Girl Guides NSW, ACT & NT Annual Report 2020

TREASURER’S REPORT
I present the audited financial statements for the year
ended 31 December 2020.
Overview
This financial year posed significant challenges for the
Association. Restrictions associated with COVID-19 had a
significant impact on our ability to deliver Guiding activities
and events. This in turn decreased member numbers and
lowered our income from all core activities.
We undertook a number of actions in response to these
challenges, including reducing expenditure across all
areas. Ultimately, we managed to preserve our financial
position, maintaining Total Accumulated Funds and
Reserves of $33 million at 31 December 2020. This represents
an overall surplus of $0.11 million for the year. A deficit from
core activities of $0.59 million and a decline in investment
value by $1.06 million were offset by property sales and
bequests of $1.77 million.
Membership income represented 23% of total revenue
from core activities, a decline of 5% from 2019. Investment
income, which declined by 46% from 2019, represented 20%
of core income in 2020. Government support, including
JobKeeper payments and Grants, represented 42% of core
income in 2020.
Acknowledgements
Girl Guides NSW, ACT & NT only exists because of the hard
work and enduring commitment of hundreds of volunteers.
These hours do not appear in the financial statements, but
they can be seen in the way that thousands of girls and
young women continue to benefit from our programs.
Thank you to the volunteer members of the Finance
Management Committee; Sarah Neill, Karen Lui, Lisa
Walters, Lizzie Cannon, Cecily Zhu and Sonja Freeman
for their expertise, enthusiasm and commitment.
Thank you in particular to Sarah and Lizzie, who
are leaving the Committee this year after having
served for long periods of time. They have all made
enormous contributions to the financial sustainability of
our organisation and their input will be missed.
Finally, thank you to Helen White, our Chief Executive
Officer, and her team. The external audit of our financial
statements resulted in no internal control findings or
recommendations for a second consecutive year, a
testament to the dedicated work of our finance team.
Helen and her team have been adaptable, resilient and
responsive in 2020, and despite a difficult year they have
continued to progress and improve our delivery of the
Guiding program.
While our financial position will likely improve as our
community overcomes COVID-19, we will require continued
focus on our financial sustainability to allow us to deliver
the Guiding program to future generations of members.
David Van Gogh
Treasurer
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GIRL GUIDES NSW, ACT & NT | ANNUAL REPORT 2020