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Financials and Budgets

AHCSA is required by both the Associations Act 1995 and the majority of our funding agreements to have external audits undertaken of our financials that conforms to accepted industry standards. At AHCSA’s annual AGM’s, the Board appoints the external auditor and receives the auditor’s reports for the previous financial year.

At the end of each financial year, general purpose financial statements are prepared in accordance with Australian Accounting Standards, (including Australian Accounting Interpretations) and the Associations Incorporations Act 1985. AHCSA is a not-for-profit entity for financial reporting purposes under Australian Accounting Standards.

AHCSA’s Chart of accounts conforms to industry standards and AHCSA utilises accrual accounting processes that meet the Australian Accounting Standards, (including Australian Accounting Interpretations).

2015/2016 Financial Summary

The following Financial Statements and Notes presented in the 2013/2014 Annual report have been prepared on an accrual basis with the accompanying notes providing related party information. The Association has moved to a Cloud ERP System and NetSuite for its financials and business functions and AHCSA continues to outsource the payroll function to Integrated Payroll Systems.
2015/2016 Annual Report

2014/2015 Financial Summary

The following Financial Statements and Notes presented in the 2013/2014 Annual report have been prepared on an accrual basis with the accompanying notes providing related party information. The Association has moved to a Cloud ERP System and NetSuite for its financials and business functions and AHCSA continues to outsource the payroll function to Integrated Payroll Systems.
2014/2015 Annual Report

2013/2014 Financial Summary

The following Financial Statements and Notes presented in the 2013/2014 Annual report have been prepared on an accrual basis with the accompanying notes providing related party information. The Association has moved to a Cloud ERP System and NetSuite for its financials and business functions and AHCSA continues to outsource the payroll function to Integrated Payroll Systems.
Basso Newman and Co Chartered Accountants remained the Association’s appointed Auditors for the 2013/2014 financial year.
Significant Changes
Apart from the implementation of NetSuite, no other significant changes in activities occurred during the year.
Operating Result
In the 2013/14 financial year, AHCSA posts a deficit of $295,864. There were no abnormal items.
Signed in accordance with a resolution of the members of the Committee.
2013/2014 Annual Report

2012/2013 Financial Summary

The Financial Statements and Notes presented in the 2012/2013 Annual Report have been prepared on an accrual basis with the accompanying notes providing related party information. The Association has moved to a Cloud ERP System, NetSuite for its financials and business functions.
AHCSA continues to outsource the payroll function to Integrated Payroll Systems.
Basso Newman & Co Chartered Accountants remained the Association’s appointed Auditors for the 2012-2013 financial year. Galpins, Engler, Bruins & Dempsey continued in their capacity as the Association’s Accountants.
Significant Changes
Apart from the implementation of NetSuite, no other significant changes in activities occurred during the year.
Operating Result
In the 2012/13 financial year, AHCSA posts a surplus of $251,402. There were no abnormal items.
Signed in accordance with a resolution of the Members of the Committee.
2012/2013 Financial SummaryAHCSA’s annual budgets are prepared in negotiation with funding providers and are endorsed by the AHCSA Board, particularly for core funded programs. Program Level Budgets are prepared by the Chief Finance Officer in conjunction with the relevant Team Leader and/or Project Staff. Team Leaders/Program Managers are kept informed of their program/project’s progress in comparison with their funding allocation.
Financial Acquittals are provided to funding bodies as part of contract requirements and program budgets are developed in line with standard charts of accounts that assist in preparing program budgets and reports.
Reporting processes are followed to ensure that AHCSA’s accounts are an accurate reflection of current monies received and owed and reflect the relevant budget allocation. Financial reports, including approval of financial reports to funders, are submitted to the Board for endorsement.

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