Annual General Meeting - 2019

2017-18 financial statements

Final annual financial statements for 2017-18 were not presented to last year's AGM, as full access to bank accounts and invoices had not been transferred to the Company Secretary from the previous association office holders. Nevertheless, preliminary financial statements were presented.

The differences between the final financial statements for 2017-18 (presented at this AGM) and the preliminary financial statements (presented at last year's AGM) are related to the Love Organic Symposium in February 2018:

• workshop expenses have been revised down by $1,903.40 (from $20,939.81 to $19,033.91)
• ticket sales have been revised down by $79.26 (from $9,800 to $9,720.74)
• sponsorship has been revised down by $318.18 (from $14,681.82 to 14,363.64)

Consequently, the profit (and net equity) for 2017-18 was $5,089 compared with the preliminary estimate of $3,583.04.

2018-19 financial statements

Highlights from the 2018-19 financial statements are:

• income was $7,460.57, comprising almost all membership fees
• 95% of membership fees was derived from foundation memberships
• total expense was $1,797.05, mostly comprising:
  • $658 for website hosting
  • $582 for fees, mostly related to company registration
  • $500 for a Board meeting (most meetings are by teleconference)
• profit was $5,663.52
• cash on hand was $10,292.11
• member equity was $10,752.52

Auditor's report

As the company is not legally required to appoint an auditor and the company's revenues were considered not sufficiently large to warrant the expense, members decided not to appoint an auditor for 2018-19.

Membership

At 30 June 2019, there were 74 members comprised:

At 8 November 2019, there were 106 members comprised: