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Treasurer’s Report AGM 2019

Skal International Perth Inc

Treasurers Report

Annual General Meeting

Thursday, February 7, 2019

 

Firstly I’d like to thank Mark Abercromby and Brad Elborough for the much needed assistance they provided when I first took over the role.  I also must thank Tony Maio who happily reviewed the accounts before being sent to the auditors.

 

Paul Grootveld  and Nicola Strudwick  were the appointed auditors for 2018. Both reviewed and approved the 2019 accounts as presented.

 

From the audit a query was raised as to the security process in place for the collection and banking of cash from event raffles, both were happy that two committee members count all cash after each function as a check of the total, prior to being added to the trading account.

 

As an additional security measure for the 2019 year, the cash from each raffle will be counted by two committee members plus recorded on a receipt signed by the two committee members, this form will be then filed as an additional record of the cash taken from club raffles.   

 

As at the 31st of December 2018:

 

The two bank accounts were reconciled:

Trading Account                          $13, 234.00

Interest Account                          $16, 306.11

Total Cash at bank                     $29, 540.11                                                  

 

There was a trading deficit recorded in 2018 of ($3575.57)

 

One of the main reasons for the deficit relates to Pre-Paid 2018 membership dues collected before December 31 2017 that were included in the 2017 accounts and not reflected in the 2018 accounts.  

 

All 2019 membership dues have been invoiced individually (not previously done), dues collected prior to December 31 2018 have been allocated to a ‘Pre Payments’ account reflected on the balance sheet only as at 31 December 2018

 

The Clubs financials for the year ending December 31 2018 have been submitted and are available to any member wishing to view.

 

Warmest regards

Michael Collins

Treasurer

SKAL International Perth