Fitzroy Learning Network Inc.
Annual Financial Report
For the year ended 30 June 2016
Notes to the Financial Statements
2016
$
Note 4
(a) Revenue
Government Grants
Program Income
Donations Received
(b) Other income
Sundry income from various programs
Total revenue and other income
(c) Program expenses
Operating lease rentals
(d) Expenses
Staffing expenses
Salaries and wages
Provision for annual leave
Provision for long service leave
Superannuation
Other associated personnel expenses
Total staffing expenses
2015
$
405,992
25,031
298,496
729,519
312,398
7,747
305,088
625,233
10,300
739,819
30,130
655,363
35,103
31,207
580,505
9,555
52,509
10,576
653,145
514,311
19,196
(7,738)
46,876
8,517
581,162
(e) Interest income
Interest income of $2,125 (2015: $4,591) consists of interest income on term deposits.
Note 5
Receivables
Sundry Debtors
Accrued Income
Note 6
9,097
9,097
12,450
12,450
13,744
13,560
(8,357)
18,947
28,554
5,431
(20,241)
13,744
Equipment and Property Improvements
Balance at 1 July
Additions
Depreciation
Balance at 30 June
Note 8
63,487
63,487
Other Assets
Prepayments
Note 7
66,630
66,630
Payables
Creditors
Accrued expenses
Net GST Payable
Total Payables
78,072
29,521
4,741
112,334
8,838
45,048
5,122
59,008
10