APHA Treasurers Report for year ended 30 June 2009

George Toemoe, Treasurer and Kathryn Lee, Finance Manager

The APHA financial result for the year ended 30 June 2009 was a surplus of $113,569 (2008: $193,871).

This sound financial result reflected a stable revenue base and continued careful monitoring, utilisation and allocation of expenditure.

A five year analysis of revenues shows that total revenue has remained relatively constant.   Over this period, revenue from Hospital members has declined but has been offset by revenue growth from Non Hospital members (Associates) and interest earnings.

During 2008/09 the Board continued to progress certain initiatives prioritised from the 2007 strategic review of the Association and costs of $117,544 were expended on such strategic initiatives.

Expenditure on APHA activities were carefully reviewed and monitored during 2008/09. Employee expenses remain the single largest category of expenditure and comprise just over 50% of the total expenditure.  Apart from the above mentioned strategic initiatives, other major categories of expenditure included meeting and travel costs, which were reduced as a result of the new governance structure and office administration.

The Balance Sheet shows the Association to be in a very healthy position and in a strong position going forward. The APHA Balance Sheet at 30 June 2009 shows members’ funds of $2,910,311 (2008: $2,796,742). There is good liquidity with a high level of cash reserves and modest current liabilities.

The incoming auditors, Duesburys Nexia has issued an unqualified audit report and in doing so advised that the internal controls in place, the accounting processes and financials statements are of a very high standard. Duesburys Nexia advised the Board that the accounts present a true and fair view of the financial position of the company at 30 June 2009 and that they complied with Australian Accounting Standards, Corporations Law and IFRS.