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Treasurer’s Report The surplus for the financial year ended 30 June 2004 was $291,150. The satisfactory result for the 2003/2004 financial year was the The result for the year included bequests of $201,989 and unrealised combined result of an increase in Alzheimer’s Australia NSW gains on the investment portfolio of $74,528. These unrealised generated income, an increase in government and foundation gains are the recoupment of prior years’ unrealised losses. grants and management/staff control over costs. Most importantly the costs were augmented by the enormous contribution of our Total income increased by $771,823 to $3,922,734 and comprised many volunteers. Commonwealth and State Government grants, excluding capital grants, of $2,180,402 and other Alzheimer’s Australia NSW generated The challenge ahead remains to ensure a strong financial base for income amounting to $1,742,332. The percentage of government Alzheimer’s Australia NSW to adequately support, in a sustainable grants to total income of 55.6% compares to 67.3% for 2002/2003 manner, the ever-increasing demands arising from an ageing and 53.8% for 2001/2002. population. There is also the challenge to create improved awareness in the community of the wide range of services the Continued growth in all programs saw expenditure increase by organisation can provide. $506,534 to $3,663,904. As Honorary Treasurer it is my pleasant task to thank all of our many The financial net worth of Alzheimer’s Australia NSW increased during volunteers, staff and, in some cases posthumously, our generous the year to $5,592,897, which is represented by the value of the financial supporters. Each and every one of them has made an Vincent Fairfax Family Resource Centre and its related facilities individual contribution to our 2003/2004 success. together with long-term investments and cash assets. The latter assets produce a not insignificant part of the organisation John Morrison CPA generated income as detailed above. Honorary Treasurer 23 Statement of Financial Position Summary Statement of As at 30 June 2004 Financial Performance For the year ended 30 June 2004 2004 2003 2004 2003 $$ $$ Current Assets Operating Income Cash assets 2,018,980 1,072,145 Government Grant Income 2,180,402 2,120,492 Receivables 126,803 68,448 Fundraising Income: Inventories 10,182 9,543 - In Memoriam 55,159 46,032 Other financial assets 2,111,155 2,629,110 - Donations and Payroll Giving 192,750 225,948 Other assets 41,830 43,162 - Appeals 200,907 142,948 Total Current Assets 4,308,950 3,822,408 - Trust, Foundation and Club Grants 265,681 38,098 - Trust and Foundation Grant Income Brought Forward 16,173 4,500 Non-current Assets - Corporate Sponsorship 40,536 23,691 Property, plant and equipment 1,763,860 1,766,047 - Special Events 337,884 110,724 Other financial assets 835,246 875,008 - Management Fees 62,000 – Dividends/Distributions from Listed Trusts 116,099 74,678 Total Non-current Assets 2,599,106 2,641,055 Interest 163,802 152,413 Total Assets 6,908,056 6,463,463 Consultation and Course Fees 190,221 133,439 Membership Fees 52,010 52,767 Current Liabilities Merchandise Sales 7,711 15,458 Payables 1,082,074 1,032,685 Other Income 13,135 2,351 Tax liabilities 31,259 43,037 Net Surplus on Sale of Listed Equities 28,264 7,372 Provisions 134,387 131,056 Total Operating Income 3,922,734 3,150,911 Total Current Liabilities 1,247,720 1,206,778 Operating Expenditure Non-current Liabilities Salaries 1,744,394 1,620,530 Provisions 67,439 26,763 Staff Related Expenses 234,077 140,207 Total Non-current Liabilities 67,439 26,763 Superannuation 187,338 182,993 Travel and Accommodation 129,992 91,587 Total Liabilities 1,315,159 1,233,541 Program and Workshop Expense Costs 139,834 104,932 Partnership Payments 124,308 147,630 Net Assets 5,592,897 5,229,922 Postage/Courier/Telephone 170,564 130,097 Stationery/Printing/Photocopying 166,548 119,974 Property Expenses 67,507 64,592 Reserves and Accumulated Funds Merchandise/Library/Help Sheet Expenses 15,302 37,287 Asset revaluation reserve 71,825 – Other Professional Fees/Minor Equipment/Bank Charges 31,637 27,726 Accumulated surplus 5,521,072 5,229,922 National Office Contribution 52,170 51,071 Insurance 31,513 19,615 Total Reserves and Accumulated Funds 5,592,897 5,229,922 Information Technology 53,731 57,425 Audit/Legal Fees 15,423 22,879 Fundraising Expenses 300,232 83,586 Community Awareness/Publications 65,890 129,691 Depreciation, excluding on Capital Grant Assets 133,445 125,548 Total Operating Expenditure 3,663,904 3,157,370 Operating Surplus/(Deficit) 258,830 (6,459) Non-operating Income/Expenditure Capital Grants ex Government 9,304 97,284 Depreciation on Capital Grant Assets (31,483) (50,117) (22,179) 47,167 Bequests 201,989 157,455 Expenditure relating to bequests (10,863) (7,873) Trust/Foundation Grants Carried Forward (211,155) (36,223) Unrealised Gains/(Losses) on Investment Portfolio 74,528 (13,649) Capital Reserve Write-back – 50,000 Total Non-operating Surplus 32,320 196,877 Total Surplus 291,150 190,418 24 25 Sponsors and Gifts in Kind Platinum Sponsor (over $30,000) Gold Sponsor (over $20,000) Silver Sponsor (under $20,000) Telstra Australian Financial Review Four Seasons Hotel Sydney Brunel Worldwide Chauffeur Drive James Squire Brewhouse Glass Onion LegionONE Janssen-Cilag Lundbeck MacSween Communications Pepsi Nine Network Australia Pfizer Out There Productions The Basement Qantas Yahoo! Tooheys Yamaha Music Australia Gifts in Kind Albert Music Frank Russell Company Pty Ltd Movie Tours Telstra Corporation AMP Financial Services Fraser Motorcycles Hon Dr Brendan Nelson MP Bob Ternes AMP Foundation Delta Goodrem Newcastle Welfare & Pension Harry Vanda Angry Anderson Graphitype Printing Services Officers Network Workwise Pty Ltd Apple Computers Grey Rogers - Taxi Films Shannon Noll Stevie Wright Australian Army Band Sydney Hayman Pete Murray Free Use of Facilities Australian Rugby Union Horizons Resort Toni Pearen Batemans Bay Bowling Club Glenn A Baker Human Nature Penrith Panthers Homecare Service NSW Barilla Pasta Hyatt Hotel, Canberra Photo Imaging Council Australia Mercy Family Life Centre, Waitara The Bass Warehouse John Paul Young Prebon Yamane Molong Bowling Club Véronique Bosshard Johnson & Johnson ProVision Australia Morisset Country Club Brambles Kestrel Printing Raymond Terrace RSL Sub-branch Muswellbrook RSL Bridgeclimb Kimberly-Clark Australia Richard Gregorio Photography Pambula-Merimbula Golf Club Cadbury Schweppes Krispy Kreme Rock and Roll Hall of Fame and Penrith Community Health Centre Barbara Cail AM Lenden Video Museum Queen Elizabeth Queen Mother Captain Cook Cruises Macquarie Bank Foundation Rockford Wines Centenary Centre Lane Cove Chameleon Lighting Madzin Productions Peter Rose Raymond Terrace Bowling Club Chris Lewis Jewellers Marky Ramone Sertec Southcare, Miranda Claudia Challen McDonald’s Australia Shaw Stockbroking Southern Cross Homes, Merrylands Communique Software McGrath Commercial Sony Music Australia St Joseph's Aged Care, Kensington Rick Damelian McGrath Real Estate Stand Alone Design St Luke's Hospital Potts Point Department of Veterans’ Affairs McKinsey & Company Donnie Sutherland OAM Swansea RSL Donna Hay Magazine McWilliam's Wines Swansea RSL Sub-branch Wirreanda Retirement Village, Susie Elelman Millennium Marching Band Sydney Entertainment Centre Pennant Hills EMI Music Morisset-Dora Creek RSL Sub-branch Tallwoods Golf Resort 28.