Treasurer’s Report Year End 2011

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 2011.

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

The net operating profit was $2676 compared to a loss of $2824 in 2010.

Income increased from $91,197 in 2010 to $95,162 in 2011.

Income from competition fees increased from $57,970 to $61,400.  On the expenditure side, court hire increased from $48,100 to $50,936.

Sponsorship income increased from $700 in 2010 to $2,750 in 2011.

Expenditure also decreased from $94,022 to $92,585.

Total assets at the end of December 2011 were $63,658 and total liabilities were $5085.  The liability figure represents the 2012 competition fees and sponsorship monies received in December 2011.  Cash at bank was $25,965 compared to $28,664 at the end of December 2010.  The term deposit remained at $20,000.

I would like to thank the committee for their hard work and support during 2011.  In particular for the retiring committee members, my personal thanks to Virginia who has been a great Secretary, Lyn Dunmore who has been our competition Secretary for a number of years and Richard Horlock for the work he does in organising food and obtaining sponsors.

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.  Please volunteer to help in any way you can as there is a tremendous amount of work that needs to be done to make these championships a success.

 

Ron Smith 26.3.12