national servicemen's association of aust (qld) inc. - Nasho Front Page

REPORT ON THE FINANCIES OF OUR ASSOCIATIONWith each issue of the Nasho News I propose toprovide you with a short report on the situation ofthe financial position of our Association. Afterbeing elected as Treasurer I, together with theexecutive, examined the state of the finances as at23rd March 2013. This was the date on which wetook over. We have attended to the formalitiesrequired for changing the signatures on the bankaccounts and other items that required alterations.The financial report presented at the AGM was verydetailed and showed that we had a total of $160,455available to the Association in cash and termdeposits.The following is a summary of finances for the 3months to 23 rd. March 2013 after which the newSMC took over.Receipts$50,000 in membership fees.$1,000 in bank interest$5,200 for advertising in the Nasho News$1,000 Nominal Roll collections, Donations andprofit on merchandise sales.Expenditure$4,500 for the Audit of the 2012 financial accounts$700 in legal fees$1,700 in Branch administration costs$1,000 in expenses for our headquarters at CampHill$1,200 in computer maintenance$500 in meeting costs$20,000 for insurance cover$800 for internet charges$2,000 on telephone calls and rental$800 on the cost of membership postage andstationery$4,000 for capitation to the National Associationand meeting costs incurred$1,500 on expenses for the Wacol Precinct$4,500 on producing and posting the Nasho News$3,500 on welfare expenditure$1,000 on office expenditure and Nominal Rollcosts$3,000 for travel expenses by the previousexecutive.This is a combined total expenditure of just under$50,000 for three months.This is against a total income of $57,200 for threemonths.It does not leave us much to operate on for theremaining 9 months without dipping into reservesas occurred last year! I know that the insurancecharge is an annual cost and does not requirepayment until next January.The incoming committee will have to be frugal withtheir spending and it will be necessary to increaseour income by ensuring that all grants are appliedfor particularly the ANZAC Day Trust, the holdingof an annual raffle and increasing membershipWhen you realise that the grant from the ANZACDay Trust generally exceeds $20,000 and can be upto over $30,000 annually, I cannot understand whythe previous administration failed to lodge anapplication. I have personally contacted eachBranch requesting an immediate copy of their 2012financial reports because they could not be locatedat HQ. The response I received was humbling andoverwhelming. I received absolute 100% supportand best wishes. Because of this, the good news isour application for a grant from the ANZAC DayTrust will be lodged on time. By the time you readthis report we will, hopefully, be set up for a grant.When I took over the books the previous executivehad just on $59,000 sitting in their General Accountfor a lengthy period earning virtually no interest. Ipromptly withdrew $40,000 and invested it in aterm deposit receiving 4.35% interest. Isn’t thatwhat a Treasurer is supposed to do? The annualraffle generally produces about $8,000 so we hopeto sort that out and get it going. On the down side,I have just been informed that our buildings atWacol are infested with white-ants and this mayprove to be costly, being a lousy Treasurer, I am notlooking forward to the costs of addressing thisproblem.I am currently preparing a budget for the SMC andhope to provide a copy for you in the next newsletter.You will realise that I and my assistant Barry Loosewill demand that the SMC manage all the fundsavailable and that we will be keeping a verywatchful eye on all expenses.In closing I particularly wish to thank each andevery member I spoke to requesting copies of theirfinancial report in a hurry, without their instantsupport, we would have missed out on making theapplication for our grant. It was great to renewsome old friendships and talk with some lovelypeople. Life can be sweet - particularly when youhave nice people around to help you!Keep smiling.Neal Freier (State Treasurer)PAGE 4