Treasurer
Report.

This is my fourth year as Treasurer of Harm Reduction Victoria, after being elected in 2018 at the Annual General Meeting.

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Dr Chooi Beh - Chartered Accountant conducted the 2020/21 audit. He delivered a satisfactory report with no concerns raised regarding organisational management of finances. Harm Reduction Victoria is able to pay all of its debts as and when they become due and payable.

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HRVic has had a sound financial year showing a surplus of $39,200. The most significant expenses were Employee Expenses  - Salary and on-costs of $990,748. This is approximately 56% of overall expenditure. In addition to these expenses we see expenditure on Volunteer Reimbursement of $45,931, which is an indicator of Harm Reduction Victoria’s engagement with and valuing of the community. This increased in 2021 only because of a renaming of the item line.

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Our income total of $1,815,783 is predominantly from the Victorian State Government (VSG). A total of 1.6 million from the VSG includes Grants that were held over from previous years and expended and other Government Grants which we were permitted to hold over until the current year. We also received smaller but still significant pieces of income for various fee-for-service and other projects. We thank the VSG as well as the Burnet Institute in particular for their support.

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Accumulated Funds has increased to $708,394 in 2020/21 (2019/20 $637,611). This is a result of merging a General Reserve account with our Accumulated Funds of 637,611 last year and our Operating Surplus of $676,311.

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In summary, it has been another successful year for Harm Reduction Victoria and I would like to thank the HRVic staff and Board as well as our accounts consultants for their support and assistance throughout the year.

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Joël Murray

Treasurer