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Financial report

AGM IDN VICTORIA

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Financial Summary

  • Total Revenue: $14,750.84
  • Major Income Sources:
    • - Grants & Sponsorship ~$6k & $2k (VMC Grant & Menparekraf)
    • - Member Contributions (Membership)
    • - Cultural Events (Reog)
    • - Donations (Donation & In-Kind)

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  • Total Expenses: $11,124.93
  • Major Expense Areas:
    • - Event Delivery & Programming ~$8k
    • - Reog Asset Purchase: ~$4k

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  • Net Result: $3,625.91(Surplus)

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Balance Sheet Overview (31 Dec 2024)

  • Assets:
    • - Bank: $9,326364
    • - Reog Asset: $4,010.61(depreciation $332.79)
    • - Accrued Income & Prepayments: $815.00

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  • Liabilities:
  • - Current liabilities: $1,345.07
    • Membership received in advance
    • Donation received on behalf
    • Allowance for overhead cost

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  • - Non-Current liabilities
    • Nelemadike education aid: $2,731.25

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  • Net Assets: $8,258.14

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Event/Program Highlights by Category

  • Moomba:
    • - Received from organiser(Liability) : $2,775.00| Reimbursed: $1,485.00
  • Reog:
    • - Income: $12,672.90| Spent: $9,248.20

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  • Nele Dana bantuan pendidikan:
    • - Liability Allowance: $5,589.17| Disbursed: $2,731.25

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  • Membership fee & donations:
    • Membership: $1300.00 | Donations: $345.00

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Asset Management & Governance

  • Cultural Asset (Reog) added in 2024
    • - Depreciation: $524.00/year over 7 years

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  • Governance:
  • - Commercial accounting software (Xero)
  • - Transparency & Accountability (ACNC & DGR trustworthiness)
  • - Segregation of Duties & User Roles (Minimise fraud risk & audit compliance)
  • - Preparation for Annual Reporting (Lodge timely and compliant Annual Information Statements)
  • - Support for DGR Readiness(Separate donation vs other funds, track donation -> audit)
  • - Tracking Program-Specific Funding (Allows to show restricted fund usage required by ACNC and DGR compliance)

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Final Notes

  • - Financially sound year with strong community impact

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  • - One financial challenge on the horizon: significant cost associated with storage of the Reog cultural asset in 2025 ~ $179.00/month

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  • - Thanks to members, volunteers, and partners
  • - Questions?