Financial Update – 2012 results and 2013 Projections

Paul EvansTreasurer, iNADO

Key Financial Facts 2012

INCOME: $185K• 22 paid up members • Membership income $78k• WADA grant $107k• 97% income target

Key Financial Facts 2012

EXPENDITURE• Budgeted expenditure $166K • Actual expenditure $117k• Spent 70%

Key Financial Facts 2012

EXPENDITURE

91740.0328064; 78%

6412; 5%

4028.36; 3%

2156.46; 2%

503.43; 0%

1095.2439;

1%

10953.8594262; 9%

Staff CostsGovernance CostsOffice costsIT & TelephoneBank chargesPrint & DesignTravel

Key Financial Facts 2012SURPLUS AT END 2012• Budgeted surplus $24K• Actual surplus $68K• Reserves target: 6 months worth operating activities• 43% so far

2013 Projections/ results to date

INCOME BUDGET $330k• Target of 40 members, with income target

$170K• So far 35 members, $187K• WADA Grant $160K

2013 Projections/ results to date

BUDGETED EXPENDITURE $316,700

241800; 76%

16500; 5%

18400; 6%

8500; 3%

1500; 0%

25000; 8% 5000; 2%

Staff CostsGovernance CostsOffice CostsIT & PhonesBank chargesTravelWorkshops

Cash Position

Cash Position Cash at 31 December 2012 = $155kWADA Grant = $160KMEMBERSHIP INCOME = $187kLESS ADVANCED GRANT/INCOME = $80kTOTAL CASH = $422kBUDGETED SPEND & 2012 PAYABLES = $330k EXCESS OF CASH OVER SPEND = $92k

Draft Financial Statements 2012

STATEMENT OF COMPREHENSIVE INCOME

Grant income 106,667Membership Income 78,137

184,804

Expenditure

Staff and related costs 91,740

Rent, travel and other administrative costs 18,737

External Auditors 6,412

116,889

Net income before taxation 67,915

Taxation -

Total Net comprehensive income for the period 67,915

Income

STATEMENT OF FINANCIAL POSITION

US$ US$

ASSETS

Current assetsTrade and other receivables 5,825Cash 156,247

Total current assets 162,072

Current liabilitiesTrade and other payables 94,157

Total current liabilities 94,157

Assets less total liabilities 67,915

Reserves

Retained Profit & Loss 67,915

67,915