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.