WCC Annual Report - Page 29

Financial Report It is a testament to the financial responsibility of Whittlesea Community Connections that I am able to report a modest $11,470 surplus on our operations for the 2011-12 financial year. Over several years the organisation has taken a deliberate decision to apply some of its accumulated reserves to fund essential projects and programs that were either not funded or under-funded by government. This included underwriting the shortfall in funding for our volunteer resource service and social work casework position as well as funding the Whittlesea Community Transport Service, which continues to have no recurrent government support. The impact of this commitment has been a gradual erosion of our reserves. Through prudent management of funds we have been able to reverse the decline for this year. Our grant income increased by 6.8%, up by $104,881 when compared to the previous year. Our fund-raising efforts paid huge dividends with our previous year’s performance of $1,156 rising dramatically to $28,750. During the year we were determined to increase the financial contribution of our income-generating activities to the agency, finances and our efforts resulted in an 84% increase in self-generated income, up from $30,505 to $56,090. Though we saw a $6.79% increase in operational expenses, this was matched by the 6.8% increase in grant income. As a community organisation, the staff and board of Whittlesea Community Connections are committed to minimizing administrative overheads and we will continue to reduce costs whilst delivering high quality services. However, as we try and manage with the limited resources at our disposal, the needs in the community seem to grow unabated. Over the next 12 months it is estimated that the population of Whittlesea will grow by 160 people each and every week. We also anticipate an increase in refugee new arrivals, an increase in financial hardship and an increase in the numbers of people requiring assistance with crisis support (family violence, homelessness etc). In order to maintain our responsiveness it is important that pressure is applied to all levels of government to support the important work that our staff and volunteers do. For our part, we will strive to ensure that the agency remains financially sound in order that we are able to meet the challenges that are undoubtedly before us. I congratulate the board, staff and volunteers of Whittlesea Community Connections on this excellent year of service and th commend the audited financial statements to the 39 Annual General Meeting. GREG GODFREY, TREASURER Whittlesea Community Connections 28