Treasurer’s Report 2021-2022
I am pleased to report ACOSS operated sustainably over the 2021–2022 year, recording a surplus of $61,241.
During the final quarter, ACOSS implemented a series of Board-endorsed expenditure containment measures while simultaneously applying a heavy focus on business development and fundraising in response to identified future -income risk associated with the ongoing absence of indexation on ACOSS’ core grant, combined with several multi year funding sources reaching an end. These measures proved effective and have set us in good stead for the year ahead. Total income for the year was $3,531,573 and expenditure was $3,470,332. These figures are consistent with the previous financial year. Wages remain the biggest cost area at 80% of total costs, while travel costs were lower for the year due to COVID-related restrictions. Looking at our balance sheet, reserves at 30 June 2022 are $796,577. This is slightly above the benchmark set by the Board and provides a buffer to unforeseen future risks. The 2022 financial statements have been audited by Stewart Brown and an unmodified audit opinion was issued. The financial statements will be made available on the Australian Charities and Not-for-profits Commission (ACNC) website