Treasurers Report 2022

Details of the financial position of the BCSA at the end of the 2021-2022 financial year are set out in the two balance sheets that accompany this report. Total funds of $69,368.09 compares very favourably with $64,059.79 recorded at the end of the previous financial year and maintains the firm financial position for the BCSA.

The Operating Account balance is $21,846.50, temporarily inflated due to the return of the $15,000 seed funding from the National Show Account. The remaining entries on the balance sheet account for annual income and expenditure at routine levels. There will be a transfer of $15,000 from the Operating Account back to the Investment Account at its maturity on July 19.

The Investment Account currently holds a balance of $44,697.74. When the current term ends on July 19 it will be increased to $59,697.74 with the transfer of $15,000 from the Operating Account. This will replace the $15,000 originally transferred to the National Show Account as seed funding.

From July 19, the Investment Account will be rolled over for the minimum period of two months to allow the incoming Treasurer time to establish their banking arrangements for the BCSA.

The National Show Account balance is $2,878.85. This account was established to manage the finances for the national show hosted by the BCSA in May 2022. It was seeded with $15,000 transferred from the Investment Account ($5,000 during the 2020-21 financial year and a further $10,000 during the 2021-22 financial year).

This was done so that accounts could be paid prior to establishing an income stream for the show and as insurance in the event of the show running into deficit. The budget compiled prior to the event predicted a deficit, but the overriding consideration was that a national show had not been held since 2019.

The $2,878.85 surplus will be transferred to the Operating Account and the National Show Account closed soon after June 30, since all known national show expenses have now been paid.

Mention must be made of the outstanding fundraising efforts that allowed the show to end with a moderate surplus of $2,878.85. In addition to sponsorship from the ANBC and Golden Cob, substantial funds were raised through rosette sponsorship, auction commission, lucky squares associated with donated birds and the ANBC subsidising half of the States and Zones team transport between Adelaide Airport and the venue at Victor Harbor. The host state generally funds that in its entirety.

John Mulley
BCSA Treasurer