Treasurer’s Report Year End 2012

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 2012.

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 $12,796 compared to a profit of $2,676 in 2011.

Income increased from $95,162 in 2011 to $104,577 in 2012.

Income from competition fees increased from $61,400 to $73,298.  On the expenditure side, court hire increased from $50,936 to $55,248.

A big thank you to our sponsors, Rolfe Mazda, Alucom, Infront, Travel Associates, Simpson Optometry, Ruchi’s, Real Estate Shop and Visual Q.  Our sponsors support us, please support them and let them know that you are from Masters squash.

Expenditure decreased from $92,485 to $91,781.

Total assets at the end of December 2012 were $76,487 and total liabilities were $5,117.  The liability figure represents the 2013 competition fees and monies related to the 2013 championships received in December 2012 or earlier months.  Cash at bank was $36,646 compared to $25,965 at the end of December 2011.  The term deposit remained at $20,000. Prepaid expenditure in relation to the 2013 championships is $12,587 and this is treated as an accrued asset in the 2012 accounts.

I would like to thank the committee for their hard work and support during 2012.  In particular my personal thanks to Deb who has been a great Secretary, Lynda Hancock our competition Secretary ably assisted by Linda Barich, Sue Parker  our function organiser, Tanya Hancock for looking after the trophies, Geoff Coggins for looking after and maintaining the web site, Richard Horlock for the work he does in organising the raffles, food and obtaining sponsors for both the March and September championships and to Jenny Moylan and Mike De Nardi for the great suppers including tonight as well as running the kitchen each year for the March championships.

As mentioned 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.  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.