Annual Treasurer’s Report Financial Year Ending 30 June 2022· The 2021/2022 financial year started with an opening balance of $14,152. The closing balance as 30 June 2022 was $12,306.
· The society Bank account remains with ANZ Bank the account keeping fees total $120 for the financial year.
A treasurer prepared income and expenses summary statement for the last three financial years below.
| YE 30/06/2020 | YE 30/06/2021 | YE 30/06/2022 |
Opening Balance Start Financial Year | $2,802 | | $11,867 | | $14,152 | |
VG Weekend Income | | | | | $41,078 | |
BALLARAT WFS Income | $40,039 | | $28,561 | | $19,332 | |
Total Income FY | $40,039 | | $28,561 | | $60,410 | |
Expenses | | Percentage | | Percentage | | Percentage |
Dinner Expenses | $20,592 | 51% | $17,510 | 61% | $18,059 | |
Wine Purchases | $7,048 | 18% | $7,320 | 26% | $6,338 | |
Bank Fees | $125 | | $125 | | $120 | |
Insurance & Memberships | $920 | | $979 | | $979 | |
VG Weekend Payments/ Expenses | | | | | $41,705 | |
Agricultural $ Pastoral Society | $330 | | | | | |
Closing Balance End Financial Year | $11,868 | | $14,152 | | $12,306 | |
· The income collected for dinner and cellar fees total $19,332. The reduction on income compared to previous year ($28,561) is attributed to having hosted only eight dinners during the financial year compared to previous years hosting at least ten/ eleven dinners throughout the same period. Moreover, whilst we hosted dinners given number restrictions imposed by the state government the numbers of attending members reduced compared to previous years.
· We did not have dinner functions the months Sept 2021, January 2022, March 2022 and April 2022, due to restrictions due to COVID (Sept’21) and VG Weekend (March and April 2022).
· The expenses can be split as follows:
§ Dinner Expenses for the financial year accumulated to $18,059 (YE21 $17,510)
§ Wine Purchases for the financial year total $6,338 (YE21 $7,320.)
§ Other expenses(Insurance and Memberships) remained in par with previous financial year.
§ The Victor Gibson Weekend all income and expenses have been recorded in financial year ending 30 June 2022, noting that there was a nominal profit of $3.00.
· The reduction of income and the increase in dinner cost meant that cash reserves at the start of the financial year were used to meet cost for wine purchases and other expenses.
· Finally, want to express my sincere appreciation to each of you for your support and the opportunity to serve you as treasurer for the last four years, it has been quite an interesting experience as it provided with insights on the amount of work that takes place behind the scenes throughout the year and specially during the VG Weekend.
Gabriel Yanes Treasurer
