QCWA Annual Report 2018-2019

Annual Report 2018–2019 • The Queensland Country Women’s Association

The Queensland Country Women's Association

Notes to the Financial Statements For the Year Ended 30 June 2019

8

Reserves

Restricted funds:

Restricted funds refer to donations and contributions made to the Association where the contributor or donor has designated the funds towards a specific appeal or purpose.

Designated funds:

Designated funds represent amounts held for specific branches and divisions for projects approved by Council.

Other Reserves:

Ruth Fairfax House maintenance reserve:

The Ruth Fairfax House maintenance reserve represents contributions and interest earnings to provide funds for planned maintenance of Ruth Fairfax House. The maintenance reserve is supported by a designated cash and cash equivalents balance.

Ruth Fairfax House sinking fund:

The Ruth Fairfax House sinking fund represents contributions and interest earnings to provide funds for planned replacement of capital items of Ruth Fairfax House. The sinking fund is supported by a designated cash and cash equivalents balance.

9 Reconciliation of result for the year to cashflows from operating activities

2019 $

2018 $

2,594,550

Surplus / (deficit) for the year

(2,112,896)

Cash flows excluded from surplus / (deficit) attributable to operating activities - depreciation

1,062,077 (810,392)

1,176,159 2,175,210

- net gain/(loss) on disposal of plant and equipment Changes in assets and liabilities: - (increase)/decrease in trade and other receivables

(29,776) (188,402)

45,799 250,960 55,718 (426,002) (25,464) 1,139,484

- (increase)/decrease in other assets - (increase)/decrease in inventories

(719)

(34,087) (7,525) 2,585,726

- increase/(decrease) in trade and other payables

- increase/(decrease) in provisions

Cashflows from operations

10

Contingencies

In the 30 June 2017 period, a claim for personal injuries was lodged. At 30 June 2019, no allowance has been made in the accounts for any liability that may arise from the matter as there has been no quantification of any claim and the committee expect to defend the claim through their insurer.

FINANCIAL

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