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Finance


Jump to: Balance Sheet - Income Statement - Notes - Coding 

RAVSTASS Multi-Sport Association Incorporated
ABN 84 391 163 868
BALANCE SHEET
as at 30 Jun 
 
FY15 FY16 FY17 FY18 FY19 FY20 FY21
Cash 469.66 992.56 3,490.54 3,168.90 2,709.19 1,956.86 1,892.38
Debtors 0.00 0.00 385.00 0.00 0.00 0.00 115.00
Stock 0.00 0.00 0.00 0.00 0.00 0.00 919.00
Asset Register 1,100.46 2,623.26 3,044.76 3,197.65 4,472.67 6,104.57 6,725.07
TOTAL ASSETS  1,570.12 3,615.82 6,920.30 6,366.55 7,181.86 8,061.43 9,651.45
Invoices Payable 405.15 0.00 0.00 175.00 0.00 0.00 0.00
Intra-Liabilities 0.00 0.00 385.00 385.00 185.00 0.00 2,037.41
TOTAL LIABILITIES 405.15 0.00 385.00 560.00 185.00 0.00 2,037.41
NET ASSETS 1,164.97
3,615.82 6,535.30 5,806.55 6,996.86 8,061.43 7,614.04
Accumulated Surplus  0.00 473.04 75.93 3,130.53 2,832.56 2,862.29 2,150.78
Current Year Surplus  473.04 (397.10) 3054.59 (297.97) 29.73 (711.51) 548.25
Contributions  691.93 3,539.89 3,404.78 2,973.99 4,134.57 5,910.65 4,915.01
EQUITY 1,164.97 3,615.82 6,535.30 5,806.55 6,996.86 8,061.43 7,614.04
Jump to: Balance Sheet - Income Statement - Notes - Coding 

RAVSTASS Multi-Sport Association Incorporated
ABN 84 391 163 868
INCOME STATEMENT
for the period ending 30 Jun 
 
FY15 FY16 FY17 FY18 FY19 FY20 FY21
Online Payments 423.00 2,898.50 3,688.50 647.15 2,660.00 1,055.00 11,390.85
Less Pmt Fees -10.10 -66.62 -91.25 -25.13 -77.45 -40.36 -261.14
Direct Deposits 60.00 782.35 3,391.91 264.95 188.36 201.65 970.95
Bank Interest 0.14 7.47 6.52 17.22 11.57 2.55 1.16
TOTAL INCOME 473.04 3,621.70 6,995.68 904.19 2,782.48 1,218.84 12,101.82
  
Supplier Payments 0.00 3,906.80 3,821.09 1,082.16 2,632.75 1,810.35 10,426.07
Bank Account Fees 0.00 112.00 120.00 120.00 120.00 120.00 120.00
Expensing Asset Register 0.00 0.00 0.00 0.00 0.00 0.00 1,007.50
TOTAL EXPENSES 0.00 4,018.80 3,941.09 1,202.16 2,752.75 1,930.35 11,553.57
 
NET SURPLUS 473.04 (397.10) 3,054.59 (297.97)
29.73 (711.51) 548.25
 
FY21 
Intra-Liabilities - During the financial year the P&L coding system was implemented to break-up the P&L by division/activity. The incomes/expenses and associated surplus' accumulated for divisions/activities is now recognised and reported to sports/activity managers monthly. Accordingly, the total of these internal line items is recognised as a liability for the Association. The effect of this was a retracement of net assets. 
 
FY19 
Intra-Liabilities - $385 held in Trust for Southern Kings was reduced by $200 due to forfeit fines paid on 4Mar19. Remaining balance as at EOFY19 $185. Further expense of $360 incurred, which was paid on 30Jan20 for cancelled training sessions that were late advised. 
 
FY18
 
Invoices Payable - $175 awaiting invoice from EHBA.
Intra-Liabilities - Funds of $385 returned by Port Adelaide Council for Kilburn Community Centre and held on behalf of Southern Kings.  
 
FY17 
Debtors - Key and Bond deposit of $385 paid to Port Adelaide Council for Kilburn Community Centre stadium access (Key Deposit $55, Bond $330). 
Intra-Liabilities - Key & Bond deposit funds belong to Southern Kings Basketball. 
Direct Deposits - Included $2,595.76 in Donations. 
 
FY16 
Direct Deposits - Included $724.35 in Donations. 
 
FY15
 - Represented period from 10 April 15 to 30 Jun 15. 10 April was date of Pre-Incorporation General Meeting. 
Invoices Payable - Represents payments to various suppliers which were grouped together as reimbursement. This was necessary in order to pay suppliers on time while waiting-out for dedicated RAVSTASS bank accounts to be opened. Further expenses were incurred prior to incorporation and paid under direct sponsorship by the founder. 
Online Payments - Included included PayPal transaction fees. PayPal no longer used for gateway. 
 
Recommended reading on Accounting Definitions.
ATO Income Tax Exemption Guidance for Sporting Organisations
 

Coding Transactions 
To be able to run separate Income Statements to internally manage, track and budget separate sports and activities, the following coding of transactions needs to be applied to banking transactions and online transactions. This is to be managed by the Committee and guidance provided where delegated to other managers to effect transactions. This will enable performance reporting at macro level of each division and micro level of each sport/activity. 

Coding of transactions is made up of eight (8) characters: 
1st Character = R for RAVSTASS. 
2nd = Division (if HQ = 0). 
3rd & 4th Characters = Activity (if no specific activity = AA). 
5th & 6th Characters = Reason. 
7th & 8th Characters = Detail (default is 00). 
 
For example....
R8BA1100 = Stadium Division Basketball Team Operations. 
R1AA5300 = River Division All Activities Sponsorship from a Community group. 
R6GO6100 = Aim Division Golf specific Grant from a Business. 
R0AA8900 = HQ Interest earned. 
The last two (2) characters, placed 7th & 8th are by default 00. 
To request further codes be added, please contact the Treasurer

Character
(1st) 
CodeID 
Digits
(2nd)
Division 
Characters
(3rd & 4th)
Activity 
Digits
(5th & 6th)
Reason 
R = RAVSTASS 0 = HQ 
1 = River 
2 = Air 
3 = Valley 
4 = Sea 
5 = Track 
6 = Aim 
7 = Snow 
8 = Stadium
9 = Multi-Sports  

AA = All Activities
AR = Archery
BA = Basketball
GK = Go Karting
GO = Golf
HI = Hiking
JS = Jet Ski
KA = Kayaking
MB = Mountain Biking
MO = Motorcycling
NE = Netball
PO = Pool
RC = Rockclimbing
SC = Scuba
SH = Shooting
SK = Skydiving
SL = Slackilining
SU = Surfing
WA = Waterskiing
10 = Operations 
11 = Operations Teams
12 = Operations Events
13 = Operations Awards
20 = Support 
21 = Support First Aid
22 = Support Signage & Banners
30 = Membership 
31 = Membership Subscriptions
32 = Membership Discount Cards
33 = Membership Postage
34 = Membership Merchandise
40 = Donations 
41 = Donations Businesses 
42 = Donations Organisations 
42 = Donations Community 
43 = Donations Members  
50 = Sponsorship 
51 = Sponsorship Businesses 
52 = Sponsorship Organisations 
53 = Sponsorship Community 
54 = Sponsorship Members 
60 = Grants 
61 = Grants Businesses 
62 = Grants Organisations 
63 = Grants Community 
64 = Grants Members 
65 = Grants Government 
70 = Committee 
71 = Committee Association Incorporation
72 = Committee Insurance
73 = Committee Business Cards
74 = Committee Cloud Storage
75 = Committee Ink Stamps
76 = Committee Electronics
80 = Finance 
81 = Finance Fees Banking
82 = Finance Fees Accounting
83 = Finance Fees Auditing
89 = Finance Interest
90 = Vending 
91 = Vending Hire
92 = Vending New Books 
93 = Vending Used Books 
94 = Vending New Clothing 
95 = Vending Used Clothing 
96 = Vending New Equipment 
97 = Vending Used Equipment
98 = Vending POS Websites
99 = Vending HDWD