2014-15 SPECIAL PURPOSE FINANCIAL REPORT
Contents Executive Committee Report
03
Financial Statements
08
Statement of Profit or Loss and Other Comprehensive Income
08
Statement of Financial Position
09
Statement of Changes in Equity
09
Statement of Cash Flows
10
Notes to the Financial Statements
11
Executive Committee Members’ Declaration
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Independent Auditor’s Report to the Members
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Auditor’s Independence Declaration
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The Executive Committee of the Multiple Sclerosis Society of Queensland present their Report together with the financial statements of the consolidated entity (‘the Group’), being the Multiple Sclerosis Society of Queensland (‘the Society’) and its controlled entity, the Multiple Sclerosis Development and Research Foundation of Queensland Inc., for the year ended 30 June 2015 and the Independent Audit Report thereon.
Executive Committee details The following persons were members of the Executive Committee during or since the end of the financial year.
Jonathan Loraine
Roger Burrell
Executive Committee Member since 2002
Executive Committee Member since 1996
Chairman (resigned 28 November 2014)
Partner in corporate advisory firm Neuchatel Partners, Chairman and founder of resources services company Core Resources Pty Ltd and Chairman of the Cooperative Research Centre for Optimising Resource Extraction based at the University of Queensland. Director of MS Australia. Member of the Australian Institute of Company Directors.
MEETING ATTENDANCE
Board Risk & Audit Building & Property Assets
Acting Chairman (effective 29 November 2014)
Director of MS Australia, solicitor, Director of Burrell Stockbroking Pty Ltd and related entities, Director of Access Funds Management Limited, consultant to QM Properties and Property Solutions, former partner of Clayton Utz (1987-2000) and Phillips Fox (2000-2006) and Fellow of the Australian Institute of Company Directors.
MEETING ATTENDANCE
MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
Board Remuneration & Nominations Building & Property Assets
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Executive Committee Report
Johanna Roche
Lincoln Hopper
John Dempsey
Executive Committee Member since 2010
Chief Executive Officer MS Queensland
Executive Committee Member since 2011
Extensive experience in domestic and international tax issues. Fellow of the Institute of Chartered Accountants Australia, Member of the Tax Institute of Australia and Graduate of the Australian Institute of Company Directors. Former partner of PwC Australia.
Held previous Directorships of ACOSS, Mission Australia Early Learning Services, Mission Australia Housing Ltd and Aboriginal micro enterprise nonprofit Many Rivers Microfinance. Holds post graduate qualifications in Commerce. Member of the Australian Institute of Company Directors.
Previous Chairman of Energex Limited (2006-2012), Non-Executive Director dual listed Company, Ceramic Fuel Cells Limited. Graduate Member of the Australian Institute of Company Directors, Ambassador QId Museum.
Treasurer
MEETING ATTENDANCE
Board Risk & Audit
Secretary
MEETING ATTENDANCE
Board Remuneration & Nominations Building & Property Assets Services Philanthropic Relations Risk & Audit
Member (resigned 28 November 2014)
MEETING ATTENDANCE
Board Risk & Audit
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SPECIAL PURPOSE FINANCIAL REPORT
MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
Wendy Lovelace
Carmel Macmillan
Rachel Matthews
Executive Committee Member since 2008
Executive Committee Member since 2013
Executive Committee Member since 2007
MS Ambassador and advocate. Architect and universal access consultant. Convenor of Queensland Action for Universal Housing Design. Person with MS.
Extensive experience in marketing, management and business strategy. Managerial executive of CM Strategy Consulting. Graduate member of Australian Institute of Company Directors. Director of Piovesan Nominees Pty Ltd, Committee Member of Mater Little Miracles and Queensland Association for Gifted and Talented Children Inc.
Vice Chair of Qld Disability Network. Former medical secretary, journalist and instrumental music teacher. Long-time community, arts and disability activist in Mt Isa, Townsville, Roma and Brisbane. Person with MS.
Member
MEETING ATTENDANCE
Board Services
Member
MEETING ATTENDANCE
Board Services Philanthropic Relations
Member
MEETING ATTENDANCE
Board Services
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MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
Simon McNeilage
John O’Dempsey
Tracey Parker
Executive Committee Member since 2011
Executive Committee Member since 2009
Executive Committee Member since 2011
Director of project management, facilitation and environmental firm McNeilage and Associates. Extensive experience in corporate management, university advisory committees and industry associations.
MS Ambassador and convenor of the Gold Coast PwMSQ Support Group. Retired Business Development Manager in the automotive and industrial industries. Person with MS.
Chief Financial Officer and Company Secretary of the Pradella Group, a large private builder and developer of residential, commercial and industrial properties in South East Queensland. Member of Institute of Chartered Accountants Australia.
Member (resigned 28 November 2014)
MEETING ATTENDANCE
Board Services
Member
MEETING ATTENDANCE
Board Services
Member
MEETING ATTENDANCE
Board Risk & Audit Building & Property Assets
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SPECIAL PURPOSE FINANCIAL REPORT
MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
Principal activities
Long-term objectives
• diversify our fundraising mix and configuration
During the year, the principal activities of entities within the Group were to provide direct assistance to people who have been diagnosed with Multiple Sclerosis (MS) including: the provision of services to those people, their families and carers; the removal of barriers preventing their participation in the community; and to fund research into a cure for MS. There have been no significant changes in the nature of these activities during the year.
The Group’s long term objectives are to:
• p osition the Society for client servicing via individualised fee-for-service, commercial and NDIS arrangements
Short-term objectives
Strategy for achieving short and long-term objectives
The Group’s short-term objectives are to: • a ccurately understand the met and unmet needs of people living with MS/Progressive Neurological Disease (PND) in Queensland ontinually increase our financial contribution to • c research into MS/PND
rovide high quality solutions for people living with • p MS/Progressive Neurological Disease (PND) in Queensland dvocate societal, policy and sector reform that • a directly benefits our clients and • maintain a strong, developing and sustainable organisation.
• operate financially sustainable activities • fundraise for service innovation and MS research • b e the best employer and volunteer placement option in our sector • i nvest in systems and technology that support our work and • reduce our impact on the environment.
To achieve these objectives, the Group has adopted the following strategies: • b ecome the first choice in Queensland across the MS/PND lifecycle • service Queensland equitably
ncourage, support and harness grass-roots • e advocacy
• invest in e-health client technology
ontinue to develop specific outreach and • c facilitation servicing models
• b ecome the lead advocate for people living with MS/PND in Queensland
• s trengthen our relationships with key Queensland influencers and
• credibly report the impact of our work
• build on our brand awareness.
aximise the benefits of our assets, including • m property holdings
• support and promote cutting-edge MS research
• have a dominant brand presence in Queensland • b e the preferred partner of clients, state and local government and a top three partner for donors and the business community
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MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
FINANCIAL STATEMENTS
DISSOLUTION The Multiple Sclerosis Society of Queensland was incorporated under the Religious, Educational and Charitable Institutions Acts 1861-1967 on 14 November 1974. If the Society is wound up, the constitution states that the property and other assets of the Society remaining after the payment of all expenses and other liabilities must be transferred to an organisation, fund, authority or institution, having similar objects to the Society, to which income tax deductible gifts can be made.
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2015
ACTING CHAIRMAN
18 September 2015
EXECUTIVE COMMITTEE MEMBERS’ DECLARATION The Executive Committee Members’ declaration is included on page 20 of the financial report and forms part of the Executive Committee Members’ report.
INDEPENDENT AUDITOR’S REPORT TO MEMBERS The independent auditor’s report to members is included on page 21 of the financial report and forms part of the Executive Committee Members’ report. Signed in accordance with a resolution of the Executive Committee Members.
Roger Burrell
The accompanying notes form part of these financial statements
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MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
STATEMENT OF FINANCIAL POSITION
STATEMENT OF CHANGES IN EQUITY
AS AT 30 JUNE 2015
FOR THE YEAR ENDED 30 JUNE 2015
The accompanying notes form part of these financial statements
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MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
SPECIAL PURPOSE FINANCIAL REPORT
MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2015
The accompanying notes form part of these financial statements
We don’t realise what people with MS and their carers have to endure, until our families are also touched by the disease. Anything we can collectively do to ensure a financially strong MS Queensland, in their provision of effective research and care support, is a great reason to contribute.” Graham Clelland, MS Queensland Donor
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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2015
(a) BASIS OF PREPARATION
(b) FORMATION
1.STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
(c) PRINCIPLES OF CONSOLIDATION
(d) REVENUE RECOGNITION
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MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
NOTES TO THE FINANCIAL STATEMENTS
MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
SPECIAL PURPOSE FINANCIAL REPORT
(d) REVENUE RECOGNITION (CONTINUED)
(f) INCOME TAX
for year ended 30 June 2015
1.STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(e) GOVERNMENT SUBSIDIES
(g) CASH AND CASH EQUIVALENTS (h) TRADE RECEIVABLES (i) INVESTMENTS (j) PROPERTY, PLANT AND EQUIPMENT
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MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
NOTES TO THE FINANCIAL STATEMENTS for year ended 30 June 2015
1.STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (C0NTINUED)
(l) EMPLOYEE ENTITLEMENTS
(j) PROPERTY, PLANT AND EQUIPMENT (CONTINUED)
(k) TRADE AND OTHER PAYABLES
(m) GOODS AND SERVICES TAX (GST) (n) ASSETS HELD FOR SALE
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MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
NOTES TO THE FINANCIAL STATEMENTS for year ended 30 June 2015
1.STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (C0NTINUED)
(r) GOING CONCERN
(n) ASSETS HELD FOR SALE (CONTINUED)
(o) INTANGIBLE ASSETS (p) KEY ACCOUNTING ESTIMATES AND JUDGEMENTS (q) NEW ACCOUNTING STANDARDS FOR APPLICATION IN FUTURE PERIODS
(s) CHANGES IN ACCOUNTING POLICIES
2.CAPITAL MANAGEMENT
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SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
NOTES TO THE FINANCIAL STATEMENTS
for year ended 30 June 2015
4.CASH AND CASH EQUIVALENTS
5.TRADE AND OTHER RECEIVABLES
3.REVENUE
6.TERM DEPOSITS
7.FINANCIAL ASSETS
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MULTIPLE
MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
Notes to the Financial Statements for year ended 30 June 2015
8.Property, plant and equipment
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NOTES TO THE FINANCIAL STATEMENTS for year ended 30 June 2015
9. INTANGIBLE ASSETS
MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
10. TRADE AND OTHER PAYABLES
(a) MOVEMENTS IN CARRYING AMOUNTS
(a) TRADE PAYABLES (b) UNEARNED REVENUE (c) DISABILITY SERVICES QUEENSLAND-CAPITAL FUNDING FOR LIFE AT ANNERLEY
(d) CAPITAL INCOME-OTHER
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MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
NOTES TO THE FINANCIAL STATEMENTS
for year ended 30 June 2015
11. PROVISIONS
12. EXECUTIVE COMMITTEE MEMBERS
13. CASH FLOW INFORMATION
(a) RECONCILIATION OF CASH
(b) RECONCILIATION OF CASH FLOW FROM OPERATING ACTIVITIES WITH NET SURPLUS / (DEFICIT)
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for year ended 30 June 2015
473 412 MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731
16. PRINCIPAL ACTIVITIES
14. CAPITAL COMMITMENTS
NOTES TO THE FINANCIAL STATEMENTS
SPECIAL PURPOSE FINANCIAL REPORT 2014-15
17. ECONOMIC DEPENDENCY 15. REMUNERATION OF AUDITORS
18. EVENTS AFTER REPORTING DATE
19. AUTHORISATION
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Executive Committee members’ declaration
Page numbers referenced in this document are not reflective of pagination in this Special Purpose Financial Report.
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MULTIPLE SCLEROSIS SOCIETY OF QUEENSLAND ABN 56 731 473 412 SPECIAL PURPOSE FINANCIAL REPORT 2014-15
2014–15 SPECIAL PURPOSE FINANCIAL REPORT
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