Finance
RAVSTASS Multi-Sport Association Incorporated
ABN 84 391 163 868
BALANCE SHEET
ASSETS | FY15 [1] | FY16 | FY17 | FY18 | FY19 | FY20 |
Current Assets | ||||||
Incomes Account | $20.00 | $20.00 | $20.00 | $200.00 | $40.00 | $40.00 |
Savings Account | $429.66 | $962.56 | $3,460.54 | $2,948.90 | $2,639.19 | $1,896.86 |
Expenses Account | $2.00 | $10.00 | $10.00 | $20.00 | $30.00 | $20.00 |
Stock | $0.00 | $0.00 | $0.00 | [6] $384.52 | [10] $560.00 | [11] $423.35 |
Total Current Assets | $451.66 | $992.56 | $3,490.54 | $3,553.42 |
$3,269.19 | $2,380.21 |
Non-Current Assets | ||||||
Asset Register [2] | $1,100.46 | $2,623.26 | $3,044.76 | $3,197.65 | $4,472.67 | $6,104.57 |
Total Non-Current Assets | $1,100.46 | $2,623.26 | $3,044.76 | $3,197.65 | $4,472.67 | $6,104.57 |
TOTAL ASSETS | $1,552.12 | $3,615.82 | $6,535.30 | $6,751.07 | $7,741.86 | $8,484.78 |
LIABILITIES | ||||||
Accounts Payable | [3] $405.15 | $0.00 | $0.00 | [7] $560.00 | [9] $185.00 | $0.00 |
TOTAL LIABILITIES | $405.15 | $0.00 | $0.00 | $560.00 | $185.00 | $0.00 |
NET ASSETS | $1,146.97 | $3,615.82 | $6,535.30 | $6,191.07 | $7,556.86 | $8,484.78 |
EQUITY | ||||||
Opening Equity | $1,091.14 | $1,146.97 | $3,615.82 | $6,535.30 | $6,191.07 | $7,556.86 |
Non-Cash Donations to Asset Register | $0.00 | $1,250.00 | $250.00 | $152.89 | $1,275.02 | $1,680.25 |
Retained Earnings in FY | $55.83 | $1,218.85 | $2,894.48 | ($497.12) | $90.77 | ($752.33) |
TOTAL EQUITY | $1,146.97 | $3,615.82 | $6,535.30 | $6,191.07 | $7,556.86 | $8,484.78 |
RAVSTASS Multi-Sport Association Incorporated
ABN 84 391 163 868
INCOME STATEMENT
ending 30 Jun
INCOME | FY15 [1] | FY16 | FY17 | FY18 | FY19 | FY20 |
Transactions Website | $423.00 | $2,898.50 | $3,688.50 | $622.42 | $2,563.13 | $1,033.82 |
Transactions Direct Deposits | $0.00 | $0.00 | $0.00 | $734.95 | $156.36 | $201.65 |
Cash Sponsorship | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Cash Gifts | $0.21 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Cash Donations | $60.00 | $782.35 | $2,709.76 | $125.00 | $32.00 | $0.00 |
Bank Interest | $0.14 | $7.47 | $6.52 | $17.22 | $11.57 | $2.55 |
TOTAL INCOME | $483.35 |
$3,688.32 |
$6,404.78 | $1,499.59 | $2,763.06 | $1,238.02 |
EXPENSE | ||||||
Supplier Payments | $405.15 | $2,179.61 | $3,385.45 | $1,864.22 | $2,536.84 | $1,855.93 |
Foreign Currency Fees | [4] $22.37 | $49.86 | $64.85 | $12.49 | $15.45 | $14.42 |
Bank Account Fees | $0.00 | $240.00 | $60.00 | $120.00 | $120.00 | $120.00 |
TOTAL EXPENSE | [5] $427.52 | $2,469.47 | $3,510.30 | $1,996.71 | $2,672.29 | $1,990.35 |
NET SURPLUS | $55.83 | $1,218.85 | $2,894.48 | [8] ($497.12) |
$90.77 | ($752.33) |
Notes to this Report:
1. Represents period from 10 April 15 to 30 Jun 15. 10 April was date of Pre-Incorporation General Meeting.
2. Asset Register is maintained by the Treasurer here.
3. Accounts 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.
4. In FY14/15 included PayPal transaction fees. PayPal no longer used for gateway.
5. Further expenses were incurred prior to incorporation and paid under direct sponsorship by the founder.
6. Reversible Basketball Singlets, Caps, Polo Shirts and Sleeveless Tops.
7. $385 returned by Kilburn Community Centre in trust on behalf of Southern Kings (Key Deposit $55, Bond $330). $175 awaiting invoice from EHBA.
8. Deficit comparable to the website annual renewal fee ($410.06), and first reporting period in which no donation from founder was made to cover this expense. Disregarding this, all other activities ran near break-even.
9. $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. Nil funds held in trust as at EOFY20.
10. Stock as at EOFY19: 1xCap $35, 16x Socks $240, 2x Polo Shirts-Poly $110, 7x Polo Shirts-Mesh $175).
11. Stock reduced by payment of $136.65 on 9Jul19.
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, including six (6) digits. For example....
RS080102 = Basketball Teams
RS010011 = Sponsorship for all Sports in River Division
RS060131 = Golf specific Grant
Prefix CodeID |
Digit 1&2 Divisional |
Digit 3&4 Sport/Activity |
Digit 5&6 Reason |
RS | 00 = HQ | 00 = HQ 01 = President 02 = Vice-President 03 = Secretary 04 = Treasurer 80 = HDWD MoU 90 = RAVSTASS Brand |
01 = Core 02 = Teams 03 = Events 11 = Sponsor [Name] 21 = Donor - rebel Community Givebacks 31 = Grant [Name] 51 = Consignment Hire [Name] |
RS | 01 = River | 00 = All Sports 01 = Kayaking |
01 = Core 02 = Teams 03 = Events 11 = Sponsor [Name] 21 = Donor [Name] 31 = Grant [Name] 51 = Consignment Hire [Name] |
RS | 02 = Air | 00 = All Sports |
01 = Core 02 = Teams 03 = Events 11 = Sponsor [Name] 21 = Donor [Name] 31 = Grant [Name] 51 = Consignment Hire [Name] |
RS | 03 = Valley | 00 = All Sports 01 = Slackilining 02 = Rockclimbing 03 = Hiking |
01 = Core 02 = Teams 03 = Events 11 = Sponsor [Name] 21 = Donor [Name] 31 = Grant [Name] 51 = Consignment Hire [Name] |
RS | 04 = Sea | 00 = All Sports 01 = Surfing 02 = Scuba |
01 = Core 02 = Teams 03 = Events 11 = Sponsor [Name] 21 = Donor [Name] 31 = Grant [Name] 51 = Consignment Hire [Name] |
RS | 05 = Track | 00 = All Sports 01 = Motorcycling 02 = Go Karting |
01 = Core 02 = Teams 03 = Events 11 = Sponsor [Name] 21 = Donor [Name] 31 = Grant [Name] 51 = Consignment Hire [Name] |
RS | 06 = Aim | 00 = All Sports 01 = Golf 02 = Archery |
01 = Core 02 = Teams 03 = Events 11 = Sponsor [Name] 21 = Donor [Name] 31 = Grant [Name] 51 = Consignment Hire [Name] |
RS | 07 = Snow | 00 = All Sports |
01 = Core 02 = Teams 03 = Events 11 = Sponsor [Name] 21 = Donor [Name] 31 = Grant [Name] 51 = Consignment Hire [Name] |
RS | 08 = Stadium | 00 = All Sports 01 = Basketball 02 = Netball |
01 = Core 02 = Teams 03 = Events 11 = Sponsor [Name] 21 = Donor [Name] 31 = Grant [Name] 51 = Consignment Hire [Name] |