CADCAI Audited Financial Report 2016 Summary & Analysis

The CADCAI Audited Financial Report for 2016 reveals key insights into the organization's financial performance. CADCAI is a not-for-profit organization with income tax exemption and registered GST. The report showcases a current year profit of $14,067 and total retained profit since 1986 of $412,306. Financial highlights include an increase in cash at bank, reduction in trade debtors, and growth in fixed assets. The report also compares financial data over three years, detailing cash at bank, fixed assets, total assets, liabilities, and retained earnings. Additionally, it outlines the sources of income for CADCAI, including grants, donations, membership fees, and various events and projects. The report emphasizes transparency and accountability in managing financial resources for the organization's intended purposes.

• Financial report
• CADCAI
• Not-for-profit
• Audit
• Financial analysis

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1. CADCAI AUDITEDFINANCIAL REPORT 2016 30 June 2016 PRESENTED BY GRACE GE at AGM 12/11/2016

2. 2016 Financial Report Some concepts about CADCAI accounts CADCAI 1. Not-for- profit organisation 2. Income tax exemption 3. Registered GST 4. Government grants/funds used exclusively for its intended purposes 5. $2 or more donation to CADCAI tax deduction 2 6. All volunteers

3. 2016 Financial Report Current Year Profit : $14,067 Total Retained Profit since 1986 30 : $412,306

4. 2016 Financial Report 1. Balance Sheet Cash at bank increased $329,655 Trade debtors reduced $545 (But bad debts increased) Fixed assets increased : $12,590

5. 2016 Financial Report o o Historical assets Actually there are more historical assets holding by CADCAI but not listed on the financial statements. Also our land value is cost value not market value. o

6. 2016 Financial Report 3 Years Comparison Cash at bank 2016 2015 2014 $ 329,655 $ 325,938 $ 300,731 Fixed Assets $ 82,651 $ 72,301 $ 75,378 Total Assets $ 412,306 $ 398,239 $ 376,109 Current Liabilities $ 774 Net Assets $ 412,306 $ 398,239 $ 375,335 Retained Earnings at the beginning of year Current year earnings $ 398,239 $ 375,335 $ 345,309 $ 14,067 $ 22,904 $ 30,026 Retained Earnings $ 412,306 $ 398,239 $ 375,335

7. 2016 Financial Report Profit & Loss 2. Tell us where money comes from and goes to

8. 2016 Financial Report Money From: CADCAI functions: Stall sales Lion performance etc Dinner & Banquet Carnival on Collins Different Project Others Grants from government: Chinese New Festival /Heritage/volunteer program/RADF Donations and Sponsorship: Sundry income: lion T-shirts, book sold etc: School: Interests income: Membership fees:

9. 2016 Financial Report Money TO: Chinese New Year Festival Heritage related expenses CADCA Function Operating costs School Others

10. 2016 Financial Reports CADCAI is not-for-profit organization. A non profit organization (NPO, also known as a non-business entity) is an organization that uses its surplus revenues to further achieve its purpose or mission, rather than distributing its surplus income to the organization's shareholders (or equivalents) as profit or dividends. CADCAI mission is to share and celebrate and protect the region s Chinese culture and heritage, enriching the cultural, social and economic diversity of our local community. Why we focus on profits?

11. 2016 Financial Reports Why we focus on profits? Target or Dream Chinese Culture Centre

12. 2016 Financial Report Spending procedures Budget for government grants /project costs Pre-approved: Approve at monthly meeting Reimburse once it occurs:

13. 2016 Financial Report Management & Control Dual signatories (traditional payment way) Independent interests Expenses approved Claim reimbursement with tax invoice Treasurer report All cheque payments Budget & summary report Monitor/supervise by the committee, members and grantors Authorized persons log on line to check bank details

14. 2016 Financial Report To do lists in 2016 Year (All done) Check conflict of interests Increase variety of suppliers Increase transparency of accounts Continually reduce aging of accounts receivable MYOB file on cloud. GST sub entity s concept used.

15. 2016 Financial Report To do lists in 2017 Save all relevant spending documents on line chronologically prior to making payments/reimbursements. Get receipts for all association payments.

16. 2016 Financial Report Q & A

17. 2016 Financial Report 2014 year Broaden source & reduce expenditure 2015 year You Care & I Care Where many help to gather firewood, the flames shoot high.

18. 2016 Financial Report 2016 Year Nothing is impossible to achieve your dream!

19. 2016 Financial Report Thank you.