RAVSTASS Multi-Sport Association

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 FY22
Cash 469.66 992.56 3,490.54 3,168.90 2,709.19 1,956.86 1,892.38 $5,049.73
Debtors 0.00 0.00 385.00 0.00 0.00 0.00 115.00 250.00
Stock 0.00 0.00 0.00 0.00 0.00 0.00 919.00 2,196.00
Asset Register 1,100.46 2,623.26 3,044.76 3,197.65 4,472.67 6,104.57 6,725.07 6,605.44
TOTAL ASSETS  1,570.12 3,615.82 6,920.30 6,366.55 7,181.86 8,061.43 9,651.45 14,101.17
Invoices Payable 405.15 0.00 0.00 175.00 0.00 0.00 0.00 0.00
Intra-Liabilities 0.00 0.00 385.00 385.00 185.00 0.00 2,037.41 3,050.77
TOTAL LIABILITIES 405.15 0.00 385.00 560.00 185.00 0.00 2,037.41 3,050.77
NET ASSETS 1,164.97
3,615.82 6,535.30 5,806.55 6,996.86 8,061.43 7,614.04 11,050.40
Accumulated Surplus  0.00 469.66 260.31 3,314.79 3,017.22 3,027.53 2,335.20 2,743.22
Current Year Surplus  469.66 (209.35) 3,054.48 (297.57) 10.31 (692.33) 408.02 2,807.72
Contributions  695.31 3,355.51 3,220.51 2,789.33 3,969.33 5,726.33 4,870.82 5,499.46
EQUITY 1,164.97 3,615.82 6,535.30 5,806.55 6,996.86 8,061.43 7,614.04 11,050.40
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 FY22
Income 469.52 3,801.98 6,989.05 887.37 2,751.49 1,235.47 11,960.43 13,542.02
Bank Interest 0.14 7.47 6.52 17.22 11.57 2.55 1.16 0.79
TOTAL INCOME 469.66 3,809.45 6,995.57 904.59 2,763.06 1,238.02 11,961.59 13,542.81
  
Supplier Payments 0.00 3,906.80 3,821.09 1,082.16 2,632.75 1,810.35 10,426.07 10,265.46
Bank Account Fees 0.00 112.00 120.00 120.00 120.00 120.00 120.00 120.00
Expensing Asset Register 0.00 0.00 0.00 0.00 0.00 0.00 1,007.50 349.63
TOTAL EXPENSES 0.00 4,018.80 3,941.09 1,202.16 2,752.75 1,930.35 11,553.57 10,735.09
 
NET SURPLUS 469.66 (209.35) 3,054.48 (297.57)
10.31 (692.33) 408.02 2,807.72
 
FY22 
Debtors - $250 represents current invoice issued from website. Previous Debtor value of $115 from FY21 had invoice cancelled as products were transferred onto the Loan Register. 
Intra-Liabilities - Figure represents all relevant Division/Sports/Clubs/Teams (i.e. non-HQ) that are currently in surplus. 

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. 
 
FY20 
Nil. 
 
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 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 (see second column below). 
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 
MR = Model Racing 
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 
29 - Support to Individual Athletes 
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