Post on 13-Oct-2020
The Rotary Club of Manly Inc
Financial Statements for the year ended 30 June 2017
1. Balance Sheet 2. Statement of Profit and Loss and Other Comprehensive Income
3. Statement of Changes in Equity
4. Statement of Cash Flows
5. Notes to the Financial Statements
6. Directors’ Declaration
7. Treasurer’s Report
Rotary Club of Manly Inc
Balance Sheet as at 30 June 2017
2016 2016 2016
$ $ $ Assets $ $ $
Current Assets
Cash
180.75 Cash on hand
Cash at bank
5,032.21 Business account 6,527.08
1,873.44 Charities account 4,677.45
51,385.09 Fun Run account 39,455.01
28,531.21 Public Ancillary Fund 14,954.85
87,002.70 65,614.39
5,235.00 Accounts Receivable [Note 7] 42,162.90
Prepayment 300.00
5,235.00 42,462.90
92,237.70 Total current assets 108,077.29
0.00 Non-Current Assets 0.00
92,237.70 Total Assets 108,077.29
Liabilities
Current liabilities
31,070.55 Accounts Payable [Note 6] 61,530.90
Changeover fees in advance 1,500.00
31,070.55 63,030.90
61,167.15 NET ASSETS 45,046.39
Equity
41,092.98 Retained earnings 01 July 2016 61,167.15
20,074.17 Current year earnings/(deficit) -16,120.76
61,167.15 TOTAL EQUITY 45,046.39
Rotary Club of Manly Inc
Income Statement for Period Ended 30 June 2017
2016 2016 2016
$ $ $ $ $ $
Income
13,520.00 Gross meal fees 15,395.00
14,380.00 less Meal costs 15,561.40
-860.00 -166.40
2,517.90 Sergeant's sessions 2,580.90
1,657.90 Net meal fees 2,414.50
1,751.38 Changeover meal fees
3,275.00 Award Night meal fees
8,800.00 Membership subscriptions 9,845.00
3,447.00 Trifecta tickets
83,113.25 Fun Run entries 47,003.50
10,800.00 Fun Run sponsorship 18,254.62
93,913.25 Fun Run proceeds 65,258.12
5,689.22 Donations 5,543.55
5,055.00 Bowelscan receipts
Rotary grants net 42,907.90
5,000.00 CBPP grants
Club Christmas function 580.00
Zone dinner fees 360.00
493.42 Interest received 666.93
100 Year dinner fees 9,084.93
129,082.17 Total income received 136,660.93
Expenses
Activities
29,026.51 Fun Run 24,137.46
400.00 Trifecta costs
2,025.00 Changeover dinner
100 Year dinner cost 12,674.00
Zone dinner costs 320.00
Club Christmas function 540.37
4,229.15 Pride of Workmanship
35,680.66 37,671.83
Administration
2,800.00 Rotary District fees 2,970.00
3,171.19 Rotary International fees 2,960.34
320.54 Rotary Down Under goods 951.08
1,500.00 Rotary Down Under subscription 1,466.70
St George fees
41.75 Bank fees and charges 18.40
871.42 Merchant service fees 882.37
2,496.00 Storage
Club Runner subscription 822.38
961.49 General and administrative 404.60
12,162.39 10,475.87
Rotary Club of Manly Inc
Income Statement for Period Ended 30 June 2017
2016 2016 2016
$ $ $ $ $ $
Donations
Royal Far West PhD support
Royal Far West other 9,000.00
3,738.47 Pioneer Clubhouse
2,500.00 Bear Cottage, Manly 1,000.00
5,055.00 Bowelscan
2,957.00 Manly Womens Shelter
1,150.00 Sailability
Clontarf Foundation 10,000.00
3,000.00 Police Legacy 3,000.00
3,165.64 Homes for Heroes fitout
Mental health foundations
850.00 RYLA 850.00
10,000.00 PNG sanitation project 70,015.90
5,600.00 Shelterbox
15,230.75 Fun Run directed donations
2,000.00 Sydney Rotary Hay Drive
2,046.00 Youth
1,000.00 Sydney Harbour Conservancy 750.00
2,340.00 RYPEN 2,520.00
Polio Plus 3,653.09
110.00 SMS Lighthouse
Freshwater Scouts 500.00
Fragile X Association 2,500.00
59.99 North Head Memorial book
362.10 Mission Australia
Junee Rotary PNG books 845.00
61,164.95 Donations 104,633.99
109,008.00 Total expenses 152,781.69
20,074.17 Net profit/(loss) for year -16,120.76
Rotary Club of Manly Inc
Statement of Changes in Equity for Period Ended 30 June 2017
2016
41,092.98 Opening balance 1 July previous year 61,167.15
20,074.17 Add Profit for year -16,120.76
61,167.15 Closing balance 45,046.39
Rotary Club of Manly Inc
Statement of Cash Flows for Period Ended 30 June 2017
2016 2016 2016
$ $ $ $ $ $
Cash inflows
13,520.00 Meal fees 15,395.00
2,517.90 Sergeant's sessions 2,580.90
81,465.05 Fun Run entry fees 47,003.50
10,800.00 Fun Run sponsorships 13,254.62
8,800.00 Subscriptions 9,845.00
10,689.22 Donations 5,543.55
3,447.00 Trifecta
3,275.00 Award Night meal fees
1,571.38 Changeover meal fees 1,500.00
100 year dinner fees 9,084.93
Club Christmas function 580.00
Zone dinner fees 360.00
Rotary grants 6,000.00
16,075.00 Accounts receivable received 5,235.00
493.42 Interest 666.93
152,653.97 117,049.43
Cash outflows
14,380.00 Meal costs 15,561.40
27,010.96 Fun Run costs 23,264.46
6,569.15 Other Activity costs 13,534.37
Accounts payable paid
16,000.00 Pioneer Clubhouse
10,000.00 Disabled swing
Royal Far West PhD 11,000.00
Manly Womens Shelter
4,400.00 Shelterbox
4,000.00 Mission Australia
5,160.00 Bowelscan 5,055.00
5,000.00 ROMAC
5,000.00 ADI
5,000.00 Rotary Foundation
3,355.00 Changeover expenses
PNG sanitation 10,000.00
Sailability
Northern Beaches Interchange
3,000.00 Police Legacy 3,000.00
1,500.00 Australian Rotary Health
636.21 Accrued expenses 2,015.55
616.00 Manly Council event fee
63,667.21 31,070.55
12,247.39 Administration costs 10,475.87
123,874.71 Carried forward 93,906.65
Rotary Club of Manly Inc
Statement of Cash Flows for Period Ended 30 June 2017
2015 2015 2015
$ $ $ $ $ $
123,874.71 Carried down 93,906.65
Prepayment made 300.00
Overpayment made 255.00
Donations made3,738.47 Pioneer Clubhouse
2,500.00 Bear Cottage 1,000.00
2,957.00 Manly Womens Shelter
1,150.00 Sailability
3,165.64 Homes for Heroes
850.00 RYLA 850.00
13,582.55 Fun Run directed donations
Royal Far West 9,000.00
Clontarf Foundation 10,000.00
Police Legacy
Junee Rotary Club 845.00
Polio Plus 3,653.09
Fragile X 2,500.00
PNG sanitation 13,108.00
Freshwater Scouts 500.00
2,000.00 Sydney Rotary Hay Drive
2,046.00 Youth
1,000.00 Sydney Harbour Conservancy
110.00 SMS Lighthouse
59.99 North Head memorial book
362.10 Mission Australia
5,600.00 Shelterbox
2,340.00 RYPEN 2,520.00
41,461.75 43,976.09
165,336.46 138,437.74
-12,682.49 Net cash inflow/outflow -21,388.31
Cash Balances
87,002.70 Cash at bank, 30 June 65,614.39
99,685.19 less Opening cash, 1 July prior year 87,002.70
-12,682.49 Net cash inflow/outflow -21,388.31
Rotary Club of Manly Notes to 2017 Financial Statements
Notes to the Financial Statements
The Rotary Club of Manly is an incorporated association which operates in NSW. The Rotary
Club of Manly is incorporated under to the Associations Incorporation Act 2009 (the Act). Its
incorporation number is Y0828122 and its ABN is 39 512 728 164.
The Rotary Club of Manly is a Tier 2 association under the Act as its gross receipts for the
financial year were less than $250,000 and its current assets are less than $500,000. Tier 2
associations are not required to be audited.
The Rotary Club of Manly Sunrise merged with the Rotary Club of Manly on 18 July 2013. The
residual assets and liabilities of the Rotary Club of Manly Sunrise were transferred to and taken
up by the Rotary Club of Manly.
Basis of preparation
This financial report for the period ended 30 June 2017 is a special purpose financial report,
which has been prepared in accordance with Australian Accounting Standards and other
authoritative pronouncements of the Australian Accounting Standards Board. The financial
report has been prepared on the basis of historical cost.
The financial statements include the assets and liabilities and income and expenditure of the
Rotary Club of Manly Public Ancillary Fund. A separate balance sheet, statement of profit and
loss and other comprehensive income and statement of cash flows for the Rotary Club of Manly
Public Ancillary Fund are attached as Note 9 to these financial statements.
Fun Run
Apart from credit card and cash payments received on the day, Fun Run entries were processed
via the Register Now organisation. In previous years, runners were able to nominate charities of
their choice as the recipients of funds they raised through participation in the event. In the 2016
comparative figures, commissions levied by Register Now and donations directed by runners to
specified charities have been added to funds received directly by the Rotary Club of Manly to
determine total revenue raised by the 2016 Fun Run.
In the 2016 comparative figures, donations paid to charities specified by runners were included in
the list of donations made by the Rotary Club of Manly. Donations paid to charities specified by
runners would not have been received if the Rotary Club of Manly had not held the Fun Run.
Directed donations by runners were not recorded for the 2017 Fun Run.
Rotary Club of Manly Notes to 2017 Financial Statements
1. Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand. The Rotary
Club of Manly no longer holds term deposits.
2. Depreciation
The Rotary Club of Manly holds no depreciable assets.
3. Taxation
The Rotary Club of Manly is exempt from tax under Australian taxation legislation. The Rotary
Club of Manly Public Ancillary Fund holds deductible gift recipient [DGR] status. The Rotary
Club of Manly is not registered for GST.
4. Inventory
The Rotary Club of Manly holds no inventory. Certain consumable items used for the Fun Run
(bollards, signs, drinking cups and medals) are expensed on purchase. Where these items are not
completely used up, they are held in storage for use in next year’s event. While they reduce the
expense incurred in subsequent years, no value has been recorded for such items.
5. Results of Activities
Christmas Function
Meal fees 580.00
less Meal costs 540.37
Profit on Christmas Function 39.63
Zone Dinner
595.00 Meal fees 360.00
849.00 less Meal costs 320.00
(245.00) Profit on Zone Dinner 40.00
100 Year Dinner
Meal fees 9,084.93
less Meal costs 12,674.00
Loss on 100 Year Dinner (3,589.07)
Rotary Club of Manly Notes to 2017 Financial Statements
Fun Run
2016
$ $
Fun Run entries
63,890.50 Direct online entries 43,708.50
3,992.00 On day entries 3,295.00
67,882.50 Manly Rotary entry fees 47,003.50
15,230.75 Directed donation entry fees 0.00
83,113.25 Total Entry fees 47,003.50
12,000.00 Fun Run sponsorship 18,254.62
95,113.25 Total Fun Run revenue 65,258.12
less Fun Run costs
11,969.65 Timing 8,567.79
4,062.80 Commission 2,687.15
1,851.78 Medallions 4,126.35
1,712.55 Printing 873.00
1,369.50 Banners and erection 1,015.00
1,728.37 Bollards, tape, signage and decal 1,113.17
245.00 Audio and announcer 355.00
803.00 Web site costs 770.90
583.23 Tshirts 651.42
825.00 First Aid services 825.00
750.00 NPWS Event fee 550.00
200.00 Facebook advertising 989.58
531.07 Truck hire and associated expenses 304.69
Ponchos 308.00
550.00 Fund raising page fee
371.36 Drinking cups
131.00 Refunds 92.00
864.00 Council Event fee 630.00
478.20 Marshals’ breakfast 278.41
29,026.51 Total Fun Run costs 24,137.46
66,086.74 Net Fun Run result 41,120.66
Rotary Club of Manly Notes to 2017 Financial Statements
6. Accounts Payable
2016
$ $
11,000.00 Royal Far West PhD scholar
10,000.00 PNG Sanitation project 56,907.90
5,055.00 Bowelscan
3,000.00 Police Legacy 3,000.00
Sydney Harbour Conservancy 750.00
Changeover fees received in advance 1,500.00
2,015.55 Accrued Fun Run expenses 873.00
31,070.55 63,030.90
7. Accounts Receivable
2016
$ $
Fun Run sponsorship 5,000.00
Rotary International grant receivable 36,907.90
Overpayment receivable 255.00
10,000.00 CBPP grant receivable
5,055.00 Bowelscan
180.00 Changeover meal fees
Subscription in arrears
16,075.00 42,162.90
Rotary Club of Manly Notes to 2017 Financial Statements
8. Cash flow information
Cash from operations is reconciled to profit or loss for the period as follows:
2016 2016 2017 2017
$ $ $ $
(12,682.49) Cash Inflow / Outflow (21,388.31)
43,596.66 add Decrease in accounts payable
Increase in accounts receivable 36,927.90
Prepayment 300.00
43,596.66 37,227.90
30,914.17 15,839.59
10,840.00 less Decrease in accounts receivable
Increase in accounts payable 30,460.35
Changeover fees in advance 1,500.00
10,840.00 31,960.35
20,074.17 Profit / (Loss) for year (16,120.76)
Rotary Club of Manly Notes to 2017 Financial Statements
9. Rotary Club of Manly Public Ancillary Fund
2016 2016 2016
$ $ $ $ $ $
Statement of Comprehensive Income
for the Financial Year Ended 30 June 2017
Income
13,550.00 Donations received 28,924.64
493.42 Interest received 127.02
14,043.42 28,924.64
Expenditure
Donations made
5,496.00 Pioneer Clubhouse
10,000.00 PNG Sanitation project 2,001.00
Royal Far West 9,000.00
Fragile X Association 2,500.00
5,600.00 Shelterbox
3,000.00 Police Legacy 3,000.00
Clontarf Foundation 10,000.00
Bear Cottage 1,000.00
2,957.00 Manly Womens Shelter
1,073.44 Homes for Heroes
28,126.44 27,501.00
12.50 Bank fees 0.00
28,138.94 27,501.00
-14,095.52 Surplus / Deficit 1,423.64
Rotary Club of Manly Notes to 2017 Financial Statements
2016 2016 2016
$ $ $ $ $ $
Rotary Club of Manly Public Ancillary Fund
Balance Sheet as at 30 June 2017
Assets
28,531.21 Cash at bank and on hand 14,954.85
Accounts receivable 5,000.00
28,531.21 19,954.85
less Liabilities
Donations payable
3,000.00 Police Legacy 3,000.00
10,000.00 PNG Sanitation project
13,000.00 3,000.00
15,531.21 Net Assets 16,954.85
Equity
29,626.73 Opening retained earnings 15,531.21
-14,095.52 add/less Surplus/Deficit for year 1,423.64
15,531.21 Total Equity 16,954.85
Rotary Club of Manly Notes to 2017 Financial Statements
2016 2016 2016
$ $ $ $ $ $
Rotary Club of Manly Public Ancillary Fund
Cash Flow Statement
for Financial Year ended 30 June 2017
Cash Inflows
13,550.00 Donations received 23,797.62
1,000.00 Accounts receivable received
493.42 Interest received 127.02
15,043.42 23,924.64
less Cash Outflows
Donations made
5,496.00 Pioneer Clubhouse
Royal Far West 9,000.00
Clontarf Foundation 10,000.00
Fragile X Association 2,500.00
PNG sanitation project 2,001.00
5,600.00 Shelterbox
Bear Cottage 1,000.00
2,957.00 Manly Womens Shelter
1,073.44 Homes for Heroes
15,126.44 24,501.00
Accounts payable paid
10,504.00 Pioneer Clubhouse
PNG sanitation project 10,000.00
Police Legacy 3,000.00
4,400.00 Shelterbox
14,904.00 13,000.00
12.50 Bank fees 0.00
30,042.94 37,501.00
-14,999.52 Net Cash Inflow / Outflow 13,576.36
28,531.21 Cash at bank, 30 June 14,954.85
43,530.73 less Cash at bank, 01 July prior year 28,531.21
-14,999.52 Net Cash Inflow / Outflow -13,576.36
Rotary Club of Manly Notes to 2017 Financial Statements
Treasurer’s Report
The Fun Run continues to be our major fund-raising event. Over the last eight years, it has generated a
profit of over $550,000. This year we generated only around $40,000 profit, while the three previous
years generated a total profit of $240,000. Next year we will not be directly competing against the
SMH Half Marathon and the Blue Mountains Cliff Run. We must do better in 2018.
Where we did do exceedingly well this year was in gaining Rotary Grants. We obtained a $6,000
District International Grant and a further $36,908 Rotary International Global Grant – we are adding
$20,000 of our own funds – for our PNG Rambutso Sanitation Project. The driving force behind this
was Lynne Shori; her’s was an amazing achievement.
Royal Far West received $9,000 support for a Walgett Camp and we paid the second $11,000 tranche
for the Royal Far West PhD scholarship. Clontarf Association received $10,000 and the Fragile X
Association $2,500. Over the last 10 years, the Club has donated in excess of $1,158,000. Just over
two-thirds of these donations were to local projects.
The Fun Run provided $550,000, NSW State Government grants contributed $164,000 and Rotary
grants another $42,908. The other $400,000 was mainly our own work.
The Club sent candidates to both RYLA and RYPEN and donated just over $7,000 to Rotary causes,
including Polio Plus. We contributed another $3,000 to Police Legacy and remain extremely grateful
for the support that the Northern Beaches Area Command gives to the Fun Run.
We are not soft touches and the board spends much time in considering submissions for support. The
commitment of our members, and their willingness to pitch in, makes this possible. We do not support
on-going operating expenses but will happily provide minor capital equipment.
Dues paid to Rotary International and District 9685, plus incidental costs of being a Rotary Club
amounted to just over $9,170. Our membership subscriptions yielded $9,845. There is really no scope
to reduce our subscriptions. After allowing for our carryforward war chest, our result for the year will
be a small surplus. We don’t keep significant carry forward funds, save for a $5,000 buffer for
contingencies plus a further $1,000 to meet our excess lest there be a claim under our Rotary insurance
policy.
“The Rotary Club of Manly Public Ancillary Fund” has DGR (i.e. deductible gift recipient) status.
The Public Ancillary Fund issues tax deductible receipts for donations; this contributes greatly to both
the volume and value of donations we receive. Every Rotary Club should have such a fund and we
have a kit which we give out so that they can achieve this. The DGR rules are that we can only make
donations FROM the Public Ancillary Fund to other DGR bodies. All our usual recipients are such
bodies.
Rotary Club of Manly Notes to 2017 Financial Statements
It is always a delicate balance in our Club between giving as much as we can to immediate needs and
providing a base to support longer term projects. It is equally difficult deciding which organisations
will receive donations and those which must miss out. The support given by members of the Club and
their willingness to contribute enable the Club to achieve all that it does.
John Shanahan
Treasurer 2016-2017