Balance Sheet as at 30th June <strong>2014</strong> ASSETS Petty Cash on hand Deposits for banking $ 753.00 $ 300.00 Rental Bond Authority Prepayments $ 2,632.36 $ 1,620.00 BOQ General Account BOQ Group Account $ 100.00 $ 3,158.61 ING Investment Account $57,447.61 BOQ Web Account $43,958.45 BOQ Term Deposit $10,000.00 Cash reserves are set aside for capital replacements, staff award increases and staff wage entitlement provisions. All general banking is conducted with Bank of Queensland and surplus funds are kept in the ING Investment Account and Bank of Queensland Web Account and Term Deposit to maximize interest earned, currently at 2.75% for ING and 2.25% for BOQ and 3months Term Deposit 3.60% TOTAL CURRENT ASSETS $120,093.23 FIXED ASSETS Vehicles, Furniture, Plant & Equipment During the year purchases of new assets amounted to $11,528.08 including – Chair for NQ, desk NQ, Banners OPCK, BBQ, Esky, Cabinet, Marquee, USB Backups. and assets funded by DOJ for Peer Support Program $9,159.88 NON CURRENT ASSETS $ 88,064.35 TOTAL ASSETS $208,157.58 TOTAL LIABILITIES $128,396.28 Made up of current liabilities- accounts payable $5,072.36, petty cash $160.25, employee entitlements $75,792.28, Tax payable –gst and payg $1,373.96 Total $87,428.85 Long term liabilities - motor vehicle loans - Esanda Ltd $5,146.83 ANZ $35,820.06 NET ASSETS (Members Funds) $ 79,761.30 <strong>Report</strong> for Operating Year <strong>2013</strong>/14 Costs associated with the ongoing function of QHVSG increase annually and leave us with the continuing problem of finding extra funding. It is unfortunate for us to have to acknowledge that shortfall of funding is a limiting factor in the services that we provide to our members and the community, in that we cannot provide full time employment to all our staff. This places added pressure on the organization in maintaining support services and does not allow for any expansion in this area. There is no doubt that demands for our services increases each year, and as a consequence, additional staff hours and more administration costs also increase. Therefore, we need to seriously address fundraising, and/or seek continued government funding. To this end, the input of suggestions from all concerned members, staff, and other interested people will be welcomed to ensure this deserving organization can continue the work it was set up to perform. There can also be no doubting the organization has come a long way since 1995, when it was created by founding members in Townsville. It was self-funded in the beginning, and on 27 th of April 1998, QHVSG became a partly funded organization. A special thanks to our current funding body- Queensland Government Department of Justice and Attorney General – Victims Assist Queensland. For the Hon. Treasurer 28 <strong>Annual</strong> <strong>Report</strong> <strong>2013</strong> - <strong>2014</strong>
29 <strong>Annual</strong> <strong>Report</strong> <strong>2013</strong> - <strong>2014</strong>
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