TSA Impact Report 2022

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Our Financial ResultsI am pleased to report that TSA is in a very soundposition financially and has been well managedthrough challenging times.While community fundraising opportunities areincreasing they are still not back to pre-COVID-19levels however we have been extremely heartened tosee continued donations and support from our TSCCommunity during such uncertain times.The huge support shown for our newest fundraisinginitiative, the Light the Way Giving Day, along with ourComedy for a Cure in December 2021 and Lizzie’s Lunchin June 2022 has helped TSA return a small surplus.We hope support for these events will continue as theymake a significant impact to our organisation’s incomegeneration and ability to deliver our programs.The TSA Management Committee decided to broadenour investment base beyond our traditional termdeposits which had record low rates to build a longtermsustainable portfolio. A finance sub-committeecomprising Michael Jones, Nova Young and myselfas Treasurer, was established to make investmentrecommendations. As a result, some initial investmentstotalling $134,785 have been made into conservativemarket linked assets. These investments have lostvalue initially because of global instability, but we areconfident they will provide stronger returns in themedium term. Our balance sheet shows the actual valueof our assets at 30 June. The unrealised change in thevalue of the assets is recorded in the non-operatingsection of the Income and Expenditure statement.Our bookkeeping partners, Refuge Accounting,continue to ensure that we are compliant in payroll,superannuation and GST. We use the Xero cloud-basedaccounting package which provides secure multi-useraccess for employees, bookkeepers, committee membersand auditors. All invoices, receipts and documentationare stored inside Xero, facilitating transparency andauditability. Our CommBiz banking platform requiresdual authorisation for any payments.The accounts for the year ending 30 June 2022 wereaudited by Mark Mortimer (Registered Auditor No. 1942)of Bondy Mortimer & Co. A copy of the report is availableat https://tsa.org.au/about-us/annual-reports/The accounts of TSA align to the National StandardChart of Accounts published by the Australian Charitiesand Not-for-profits Commission.Whilst we continue to live in times of uncertainty, I amconfident TSA is positively placed financially and is beingwell managed and governed to ensure its continuedoperational and financial sustainability.Patrick Norris, TSA Treasurer andgrandfather to Liam, who lives with TSC20
Financial statementsBalance Sheet as at 30 June 2022ASSETS 30 June 2022 30 June 2021BankANZ Cash Account (Stockpot) $1,027 $0General Cheque Account $194,316 $141,008NAB Trade Accounts $50,160 $0PayPal $1,933 $1,842Savings Accounts $32,728 $81,359Staff Debit Cards for TSA Expenses $2,450 $3,468Term Deposits $11,154 $195,306Total Bank $293,768 $422,982Current AssetsAccounts Receivables $18,500 $0Deposits Paid $0 $600Refundable - Franking Credits $415 $0Sundry Debtors $0 $715Total Current Assets $18,915 $1,315Non-Current AssetsAdd/(Less): nabtrade - Unrealised Market Value Gains/(Losses) ($8,015) $0Add/(Less): Stockspot - Unrealised Market Value Gains/(Losses) ($5,613) $0nabtrade - Investments at Cost $60,231 $0Stockspot - Investments at Cost $74,554 $0Total Non-Current Assets $121,157 $0Total Assets $433,840 $424,297LIABILITIESCurrent LiabilitiesGST ($1,387) $2,460PAYG Withholding Payable $3,722 $3,148Provision for Annual Leave $19,790 $17,921Superannuation Payable $3,358 $3,089Suspense $0 $40Trade Creditors $0 $1,401Unexpended Grants $62,377 $69,294Total Current Liabilities $87,860 $97,354Non-Current LiabilitiesProvision for Long Service Leave $8,049 $6,565Total Liabilities $95,909 $103,919Net Assets $337,931 $320,377EQUITYCurrent Year Earnings $17,554 $91,351Retained Surplus $320,377 $229,027Total Equity $337,931 $320,37721
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