Concise Financial Reports 31 December, 2014

Transcription

1 Concise Financial Reports 31 December, 2014 The Armidale School Foundation ABN: A Company limited by Guarantee and not having share capital

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3 The Armidale School Foundation Limited ABN: Financial Statements For the Year Ended 31 December 2014

4 CONTENTS Financial Statements 1. Directors' Report 6. Auditors Independence Declaration under Section of the Austral ian Charities and Not for profits Commission Act Statement of Profit or Loss and Other Comprehensive Income 8. Statement of Financial Position 9. Statement of Changes in Equity 11. Statement of Cash Flows 12. Notes to the Financial Statements 25. Directors' Declaration 26. Independent Audit Report 29. Disclaimer 30. Detailed Income and Expenditure Account

5 Directors Report for the Year ended 31 December, 2014 Your directors present their report on the company and its controlled entities ("the group") for the financial year ended 31 December Directors The names of each person who has been a director during the year and to the date of this report are: Names Position Appointed/Resigned Simon Keith Paul President Andrew John Murray Senior Vice President Angela Sole Junior Vice President Edgar Patrick Bradley Secretary Malcolm Badgery Director Resigned 12 June 2014 Robert Liston Busby Director John Grant Director Richard Tomlinson Hodgson Director Melinda McDouall Director Philippa Helen Warrick Director Wallace Rutledge Director Resigned 25 February 2015 Walter Broun Director Directors have been in office since the start of the financial year to the date of this report unless otherwise stated. Principal Activities The principal activities of the group during the financial year were the raising of monies for scholarships and bursaries and the management of funds for the acquisition, construction and for maintenance of the buildings of The Armidale School. No significant change in the nature of these activities occurred during the financial year. Short term objectives The Foundation's short term objectives include increasing the number of new members donating funds to either the Scholarship Fund or the Building Trust as well as ensuring the stable management of the current portfolio of invested funds. Long term objectives The longer term objectives are based upon generating interest and affection from the broader school community of Old Boys, current parents and past parents so they feel a desire to join the Foundation and contribute to the school's long term future. There is a need to develop a substantial membership base, to maintain strong communication and to nurture involvement in the school. These form the basis for long term strategies for the Foundation. 5

6 Strategies 1. Active management of key relationships with significant existing donors to ensure continued fundraising support. 2. Increase contribution to existing Scholarship Fund and Building Trust. 3. Actively fundraise for specific school based projects. 4. Establish and manage Bequest strategy. 5. Raise the profile of the TAS Foundation. 6. Communication strategies for TAS stakeholder groups: Foundation members, Old Boys, parents, past parents. 7. Project manage the development of a Relationship Management Database that integrates with the school s database. 8. Manage the high profile events of the school to ensure maximum exposure of the Foundation. Performance measures The following measures are used by the group to monitor performance: To increase the profile of the TAS Foundation amongst the TAS communities with particular attention to Old Boys. This will be achieved through events held in Armidale, Sydney, Brisbane, Melbourne and other regional centres. To increase the number of Foundation members through targeted fundraising strategies: Annual Giving Program; Major Gift donations; Specific scholarships and bursaries e.g. Indigenous Student Sup port Fund, Jim Graham Scholarship (for humanities); and - Bequest strategy and recruitment. To increase the number of new Foundation members. 6

7 Director Information Information on Directors Simon Keith Paul Experience Special Responsibilities Andrew John Murray Experience Special Responsibilities Angela Sole Experience Special Responsibilities Edgar Patrick Bradley Experience Special Responsibilities Malcolm Badgery Experience Special Responsibilities Robert Liston Busby Experience Special Responsibilities John Grant Experience Special Responsibilities Richard Tomlinson Hodgson Experience Special Responsibilities Teaching Staff Representative Melinda McDouall Experience Special Responsibilities President Accountant Independent Director Senior Vice President Business Manager School Board Representative Junior Vice President Self Employed Independent Director Secretary Business Manager School Management Representative Director Accountant Trustee Representative Director Consultant School Board Representative Director Financial Planner Independent Director Director Business Manager Director Registered Nurse P&F representative 7

8 Philippa Helen Warrick Experience Special Responsibilities Wallace Rutledge Experience Special Responsibilities Walter Broun Experience Special Responsibilities Director Teacher Independent Director Director Self Employed Independent Director Director Self Employed Independent director Meetings of Directors During the financial year, 12 meetings of directors (including committees of directors) were held. Attendances by each director during the year were as follows: Eligible to attend Number attended Directors Meetings Eligible to attend Simon Keith Paul Andrew John Murray Angela Sole Edgar Patrick Bradley Malcolm Badgery Robert Liston Busby John Grant Richard Tomlinson Hodgson Melinda McDouall Phillippa Helen Warrick Wallace Rutledge Walter Broun Investment Committee Meetings Number attended 8

9 Members' Guarantee The company is incorporated and domiciled in Australia and a company limited by guarantee. If the company is wound up, the constitution states that each member is required to contribute a maximum of $ 5 each towards meeting any outstandings and obligations of the company. The number of members at 31 December 2014 was 780 (2013: 812). Auditors Independence Declaration A copy of the auditor's independence declaration as required under Section of the Australian Charities and Not for Profits Commissions Act 2012 is set out at page 6. Signed in accordance with a resolution of the Board of Directors: Director:... Director:... Simon Keith Paul Edgar Patrick Bradley Dated 29 April

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