Meeting papers

TREASURER’S REPORT

Overview
The 2024 financial year has been a period of remarkable growth and strategic development for the Peregian Beach
Surf Club. Our financial statements reflect substantial increases in income, strategic investments in assets, and a
prudent approach to managing our expenditures. This report summarises the key financial outcomes and strategic
insights from the year ending April 30, 2024.
Financial Performance
Income
     Total income for the year was $394,460, a significant increase from $281,485 in 2023.
     Key sources of income included:
     BBQ income rose to $28,751 from $17,271.
     Donations from the PBSLSC Supporters Club increased to $131,766 from $43,554.
     Grant income doubled to $111,217 from $58,631.
     Interest income increased substantially to $5,354 from $69.
Expenditure
    Total expenditure for the year was $229,462, up from $103,416 in the previous year.
    Notable increases included:
    Administration expenses, which rose to $70,659 from $28,111.
    Lifesaving costs, which increased to $25,567 from $8,635.
    Introduction of wages and salaries, totalling $35,334.
Net Surplus
     Despite the rise in expenditures, the club maintained a healthy net surplus of $164,998, slightly down from
       $178,069 in 2023.
Assets and Liabilities
     Total assets increased to $436,727 from $273,268.
     This includes an increase in cash and cash equivalents to $296,915 from $171,977, and property, plant, and
        equipment to $127,482 from $86,981.
     Other than some minor accounting adjustments, the club has no liabilities.
Equity
    Retained surplus grew to $337,105 from $178,069.
    Total equity increased to $428,804 from $269,768.
Key Achievements
1. Successful Fundraising and Support:
     The significant increase in income, particularly from donations and grants, underscores the strong support
        and successful fundraising efforts of the club.
2. Operational Expansion:
     Increased expenditures, especially in wages and lifesaving costs, reflect an expansion in the club's
        operational activities and programs, enhancing our community service capabilities.
3. Strategic Investments:
      Investments in property, plant, and equipment signify our commitment to improving the club’s
         infrastructure and resources, ensuring long-term sustainability and service quality.
Peregian Beach Surf Lifesaving Club           2023-2024 Annual Report                                  7


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