TREASURER’ S REPORT
The Audited Financial Reports for the year ended 30th June 2015 for this Fitzroy Learning Network are included in the Annual Report. Fitzroy Learning Network posted a $ 29,000 deficit for the year. Ongoing record keeping issues which reduced funding from Skills Victoria, and increased staff costs following filling the vacancies from the prior year, have largely been offset by the generous donation from other contributors. Overall Reserves and forecasts indicate that FLN remains in a sustainable position.
We express our appreciation to all bodies that have provided funding throughout the past year and for recognising the value of the work that we do. It is due to their generous support that we are able to offer our programs and services to the community.
I would like to acknowledge the work of Rouba Al Masri and Brett Nangle in maintaining the finance function during the year following the early retirement of Vasco Tanevski. I would also like to express gratitude for the work of the previous Treasurer Keren Dattner. The contributions of fellow Finance Committee members; Mark Madden, Antonia Mochan and William Bowman are also greatly appreciated. Thank you all.
A full version of the Annual Financial Report is available on the website.
STATEMENT OF CHANGES IN EQUITY
For the Year Ended 30 June 2015
Accumulated Funds
Balance at 1 July 2013 163,469
Total comprehensive income /( loss) for the period
$
75,406
Balance at 30 June 2014 238,875 Balance at 1 July 2014 238,875
Total comprehensive income /( loss) for the period
( 28,837) Balance at 30 June 2015 210,038
Kevin Ahern
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