Treasurer’s Report 2010

ACT MASTERS SQUASH ASSOCIATION INC

REPORT OF THE TREASURER

I present my report on the audited financial statements of the Association for the year ended 31 December 2010.

The principal activity of the Association during the financial year was to promote, administer and encourage the game of squash for players aged 35 years and over.

The financial statements include:-

Statement of Income and Expenses

Balance sheet

Statement of cash flows

Notes to and forming part of the financial statements

 

For the information of members, attached is an abridged financial report that outlines key financial statistics for the past four years. I will explain this in detail.

The net operating loss was $2824 compared to a loss of $4,521 in 2009.

Income decreased to $91,197 from $99,780 in 2009.

Income from competition fees also decreased from $62,690 to $57,970. On the expenditure side court hire decreased from $51,072 to $48,100.

Expenditure also decreased significantly from $104,301in 2009 to $94,022.

Total assets at the end of December 2010 were $60,507 and total liabilities were $4,610. The liability figure represents the 2011 competition fees and sponsorship monies received in November/December 2010. Cash at bank was $28,664 compared to $30,690 at the end of December 2009. The term deposit remained at $20,000.

I would like to thank the committee for their hard work and support during 2010 and at the same time encourage all of you to think about volunteering to join our new committee. We will be hosting the 2013 Australian National championships and we need your enthusiasm and particular skills to make this one of the more successful championships. Planning has commenced and we need to have our promotional material and publicity available by September 2012.

 

 

AGM – FINANCIAL REPORT FOR MEMBERS
   

2007

   

2008

   

2009

   

2010

 
Competition fees  

46310

   

57515

   

62690

   

57970

 
Less
Court Hire

41930

48476

51072

48100

Ball purchases

1074

462

8

755

Trophies

9024

3532

4868

8390

Refunds

400

920

825

100

AMSA Fees

250

500

0

Direct Expenses  

52428

   

53640

   

57273

   

57345

 
Net  

-6118

   

3875

   

5417

   

625

 
Other Indirect expenses                
Audit fees

200

 

200

 

200

200

 
Bank charges

1211

 

1368

 

1646

1079

 
Printing & Stationary

302

436

402

508

Phone

25

55

0

Total  

1738

   

2004

   

2303

   

1787

 
                 
Net difference  

-7856

   

1871

   

3114

   

-1162

 
Discretionary Expenses                
Catering

1619

1161

1109

916

Australian Championships

12199

10132

8605

12618

Badges

750

1035

813

888

March Tournament(net exp)

29

3234

8432

-905

Development of web site

1820

Functions

1294

-1070

549

217

Miscellaneous

328

-102

251

1483

Total  

18039

   

14390

   

19759

   

15217

 
Raffle

3805

4537

5905

5877

Profit on bar

2194

1492

2487

1998

Interest

3341

3066

856

798

Sponorship

400

550

700

Reserve fees

3818

6119

5575

5403

Total other revenue  

13558

   

15214

   

15373

   

14776

 
Total Revenue  

70439

   

86034

   

99780

   

91197

 
Total Expenditure  

82667

   

82209

   

104301

   

94022

 
Profit/Deficit  

-12228

   

3826

   

-4521

   

-2824

 
Cash at bank  

56342

   

50094

   

50690

   

48664

 
Member Numbers Cost Cost Cost Cost
Autumn comp -Monday

104

32

100

103

44

130

113

49

130

114

31

135

Autumn comp -Wednesday

48

28

100

57

35

130

64

37

130

64

35

135

Total

152

60

 

160

79

 

177

86

 

178

66

 
Winter comp – Monday

97

29

100

94

46

130

90

51

135

105

46

110

Winter comp – Wednesday

38

33

100

56

28

130

65

39

135

63

44

110

Total

135

62

 

150

74

 

155

90

 

168

90

 
Spring comp – Monday

96

43

100

97

51

130

104

37

115

97

51

115

Spring comp – Wednesday

48

32

100

64

36

130

61

29

125

56

45

135

Total

144

75

 

161

87

 

165

66

 

153

96

 
Total all comps

431

197

 

471

240

 

497

242

 

499

252