SACBCI 2018 AGM Minutes and Audited Financial Statements

Hi Everyone,

Our apologies for the delay in sending the following:

At the time of the AGM the 2017/2018 Financial Statements were being audited, therefore our 2017/2018 Financial performance was presented.  We were advised post AGM there had been a number of book keeping errors which required significant revision before being accepted for re-auditing.  The errors were resolved and accepted with the revised 2017/2018 Financial Statements be resubmitted for auditing.

The revised 2017/2018 Financial Statements were audited and accepted by the Council Executive (16th February 2019) resulting in a loss of ($10,694.83).  This loss is attributed to incorrect bookkeeping errors related to inventory that was received and not recorded and as a result was written down ($18,164.85) as well as a number of other small book keeping errors.  Originally it was reported at the AGM we had made a surplus of $6000.

As this was a long process and occurred during our busiest time we have been in a position to send the minutes and audited financials until now.

More than happy to discuss.




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