The Association’s finances over 2023/24 were again dominated by the hosting of the Australian Veteran Golfers National Championships.
As with 2022/23 reporting the accounts were split into those covering the National Championships and the ACT Region’s “core business”.
National Championships: 2023/24 saw significant expenditure associated with running the event. Outgoings exceeded revenue by $89,383. However, the Association recorded an overall surplus of $42,127 from the Championships. The Committee has determined that these funds will be invested for the Association’s future needs including as working capital for the next time the ACT hosts the event.
ACT Region Veterans: Last year, faced with a healthy bank balance, the Committee resolved to “give back more to members”. This has been mainly in the form of members’ lunches such as those marking the Association’s 50th Anniversary. In addition, as most would be aware, prize values have been increased and the ball run has been both extended and the quality of balls lifted. Membership renewal fees have also not increased.
Expenditure of $39,438 exceeded revenue of $31,790 by $7,648. Bank balances as at 30 June amounted to $58,108.
Combining the two accounts sees the Association in a very sound financial position.
The Association once again benefited from generous sponsorship from The Tradies Club. They were the major sponsors for the National Championships and the Club continues to support the Association through annual support, for which we are most grateful. The Belconnen Burns Club also provided support through prize donations and discounts to our members, and we thank them too.
The Association’s accounts were once again reviewed by former member Paul Scollen. Paul performed the role of Honorary Auditor for several years but has advised us that he is retiring his green pen. The Committee recently acknowledged Paul’s stellar contribution and wishes him well. Under ACT legislation the Association’s accounts require annual review by a suitable person – not a formal audit. With the members’ agreement we will find a replacement reviewer in the near future. Should anyone wish to volunteer (or recommend anyone) to take this on please speak to me.
David Calvert
Treasurer. ACTRVGA
13 September 2024
ACT REGION VETERAN GOLFERS ASSOCIATION
AUDITORS REPORT
The Statement of Receipts and Payments and accompanying
Statement of Assets of the ACT Region Veteran Golfers Association Inc. have been examined in accordance with the Accounts and Records as presented for my exanimation.
In my opinion they show fairly the cash transactions of the Association and the state of its affairs as at 30th June, 2024.
P M SCOLLEN
Hon Auditor
9th September, 2024
ACT REGION VETERAN GOLFER’S ASSOCIATION
AUDITORS REPORT FOR THE NATIONAL
CHAMPIONSHIPS 2023
The Statement of Receipts and Payments and accompanying
Statement of Assets of the ACT Region Veteran Golfers Association Inc. have been examined in accordance with the Accounts and Records as presented for my exanimation.
In my opinion they show fairly the cash transactions of the Association and the state of its affairs as at 30th June, 2024.
P M SCOLLEN
Hon Auditor
9th September, 2024
