League, including Directors of the League and other executives. No director of the League receives any remuneration by virtue of their being a director. Therefore the amounts shown in this note refer to the remuneration paid to Key Management personnel who are not also Directors. Key management personnel is defined as including all of the members of the League Management Team which includes the Executive Management Team plus the Regional and Business Unit Managers or fourteen personnel. The remuneration of these personnel is referred to as compensation as defined in AASB 124 Related Party Disclosures. Compensation levels for key management personnel are set based on an independent study commissioned by the League in 2003 and completed by Mercer Human Resources Consulting which is subject to annual updates. The remuneration committee of the Board of directors takes cognisance of this independent advice on the appropriateness of compensation packages given trends in the Disability and related not for profit sectors and the objectives of the League in this area. The compensation paid to key management personnel is designed to attract and retain suitably qualified candidates and on an individual basis is commensurate on the individual’s capability and experience. The key management personnel compensation included in employee expenses are as follows: Short-term employee benefits Long term benefits NOTE 2007 $ 1,255,867 13,678 2006 $ 1,338,558 38,902 Cerebral Palsy League of Queensland ( 21 ) 1,269,545 1,377,460 Loans to key management personnel Details regarding the aggregate of loans made by the League to key management personnel are as follows: NOTE 2007 $ 2006 $ Loans to key management personnel 5,386 9,576 5,386 9,576 This amount refers to the aggregate of loans made by the League as a consequence of salary packaging arrangements for the assisted purchase of lap-top computers by certain key management personnel. For all loans made in this manner to key management personnel, the loans are advanced for a period not greater than twelve months and on an interest free basis. If employment terminates prior to the expiration of the loan, then the amount is immediately repayable in full at the date of termination. Amounts receivable from key management personnel at reporting date arising from these transactions are as follows: NOTE 2007 $ 2006 $ Amounts Receivable 6,372 7,738 6,372 7,738 From time to time, Directors of the League may purchase goods from the League. These purchases are on the same terms and conditions as those entered into by other League employees or customers and are trivial or domestic in nature.
Page 3 and 4: Front Cover Image: League client, Z
Page 5 and 6: about the league The Cerebral Palsy
Page 7 and 8: chairperson and CEO foreword This y
Page 9 and 10: Pictured: League client, Bridie (th
Page 11 and 12: Pictured: Supported employees, Stev
Page 13 and 14: Pictured: More than 190 people atte
Page 15 and 16: Pictured: League client, Will Denny
Page 17 and 18: Pictured: Governor Bryce congratula
Page 19 and 20: Pictured: Supported employee, Ernes
Page 21 and 22: service development and policy Over
Page 23 and 24: Pictured: On behalf of the State CC
Page 25 and 26: Pictured: More than 30 people volun
Page 27 and 28: of agreements available to the Leag
Page 29 and 30: Pictured: Talented artist, John Mor
Page 31 and 32: Director’s Report The Directors p
Page 33 and 34: control, monitoring and reporting m
Page 35 and 36: Marketing and Fundraising Committee
Page 37 and 38: • Dispute resolution • Conflict
Page 39 and 40: Statement of recognised Income & Ex
Page 41 and 42: Estimates and underlying assumption
Page 43 and 44: (j) Inventories Inventories are car
Page 45 and 46: Cash at bank and on hand as at the
Page 47 and 48: NOTE 15. PROPERTY, PLANT AND EQUIPM
Page 49: • The bank loan covering the purc
Page 53 and 54: NOTE 31. RESERVES NOTE 2007 $ Asset

Untitled - Cerebral Palsy League

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