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Treasurer’s report
TREASURER’S REPORT - MAURICE WOODHOUSE
Maurice Woodhouse, Trustee, Treasurer
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NET CURRENT ASSETS
2020/21 193K
While the financial result for the year ended 30 June 2021 was a loss of $28,336, the net cash surplus before depreciation was $138,104. This is approximately $148,000 less than last year, however it should be recalled that this included a $100,000 bequest.
Particularly pleasing was the increase in memberships, small bequests and gate takings for this year, and the apparent correlation between these income streams.
Revenue from COVID grants was utilised to increase staff positions within the trust. As such, staff salaries increased by approximately $91,000 to $411,587 for the year, while Sanctuary expenses increased $108,203 to $679,178.
The trust balance sheet position remained relatively similar to the previous year, however both cash reserves and liquidity ratios improved slightly, resulting in the trust having net current assets of $193,665 as at 30 June 2021, compared to $103,995 the previous year. The trust finance committee has a tentative target of improving cash reserves to equal one year’s operating expenditure, which is currently approximately $600,000.
In summary, 2021 certainly proved challenging with the advent of COVID19, never the less with prudent management and the significant assistance of staff, volunteers and trustees we have emerged I believe in a better financial position than we started the year. My personal thanks in particular to our office staff, Ru, Nick, and Deborah along with operation staff and the many volunteers for their ongoing valuable support.
Maurice Woodhouse (Treasurer)
