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ANNUAL REPORT 2009/2010

25 YEARS OF ACCA Founded December 1985


Australasian Cemeteries and Crematoria Association


Table of Contents 2 Introduction by President Brendan O’Connor 3 The ACCA Board 3 Board Meetings 3 Contracted Services / Staffing Board and Committee Activity:

4

ACCA Guidelines & Policies

4

ACCA Branches Proposal

4 National Training 4 Award Modernisation 4 Corporate Partnerships 4 ACCA Website 5 China Expo 6 Finance 8 Membership 10 Conference 2009 10 Conference 2010 10 Mid-Year Seminar 2010 10 The Year Ahead 2010/2011 11 Audited Financial Report 26 ACCA Vision, Mission, Values and Goals

ANNUAL REPORT 2009/2010

1


INTRODUCTION President Brendan O’Connor

The annual conference held in Sydney in conjunction with the International Cremation Federation proved successful and was well received by all who attended. The spectacular setting of the Sydney Harbour together with high calibre speakers and support from the many trade exhibitors provided for quality business and networking opportunities. We now turn our attention to the 2010 conference, which will be staged in the Esplanade Hotel Fremantle, and with the expectation that the event will be a success similar to that of Sydney. Planning for the 2011 conference is also well underway with the Association accepting an invitation from the Wellington Tourism Board New Zealand to conduct the conference in Wellington. Executive Officer, Ken Manders & Events Coordinator, Katrina Bachnik were afforded the opportunity to tour the many venues on offer and following Board approval, preliminary work has commenced. While in New Zealand our EO accepted an invitation to present a paper to the inaugural cemeteries and crematoria conference facilitated by the New Zealand Recreation Association. ACCA is pleased to receive continued member interest and support from our kiwi colleagues. It should be noted that New Zealand figures prominently in all working party (SINA) discussions.

On behalf of the Australasian Cemeteries & Crematoria Association I have pleasure in presenting to you the Annual report for 2009 – 2010. During this past year the Australasian Cemeteries and Crematoria Association has functioned successfully to meet the needs of its members. Along with the regular operating challenges that present themselves, we were also faced with the uncertainty of the volatile economic climate. The 2009 AGM in Sydney saw President Darryl Thomas complete his second year of a very successful term of office and Vice President Eric Heapy regrettably stepping down from the Board due to work commitments. I was privileged to be elected to the position of President along with Bryan Elliott as Vice President. We also welcomed to the Board for the first time, Peter Deague from Western Australian and Karen Hinrichsen (first female Board member) from Queensland securing two year terms. Michael McMahon from New South Wales and immediate past President Darryl Thomas from Victoria secured one year terms joining Armen Mikaelian from New South Wales completing the second year of his term. With representatives from all corners of the country we are fortunate to have a Board that represents a wide cross section of the national industry. The subject of state branches of a national Association has been a topic of much discussion for many years. It has widely been viewed as the way forward, however for one reason or another progression of the concept has usually not been a priority. I am pleased to report that over the past twelve months and following on from the think tank meeting held mid 2009, a working party was successfully formed with representatives from all state associations. The working party has since developed a concept model for a single national association (SINA) and has invited member comment as the next part of the process.

The 2010 midyear conference “A Winning Attitude” was held on the Gold Coast with Eric Bailey and Vicki Bennett presenting. Although numbers were down a little on previous years the event was extremely well received by all delegates. Eric Bailey in particular was an extremely popular presenter, despite the many huffs and the puffs from delegates. In June 2010 ACCA was represented by the Vice President and Executive Officer along with a number of ACCA members, at the 4th China International Funeral Expo (CIFE) in Beijing. ACCA & Association Platinum Partner, Arrow Bronze jointly presented to delegates during an extremely busy, yet successful conference. The Australian contingent was also treated to tour of many splendid cemeteries in Beijing and Shanghai. It is with much regret that I announce I will be standing down as President at this AGM. I would like to take this opportunity to thank the members of our fine Association for their support and encouragement during my term. The Association is continuing to grow and broaden its outlook, which will ensure continued success. To have had the opportunity to lead the association and work with successive boards over the last five years has been a true highlight for me. The Board and ultimately the Association would not operate without the assistance of our Executive Officer Ken Manders and Events and Member Services Co-ordinator, Katrina Bachnik. Thank you both for your support, dedication and encouragement. I also congratulate Katrina on her marriage during the year.

Brendan O’Connor President.

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Australasian Cemeteries and Crematoria Association


Members of the ACCA Board at 30 June 2010

Board Member Meetings Date and location of meetings 10 and 11 August 2009,

Melbourne

14 October 2009,

Sydney

16 November 2009,

Melbourne

15 February 2010,

Fremantle

3 May 2010,

Melbourne

Board Member Attendance Brendan O’Connor President

Peter Deague Director

Bryan Elliott Vice President

Karen Hinrichsen Director

Number of meetings held during the financial year: 5 Number of meetings attended by:

Meetings held during term

Meetings attended

Graeme Cummins

1

1

Peter Deague

4

4

Bryan Elliott

5

4

Eric Heapy

1

1

Karen Hinrichsen

4

4

Michael McMahon

4

4

Armen Mikaelian

5

5

Brendan O’Connor

5

5

Darryl Thomas

5

5

Contracted Services:

Michael McMahon Director

Armen Mikaelian Director

Helena Hu (Quinlan Bookkeeping Services), provided contracted book-keeping services to ACCA during the reporting period, with quarterly financial reviews undertaken by Pauline Laffan of PLC Accountants & Advisers.

Helena Hu Darryl Thomas Director

Ken J Manders Company Secretary

Members of the ACCA Board throughout the 2009/2010 year and at the date of this report G. Cummins P. Deague B. Elliott E. Heapy K. Hinrichsen M. McMahon A. Mikaelian B. O’Connor D. Thomas

01/07/2009 - 14/10/2009 14/10/2009 - 30/06/2010 01/07/2009 - 30/06/2010 01/07/2009 - 14/10/2009 14/10/2009 - 30/06/2010 14/10/2009 - 30/06/2010 01/07/2009 - 30/06/2010 01/07/2009 - 30/06/2010 01/07/2009 - 30/06/2010

Staff: Ken J Manders Executive Officer

Katrina Bachnik Events and Member Services Coordinator

ANNUAL REPORT 2009/2010

3


Board and Committee Activity:

National Training

ACCA Guidelines

ACCA has received a joint proposal from Northern Sydney Institute TAFE (NSI) and TAFESA Adelaide (TANI) to develop, implement and deliver a national training program to the Funeral Services Industry in:

All existing ACCA Guidelines, the majority of which were assessed during 2004, were fully reviewed and rewritten by TABS with reissue date, June 2009 as reported last year. A new guideline on Natural Burials, developed during this recent year was published and posted on the ACCA web-site in February 2010. A further new guideline “A Guide to Good Governance” has also been completed and posted on to the ACCA website. Appreciation is extended to Messrs Bruce Macumber, Peter MacLean and Lawrie Miller for their significant work in preparation of this valuable resource.

Certificate III in Cemetery and Crematoria Operations, and Certificate III in Grave digging, Grounds and Maintenance.

ACCA Policies

NSI and TANI propose to be ACCA’s endorsed, preferred training providers and coordinators, delivering funeral services training to members across Australia. The joint arrangement strengthens the proposal to ensure provision of resources, validation of assessments, quality control and rapid responses across Australia.

All ACCA Policies (Board – Internal) have been reviewed and rewritten during this financial year.

Negotiations over the delivery and timing of the program are currently underway.

ACCA Branches Proposal

Award Modernisation

During recent visitations to States for General and Annual Meetings, and to New Zealand for their conference, ACCA board members or the EO presented on the current activities of the association, with particular emphasis on the progress of the review of the Single National Association (previously known as ACCA Branches) proposal.

The Cemetery Industry Award 2010 commenced on 1 January 2010. This award can be accessed and downloaded on the Fair Work Australia web site – www.fwa.gov.au

The Working Party (WP) established for this review has met more than once, and although still very much in its infancy, the project is receiving positive responses throughout. A Vision Statement has been prepared: “TO BE THE PEAK INDUSTRY BODY OF AUSTRALASIA, EMPOWERING AND LOBBYING FOR THE HIGHEST STANDARDS AND ETHICS IN CEMETERIES AND CREMATORIA.” Various models are still being discussed, and the WP is eager to receive input from members throughout this stage, after which independent consultants may be commissioned to further the review process.

Corporate Partnerships New Corporate Partnerships packages were developed for 2010 and sincere appreciation is afforded to: PLATINUM PARTNER – Arrow Bronze GOLD PARTNER – Phoenix Foundry SILVER PLUS PARTNER – Austeng Engineering SILVER EXTRA - Enabling BRONZE PARTNER – Norwalk

ACCA Website The renewed ACCA website launched early in 2009, continues to develop into the most efficient communication resource for members and industry partners. For the first time, it is proposed to load this Annual Report on to the site in E-Mag format, for the convenience of Members. ACCA encourages the input and suggestions of its members.

4

Australasian Cemeteries and Crematoria Association


Chinese International Funeral Expo In June, Vice President, Bryan Elliott and Executive Officer Ken Manders represented ACCA at the 11th FIAT-IFTA Convention held in Beijing and Shanghai, China, cosponsored by the Chinese Funeral Association and in conjunction with the 4th Chinese International Funeral Expo. Also attending and subsidised by their employers were Karen Hinrichsen (Toowoomba Garden of Remembrance) and Darryl Thomas (Geelong Cemeteries Trust). Shirley Cooke, representing Platinum Corporate Sponsor, Arrow Bronze joined ACCA at the Expo, in which over 4,000 delegates attended. Our information brochures, conference details and copies of ACCA News were popular and were rapidly collected by the enthusiastic delegates as they ‘swarmed in waves’ throughout the huge expo halls – known as The Cultural Palace of Nationalities. During the convention we were fortunate to visit some of the famous and amazing cemeteries throughout the two cities and these visits provided an opportunity to meet and discuss the rituals, customs and operations with representatives of the related death care operatives from around the world. In accordance with the Strategic Plan, the Board’s representation of the ACCA membership at this International event allowed for important networking to be established as well as increasing our knowledge of the industry and latest trends world-wide. The Australian delegation was invited to a special meeting with Mr Chen Qunlin, outgoing President of FIAT-IFTA (also a member of the Bureau of Civil Affairs) and Mr Wang Jisheng, a Director of the China Funeral Association (and General Manager of Fu Shou Yuan Group – ACCA Member) to discuss their continued support of visiting Australia and attending our conference. During this discussion they indicated an eagerness to showcase their own works and facilities to Australia and floated the proposal of hosting a convention for ACCA in the near future. There is no doubt that there would be invaluable learning benefits and networking available to ACCA members if such an opportunity presented itself. However the Board would be intent on thorough assessment of any submitted proposal on its appropriateness, cost and merit.

ANNUAL REPORT 2009/2010

5


Finance The audited financial statements are included in this Annual Report and the result was an operating loss of over $50k, which although very disappointing, was due in part to the difficult economic times (low interest returns on investments and lower sponsor revenue), but mainly to the significant deficiency of delegates (against budget) at our two major events, the Annual Conference and Mid-Year Seminar. Event 2009/10

Registration Income Actual - $

Registration Income Budgeted - $

Variance - $

Last Year - $

Annual Conference

236,245

294,400

-58,155

254,727

Mid-Year Seminar

17,927

27,000

-9,073

26,714

Certainly, there were contributing factors, such as the interim position, and eventual re-structure, of all Melbourne metropolitan cemeteries into two Trusts and the constraints that may have been imposed on sending delegates (in similar numbers to previous years) during this time, particularly to the Mid-Year Seminar. On the plus side, a better-than-budget result was achieved in conference Exhibitor income $14,336 and expenses were kept to below budget by $18,130 to help part-offset the conference delegate registration deficiency. Expenses for the Mid-Year Seminar were mostly committed and/or pre-paid and therefore unable to be changed at short notice. The Board is reviewing the future of this activity for 2011 and beyond. A synopsis of the Financial year is best shown in the table below:

6

Australasian Cemeteries and Crematoria Association


ACTUAL Income

BUDGET

Cost of Sales

Gross Profit

Income

Cost of Sales

Gross Profit

INCOME 206,522

0

206,522

205,700

0

205,700

48,564

31,800

16,764

51,000

35,000

16,000

Sydney Conference*

579,945

556,386

23,559

396,900

356,400

40,500

Mid year Conference

37,714

40,004

-2,290

51,000

31,000

20,000

Subscriptions ACCA News

641

0

641

4,500

4,150

350

Other Income

2,605

0

2,605

2,200

1,000

1,200

Bank Interest

8,214

0

8,214

14,000

0

14,000

884,205

628,190

256,015

725,300

427,550

297,750

Brochures and Books

EXPENSES Finance & Administration

27,159

26,300

Administration - Office

24,358

23,550

Bank & Gov’t Charges

7,006

6,000

21,426

25,500

3,742

3,500

Board Expenses Secretariat Public Relations

16,286

8,500

China Expo Expenses

22,020

20,000

5,032

7,000

161,148

164,500

21,814

20,850

TOTAL EXPENSES

309,991

305,700

Operating Profit

-53,976

-7,950

Rewrite Guidelines

2,710

0

Working Party

2,250

0

-58,936

-7,950

Other Expenses Employment Expenses Rental Expenses

Other Expenses

NET RESULT * Sydney Conference Actual Figures includes accommodation income

Total operating expenses for the year were within 1.4% of budget. The one individual area above budget was Public Relations costs, which was mainly the result of unbudgeted conference registrations, air fares and accommodation costs for the Executive Officer, some of which were off-set by the reduced Board Expenses, for the converse reason. The statement of financial position continues to show a healthy position for the Association, with net assets of $191,663.

ANNUAL REPORT 2009/2010

7


Membership

ACCA Corporate Members

New Memberships:

NSW

15

Ordinary:

2

QLD

3

Corporate:

3

VIC

12

Observer:

1

ACT

2

WA

1

Resignations:

SA

4

Ordinary:

4

New Zealand

9

Corporate:

4

Malaysia

3

Affiliate:

1

China

13

Associate Fellow: 1

Japan

1

USA

2

United Kingdom

1

Mongolia

1

The Netherlands

1

Total

68

Victorian Restructure Loss Ordinary: 8 30 June 2010 ACCA Ordinary Members NSW

28

VIC

11

QLD

15

Associate Fellow Members NSW

3

VIC

2

Total

5

SA

8

WA

6

TAS

4

ACT

2

Associate Members

NT

2

Kuala Lumpur

1

New Zealand

5

NSW

1

SA

2

Total

4

Total

81

Observer Members NSW

1

VIC

1

Total

2

Membership Fees Membership fees were increased by 1.5% for the 2009/2010

8

Australasian Cemeteries and Crematoria Association


financial period in line with CPI movement.

Membership Statistics 2003/04 – 20009/10 The following graphs show membership fluctuations during the previous 5 years, noting previous disclaimer regarding authenticity of 2007/08 full member numbers.

ACCA Full Members 40 35 30 25 20 15 10 5 0

2009/2010 2008/2009 2007/2008 2006/2007 2004/2005 2003/2004

NSW

VIC

QLD

SA

WA

TAS

ACT

NT

NZ

ACCA Corporate Members 20 15 10 5 0

NSW

QLD

VIC

WA

ACT

SA

NZ

Malaysia

China

Others

2009/2010 2008/2009 2007/2008 2006/2007 2005/2006 2004/2005 2003/2004

ANNUAL REPORT 2009/2010

9


Conference 2009

Mid Year Seminar 2010

The 2009 conference in Sydney was held jointly with the International Cremation Federation and proved to be very successful with almost 280 delegates attending. The conference theme was ‘Sustainability in Your Environment’ which looked at ways companies can gain a competitive edge by adopting sustainable practices such as increasing their market share and reducing their environmental foot print. The program looked at many practices and issues surrounding Sustainability whilst providing a forum for speakers and delegates to share their views on this important topic. Overwhelming positive feedback was received from delegates regarding the Monday morning sessions and especially the keynote speaker, Alexander Downer, whom retired from politics in 2008 after an amazing 24 years on the International stage. The international flavour and the international presenters were also very well received.

In May 2010, ACCA’s Eighth Annual Mid Year Seminar was held in the Gold Coast, Queensland. This year the topic of Team Work was presented in depth and delegates gained valuable knowledge and insight to ‘put into practice’ within their own environment. The workshop provided delegates with the strategies to meet challenges head on, think outside the box and to adapt to change. The program also focused on ‘effective’ operational teams and how to build effective team synergy, innovation and cooperation. Eric Bailey was the Workshop facilitator on Thursday and we received overwhelming positive feedback regarding his presentation. Vicki Bennet, the Friday workshop presenter and the tour of Allambie Memorial Park was also very well received.

Conference 2010

• To maintain direction and objectives of ACCA Strategic Plan

The 2010 ACCA Conference in Fremantle is fast approaching. This year’s conference theme is ‘Our Changing Landscape. The program will look at why and how our landscape is constantly changing. The actions of wind, water, and people all change the land surface. Some changes occur over centuries, whereas others occur within weeks. Changes may be global in extent or have only local effect. Regardless of the type of change or length of time over which the change occurs, our environment remains a fundamental source for sustenance and inspiration. The program includes high-calibre speakers such as Jeff McMullin, Wilson Tuckey and Michael Pascoe. The social program also promises to be memorable with the Presidents Reception being held at the new Maritime Museum and the Gala Ball themed to be an elegant night at “The Oscars.”

The Year Ahead 2010/2011

• To continue providing high quality services and professional support to membership • To hold a successful conference in Fremantle in 2010 and to plan the 2011 Wellington NZ conference • To hold an educational Mid-Year Seminar, or smaller regional events during the year • To consolidate and strengthen ACCA’s financial position • To provide effective member communication through ACCA News, Communiqués and the improved website • To continue to review the ACCA Branches proposal • To ensure that Government liaison opportunities remain open and active • To refine ACCA’s accreditation processes • To continue to further develop and provide training opportunities for Members

• To continue with good governance for ACCA Directors, staff and contractors. • To continue with research into key projects

10

Australasian Cemeteries and Crematoria Association


Independent Auditor’s Report

To The Members Of Australasian Cemeteries and Crematoria Association Ltd Report on the Financial Report We have audited the accompanying financial report of Australasian Cemeteries and Crematoria Association Limited, which comprises the Balance Sheet as at 30 June 2010, and the Statement of Comprehensive Income, Statement of Changes in Equity and Cash Flow Statement for the year ended on that date, a summary of significant accounting policies, other explanatory notes and the directors’ declaration.

Directors’ Responsibility for the Financial Report The directors of the Australasian Cemeteries and Crematoria Association Limited are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. In Note 1, the directors also state, in accordance with Accounfing Standard 101 Presentation of Financial Statements, that compliance with the Australian equivalents to International Financial Reporting Standards (IFRS) ensures that the financial report, comprising the financial statements and notes, complies with IFRS.

Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the puipose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independence In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, provided to the directors of Australasian Cemeteries and Crematoria Association Limited on 31st August 2010, would be in the same terms if provided to the directors as at the date of this auditor’s report.

Audit Opinion In our opinion, the financial report of Australasian Cemeteries and Crematoria Association Limited is in accordance with the Corporations Act 2001, including: a. Giving a true and fair view of the company’s financial position as at 30 .lune 2010 and of its performance for the year ended on that date; and b. Complying with Australian Accounting Standards (including Australian Accounting Interpretations) and the Corporations Regulations 2001.

Catherine Gaskell 31st August 2010 MGR Accountants Pty Ltd 1 Somerville Street Bendigo VIC 3550

ANNUAL REPORT 2009/2010

11


Auditor’s Independence Declaration

To the Australasian Cemeteries and Crematoria Association Limited As lead engagement auditor for the audit of Australasian Cemeteries and Crematoria Association Limited for the year ended 30 June 2010, I declare that to the best of my knowledge and belief, that there have been:

i. no contraventions of the independence requirements of the Corporations Act in relation to the audit; and

ii. no contraventions of any applicable code of professional conduct in relation to the audit of Australasian Cemeteries and Crematoria Association Limited.

Catherine Gaskell MGR Accountants Pty Ltd 31st August 2010

DIRECTORS’ REPORT Your directors submit the financial report of the Australasian Cemeteries and Crematoria Association Ltd for the financial year ended 30 June 2010

DIRECTORS The names of Directors throughout the year and at the date of this report are: G. Cummins P. Deague B. Elliott E. Heapy K. Hinrichsen M. McMahon A. Mikaelian B. O’Connor D. Thomas

01/07/2009 - 14/10/2009 14/10/2009 - 30/06/2010 01/07/2009 - 30/06/2010 01/07/2009 - 14/10/2009 14/10/2009 - 30/06/2010 14/10/2009 - 30/06/2010 01/07/2009 - 30/06/2010 01/07/2009 - 30/06/2010 01/07/2009 - 30/06/2010

No significant change in the nature of these activities occurred during the year.

AFTER BALANCE DATE EVENTS No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the Association.

FUTURE DEVELOPMENTS The Association expects to maintain the present status and level of operations and hence there are no likely developments in the operations in future financial years.

ENVIRONMENTAL ISSUES The Association’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a state or territory.

COMPANY SECRETARY

MEMBERS EQUITY

The following person held the position of Association secretary at the end of the financial year:

In accordance with the relevant provisions of the Corporations Act, the company does not have share capital. The Constitution of the Company limits liability by way of guarantee. Under the terms of that guarantee every member of the Company undertakes to contribute to the property of the Company in the event of the Company being wound up. The extent of that contribution is limited to $100 per member.

Ken J Manders – Executive Officer has worked for the Association for the past two years performing management and secretary roles. Ken J Manders was appointed Executive Officer on 17 April 2008.

PRINCIPAL ACTIVITIES AND OBJECTIVES The principal activities of the association during the financial year were:

To promote the cemetery and crematorium industry in Australasia.

OPERATING RESULT The profit/(loss) from ordinary activities amounted to ($58,936)

REVIEW OF OPERATIONS A review of operations of the Association during the financial year indicated an increase in expenses of 6.2% which was in accord with budget estimate; however the increase in revenue of 2.9% was lower than expected due to industry changes and the global financial crisis, which contributed to the loss result.

12

SIGNIFICANT CHANGES IN STATE OF AFFAIRS

At 30 June 2010 there were 81 full members of the Company to which the above provisions would apply. The total amount the members of the company are liable to contribute if the company is wound up is $8,100.

INDEMNIFYING OFFICERS OR AUDITORS No indemnities have been given or insurance premiums paid, during or since the end of the financial year for any person who is or has been an officer or auditor of the Association other than a premium paid for Director’s and Officer’s Liability Insurance.

Australasian Cemeteries and Crematoria Association


INFORMATION ON DIRECTORS – QUALIFICATIONS, RESPONSIBILITIES AND MEETING ATTENDANCE Qualifications, Experience

Special Responsibilities

Meetings Held During Term

Meetings Attended

General Manager Mangere Cemetery Trust

Director

1

1

Director

4

4

Vice President, Chair Finance

5

4

Chief Executive Officer Adelaide Cemeteries Authority

Vice President

1

1

Manager Toowoomba Garden of Remembrance

Director

4

4

Director

4

4

General Manager Cemeteries, Invocare BEc

Director

5

5

Operations Manager Greater Metropolitan Cemeteries Trust

Director

5

5

Chief Executive Officer Geelong Cemeteries Trust

Director

5

5

Name

Graeme Cummins

Director Planning Metropolitan Cemeteries Board

Peter Deague

MA, MLGMA

Bryan Elliott

Eric Heapy

Chief Executive Officer Centennial Park Authority MBA, BA (Acc) FCPA, FAIM, CPMgr, AAICD

Karen Hinrichsen

Michael McMahon

Chief Executive Officer Catholic Cemeteries Board B’Bus,CAPC,FAICD,GAICD,JP(NSW)

Armen Mikaelian

Brendan O’Connor

Darryl Thomas

PROCEEDINGS ON BEHALF OF THE ASSOCIATION No person has applied for leave of court to bring proceedings on behalf of the Association or intervene in any proceedings to which the Association is a party for the purpose of taking responsibility on behalf of the Association for all or any part of those proceedings. The Association was not a party to any such proceedings during the year.

AUDITOR’S INDEPENDENCE DECLARATION The lead auditor’s independence declaration for the year ended 30 June 2010 has been received and can be found on page 12 of the directors’ report. Signed in accordance with a resolution of the Board of Directors

Director Dated this 31st day of August 2010

ANNUAL REPORT 2009/2010

13


STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2010

2010 $

2009 $

48,564

48,864

641

4,294

579,945

540,846

Seminar

37,714

49,632

Interest

8,214

11,707

206,522

201,648

2,605

2,135

884,205

859,126

ACCA News/Bulletin

31,800

32,058

Audit and Accounting Fees

27,159

31,234

(541)

2,304

Bank Charges

7,006

4,737

Board Expense

21,426

22,396

1,491

4,814

Note Revenues from Ordinary Activities ACCA News Advertising Brochures Conference

1 (f)

Membership Fees Miscellaneous

TOTAL REVENUE FROM ORDINARY ACTIVITIES

1 (f)

Expenditure from Ordinary Activities

Bad Debts

Brochures Conference Expenditure

1 (f)

556,386

493,761

Depreciation

1 (d)

6,248

6,488

2,414

2,338

161,148

163,343

3,742

1,692

40,004

47,828

Subscription

1,619

3,193

Insurance

2,385

2,302

83

4,959

Phone/Fax

7,081

3,851

Office Expenses

1,487

2,277

Rental Expenses

21,814

20,285

Postage

3,738

4,978

Projects

4,960

5,189

Public Relations

16,286

3,065

Promotional – China Conference/Expo

22,020

19,854

2,440

4,130

945

1,485

943,141

888,561

NET RESULT FOR THE YEAR

(58,936)

(29,435)

TOTAL COMPREHENSIVE INCOME

(58,936)

(29,435)

Internet/E-Mail Employment Expenses Secretariat Seminar

Miscellaneous

Printing & Stationery Website

TOTAL EXPENDITURE FROM ORDINARY ACTIVITIES

1 (f)

THE ACCOMPANYING NOTES FORM PART OF THIS FINANCIAL REPORT.

14

Australasian Cemeteries and Crematoria Association


BALANCE SHEET AS AT 30 JUNE 2010

Note

2010

2009

$

$

CURRENT ASSETS Cash and Cash Equivalents

2

176,778

300,955

Receivables

3

50,209

43,837

Other

4

117,286

136,745

344,273

481,537

8,573

11,972

2,985

2,985

11,558

14,957

355,831

496,494

164,168

245,895

TOTAL CURRENT LIABILITIES

164,168

245,895

TOTAL LIABILITIES

164,168

245,895

NET ASSETS

191,663

250,599

191,663

250,599

191,663

250,599

TOTAL CURRENT ASSETS NON-CURRENT ASSETS Plant and Equipment

5

Other

TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Payables

6

EQUITY Contributed Equity & Retained Profits/(Accumulated Losses)

TOTAL EQUITY

7

THE ACCOMPANYING NOTES FORM PART OF THIS FINANCIAL REPORT.

ANNUAL REPORT 2009/2010

15


STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2010

2010

2009

$

$

Total Equity at the Beginning of the Financial Year

250,599

280,034

Net Result for the Year

(58,936)

(29,435)

Total Equity at the End of the Year

191,663

250,599

2010

2009

$

$

CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 JUNE 2010 Note CASH FLOWS FROM OPERATING ACTIVITIES Receipts from Subscriptions and Other Activities Payments to Suppliers and Employees Interest Received GST Refunded from the Australian Taxation Office GST Paid to the Australian Taxation Office Net Cash Provided (Used) by Operating Activities

8b

947,568

1,171,628

(1,050,314)

(1,095,145)

8,214

11,706

64,908

82,873

(91,419)

(83,212)

(121,043)

87,850

(3,134)

(9,828)

-

1,870

(3,134)

(7,958)

(124,177)

79,892

300,955

221,063

176,778

300,955

CASH FLOWS FROM INVESTING ACTIVITIES Payments for Plant & Equipment Receipts from disposal of Plant & Equipment Net Cash Provided (Used) by Investing Activities Net Increase (Decrease) in Cash Held Cash and Cash Equivalents at the Beginning of the Financial Year Cash and Cash Equivalents at the End of the Financial Year

8a

THE ACCOMPANYING NOTES FORM PART OF THIS FINANCIAL REPORT.

16

Australasian Cemeteries and Crematoria Association


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES This financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards, Australian Accounting Interpretations and other authoritative pronouncements of the Australian Accounting Standards Board. The financial report covers Australasian Cemeteries and Crematoria Association Ltd. as an individual entity. The financial report has been prepared on an accruals basis and is based on historical costs and does not take into account changing money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values of the consideration given in exchange for assets. The following is a summary of the material accounting policies adopted by the Association in the preparation of the financial report. The accounting policies have been consistently applied, unless otherwise stated. a Adoption of Australian Equivalents to International Financial Reporting Standards

The financial statements for the year ended 30 June 2010 have been prepared in accordance with the Australian equivalents to International Financial Reporting Standards (A-IFRS).

b. Income Tax

No provision for income tax is necessary, as the Association is exempt from income tax under Section 23(e) of the Income Tax Assessment Act 1936.

c. Plant and Equipment

Plant and equipment are measured on the cost basis less depreciation and impairment losses.

The carrying amount of plant and equipment is reviewed annually by the Association to ensure it is not in excess of the recoverable amount from those assets. The recoverable amount is assessed on the basis of the expected net cash flows which will be received from the assets’ employment and subsequent disposal. The expected net cash flows have been discounted to present values in determining recoverable amounts.

d. Depreciation

The depreciable amount of all fixed assets are depreciated on a straight line basis over the useful lives of the assets to the association commencing from the time the asset is held ready for use.

The depreciation rates used for each class of depreciable asset are:

Office equipment and furniture

20 - 50%

The carrying amount of fixed assets is reviewed annually by directors to ensure it is not in excess of the recoverable amount of those assets.

The recoverable amount is assessed on the basis of expected net cash flows which will be received from the assets’ employment and subsequent disposal. The expected net cash flows have been discounted to present values in determining recoverable amounts.

An asset’s carrying amount is written down to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.

e. Cash and Cash Equivalents

For the purposes of the Cash Flow Statement cash includes cash on hand, at banks and on deposit.

f. Revenue

Conference Income is only recognised in the year in which the service is provided. Fees received in advance are recorded as pre-paid conference income. Income from membership fees is recognised at the time of raising a debtor invoice.

Conference income and conference expense includes accommodation for the first time and previous year figures have been adjusted to include this component for fair comparison.

g. Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Tax Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the Balance Sheet are shown inclusive of GST.

ANNUAL REPORT 2009/2010

17


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010

2010

2009

$

$

45,598

127,416

-

500

131,180

173,039

176,778

300,955

50,209

43,837

50,209

43,837

107,125

134,160

10,161

2,585

117,286

136,745

21,153

18,304

(12,580)

(6,332)

8,573

11,972

11,972

14,876

2,849

8,935

-

(5,351)

(6,248)

(6,488)

8,573

11,972

NOTE 2: CASH AND CASH EQUIVALENTS Cash at Bank Petty Cash Cash Management Fund/Term Deposits

NOTE 3: RECEIVABLES Receivables

NOTE 4: OTHER Prepaid Conference Expenditure Other

NOTE 5: PLANT AND EQUIPMENT Office Equipment — at Cost Less Accumulated Depreciation

(a) Movements in carrying amount Balance at the beginning of year Additions Disposals (Net Value) Depreciation Expense Carrying amount at the end of year

18

Australasian Cemeteries and Crematoria Association


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010

2010

2009

$

$

Sundry Creditors and Accruals

68,263

86,859

Prepaid Conference Income

95,905

159,036

164,168

245,895

Retained Profits at the Beginning of the Financial Year

250,599

280,034

Net Profit / (Loss) Attributable to the Association

(58,936)

(29,435)

Retained Profits at the End of the Financial Year

191,663

250,599

45,598

127,416

131,180

173,039

-

500

176,778

300,955

(58,936)

(29,435)

6,248

6,488

(6,372)

(27,754)

(81,727)

217,846

19,744

(79,295)

(121,043)

87,850

NOTE 6: PAYABLES CURRENT

NOTE 7: RETAINED PROFITS

NOTE 8: CASH FLOW INFORMATION a. Reconciliation of Cash and Cash Equivalents

Cash at Bank

Cash on Deposit

Petty Cash

b. Reconciliation of Net Cash provided (used)

by Operating Activities to Net Profit/(Loss) from Ordinary Activities

Net Result for the Year

Non-Cash Flows in Net Profit/(Loss) from Ordinary Activities:

Depreciation

Changes in Assets and Liabilities:

(Increase) Decrease in Receivables

Increase (Decrease) in Creditors and Accruals

(Increase) Decrease in other Assets

Net Cash Provided (Used) by Operating Activities

c. The Association has no credit stand-by or financing facilities in place. d. There were no non-cash financing or investing activities during the period.

ANNUAL REPORT 2009/2010

19


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010 NOTE 9: FINANCIAL RISK MANAGEMENT a. Financial Risk Management Policies The Association’s financial instruments consist mainly of deposits with banks, accounts receivable and payable. The Association does not have any derivative instruments at 30 June 2010.

i. Treasury Risk Management This is not relevant to the Association.

ii. Financial Risk Exposures and Management The main risks the Association is exposed to through its financial instruments are interest rate, liquidity and credit risk.

Interest Rate Risk The Association’s exposure to interest risk is not material as it does not have any interest bearing borrowings as at 30 June 2010. The only exposure to interest rate risk is the fall in interest rate which would reduce the interest income received from the deposits in the bank.

Foreign Currency Risk Foreign Currency Risk arises when financial instruments are recognised in a currency that is not the Association’s functional currency. The Association’s exposure arises from its dealings with its overseas members and is minimal.

Credit Risk The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the Balance Sheet and notes to the financial statements. There are no material amounts of collateral held as security at 30 June 2010. Credit risk is managed and reviewed regularly by the finance committee. It arises from exposures to customers and deposits with financial institutions. The finance committee monitors credit risk by actively assessing the rating quality and liquidity of counter parties:

- only banks and financial institutions with an “A” rating are utilised:

- all potential members are rated for credit worthiness taking into account their particular circumstances and financial standing; and - customers who do not meet the association’s strict credit policies may only purchase in cash or with recognised credit cards. At the end of the financial year the Association does not have any material credit risk exposure.

Liquidity risk Liquidity risk is managed by monitoring the Association’s cash flow position regularly and ensuring there are sufficient funds to meet all obligations.

Foreign exchange rate risk The Association is not exposed to fluctuation in foreign currencies.

20

Australasian Cemeteries and Crematoria Association


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010

b. Financial Instrument Composition and Maturity Analysis The table below summarises the undiscounted contractual settlement terms for the financial instruments of a fixed period of maturity. Weighted Average

Floating Interest

Effective Interest Rate

Rate

Fixed Interest Rate Maturing Within 1 Year

Non Interest Bearing

1 to 5 Years

2010

2009

2010

2009

2010

2009

2010

2009

2010

2009

%

%

$

$

$

$

$

$

$

$

3.54

1.82

176,778

300,955

-

-

-

-

-

-

Receivables

-

-

-

-

-

-

-

-

50,209

43,837

TOTAL FINANCIAL ASSETS

-

-

176,778

300,955

-

-

-

-

50,209

43,837

FINANCIAL LIABILITIES

-

-

-

-

-

-

-

-

-

-

Payables and Tax Liabilities

-

-

-

-

-

-

-

-

164,168

245,895

FINANCIAL ASSETS Cash and Cash Equivalents

c. Net Fair Values Methods and assumptions used in determining net fair value. The net fair values of listed investments have been valued at the quoted market bid price at balance date adjusted for transaction costs expected to be incurred. For other assets and other liabilities the net fair value approximates their carrying value. No financial assets and financial liabilities are readily traded on organised markets in standardised form other than listed investments. Financial assets where the carrying amount exceeds net fair values have not been written down as the economic entity intends to hold these assets to maturity. The aggregate net fair values are materially in line with the carrying values and the financial assets and financial liabilities amounts are disclosed in the Balance Sheet and in the notes to the financial statements.

Sensitivity Analysis Interest rate risk The Association does not consider a sensitivity analysis would be relevant and has therefore not performed any analysis in this area.

ANNUAL REPORT 2009/2010

21


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2010 NOTE 10: ASSOCIATION DETAILS The principal place of business of the Association is:

Suite North 4, 215 Bell Street Preston Vic 3072

2010

2009

$

$

2,950

2,727

-

-

NOTE 11: REMUNERATION OF AUDITORS Auditing the Accounts Other Services provided by the Audit Firm

NOTE 12: RELATED PARTIES The names of the directors of the company who held office at any time during the financial year were: G. Cummins

01/07/2009 - 14/10/2009

P. Deague

14/10/2009 - 30/06/2010

B. Elliott

01/07/2009 - 30/06/2010

E. Heapy

01/07/2009 - 14/10/2009

K. Hinrichsen

14/10/2009 - 30/06/2010

M. McMahon

14/10/2009 - 30/06/2010

A. Mikaelian

01/07/2009 - 30/06/2010

B. O’Connor

01/07/2009 - 30/06/2010

D. Thomas

01/07/2009 - 30/06/2010

During the year, no director received any benefit from the company either directly or indirectly.

NOTE 13: CONTINGENT LIABILITIES AND CONTINGENT ASSETS There were no contingent liabilities or contingent assets at balance date. (2009 – Nil).

NOTE 14: COMMITMENTS There were no commitments at balance date. (2009 – Nil).

NOTE 15: MEMBERS EQUITY In accordance with the relevant provisions of the Corporations Act, the company does not have share capital. The Constitution of the Company limits liability by way of guarantee. Under the terms of that guarantee every member of the Company undertakes to contribute to the property of the Company in the event of the Company being wound up. The extent of that contribution is limited to $100 per member. At 30 June 2010 there were 81 full members of the Company to which the above provisions would apply. The total amount the members of the company are liable to contribute if the company is wound up is $8,100.

22

Australasian Cemeteries and Crematoria Association


DIRECTORS’ DECLARATION In the opinion of the directors the financial report as set out on pages 11 to 22: 1. Presents fairly the financial position of the Australasian Cemeteries and Crematoria Association Limited as at 30 June 2010 and its performance for the year ended on that date in accordance with Australian Accounting Standards (including Australian Accounting Interpretations). 2. The financial statements for the Australasian Cemeteries and Crematoria Association Limited for the year ended 30 June 2010 have been prepared in accordance with the Australian equivalents to International Financial Reporting Standards (A-IFRS). 3. At the date of this statement, there are reasonable grounds to believe that the Australasian Cemeteries and Crematoria Association Limited will be able to pay its debts as and when they become due and payable. This declaration is made in accordance with a resolution of the Directors and is signed for and on behalf of the Directors by:

President Brendan O’Connor

Director Bryan Elliott

Dated this 31st day of August 2010

ANNUAL REPORT 2009/2010

23


Our Vision To be recognised in Australasia and internationally as the professional organization pursuing best practice in cemeteries and crematoria.

Our Mission Achieving high standards of professionalism, continuous improvement and self-regulation in Australasian cemeteries and crematoria.

Our Values The Values of ACCA are to: • Strive for excellence, be proactive and responsive to change. • Promote trust, openness and accountability. • Maximise benefits to members. • Promote consultation and participation. • Recognise the contribution that members and others make to the industry and ACCA. • Strive to achieve the respect of others.

Our Goals The Goals of ACCA are to: • Pursue excellence in membership services. • Maintain a financially strong organization, providing funds for core services, research; and development and organizational growth. • Promote the products and services offered by ACCA and its Members. • Enhance professional development and industrial relations policies. • Promote industry self-regulation through codes, practices, standards and policies; and by influencing legislation. • Be environmentally and socially responsible to the community and governments. • Maximise awareness of the role and professionalism of ACCA.

24

Australasian Cemeteries and Crematoria Association


Suite North 4 / 215 Bell St, Preston VIC 3072 Australia Telephone: +61 3 9863 6914 Facsimile: +61 3 9863 6901 Email: admin@accaweb.com.au

Australasian Cemeteries and Crematoria Association


ACCA Annual Report 2010