2021-2022 Treasurer Report
Hi there
This is my first year as Treasurer of Harm Reduction Victoria (HRVic), after being elected as a Board Member at last year’s AGM.
Dr Chooi Beh - Chartered Accountant conducted the 2021/22 audit.
He delivered a satisfactory report with no concerns raised regarding organisational management of finances. HRVic is in a financial position to pay all of its debts as and when they become due and payable.
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HRVic has had another sound financial year showing a surplus of $145,380.
As expected, the most significant expenses were Employee Expenses (salary and on-costs) of $1,097,912.
This is approximately 59% of overall expenditure for HRVic.
In addition to these expenses, we see expenditure on Volunteer Reimbursements of $21,342, which is an indicator of Harm Reduction Victoria’s engagement with and valuing of the community with which we work so closely.
Our income total of $2,020,684 is predominantly from the Victorian State Government (VSG).
A total of $1.78 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 & AIVL in particular for their support of our work over the last 12 months.
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Accumulated Funds have increased to $854,314 in 2021/22 from $708,934 in 2020/21.
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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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Please if you have any questions I am happy to make the time to answer them.
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Peter Higgs
Treasurer