For the year ended 30th of June 2010
2010 2009
Operating Income $1,064,702 $474,676
Other Income $17,799 $24,678
Total Income $1,082,501 $499,354
Operating Expenses $1,197,994 $501,550
Total Operating Surplus (Deficit) -$115,493 -$2,196
Retained surplus - Beginning of year $293,593 $295,789
Surplus attributable to the association: $178,100 $293,593
BALANCE SHEET
As at 30 June 2010
2010 2009
Current Assets
Cash and cash equivalents $261,319 $467,596
Trade and other receivables $42,616 $10,772
Other current assets $20,627 $7,490
Total Current Assets $324,561 $485,858
Non-Current Assets
Property, plant and equipment $3,476 $8,883
Total Non-Current Assets $3,476 $8,883
Total Assets $328,037 $494,741
Current Liabilities
Trade and other payables $65,121 $12,733
Employee entitlements $9,493 $9,493
Other liabilities $- -$793
Grants received in Advance $75,323 $174,825
Total Current Liabilities $149,937 $196,258
Long Term Liabilities $- $4,097
Total Liabilities $149,937 $200,355
Net Assets $178,100 $294,386
Members' Funds
Retained surplus - Beginning of year $293,593 $295,789
Surplus (Deficit) earned this year -$115,493 -$2,196
Total Members' Funds $178,100 $293,593
