Annual Report 2013-14
2Design, photography and layout: Leisa Quinn
Contents
President’s Report 4 CEO’s Report 5 Snapshot Of The Year 7 Felines 8 Canines 9 Other Animals 10 Wildlife 11 Vet Work 12 Inspectorate 13 Our People 14 Our Donors 15 Our Partners 16 Event Sponsors 17 Our Supporters 17 Financial Statements 18
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From the President The last year has been a time of great change for RSPCA ACT. After evolving, diversifying and growing over the last 25 years, 2013 - 2014 must be seen as a ‘watershed’ year when RSPCA ACT’s Council had to meet substantial industrial, financial and operational challenges. One of Council’s main responsibilities was to recruit a new CEO. We looked for someone with a love of animals and entrepreneurial drive and energy who could take us into the future. After a national search, Tammy Ven Dange joined us in late February and has proved to be an outstanding leader and manager as well as a powerhouse of new ideas. Council established three strategic priorities and prime amongst them was the need to find new ways to put RSPCA ACT on a more sustainable financial footing to face what could be an extended period of reduced revenue and possibly government funding. Partly as a result of the changed economic conditions in the ACT, the year saw us completely rethink the scope and scale of our business while still delivering on our mission to prevent animal cruelty in the ACT.
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Great progress was made on building a positive staff culture, Council’s second strategic priority and on the third priority - our current facilities. In relation to our future facilities, discussion with the ACT government was suspended but will recommence in the second half of 2014-15. Many supporters, sponsors and donors have contributed to our work this year, and on behalf of Council, I thank them all and look forward to their continued involvement with us. In particular, I thank our dedicated staff, including those who left us during the year, and the army of volunteers who made the achievements of 2013 - 2014 possible.
Louise Douglas President RSPCA ACT
CEO’s Report I feel very fortunate to have the best job in Canberra! Since joining the RSPCA ACT team at the end of February, the staff and community have made me feel very welcome. Thank you! RSPCA ACT cares for more than 7000 animals in the Canberra community each year. We are the only permanent place where someone can surrender an unwanted or stray animal other than a dog. We have the only vet clinic that will provide ongoing care for wildlife. We employ the only full time licensed animal welfare inspectors in the ACT. And each year, we care for almost as many stray dogs as the ACT Domestic Animal Services (the Pound). Without RSPCA ACT, there would be a lot more unwanted, feral, neglected, injured and mistreated animals in the Canberra area. Joining the organisation at this time in its history has been a difficult transition, however. After many years of operating at a loss, a local economic downturn following the most recent federal elections, and staff morale issues, RSPCA ACT has ended 2013-14 with a depleted bank account. We recognised the challenges of the current state not too long after I arrived and began making substantial operational changes including a number staff redundancies starting in April to try to reduce our ongoing expenses. We also put some measures in place to increase revenue from our existing services.
As commercial revenue generates less than 50% of the budget and government funding only covers another 15%, the organisation is heavily dependent on donations and fundraising events. Previous years that have ended with a surplus were the result of generous bequests left by avid supporters. Unfortunately, these sudden cash infusions are completely unpredictable, and after a number of years without a significant bequest, the organisation is in a difficult financial position at the moment. By the end of the year, we were able to slow the financial loss and improve the ongoing health of the organisation by implementing a number of major operational changes including Sunday closures. However, we still have plenty of work to do to stabilise the financial position of the organisation. Despite all of these challenges, the welfare of the animals in our care has not been compromised. At the end of 2014, we broke our local records for the most kitten adoptions and the lowest euthanasia rate in our organisation’s history. Furthermore, we had the highest dog adoptions in 3 years and the highest adult cat adoptions in 5 years. Treatment of injured wildlife has continued to be a priority though we have been working closer with ACT Wildlife for animals requiring longer term care, resulting in a significant
reduction in wildlife. As a result, it was truly a remarkable year for animal welfare in the ACT. Looking forward to 2014-15, I am cautiously optimistic that the operational changes we started last financial year will stabilise the organisation. To do this, we have shifted our focus from the development of a new shelter to stabilising the organisation financially and emphasising our core mission of our organisation: the prevention of cruelty to animals. This means redirecting our limited resources from administration to front-line roles such as our inspectors and veterinarians, as well as, improving operational processes and increasing revenue within our current facility. We are not out of the red yet, but with the ongoing help and generosity of our supporters and sponsors, I am sure that we can progress to the next chapter of RSPCA ACT’s history of protecting animals in our community.
Tammy Ven Dange CEO RSPCA ACT
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Snapshot of the year
Snapshot of the year July •
August Tax appeal raises $80K (same as 2012)
October •
Michael Linke resigns as CEO
•
RSPCA ACT Pet Expo
•
Highest # of cats adopted since Apr 2008
January
•
Cupcake Day - 457 cupcake cooks raise over $100K
•
Kitten enclosure replaced by Hindmarsh volunteers
November •
“Dogvember” is best month for dog adoptions in 4 years
•
Santa Paws
February
September •
Spring Appeal brings in $30k - $10k less than 2012
December •
Christmas Appeal brings in $70k, less than 2012.
•
989 Christmas Trees sold
•
10% increase in adoptions
•
188 kittens go into foster care
March
•
Attended Cancon Games Expo
•
Tammy Ven Dange begins as new CEO
•
Autumn Appeal brings in $46k – less than 2013
•
Flight aviary completed in wildlife
•
Attended the Royal Canberra Show
•
Adopted 70 more animals than previous year
•
Best month for kitten adoptions ever
•
Co-hosted Valentine’s Day pet dating w/Petbarn
•
Best kitten adoptions since Mar 2008
•
Best kitten adoptions for Feb since 2002
April
May
•
Trivia Night brings in almost $20,000
•
Unfair dismissal claim ruled in favour of RSPCA ACT
•
Best Apr ever for kitten adoptions
June
•
Million Paws Walk – regos down but the event was still a succes
•
Highest # of cats adopted in May since 2002
•
Highest # of puppies adopted since Aug 2009
•
Canberra’s Next Top Pet launched
•
Highest # of cat adoptions in Jun since 2002
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Animal Care
Felines
Domestic Felines
The public is often surprised when they find out that our adoption rates for felines are more than three times that of canines year after year. It’s only surprising because unlike dogs, cats are generally not as visible in parks, cafes and of course, Million Paws Walk! The adoption rate of cats and kittens was the highlight of animal welfare at RSPCA ACT in 201314 as we showed an 11.4% increase over the previous year. This statistic was helped through our partnership with Petbarn that gave us more retail outlets especially during peak periods. With a solid foster care program in place for kittens, we have been able to reduce disease significantly with the lowest euthanasia number on record - a 25.6% decrease for domestic felines in comparison to the previous year.
Domestic Cats
Domestic Kittens
This Year
Last Year
This Year
Last Year
This Year
Reclaimed†
196
187
182
164
14
23
Re-homed
1328
1192
492
457
836
735
In Care‡
73
67
41
46
32
21
Domestic Euthanased
279
375
166
270
113
105
Feral Euthanased
361
401
229
231
132
170
Other* Total
Last Year
28
46
4
32
24
14
2265
2268
1114
1200
1151
1068
99
Domestic Euthanasia Reasons
Medical Behavioural
235
287
133
188
102
44
88
33
82
11
6
Total
279
375
166
270
113
105
*Other includes: stolen, escaped and unassisted death. †Reclaimed includes emergency boarding. ‡In care at the end of the financial year. Please note: 2012-13 amended to include inspectors’ emergency boarders.
Blade’s Story
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When Blade came to us he was limping on his back right leg. It appeared he had been hit by a car.
His new owners would need to make sure Blade wasn’t subject to anything that may risk damage to his remaining kidney.
Our veterinarians took x-rays and found that he had dislocated and broken his right hip. A surgery called a ‘femoral head ostectomy’ was performed to remove his right femoral head and neck (the ball that connects to the socket of the hip to form the hip joint). Blade also had surgery to remove the right kidney, leaving him with only one.
Lucky for this sweet little guy the perfect family came along, loved him from the very beginning and chose to have Blade, now renamed ‘Sonny’, to join their family.
After surgery, Blade recovered well and was put up for adoption. Waiting for the right owner would take a little time as Blade’s needs were a little more specific with his one kidney.
Sonny now lives a relaxed and happy life with his best mate and also former RSPCA ACT resident Freddie.
Animal Care
Dogs
Canines
Canines
Puppies
This Year
Last Year
This Year
Last Year
This Year
Last Year
Reclaimed†
923
1073
853
1009
70
64
Rehomed
403
389
195
183
208
206
In Care‡
71
69
41
45
30
24
Transferred*
138
152
138
151
-
1
Euthanased
104
132
80
105
24
27
6
9
1
3
5
6
1645
1824
1308
1496
337
328
Other# Total
Domestic Euthanasia Reasons
Medical
62
76
45
57
17
9
Behavioural
42
56
35
48
7
8
Total
104
132
80
105
24
27
*Transferred: RSPCA ACT works collaboratively with Domestic Animal Services to maximise positive outcomes for dogs. #Other includes: stolen, escaped and unassisted death. †Reclaimed includes emergency boarding. ‡In care at the end of the financial year. Please note: 2012-13 amended to include inspectors’ emergency boarders.
Gus’ Story Gus came to us as a stray suffering from distichiasis, a condition where eyelashes on the eyelid grow in an abnormal direction. In Gus’ case his eyelashes were growing inward causing constant irritation and weeping. Poor Gus was in such an uncomfortable state that he continuously pawed at his eyes, making it far worse. RSPCA ACT vets decided to try cryotherapy, a procedure which kills the hair follicle preventing the hair from growing back. With this type of treatment it is sometimes necessary to have multiple treatments over an extended period of time. Gus wasn’t able to go up for adoption during treatment which meant a few months of life in the shelter. The strain on his mental health showed. This happy, vibrant and cuddly dog started to become slow and depressed. So beautiful Gus took a holiday from his kennel and
In 2013-14, we saw a 9.8% decrease in the number of canines that were in care overall. However, it was still more than 1500 dogs and puppies. Much of these numbers included strays with an overall homing/rehoming rate of 93% for canines. We are currently the only RSPCA in the country that cares for stray dogs without a Pound contract in place. The adoption rates of adult dogs and in particular the larger breed dogs with high energy needs have proven to be our greatest challenge especially in this community where block sizes are getting smaller each year. As we do not see the demand for larger breeds to increase any time soon, the RSPCA ACT team is working tirelessly to create various marketing strategies and opportunities to display the better sides of these animals, and to perhaps transfer them to other RSPCA shelters based in more rural communities. In the meantime, our overall euthanasia rates for canines have decreased from 7.9% to 6.9% of our total animals in care this year.
spent his days in the administration building. There he would be with people and still be able to be seen by vets on a daily basis for his ongoing distichiasis treatment. A few months later Gus had the ‘all clear’ from the vets. However, he had no forever home to go to yet. Gus had so much love to give, but no one would give him a chance. A few weeks on, Gus was declining again and staff were becoming worried as his mental health was becoming worse from living in the shelter environment. Thankfully, a lovely family called us wanting to meet him. It was love at first sight. A few months later Gus was back to the fun-loving, energetic dog he once was and loving life with his new family.
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Animal Care
Other Animals Most people will think about dogs and cats when they think of the RSPCA. However, our annual statistics prove that we also see everything from rats to pigs in a given year. With what seems like an endless supply of “pocket pets� in particular, we are currently looking for additional outlets such as Petbarn to help us find forever homes for these smaller pets.
This Year
Last Year
This Year
Other*
Last Year
This Year
Last Year
Reclaimed
5
15
2
3
16
5
Re-homed
118
81
72
49
85
91
In care
21
7
4
3
52
6
Euthanased
43
80
12
31
19
16
Other#
7
6
4
-
16
9
194
189
94
86
188
127
Total
84% of all other animals went home (reclaimed) or to a home (adopted)
Guinea Pigs
Rabbits
Domestic Euthanasia Reasons
Medical
28
60
12
25
9
9
Behavioural
15
20
-
6
10
7
Total
43
80
12
31
19
16
*Includes rodents, ferrets, fish, reptiles, amphibians. #Other includes: stolen, escaped and unassisted death.
Poultry
Domestic Birds This Year
Last Year
This Year
Livestock
Last Year
This Year
Last Year
Reclaimed
13
14
1
2
2
-
Re-homed
112
84
110
58
3
7
In care
12
30
1
16
1
-
Euthanased
3
4
22
16
-
-
9
10
2
13
1
-
149
142
136
105
7
7
Other# Total
Domestic Euthanasia Reasons
Medical
3
4
18
12
-
-
Behavioural
-
-
4
4
-
-
Total
3
4
22
16
-
-
#Other includes: stolen, escaped and unassisted death.
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Animal Care
Wildlife Report Animals In
Released
This Year
Last Year
This Year
Last Year
Mammals
62
21
Mammals
11
12
Marsupials
283
319
Marsupials
102
107
4
4
Monotremes Native Amphibians Native Birds
7
Monotremes
6
2
Native Amphibians
2
1
1835
1829
Native Birds
445
513
Native Reptiles
46
40 -
4
Native Reptiles
124
120
Non-Native Birds#
329
334
Non-Native Birds#
-
Non-Native Mammals*
56
25
Non-Native Mammals*
-
-
Total
2699
2657
Total
610
677
Euthanased
1626
1330‡
Other Outcomes†
530
551
#Includes: blackbirds, pigeons, Indian mynahs, sparrows and starlings. *Includes: foxes, European rabbits, brown rats and wild mice. †Includes: transferred out, escaped and unassisted death.
Wildlife Other than Queensland, RSPCA ACT is the only RSPCA that still cares for wildlife. In the last twelve months though, we have begun to work closer with ACT Wildlife for those animals requiring longer term care. Our vet staff and foster carers already have a lot to do treating and caring for these wonderful creatures. We appreciate the extra hands and homes that ACT Wildlife has within their organisation. This year’s statistics show that while the euthanasia rate has increased for wildlife, the number of unassisted deaths has decreased by 23%. This means that we were doing a much better job of making decisions about the likelihood for an animal to be rehabilitated which has reduced their suffering time substantially.
‡Ammended # - Annual Review 2012/13 showed incorrect # 1836.
Walnut’s Story At just three months old Walnut’s mother was tragically hit by a car. A passer by who found Walnut’s mother sometime after, called our after hours wildlife phone and brought her to a carer who had to cut this little guy out of his mother’s pouch. After a thorough medical check, Walnut went straight into foster care with one of our experienced wildlife carers where he has stayed for many months.
As a baby, Walnut needed a mother figure to depend on not only for food but also to bond with through lots of cuddles and affection. When he is old enough Walnut will go to a transitional facility where he will gradually become independent and ready to face life in the wild.
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Animal Care
Vet Work The Vet Clinic has seen the most changes over the last part of the financial year with all of the operational processes re-engineered around this important activity to increase animal welfare, decrease the spread of disease, and reduce the required number of animal care assistants. Furthermore, we were able to dramatically increase revenue in the last part of the financial year by changing our public clinic hours.
Veterinarian Work Public Last Year
1526
1021
263
259
Vaccinations
1648
1068
Desexing
552
491
Dentistry
187
132
Pre-Anaesthetic Bloods
170
73
Flea and Heartworm Products
600
137
Total
4946
3181
Consultations Microchips
32% of wildlife were rehabilitated; 26% released by RSPCA with the balance transferred to other rescue groups
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Shelter
This Year
This Year
Last Year
Vaccinations (Cats)
1006
805
Vaccinations (Dogs)
1126
964
Worming Doses Given
2417
1996
Desexing-Cat
1103
889
Desexing-Dog
366
296
Microchip Forms Sent Away
2757
2238
Total
8775
7288
Animal Care
Inspectorate This Year
Last Year
1061
668
Prosecutions Finalised
-
2
Number of Charges Laid
6
4
Number of People Charged
2
3
Number of Successful Prosecutions (facts proven in relation to principal charges)
-
2
Cases Pending
3
5
Complaints Investigated
Inspectorate The inspectorate was extremely busy in 2013-14 with a significant increase in calls over the previous year. While we need a second year of statistics to know if this increase in calls is a trend, with only two inspectors on board during most of that time, the increase resulted in a backlog of cases awaiting final legal action. Towards the end of the year, we added a third inspector role by reallocating resources in other areas. As a result, we were able to reduce the backlog and submit some of the older pending cases to the Director of Public Prosecutions (DPP) which have led to court dates in 2014-15. Going forward, our inspectors are reducing tolerance on repeat offenders which should increase the number of seized animals and prosecutions. In future years, we hope to fund more preventative programs like education and desexing clinics too.
93% of dogs/puppies went home (reclaimed) or to a home (adopted)
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Our People
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Our Donors
Major Donors We rely on the community to help us continue our vital work with animals in need. A big thank you to all who have supported and continue to support RSPCA ACT. Every single dollar counts. Although we would love to list all of you who donated, we simply do not have the space. We would like to thank the following people who have donated significant amounts to our mission this year. Ms Elizabeth Toledo • Dr Margaret R. Middleton • Mrs Jennifer Cleary • Mrs Gayle Philip • Mr Saul Schneider • Mrs A Whyte Mrs Margaret Enfield • Mrs Deborah Perrin • Mrs Bianca Keena • Lady Elizabeth Synnot • Mr Frank Breglec • Miss Esther Macdonald Mrs E Law-Smith • Mr Graham O’Brien • Ms Margaret Anderson • Mrs Kathryn Nelson • Mr John Bellinger • Ms Ruth Smith • Ms Roz Bruhn Mr Tom Halstead • Mrs J Harmsworth • Mrs Dilys Ketley • Mrs Pauline Bairnsfather • Ms Christa Moore • Mr Daryl Blaxland • Mr Kevin Heindl Miss Elizabeth Allen • Mrs Wendy Kupkee • Ms Merryn Coulton • Don’t Panic Plumbing Pty Ltd • Mr Michael Sassella • Mr Bruce Sinclair Mrs Claudette Chubb • Mr John Brain • Mrs Morna Vellacott • Ms Judith Hurlstone • Dr Ian Doherty • Miss Margaret Atkinson Mrs Elizabeth Khouri • Mrs Mariko Buszynski • Mrs Colleen Granleese • Ms Jillian Moses • Mr Ian Bland • Ms Marjorie Wheeler • Ms Georgina Withers Ms Antonia Chadwick • Ms Helen Bladen • Ms Pam Behncke • Ms Margaret Jones • Mr Rick Bryson • Mr John Alcock • Ms Rachael Henson Mr William Laurie • Mrs June Howard • Ms Sanora Dell
84% of domesticated cats went home (reclaimed) or to a home (adopted) 15
Our Partners
16
Event Sponsors
Our Supporters
17
Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
Royal Society for the Prevention of Cruelty to Animals (ACT) Incorporated
(Incorporated in the Australian Capital Territory under the Associations Incorporation Act 1991)
ABN 35 730 738 037
General Purpose (Reduced Disclosure Requirements)
Financial Report for the year ended 30 June 2014
ii
CONTENTS Council Report ................................................................................................................... 1 Independent Audit Report ................................................................................................. 4 Statement by Members of the Council .............................................................................. 6 Statement of Comprehensive Income ............................................................................... 7 Statement of Financial Position ........................................................................................ 8 Statement of Cash Flows................................................................................................... 9 Statement of Changes in Equity...................................................................................... 10 Notes to the Financial Statements .................................................................................. 11
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
Council Report The Council presents this report on the Royal Society for the Prevention of Cruelty to Animals (ACT) Incorporated “the Association” for the financial year ended 30 June 2014. Council Membership The Council is responsible for the management of the Association. The Council members in office during the financial year and at the date of this report are: President Secretary Treasurer Other Members:
Ms Louise Douglas Ms Paula Shinerock Ms Kasy Chambers Ms Amanda Cattermole Ms Cathleen Timbs Ms Susan Black Mr Andrew Lander
Principal Activities The principal activities of the Association during the financial year were those of advocacy and veterinary services for and on behalf of, all animals within Australia with emphasis on the ACT. The Association is actively involved in
operating an animal cruelty inspectorate
operating an animal shelter
providing a dedicated rescue, rehabilitation and release program for injured or orphaned wild animals
operating a veterinary clinic
delivery of a public dog and puppy training school
operating a retail shop.
Significant Changes Total investment reserves reduced to $453,233 from $930,280, a reduction of $477,047. The movement was to fund the Association’s operations and manage its resources. Our new Chief Executive Officer (“CEO”), Tammy Ven Dange, with our support made a number of significant operational and personnel changes including eliminating 17 roles in the organisational structure, identifying new revenue streams such as more fundraising events and increasing the Association’s communications with the ACT government and local veterinarian clinics. These changes are discussed in further detail below.
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
Council Report (continued) Financial Result The net deficit of the Association for the financial year ended 30 June 2014 was $551,484 (2013: surplus $92,612). There is no doubt that the 2014 financial year was a tough year for the Association, with the local economic downturn following the federal elections, significant executive management changes, staff moral challenges and related poor media coverage. These factors resulted in a current financial year financial loss of $0.55 million and net assets dropping from $1.1 million in 2013 to $0.42 million at the end of the current financial year. This has also had a significant impact on the Associations cash flows, forcing the sale of some of our fixed interest securities and listed shares to cover the deficit. In February this year Tammy Ven Dange was appointed as our new CEO and with council support proceeded to make a number of significant operational and personal changes to move RSPCA ACT back into good financial health. These included: · · · · ·
Making significant improvements to the Associations operational processes, resulting in immediate efficiency gains and lowering forecasted costs while still delivering quality of care for the animals; Eliminating 17 roles in the organisational structure decreasing payroll costs from 70% of the budget to 59.3%; Generating additional revenue through the Vet Clinic; Identifying new revenue streams with minimal investment such as more fundraising events throughout the year And increased its communications with the ACT government and local veterinarian clinics to reduce the amount of non-mission related work, again lowering costs.
These changes are already taking effect and are forecast to have a positive impact to the organisation, with our 2014-15 budget showing a small surplus. While the Association in its present form is primarily dependent on funding from fundraising events such as the million paws walk, generous donations from the public and a small amount of funding from the government, we are confident that these existing factors along with our changes ensures RSPCA ACT has appropriate funds in the long term to meet its debts as they fall due and payable. After the Balance Date Events No matters or circumstances have arisen since the end of the financial year that significantly affected or may significantly affect the operations of the Association, the results of those operations, or state of affairs of the Association in future financial years. This report is provided in accordance with a resolution of the Council and is signed for and on behalf of the members of the Council by the President, Louise Douglas. Likely Developments and Expected Results The future operation of the Association involves the continued pursuit of its principal activities and financial stability. Employees The Association employed 47 employees as at 30 June 2014 (2013: 57 employees).
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
Council Report (continued) Non-audit services The following non-audit services were provided by the Association’s auditor, Ernst & Young: Assistance with the preparation of the financial report $3,500. The members are satisfied that the provision of non-audit services is compatible with the general standard of independence for auditors imposed by APES 110 Code of Ethics for Professional Accountants. The nature and scope of each type of non-audit service provided means that auditor independence was not compromised. This report is provided in accordance with a resolution of the Council and is signed for and on behalf of the members of the Council by:
President:
Louise Douglas (President)
Dated:
28 October 2014
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
Statement of Comprehensive Income FOR THE YEAR ENDED 30 JUNE 2014
Revenue
Note
3
Costs of goods sold
2014 $
2013 $
3,879,188
3,922,151
(335,603)
(280,755)
Depreciation expense
4a
(115,956)
(111,497)
Salary and employee benefits expenses
4b
(2,712,602)
(2,400,038)
Other expenses
4c
(1,266,511)
(1,037,250)
(551,484)
92,611
−
−
Net surplus/(deficit) after income tax expense
(551,484)
92,611
Other comprehensive income Unrealised gain on available-for-sale investments
85,579
145,915
Total other comprehensive income for the period
85,579
145,915
(465,905)
238,526
Net surplus/(deficit) before income tax expense Income tax expense
Total comprehensive surplus/(deficit) attributable to members of the Association
2h
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
Statement of Financial Position AS AT 30 JUNE 2014
2014 $
2013 $
122,794 94,200 54,760 18,710
45,782 469,601 107,397 84,043
290,464
706,823
453,233 173,477
930,280 432,206
TOTAL NON-CURRENT ASSETS
626,710
1,362,486
TOTAL ASSETS
917,174
2,069,309
346,272 138,361 −
422,312 173,323 295,000
484,633
890,635
31,012
24,354
31,012
24,354
TOTAL LIABILITIES
515,645
914,989
NET ASSETS
401,530
1,154,320
216,625 184,905
417,931 736,389
401,530
1,154,320
CURRENT ASSETS Cash and cash equivalents Trade and other receivables Inventory Prepayments
Note
5 6
TOTAL CURRENT ASSETS NON-CURRENT ASSETS Available-for-sale investments Property, plant and equipment
CURRENT LIABILITIES Trade and other payables Provisions Deferred Income
7 8
9 10
TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Provisions
10
TOTAL NON-CURRENT LIABILITIES
EQUITY Equity attributable to members of the Association Net unrealised gain reserve Accumulated surplus TOTAL EQUITY
11
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
Statement of Cash Flows FOR THE YEAR ENDED 30 JUNE 2014
Note
2014 $
2013 $
3,613,455 (4,114,747) 2,214 57,036 (442,042)
3,803,184 (3,706,108) 5,889 63,612 166,577
(442,042)
166,577
CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers, government and others Payments to suppliers and employees Interest received Dividends received
NET CASH FLOWS (USED IN)/FROM OPERATING ACTIVITIES
5 (b)
CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from disposal of available-for-sale investments Payments for available-for-sale investments Payments for property, plant and equipment
568,888
44,897
− (49,833)
(97,712) (133,214)
NET CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES
519,055
(186,029)
Repayment of loan
−
−
NET CASH FLOWS USED IN FINANCING ACTIVITIES
−
−
77,012 45,782
(19,452) 65,234
122,794
45,782
CASH FLOWS FROM FINANCING ACTIVITIES
Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of the year CASH AND CASH EQUIVALENTS AT END OF THE YEAR
5 (a)
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
Statement of Changes in Equity FOR THE YEAR ENDED 30 JUNE 2014 Accumulated Surplus
Net Unrealised Gain Reserve (Note 11) $
$ AT 30 JUNE 2012 Other comprehensive income Surplus for the year Total comprehensive loss for the period AT 30 JUNE 2013 Transfer of realised gains to the statement of comprehensive income on disposal of available-for-sale investments Unrealised (loss)/gain on availablefor-sale investments Deficit for the year Total comprehensive income for the period AT 30 JUNE 2014
Total Equity $
643,778
272,016
915,794
− 92,611
145,915 −
145,915 92,611
92,611
145,915
238,526
736,389
417,931
1,154,320
(286,885)
(286,885)
− (551,484)
85,579 −
85,579 (551,484)
(551,484)
(201,306)
(752,790)
−
184,905
216,625
401,530
Page | 10
Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
Notes to the Financial Statements For the year ended 30 June 2014 NOTE 1 – CORPORATE INFORMATION The Royal Society for the Prevention of Cruelty to Animals (ACT) Incorporated (“the Association”) is domiciled in Australia and is a not-for-profit organisation. The Association is incorporated under the Associations Incorporation Act 1991(ACT) and is an incorporated Association. The financial report of the Association for the year ended 30 June 2014 was authorised for issue in accordance with a resolution of the members on 28 October 2014. The nature of the operations and principal activities of the Association are described in the Council report. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a)
Basis of preparation
The general purpose financial report has been prepared in accordance with the Association Incorporation Act 1991 (ACT), Australian Accounting Standards – Reduced Disclosure Requirements and other mandatory professional reporting requirements. The financial report has also been prepared on a historical cost basis, except for available-for-sale investments, which have been measured at fair value. The financial report is presented in Australian dollars. (b)
Going concern
The financial report has been prepared on the going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and settlement of liabilities in the normal course of business. The Association made an operating deficit for the year of $551,484 (2013: surplus of $92,611). The balance of cash and cash equivalents at 30 June 2014 is $122,794 (2013: $45,782). The balance of available-for-sale investments at 30 June 2014 is $453,233 (2013: $930,280). The ability of the Association to continue as a going concern is dependent on the Association’s ability to meet its debts as and when they fall due. The Association has prepared forecasts for the next twelve months that indicate the Association will be able to meet its debts as and when they fall due. These forecasts are based on a number of assumptions in particular about the Association’s ability to secure sufficient levels of recurring annual revenue to cover budgeted annual operating expenditure, or accessing sufficient additional funds through liquidation of current investments held should the need arise. On the basis of net assets at reporting date, the Members of the Council believe there are reasonable grounds the Association will be financially secure for the next 12 months. However, should the Association strategies aimed at securing sufficient recurring annual revenue be unsuccessful, leading to a depletion in cash and investment reserves, there is significant uncertainty whether the consolidated entity would continue as a going concern and therefore whether it would realise its assets and extinguish liabilities in the normal course of business and at amounts stated in the financial statements. The financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts or to the amounts and classification of liabilities that might be necessary should the consolidated entity not continue as going concern.
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (c)
New Accounting Standards and Interpretations
Adoption of new Australian Accounting Standard requirements The Association has adopted the following new Standard issued by the Australian Accounting Standards Board (AASB) that is effective for the current annual reporting period. Other Australian Accounting Standards and Interpretations issued or amended that are applicable to the current reporting period did not have a financial impact in the financial statements or performance of the Association, and are not expected to have a future financial impact on the Association. AASB 13 Fair Value Measurement establishes a single source of guidance for determining the fair value of asset and liabilities. AASB 13 does not change when an entity is required to use fair value, but rather, provides guidance on how to determine fair value when fair value is required or permitted. Application of this definition may result in different fair values being determined for the relevant assets. AASB 13 also expands the disclosure requirement for all assets or liabilities carried at fair value. This includes information about the assumptions made and the qualitative impact of those assumptions on the fair value determined. Future Australian Accounting Standard requirements Australian Accounting Standards and Interpretations that have recently been issued or amended but are not yet effective have not been adopted by the Association for the annual reporting period ended 30 June 2014. It is anticipated that the new requirements will have no material financial impact on future reporting periods. (d)
Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand and short-term deposits with an original maturity of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. For the purposes of the statement of cash flows, cash and cash equivalents consists of cash and cash equivalents as defined above, net of outstanding bank overdrafts. (e)
Trade and other receivables
Trade receivables, which generally have 30-day terms, are recognised and carried at original invoice amount less an allowance for any uncollectable amounts. An allowance for doubtful debts is made when there is objective evidence that the Association will not be able to collect the debts. Bad debts are written off when identified. (f)
Investments and other financial assets
Financial assets in the scope of AASB 139 Financial Instruments: Recognition and Measurement are classified as either financial assets at fair value through profit or loss, loans and receivables, held-tomaturity investments, or available-for-sale investments, as appropriate. When financial assets are recognised initially, they are measured at fair value, plus, in the case of investments not at fair value through profit or loss, directly attributable transactions costs. The Association determines the classification of its financial assets after initial recognition and when allowed and appropriate, reevaluates this designation at each financial year-end. (i)
Financial assets at fair value through profit or loss
Financial assets classified as held for trading are included in the category “financial assets at fair value through profit or loss�. Financial assets are classified as held for trading if they are acquired for the purpose of selling in the near term. Derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on investments held for trading are recognised in profit or loss.
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (ii)
Held-to-maturity Investments
Non-derivative financial assets with fixed or determinable payments and fixed maturity are classified as held-to-maturity when the Association has the positive intention and ability to hold to maturity. Investments intended to be held for an undefined period are not included in this classification. Investments that are intended to be held-to-maturity, such as bonds, are subsequently measured at amortised cost. This cost is computed as the amount initially recognised minus principal repayments, plus or minus the cumulative amortisation using the effective interest method of any difference between the initially recognised amount and the maturity amount. This calculation includes all fees and points paid or received between parties to the contract that are an integral part of the effective interest rate, transaction costs and all other premiums and discounts. For investments carried at amortised cost, gains and losses are recognised in profit or loss when the investments are derecognised or impaired, as well as through the amortisation process. (iii)
Loans and receivables
Loans and receivables including loan notes and loans to key management personnel are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Such assets are carried at amortised cost using the effective interest method. Gains and losses are recognised in profit or loss when the loans and receivables are derecognised or impaired. These are included in current assets, except for those with maturities greater than 12 months after balance date, which are classified as non-current. (iv)
Available-for-sale investments
Available-for-sale investments are those non-derivative financial assets that are designated as availablefor-sale or are not classified as any of the three preceding categories. After initial recognition, availablefor-sale investments are measured at fair value with gains or losses being recognised as a separate component of equity called “net unrealised gain reserve” until the investment is derecognised or until the investment is determined to be impaired, at which time the cumulative gain or loss previously reported in equity is recognised in the statement of comprehensive income. The fair value of investments that are actively traded in organised financial markets is determined by reference to quoted market bid prices at the close of business at the reporting date. For investments with no active market, fair value is determined using valuation techniques. Such techniques include using recent arm’s length market transactions; reference to the current market value of another instrument that is substantially the same; discounted cash flow analysis and option pricing models. (g)
De-recognition of financial instruments
The de-recognition of a financial instrument takes place when the Association no longer controls the contractual rights that comprise the financial instrument, which is normally the case when the instrument is sold, or all the cash flows attributable to the instrument are passed through to an independent third party.
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (h)
Property, plant and equipment
Cost Plant and equipment is stated at cost less accumulated depreciation and any accumulated impairment losses. Depreciation Depreciation is provided on a straight-line basis or diminishing value over the estimated useful life of the assets as follows: (i)
Furniture and equipment: 5 years
(ii)
Fixtures and fittings: 10 years
(iii)
Computer equipment and software: 4 years
(iv)
Motor vehicle: 5 years
(v)
Building: 40 years
The assets’ residual values, useful lives and amortisation methods are reviewed, and adjusted if appropriate, at each financial year-end. Impairment The carrying values of plant and equipment are reviewed for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. The recoverable amount of plant and equipment is the greater of fair value less costs to sell and value in use. Value in use is the depreciated replacement cost of an asset when the future economic benefits of the asset are not primarily dependent on the asset’s ability to generate net cash inflows and where the Association would, if deprived of the asset, replace its remaining future economic benefits. Impairment losses are recognised in the statement of comprehensive income. (i)
Taxes
Income Tax The Association is exempt from income tax in accordance with Section 50-40 of the Income Tax Assessment Act 1997. Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST except: (i)
where the GST incurred on a purchase of goods and services is not recoverable from the taxation authority, in which case the GST is recognised as part of the cost of acquisition of the asset or as part of the expense item as applicable; and
(ii)
receivables and payables are stated with the amount of GST included.
The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the statement of financial position. Cash flows are included in the statement of cash flows on a gross basis and the GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to the taxation authority, are classified as operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to the taxation authority.
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (j)
Trade and other payables
Trade payables and other payables are carried at amortised cost and represent liabilities for goods and services provided to the Association prior to the end of the financial year, which are unpaid and arise when the Association becomes obliged to make future payments in respect of the purchase of these goods and services. The amounts are unsecured and usually paid within 30 days of recognition. (k)
Employee benefits
Provision is made for employee benefits accumulated as a result of employees rendering services up to the reporting date. These benefits include wages and salaries, annual leave and long service leave. Liabilities arising in respect of wages and salaries, annual leave and any other employee benefits expected to be settled within twelve months of the reporting date are measured at their nominal amounts based on remuneration rates that are expected to be paid when the liability is settled. All other employee benefits liabilities are measured at the present value of the estimated future cash outflows to be made in respect of services provided by employees up to the reporting date. In determining the present value of future cash outflows, the market yields as at the reporting date on national government bonds with terms to maturity approximating the terms of the related liability, are used. Employee benefits expenses and revenues arising in respect of the following categories: (i)
wages and salaries, non-monetary benefits, annual leave, long service leave and other leave entitlements; and
(ii)
other types of employee benefits
are charged against operating results in their respective categories. The contributions made to superannuation funds are charged to the statement of comprehensive income. Superannuation Commitments Employees contribute to external superannuation funds at various percentages of their wages and salaries. Contributions by the Association of not less than 9% of employees’ wages and salaries are legally enforceable in Australia and were paid. (l)
Leases
Operating lease payments are recognised as an expense in the statement of comprehensive income on a straight-line basis over the lease term. Operating lease incentives are recognised as a liability when received and subsequently reduced by allocating lease payments between rental expense and reduction of the liability.
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (m)
Revenue Recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the entity and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognised. Sale of goods Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer and can be measured reliably. Risks and rewards are considered passed to the buyer at the time of delivery of the goods to the customer. Rendering of services Revenue from rendering of services is recognised when control of a right to be compensated for the services has been attained and the stage of completion of the service contract can be reliably measured. Stage of completion is measured by reference to the services performed to date as a percentage of total estimated services to be performed for each contract. If a contract outcome cannot be reliably measured, revenue is recognised only to the extent that costs have been incurred. Interest revenue Revenue is recognised as interest accrues using the effective interest method. This is a method of calculating the amortised cost of a financial asset and allocating the interest income over the relevant period using the effective interest rate, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to the net carrying amount of the financial asset. Dividends Revenue is recognised when the right to receive the payment is established. Membership fees The Association charges annual fees to its RSPCA members. The fixed annual membership fee is required to be paid by a member if they intend to maintain a membership. Membership fee revenue is recognised upon receipting. Fundraising Fundraising income is recognised when the RSPCA obtains control of the funds. Government grants and other contribution from community Revenue is recognised when the Association receives an asset, including the right to receive cash or other forms of asset without directly giving approximately equal value to the other party or parties to the transfer. Contributions received or receivable are recognised immediately as revenue when the Association obtains control of the contributions, it is possible that the economic benefits comprising the contribution will flow to the Association and the amount of the contribution can be measured reliably.
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) (n)
Provisions
Provisions are recognised when the Association has a present obligation (legal or constructive) as a result of a past event. It is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Where the Association expects some or all of a provision to be reimbursed, the reimbursement is recognised as a separate asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in the statement of comprehensive income net of any reimbursement. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. (o)
Other Resources Received Free of Charge
Resources received free of charge are recognised as gains when, and only when, a fair value can be reliably determined and the services would have been purchased if they had not been donated. Use of those resources is recognised as an expense. Contributions of assets at no cost of acquisition or for nominal consideration are recognised as gains at their fair value when the asset qualifies for recognition. (p)
Significant accounting judgments, estimates and assumptions
The preparation of financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other various factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The following estimates and assumptions were used in the preparation of the financial report: Provisions for employee benefits Provisions for employee benefits payable after 12 months from the reporting date are based on future wage and salary levels, experience of employee departures, and periods of service. The amount of these provisions would change should any of these factors change in the next 12 months. Valuation of investments The Association has decided to classify investments in securities as ‘available-for-sale’ financial investments and record them in accordance with the policy described at note 2(f)(iv).
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
2014 $
2013 $
NOTE 3 - REVENUE Retail sales Grants from government Sponsorship Fundraising and membership fees Events Dividend income Interest income Net gain on disposal of PPE Realised gain on disposal of available-for-sale investments Bequests Veterinary clinic sales Other Total
1,086,881 590,000 61,266 1,085,848 106,371 57,036 2,214 286,885 155,978 445,418 1,291 3,879,188
1,059,399 598,500 106,527 1,106,256 212,283 63,612 5,889 7,946 433,046 312,718 15,975 3,922,151
115,956 115,956
111,497 111,497
(b) Salary and Employee Benefits Expenses Salaries and wages Superannuation expense Provision for employee benefits Total
2,357,747 207,168 147,687 2,712,602
2,135,182 194,463 70,393 2,400,038
(c) Other Expenses Sheltering expense Fundraising expense and advertising Facility and equipment IT communication Professional fee Bad debts Discount Asset Devaluation Expense General expense Loss miscellaneous expenses Total
311,775 144,805 225,848 94,664 70,961 19,303 398,140 1,015 1,266,511
271,036 90,316 278,395 93,299 14,862 21,730 267,612 1,037,250
NOTE 4 - EXPENSES (a) Depreciation Expense Plant and equipment Total
Page | 18
Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
2014 $
2013 $
1,500 121,294 122,794
1,500 44,282 45,782
NOTE 5 - CASH AND CASH EQUIVALENTS (a)
Reconciliation of cash
Cash on hand Cash at bank Total
Cash at bank earns interest at floating rates based on daily bank deposit rates.
(b)
Reconciliation of net surplus/(deficit) to net cash flows from/(used in) operating activities:
Net (deficit)/surplus
(551,484)
92,611
Adjustments to reconcile net surplus (deficient) to net cash flows from operating activities: Depreciation Other non-cash items Net (gain) on disposal of property and equipment Realised (gain) on disposal of available-for-sale investments
115,956 74,413 − (286,885)
111,497 − (7,946) −
Changes in assets and liabilities Trade and other receivables Prepayments Inventory Asset Held for Sale Trade and other payables Provision Deferred Income Net cash flows (used in)/from operating activities
375,402 65,333 52,637 − (76,041) 83,627 (295,000) (442,042)
(335,713) (79,375) (47,419) 22,041 80,759 35,122 295,000 166,577
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
2014 $
2013 $
78,895 15,305 94,200
434,079 35,522 469,601
NOTE 6 - TRADE AND OTHER RECEIVABLES Current Trade receivables Other debtors Total Ageing analysis of receivables
Total
2014 2013
94,200 469,601
0-30 days
31-60 days PDNI*
30,710 416,820
16,510 12,866
61-90 Days PDNI*
+91 days PDNI*
10,374 13,647
+91 Days CI**
36,606 26,268
-
* Past due not impaired (PDNI) ** Considered impaired (CI) Receivables past due but not considered impaired are $63,490 (2013:$ 52,781). Management is satisfied that payment will be received in full. Receivables past due but considered impaired are nil (2013: Nil). NOTE 7 - AVAILABLE-FOR-SALE INVESTMENTS At fair value: Fixed interest securities Listed shares Total
101,393 351,840 453,233
175,095 755,185 930,280
Available-for-sale investments consist mainly of fixed interest securities and listed shares and therefore have no fixed maturity date or coupon rate. The fair value of the available-for-sale investments is based on market data that is observable and therefore classified as level one financial instruments. The following table provides the fair value measurement hierarchy of the available-for-sale investments. Quantitative disclosures fair value measurement hierarchy as at 30 June 2014:
At fair value: Fixed interest securities Listed shares Total
Date of valuation
Total
30 June 2014 30 June 2014
101,393 351,840 453,233
Fair value measurement using Quoted prices Significant Significant in active observable unobservable markets inputs inputs (Level 1) (Level 2) (Level 3) 101,393 351,840 453,233
-
-
-
-
-
-
Quantitative disclosures fair value measurement hierarchy as at 30 June 2013:
At fair value: Fixed interest securities Listed shares Total
Date of valuation
Total
30 June 2013 30 June 2013
175,095 755,185 930,280
Fair value measurement using Quoted prices Significant Significant in active observable unobservable markets inputs inputs (Level 1) (Level 2) (Level 3) 175,095 755,185 930,280
-
-
-
-
-
-
Page | 20
Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
2014 $
2013 $
253,252
251,028
(250,681) 2,571
(227,044) 23,984
531,977
498,211
(445,386) 86,591
(405,902) 92,309
1,359,599
1,951,008
(1,337,634) 21,965
(1,704,639) 246,369
NOTE 8 - PROPERTY, PLANT AND EQUIPMENT Computer Equipment and Software - At cost Accumulated depreciation and impairment Net carrying amount Furniture and Fitting - At cost Accumulated depreciation and impairment Net carrying amount Building and Fixtures - At cost Accumulated depreciation and impairment Net carrying amount Motor Vehicles - At cost Accumulated depreciation and impairment Net carrying amount
135,296
131,648
(72,946) 62,350
(62,104) 69,544
Total Property, Plant and Equipment
173,477
432,206
Reconciliations Carrying amount at beginning of the year Additions Disposals Depreciation expense Carrying amount at end of the year
432,206 49,834 (192,607) (115,956) 173,477
447,440 133,214 (36,951) (111,497) 432,206
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
2014 $
2013 $
NOTE 9 - TRADE AND OTHER PAYABLES Current Trade creditors Accrued expenses Superannuation PAYG withholding Other payable Total Current Non-Current Other payable Total Non-Current Total Trade and Other Payables
237,933 25,484 30,895 35,842 51,465 346,272
287,540 36,614 17,610 3,950 76,598 422,312
− −
-
346,272
422,312
104,417 33,944 138,361
122,790 50,533 173,323
31,012 31,012
24,354 24,354
169,373
197,677
NOTE 10 - PROVISIONS Current Annual Leave Long service leave Non-Current Long-service leave Total Nature and timing of provisions (i)
Annual leave and long service leave Refer to note 2 (k) for the relevant accounting policy and a discussion of the significant estimations and assumptions applied in the measurement of this provision.
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
NOTE 11 –NET UNREALISED GAIN RESERVE (a)
Movements in the Net Unrealised Gain Reserve was as follows:
At 1 July 2013 Unrealised (loss)/gain on available-for-sale investments At 30 June 2013 Transfer of realised gains to the statement of comprehensive income on disposal of available-for-sale investments Unrealised (loss)/gain on available-for-sale investments At 30 June 2014 (b)
$ 272,016 145,915 417,931 (286,885) 85,579 216,625
Nature and purpose of the Net Unrealised Gain Reserve
This reserve records movements in the fair value of available-for-sale investments. NOTE 12 – EVENTS AFTER THE REPORTING DATE There have been no significant events that have occurred subsequent to 30 June 2014. NOTE 13 – RELATED PARTY AND KEY MANAGEMENT PERSONNEL DISCLOSURES (a)
Members of the Council in office during the year are disclosed in the Council’s report that accompanies these financial statements. Key management personnel include the Chief Executive Officer, the Executive Manager Corporate Services, the Chief Financial Officer and the Executive Manager Training and Compliance, Executive Manager Animal Welfare, Manager Marketing and Promotion and Executive Manager Fundraising and Communication.
(b)
Key Management Personnel Compensation
The aggregate remuneration paid to key management personnel during the financial year is as follows:
Short-term benefits Cash salary Cash bonus Superannuation Allowances Total (c)
2014 $
2013 $
618,834 41,033 28,531 688,398
519,335 23,722 46,900 4,992 594,949
The association has no dealings with any other related parties.
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Royal Society For The Prevention Of Cruelty To Animals (ACT) Incorporated
2014 $
2013 $
NOTE 14 – REMUNERATION OF AUDITORS Amounts received or due and receivable by the auditors of the Association for: An audit of the financial report Financial report preparation assistance Total
7,500 3,500 11,000
6,825 3,150 9,975
NOTE 15 – EXPENDITURE COMMITMENTS The association has no expenditure commitments as at 30 June 2014 (2013: Nil).
NOTE 16 – ASSOCIATION DETAILS The registered office of the Association is: Royal Society for the Prevention of Cruelty to Animals (ACT) Incorporated 12 Kirkpatrick Street Weston ACT 2611
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RSPCA ACT 12 Kirkpatrick Street Weston ACT 2611 02 6287 8100 rspca-act.org.au rspca@rspca-act.org.au ABN: 35 730 738 037