ANNUALREPORT2015-2016

RPHAUSTRALIACO-OPERATIVELTD

POBOXA840

SYDNEYSOUTHNSW1235

Mobile0417453643

www.rph.org.au

WelcometoRPHAustraliaCo-OperativeLtd’sAnnualReport2016

Our Vision: Is to have a nation where a print disability is not a barrier to participation Our Values RPH Australia members believe in:

• The rights of people with a print disability • Excellence in service delivery through collaboration • The commitment of volunteers in the provision of RPH Services around • Australia • Recognising the input of the Community of Interest – people with a

print • disability

Our Mission Is to assist members to produce and distribute published information in alternate format (audio) for people in Australia with a print disability. We will do this by:

• Engaging our target audience • Developing the full potential of staff and volunteers • Using a collaborative approach to delivering services across multiple • platforms • Utilising technologies to enhance service delivery methods • Advocating on behalf of members and people with a print disability

• Exploring and implementing appropriate funding and marketing opportunities

RPHAustraliaCo-OperativeLtd

REPORTFROMTHECHAIR AGM2016

ThisyearhasbeenabusyoneforRPHAustralia,andonewhichheraldsperhapsthemostsignificantchangefortheorganisationsinceitsinceptionin1979.

InNovember2015,RPHAustraliaconductedapreliminarystrategicplanningdiscussionhostedbyNickIngram,andattendedbyallmembers,withguestsfrommemberorganisationsandoutsidecontributors.Thiswaslargelysuccessful,andsetthetoneforthenewfinancialyear.PerhapsthemostsignificantoutcomeofthisdiscussionwastheintenttoemployanexecutiveofficerforRPHAustralia.Itwasdeemednotappropriateforthechairtocontinueinthisroleashadbeenthecaseformorethan10years,andaworkingpartywasestablishedtoformtheroleandcompileapositiondescriptionandpackagewhichwouldbemostsuitabletotheneedsoftheorganisation.

ThePDwasdrawnupbyNicciLindemann,MariaWalshandme,andwasratifiedbytheboardofthecooperativeforthwith.ThePDandselectioncriteriawerequitespecific,andtherecruitmentpanelcomprisedofStevenJolley,NicciLindemann,ElizabethMacdonaldandme,decidedinMarch,afterashortlistofsix,torecruitMarilynAlboroughtotherole.Marilynbringsexperienceinthedisabilityarena,previousexecutiveexperience,governance,agoodsenseofhumourandacan-doattitudetotheorganisation.Wearepleasedtosaythatithasbeenasuccessfulappointmentandwehaveallverymuchenjoyedworkingwithher.

ThesuccessofthisrecruitmentprocessisowinginnosmallparttoMariaWalsh,notonlyforhersteadfastworkwithourorganisationasconsultantforthepreviousfouryears,butforherHRexperience,attentiontodetail,andherwillingnessandcommitmenttothestrategicdirectionestablishedatthatNovembermeeting.

MarilyncommenceddutiesinAprilthisyear,andhasmadegiantstepsintoregularizingourorganisation,bringingusintolinewithbestpractice,andbuildingtieswithinthenetwork.Herattentiontodetail,hertimelyremindersaboutoutstandingtasksandherquickandclearunderstandingoftheissueswhichfacetheRPHnetworkanditsconstituentshasbeenoutstandingandIamconfidentshewillprovetobeagreatassettoourorganisationforyearstocome.

UponMarilyn’sappointment,itwasdeterminedthatweneededtomakesomesignificantchangestoourbookkeepingarrangements.Kerri-AnnWaite,ofAdelaide,hadsteppedinandassistedsinceFebruary2015,butitwasdecidedthatamorepermanentarrangementwasnecessarytosimplifytheprocesses,andtofacilitateeasyresolutionofissues.Aftersomediscussionbythefinancecommittee,SarahBriggsofHobartwasrecruitedtoassist.Sarahbringsexperienceovermanyyearswithdifferentaccountingpackagesandastrongunderstandingofthenot-for-profitsectorandgovernanceissues,whichareprovingastrongassettoourorganisation.Shehascontributedmanyhourstotheregularizingofourbooks,andtheestablishmentofprocesseswhichwillsetusingoodsteadforthefuture.

InJune,theexecutivemetinMelbournetodeterminetheoperationalplan,requiredbytheCommunityBroadcastingFoundation,whichwoulddetermineourprioritiesanddirectionsforthecomingyear.TheoperationalplanandbudgetwereacceptedbytheCBF,andwewereawarded$168,200forourongoingoperations.

RPHAustraliaCo-OperativeLtd

Wewereawardedafurther$37,275toconductaprojectinregionalareas,toscopeouttheneedforRPHservices,andtoestablishwhatisbeingdonebytheregionalcommunitystationswhichconductRPHprograms.

TheboarddeterminedtofurtherthestrategicprocesscommencedinNovember,andweheldafurtherfacilitatedstrategicmeetinginJuly.Thiswasconsideredaresoundingsuccessandwearewellonthewaytocompletinganewfive-yearstrategicplan.Itishopedthatthiswillbepublishedearlyinthenewyear,andfromthisanongoingbusinessplanwillbedeveloped.

Alargecomponentofimprovingourstrategicdirectionliesaroundreviewingourconstitution.Theconstitutionhasbeenunchangedsince2001,whentheorganisationchangedfrombeingtheAustralianCouncilforRadioforthePrintHandicapped,toRPHAustralia.Itwasdecidedthatasmanythingshavechanged,notleastthelawbywhichwearegoverned,anewconstitutionwasrequiredandweweresuccessfulinobtaining,probono,theservicesofMaddocksofMelbourne.Thisfirmspecializesinconstitutionallaw,particularlyfornot-for-profitorganisations.Thenewconstitutionisoutforreviewbymemberscurrently.

InFebruary,wesignedoffonthelong-awaitedbrandingproject.Myheart-feltthankstoNicciLindemannandMariaWalshfortheirworkonthisproject.Thereweresomedifficultcircumstancesbuttheirtenacityandbroadmindednesswasessentialtothesuccessfulcompletionofthislong-standingproject.ThebrandingmaterialisavailabletoRPHnetworkstationstoincorporateintotheirownbrandingtobringaconsistentmessagetopeoplewithaprintdisabilityacrossthecountry.Somestationshavealreadybegunincorporatingideasfromthebrandingdocuments,anditwillbecomemoreusefulasRPHAfurtherdeterminesitsstrategicdirectionandcommencesitsownfundraisingandcommunityoutreachprograms.

Someofourconstituentstationsareaffectednegativelybytheroll-outoftheNDIS.CanberralostitsStateGovernmentfundinginJune,andSydneyandHobartwillsoonlosetheirs.NicciandImetwitharepresentativeoftheNDIAinJanuaryinSydneytodiscussthefutureoftheRPHnetworkinconjunctionwiththeNDIS.OurdiscussionwasnotparticularlyfruitfulbutitwasusefulinclarifyingtheNDIA’spositiononRPHservicesandwheretheyfitintothecommunity.WewillcontinuetopushhardonthisastheNDIScontinuestorolloutacrossthecountry.

Atthesametime,wemetwithJonBisset,CEOoftheCommunityBroadcastingAssociationofAustralia,todiscussRPHstationsenteringintotheNationalListenerSurvey.ThisisasurveyundertakenonbehalfofcommunitystationsacrossAustralia,todeterminepeoples’listeninghabits.Itishopedthatastimegoeson,thisdatacanbeusedtodeterminehowmanypeoplelistentoRPHstations,andwhenandwheretheylisten.Thisallowsstationstomakedeterminationsastoprogramming,sponsorshipandfundraisingetc.Sofartheresultshavebeenalittledisappointing,andweareseekingclarificationatpresentfromtheCBAAastothereliabilityandaccuracyoftheresults.

Lastyear,RPHAenteredintoanagreementwithIntermediaInternational,toconductfocus-groupresearchateachofthemainRPHstations.Thishasproducedsomeexcellentresults,withsessionshavingbeenconductedinSydney,MelbourneandAdelaide.AsessionwasplannedforHobart,howeverunfortunatelytherewerenotenoughparticipants.Itwillbeheldearlyinthenewyear,withBrisbaneandCanberratofollow.MythankstoPeterButlerforhiseffortsonthisproject.

RPHAustraliaCo-OperativeLtd

RPHAustraliacontinuesitsrepresentationonsectorbodies.Recently,werejoinedtheRoundTableonInformationAccessforpeoplewithaprintdisability.Thisisaninternationalorganisationwhichseekstodeterminebestpracticefortheinformationprovisionforpeoplewithaprintdisability.RPHplaysasignificantpartinthis,buthashistoricallybeenlargelyignored.IamcurrentlycompilinganabstractforapaperIintenddeliveringatthenextconference,ontheusefulnessandimmediacyofradioininformationprovisionforpeoplewithaprintdisability,particularlythoseinregionalareas.

WehavecontinuedourrepresentationtotheCommunityBroadcastingRoundtableaswell,andthishasprovedofgreatassistancetous.Wearewell-consideredwithinthebroadcastingframeworkanditisimportantthatwecontinuetoplayourpart.

InJanuary,IcompiledaresponsetothefeedbacksoughtregardingtheprospectivechangestoAustraliancopyrightlegislation.Thiswasacceptedandpublishedonthecopyrightwebsite.WecontinuetolobbyonbehalfofstationsandthenetworktostategovernmentsandtheNDIA.Itisimportantthatsuchvaluableandwell-regardedservicesarenotforcedtocloseforlackoffunding.

Wehavecompletedahugebodyofworkoverthistwelve-monthperiod.IwouldparticularlyliketothankMarilynAlborough,ourexecutiveofficer.Shehasbroughtahugewealthofexperienceandideastoourorganisation,andhelpedustounderstandthelargerpicturemoreclearly.Iwouldalsoliketothankmydeputychair,NicciLindemannforhereffortsandsupportoverthelasttwelvemonths.Also,secretary,SteveRichardson,notonlyforhissteadfastnessandreliability,butforhisinvaluablecontributionstotheoperationalplan,andforhisinputintoongoingdiscussions.Also,toHansReimer,whohasformanyyearsconductedourNationalSponsorshipscheme,ournewestboardmember,ConradBrowne,whobringsfreshideasandexperienceincommunitybroadcasting,RobertAltamoreforhisworkontheredraftofourconstitutionandotherlegalissues,StevenJolleyforhislong-standingexperiencewiththenetwork,hiseffortswiththerecruitmentandhissupport,toPeterButlerforhisexcellentworknotonlywiththefocusgroupresearchproject,butforstandingasourrepresentativetotheboardoftheCommunityMediaTrainingOrganisation.Finally,muchisowedtoElizabethMacdonald,whohascompiledandwrittenahugesuiteofpolicies,proceduresandguidelinestoimprovethegovernanceofRPHAustralia,forhergovernanceexperienceandunderstandingofthedisabilitysector.

Thishasbeenanextremelybusyyearbutithasbeenanextremelypositiveone.IamproudtohaveservedasChairoverthisyear,andIlookforwardtobeingofserviceinthefuture.

VaughnBennison

Chair

RPHAustralia

RPHAustraliaCo-OperativeLtd

EXECUTIVEOFFICER’SREPORT AGM2016

OnjoiningRPHAustraliaasyourExecutiveOfficer,inAprilthisyear,IwasdelightedasIknewwehadgreatopportunitytomakebeneficialchanges.Lookingback,Iwouldneverhaveimaginedthatsomuchworkcouldbedoneintheshortsevenmonthstonow.Wehavecollaborated,workedwelltogetherandachievedalot.

ItwasimmediatelyapparentweneededtoimproveourOperationalandFinancialgovernance,andasyouhaveprobablygatheredgovernanceisparticularlyclosetomyheart.Wehavedonewhatwasimmediatelynecessaryandcanrestassuredwehaveastrongerfoundationwithwhichtooperateandenhancewhatwedo.

WelookdifferentandaredoingthingsdifferentlywhichIbelieveisbeingnoticedbyourfundingpartnersandstakeholders,andaswecontinuetoputthetimeintotheoverallgovernanceofRPHAustraliaitcanonlyfurtherimproveourstandingintheCommunityRadiospace.

Howwedobusinesswillneedtocontinuetochangeandweneedtocontinuetoworkonanumberoflevelstobringaboutthischangeandtoenhanceandimprovehowwefulfilourroleasapeakbody……andindoingthiswewillmeetthechallengesahead

OurworkbecomesmorecriticalaswemovetowardstheDisabilityReformoftheNDIS,thelossoffundingforsomestationsandtheimminentexpenseofDigital.Coupledwiththeseknownchallengesisthegreaterpressureongovernmentfundingandtheincreasedexpectationsofaccountability.WhileIamconfidentwecanandwillmeetthechallengesheadonweneedtoremainfocussedonourroleandcontinuetobuildskillsandcapacitytosustaintheorganisationandstrengthenourfoundationforhowwedobusiness.

AmongstourknownprioritiesisdevelopingourStrategicPlanwhichsetsdownRPHAustralia’sguidingprinciplesandvalues,followingwhichdevelopasupportiveCommunicationsPlan.InadditionistheneedtoreformandrevitaliseRPHAustraliawithanuptodatesetofConstitutionalRules,andcontinuetheefforttodevelopafullandrelevantsetoforganisationalpoliciesandprocedures.

WearewellsupportedbytheCommunityBroadcastingFoundationandcontinuetoreceivegrantstoassistustostepupandshineasthePeakbodyforRPHradioreadingnetwork

Therehavebeenmanyhighlightsformethislastsevenmonthsbutthereareacoupleofstandouts:

OurCBFSectorCo-ordinationsubmission–nosmalltasktoplanforatwelve-monthperiodandprovideanOperationalPlanwhilecomingtogripswiththeorganisationsmindsetandintentions.ThisrequirementgavemetheopportunitytoworkdirectlywithourChairandSecretarywhichgavemetremendousinsightintoRPHAustralia……AgoodplandevelopedandverywellreceivedbyourfundingpartnerCBF.

SectorRoundtable-aneventattendedwithinacoupleofweeksofjoiningandgavemetheopportunitytospendtimewithlike-mindedpeople,andtolearnagreatdealaboutthechallengesandprioritiesforcommunityradioandTVbroadcasting

RectifyingandrebuildingtheRPHA‘books’-SomuchworkhasgoneintoourFinancialAccountingandReporting.NothingshortofoutstandingtonowhaveessentialmonthlyReportsandtobeabletoprovidetheBoardofManagementwiththeinformationthatisrequired.

TheRPHAPlanningDay–facilitatedbyChrisRobinsonprovedinvaluableingainingcollaborationaroundthetabletofocusonwhatisimportanttoRPHA.GreatworkbyallinvolvedandhasgivenusthefoundationwithwhichtonowbuildourStrategicPlan.

TheTwo-DayFacetoFaceBoardmeeting–whatagreatopportunitytoactuallymeetallBoardmembersandspendvaluableandinformativetimedevelopingideasandmakingvaluabledecisionsforthebenefitofthemembershipofRPHAustralia.

Aftertheinitialhoneymoonworkbeganonreviewing,sortingthroughandanalysingRPHA’sprotocolsandprocessestoidentifytheprioritiesformovingforward.Somechangeswerenecessaryandmanyhourswerespentonuncoveringthe‘old’soastomoveintothe‘new’.

It’sbeenbothchallengingandrewardingatthesametime……andweneedtobeproudofwhathasbeenachieved

Itakethisopportunitytosincerelythank:

• OurChairVaughnBennisonforhistirelesseffortsinsupportofRPHAustralia• OurFinanceOfficerSarahBriggsforherunwaveringdetermination,tenacityandsenseof

humour• ElizabethMacdonaldforhercontinuedhardworkindevelopingtheorganisationspolicies

andprocedures• SteveRichardsonforhiscommitmentasSecretary• And,allBoardmembersfortheircontinuedeffortandparticipationontheBoardofRPH

Australia

RPHAustraliahasahugeheartanditisapleasuretobepartoftheteamtocontributetotherevitalisationofRPHAandtocontinuetoworkforthebenefitoftheorganisation’smembers.

Isincerelylookforwardtotheyearahead……

MarilynAlborough

ExecutiveOfficer

RPHAustralia

RPHAustraliaCo-OperativeLtd

AUDITEDFINANCIALS

Aspreparedby:

PKFMack

Level4,35HavelockStreet

WestPerthWA6005

RPHAustraliaCo-operativeLimited(IncorporatedinNSW)

2015/16FinancialReport

CountryofIncorporation:Australia

1

Director’sReport

TheDirectorsofRPHAustraliaCo-operativeLimited(the“Co-operative”)presenttheirreportandtheauditedfinancialstatementsoftheCo-operativeforthefinancialyearended30June2016.

Directors

TheDirectorsinofficeatthedateofthisreportareasfollows:

• VaughanBennison • RobertAltamore• NicholaLindemann • StephenJolley• StevenRichardson • ConradBrowne• PeterButler • ElizabethMcDonald• HansReimer

Director’sinterestincontracts

NoDirectorholdsanyinterest,whetherdirectlyorindirectly,inacontractorproposedcontractwiththeCo-operative.

Principalactivities

TheprincipalactivitiesoftheCo-operativeinthecourseofthefinancialyearwereco-ordinationofthenationalRPHcommunitybroadcastingsector.Therewerenosignificantchangesintheseactivitiesduringthecourseofthefinancialyear.

ProfitorLoss

ThenetprofitoftheCo-operativeforthefinancialyearwas$82,578(2015:$15,714)

Dividends

NodividendsarepayableinaccordancewiththeCo-operative’sRulesandPBIstatuswiththeAustralianTaxOffice.

Rebatesandbonuses

TheDirector’srecommendthatnorebatebepaidtomembers.Sincetheendofthepreviousfinancialyearnorebatehasbeendeclaredorpaidinaccordancewiththerecommendationsmadeinourreportforthepreviousyear.

ReviewofOperations

TheoperationsoftheCo-operativeduringthefinancialyearconsistedof:

1. Administration2. Co-ordination3. Education4. Liaison5. Development

2

Significantchangesinactivities

TherewerenosignificantchangesintheactivitiesorthestateofaffairsoftheCo-operativeduringtheyear.

Postbalancesheetdateevents

Therewerenomattersofcircumstancethathavearisensincetheendofthefinancialyearthathavesignificantlyaffectedormaysignificantlyaffect:

1. OperationsoftheCo-operative2. Theresultoftheseoperation;or3. ThestateofaffairsoftheCo-operativeinfutureyears

Futuredevelopments

ThelikelydevelopmentsintheoperationsoftheCo-operativeinsubsequentfinancialyearsareasfollows:

1. Implementationofthebusinessplan2. Nationalsponsorshipandmarketing3. Regionaldevelopmentstrategy4. Advancementoftechnologyuse

ProceedingsonbehalfoftheCo-operative

NopersonhasappliedforleaveofCourttobringproceedingsonbehalfoftheCo-operativeorinterveneinanyproceedingstowhichtheCo-operativeisapartyforthepurposeoftakingresponsibilityonbehalfoftheCo-operativeforalloranypartofthoseproceedings.

TheCo-operativewasnotapartytoanysuchproceedingsduringtheyear.

Auditor’sindependencedeclaration

Acopyoftheauditor’sindependencedeclarationasrequiredissetoutonpage5.

SignedinaccordancewitharesolutionoftheDirectors

VaughanBennison Chairman Date 21November2016

3

Director’sDeclaration

Inthedirectors’opinion:

1. theCo-operativeisnotareportingentitybecausetherearenousersdependentongeneral purpose financial statements. Accordingly, as described in note 1 to thefinancial statements, the attached special purpose financial statements have beenprepared for thepurposesof complyingwith theAustralianCharities andNot-for-profitsCommissionAct2012(“Act”)requirementstoprepareanddistributefinancialstatementstothemembersofRPHAustraliaCo-operativeLimited;

2. the attached financial statements and notes thereto comply with the Act, theAccountingStandardsasdescribed innote1 to the financial statementsandothermandatoryprofessionalreportingrequirements;

3. theattachedfinancialstatementsandnotestheretogiveatrueandfairviewoftheCo-operative's financial position as at 30 June 2016 and its performance for thefinancialyearendedonthatdate;and

4. therearereasonablegroundstobelievethattheCo-operativewillbeabletopayitsdebtsasandwhentheybecomedueandpayable.

Signedinaccordancewithsubsection60.15(2)oftheAustralianCharitiesandNot-for-profitsCommissionRegulation2013.

VaughnBennison Chairman Date21November2016

4

AUDITOR'S INDEPENDENCE DECLARATION

TO THE DIRECTORS OF RPH AUSTRALIA CO-OPERATIVE LIMITED

In relation to our audit of the financial report of RPH Australia Co-Operative Limited for the year ended 30 June 2016, to the best of my knowledge and belief, there have been no contraventions of the auditor independence requirements of the Australian Charities and Not-for-profits Commission Act 2012 or any applicable code of professional conduct.

PKF MACK SIGNED COPY AVAILABLE SIMON FERMANIS PARTNER 21 NOVEMBER 2016 WEST PERTH WESTERN AUSTRALIA

5

INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF

RPH AUSTRALIA CO-OPERATIVE LIMITED

Report on the Financial Report We have audited the accompanying special purpose financial report of RPH Australia Co-operative Limited (RPH Australia), which comprises the statement of financial position as at 30 June 2016, the statement of comprehensive income, statement of changes in equity and the statement of cash flow for the year then ended, notes comprising a summary of significant accounting policies, other explanatory notes and the directors’ declaration.

Directors’ responsibility for the Financial Report The directors of the Co-operative are responsible for the preparation of the financial report that gives a true and fair view in accordance with the requirements of the Australian Charities and Not-for-profits Commission Act 2012 and is appropriate to meet the needs of the members. The directors have determined that the basis of preparation described in note 1 to the financial report is appropriate to meet the requirements of the Act. The directors’ responsibility also includes such internal control as the directors determine is necessary to enable the preparation of a financial report that is free from material misstatement, whether due to fraud or error.

Auditor’s responsibility Our responsibility is to express an opinion on the financial report based on our audit. We have conducted our audit in accordance with Australian Auditing Standards. Those 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 judgement, including the assessment of the risks of material misstatement of the financial report, whether due to error or fraud. In making those risk assessments, the auditor considers internal control relevant to RPH Australia’s preparation of the financial report that gives a true and fair view, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Co-operative’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 applicable independence requirements of the Accounting Professional and Ethical Standards Board.

6

Opinion In our opinion: (i) the financial report presents fairly RPH Australia’s financial position as at 30 June 2016 and of its

performance and cash flows for the year ended on that date in accordance with the accounting policies described in note 1 to the financial statements; and

(ii) the financial statements comply with Australian Accounting Standards to the extent described in

Note 1 to the financial statements and Division 60 of the Australian Charities and Not-for-profits Commission Regulation 2013.

Emphasis of Matter RPH Australia received two grants during the year and as part of the conditions of the grants, funds must be expended in accordance with a budget detailed in the grant agreements. Detailed in note 11 to the financial report is a table comparing actual to budgeted expenditure highlighting variances. Basis of Accounting Without modifying our opinion, we draw attention to Note 1 to the financial report, which describes the basis of accounting. The financial report has been prepared to assist RPH Australia Co-operative Limited to meet the statutory requirements of the Australian Charities and Not-for-profits Commission Act 2012. As a result, the financial report may not be suitable for another purpose. PKF MACK SIGNED COPY AVAILABLE SIMON FERMANIS PARTNER 21 NOVEMBER 2016 WEST PERTH WESTERN AUSTRALIA

7

StatementofProfitorLossandOtherComprehensiveIncome

Yearended30June2016

Notes 2016

2015

$

$

Income 2 905,973

821,912

Lessexpenditure

(823,395)

(806,198)

Surplus/(Deficit)beforeincometaxexpense

82,578

15,714

Incometaxexpense

-

-

Surplus/(Deficit)afterincometaxexpense

82,578

15,714

Othercomprehensiveincome

-

-

Totalcomprehensiveloss

82,578

15,714

8

StatementofFinancialPosition

At30June2016

Notes 2016

2015

$

$Currentassets

Cashandcashequivalents 7(b) 244,212

96,510

Tradeandotherreceivables 4 210,740

170,083OtherCurrentAssets

10,000

10,000

Total

464,952

276,593

Non-currentassets

Plantandequipment 5 -

15,312

Total

-

15,312

Totalassets

464,952

291,905

Currentliabilities

Tradeandotherpayables 6 259,665

169,196

Total

259,665

169,196

Totalliabilities

259,665

169,196

Netassets

205,287

122,709

Equity

Accumulatedfunds

205,287

122,709

Total

205,287

122,709

9

StatementofChangesinEquity

At30June2016

2016

2015

$

$Accumulatedfunds

Openingbalance

122,709

106,995

Totalcomprehensiveprofit/(loss)

82,578

15,714

Closingbalance

205,287

122,709

10

Detailedscheduleofincomeandexpenditure

Yearended30June2016

2016

2015

$

$Income

GrantsBroadcasting(net)

459,993

513,040

GrantsNationalDevelopment

168,200

181,500Interest

366

348

Sponsorshipandotherincome

277,414

127,024Total

905,973

821,912

Lessexpenditure

Feesforservice/consulting

99,751

131,626

DepartmentofCommunicationsexpenses

445,856

499,459Sponsorshippayments

178,726

82,946

SatelliteandISDN

12,500

40,927Depreciation

10,713

8,116

Travel&meetingexpenses

24,406

20,278Employeeexpenses

9,818

0

Directprojectcostsandother

39,625

22,846Total

823,395

806,198

Netoperatingsurplus/(deficit)

82,578

15,714