Zero Emissions Noosa Inc. (ZEN Inc.) Annual Report · ATTACHMENT 1_ZEN Inc. Report on Partnership Alliance Agreement to Council 2024

While this might look like a healthy bank balance, the majority of these funds are project based from
grants and so are allocated to a specific projects. Refer to Appendix H for details.

b. P&L for Projects Jan. – Dec., 2024
The Profit & Loss Statement by Project shows that for the period 01 Jan., 2024 to 31 December 2024
all $150,144.89 of funds were spent as per project plans.
Refer to Appendix I for details.

c. Balance Sheet- as at 31 Dec., 2024
ZEN Inc. total assets were $244,570.032, with total liabilities $13,195.73 and net assets were
$231, 379.79 and equity at $231, 379.79. See Appendix J.

 11. Audited financial report for financial year
The accounts audited by Louise McNeich, auditor, LMC Financial Group at Cooroy.
Refer to Appendix K. As the audited accounts were only provided by the Auditor recently, they are
attached unsigned as it has not been possible to get them signed by both parties prior to submitting
this report.

 12. Donations - DGR funds
Zero Emissions Noosa Inc. was granted DGR status with immediate effect by the Assistant Minister
for Competition, Charities and Treasury on 23 September 2022. The balance of the account has
varied, as funds have been transferred to the Operating Account to meet expenses, on an as needs
basis, particularly for the 2024 EV & Electrify Everything Expo. The expenditure of these funds have
been agreed by the ZEN Inc. Public Fund Account Committee, as meeting the objectives of the
organisation.

 Date               Balance
 01 Jan. 2024       $1,728.05
 Nov. 2023          $18239.04 following donations to ZEN Inc.
 26 Aug., 2024      $1,778.94 after funds from this account were used to assist the objectives of
                    ZEN Inc., including the 2024 Expo.
 31 Dec., 2024      $2,309.24 following further donations

ZEN Inc. is actively seeking donations to it’s Public Fund Account.

    13. Any significant delays in performing the ZEN Inc. program for this
    Agreement
The biggest risk for Council and ZEN Inc. is finding sufficient volunteers to be project leaders and to
actively drive projects and source future funding sources. Hence, the ability to appoint a part time
Program/Project Manager in late 2024, will partly assist our volunteers in 2025 with projects..
Getting dedicated volunteers, with time, since COVID has been difficult, and many of the very active
volunteers who have been involved with ZEN Inc since it’s inception or for many years, after having
given thousands of hours of volunteer time to ZEN Inc. & Council, have stepped back from being
actively involved in ZEN Inc. projects.




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