AVSN - Financial Statements (NSW Fair Trading)
IntroductionIt is a requirement for incorporated associations in New South Wales to submit financial statements for the previous financial year to its annual general meeting (AGM). The AVSN was a Tier 1 category association up until the end of 2010 and was therefore required to submit audited financial statements.
Members of the public can inspect/obtain copies of documents lodged with NSW Fair Trading on the Public Register under the Associations Incorporation Act 2009.
The AVSN's financial year runs from 1 January to 31 December and it is obliged to submit a financial statement to the membership at its AGM (to be held by 30 June the following year) before submitting it to NSW Fair Trading within one month of its AGM.
AVSN has rarely submitted its financial statement to Fair Trading on time and often the statements had to be resubmitted due to errors and/or omissions. The 2006 financial statement wasn't submitted to an AGM until 2008, with this AGM being held nearly two months late. The 2010 statement wasn't acceptable to Fair Trading until 5 months after the due date, the 2011 statement was signed by Meryl Dorey with a date of 13 November 2013, and the 2012 statement wasn't acceptable to Fair Trading until April 2014.
The AVSN has made available its financial statements from 1998 to 2012. Please refer to my post AVSN: financial statements 1998 to 2012 and note that these statements may not reflect those that were submitted to Fair Trading.
The financial figures in this post were sourced from AVSN financial statements that were submitted to NSW Fair Trading.
|Total Income $||Total Expenses $||Expenses|
% of Income
(1): total membership for years 2007 & 2008 is derived from membership income listed in financial statements.
(2): professional members sourced from AVSN's Living Wisdom magazine. AVSN stopped publicising professional memberships when the magazine ceased production in Jan 2013.
In this nine year period the AVSN had an income of two mllion dollars yet not a
single cent was paid out to a third-party that was not associated with the organisation's
running costs or promotion.
Expenses ate up 96 percent of income and included weekly payments to Meryl Dorey of at least $300 per week that commenced in 2005/2006 and only ceased in January 2013. Dorey has refused to divulge the total payment she received from the AVSN which I consider to be highly unusual and suspicious behaviour from a president and treasurer of - what was then - a registered charity.
Dorey has stated that her income from AVSN was for services rendered as editor of its magazine yet I note that since these payments began the AVSN has failed to supply a total of fourteen (14) issues of its magazine that had been pre-sold to members and subscribers.
Selected EntriesPlease note that the 2012 and 2013 financial statements submitted to Fair Trading do not contain itemised entries.
|Sale of Goods
- Other Goods
|Other Expenses (total)||106,916||165,166||164,809||139,694||80,668|
|Cost of Sales (total)||50,504||66,281||106,007||110,904||157,280|
- Editor Fee (Dorey)
- Leasing Charges
- Website Expenses
(1): from 2009 onwards the membership fee itemised in the statement only includes fees from professional members. Prior to 2009 it includes both professional and individual members.
Posted: 24 Nov 2012
Last update: 18 Sep 2014