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Financial Report 2013-2014
Currency Rates
Currency rates at the end of the fiscal year:
- USD: 0.939534
- EUR: 0.687900
Summary
Description |
2013/2014 |
Diff. |
|
Current Assets |
6960.54 AUD |
-26.5% |
9474.17 AUD |
Current Liabilities |
677.76 AUD |
-82.5% |
3873.55 AUD |
Equity |
6282.78 AUD |
+12.2% |
5600.62 AUD |
Income |
4982.09 AUD |
+49.3% |
3336.77 AUD |
Expenses |
4299.93 AUD |
-49.9% |
8576.93 AUD |
Profit |
682.16 AUD |
-113.0% |
-5240.16 AUD |
Current Assets
Acc. No. |
Account Name |
2013/2014 |
Diff. |
|
B212 |
Accounts Receivable USD |
-83.75 USD is -89.14 AUD1 |
-115.7% |
523.93 USD is 567.63 AUD |
B213 |
Accounts Receivable EUR |
150.28 EUR is 218.46 AUD |
- |
- |
B421 |
Westpac Transaction Account |
439.66 AUD |
+53.7% |
286.10 AUD |
B422 |
Westpac Savings Account |
1200.05 AUD |
-62.7% |
3220.24 AUD |
B423 |
Credit Union Australia |
137.25 AUD |
+0.0% |
137.25 AUD |
B431 |
PayPal AUD |
1833.18 AUD |
-40.1% |
3058.16 AUD |
B432 |
PayPal USD |
2107.54 USD is 2243.18 AUD |
+5.1% |
1969.22 USD is 2133.47 AUD |
B433 |
PayPal EUR |
672.70 EUR is 977.90 AUD |
+1271.1% |
50.33 EUR is 71.32 AUD |
Total Current Assets |
6960.54 AUD |
-26.5% |
9474.17 AUD |
- 1: The negative number is because of the prepayments for the membership fees some members made.
Current Liabilities
Acc. No. |
Account Name |
2013/2014 |
Diff. |
|
E113 |
Accounts Payable EUR |
-1060.21 EUR is -1541.23 AUD2 |
-338.5% |
456.00 EUR is 646.20 AUD |
E32 |
Provisions for bills to receive |
2218.99 AUD3 |
-31.2% |
3227.35 AUD |
Total Current Liabilities |
677.76 AUD |
-82.5% |
3873.55 AUD |
- 2: We made some prepayment of about 1000 EUR to secure-u so they have some reserve for paying the bills to BIT.
- 3: Contains the anticipated hosting costs for the first half of 2014. This is much less than before because we reduced our rack space to half a rack and made a new hosting arrangement with BIT.
Equity
Acc. No. |
Account Name |
2013/2014 |
Diff. |
|
C3 |
Retained earnings (last year) |
5600.62 AUD |
-48.3% |
10840.78 AUD |
PNL |
Retained earnings (this year) |
682.16 AUD |
-113.0% |
-5240.16 AUD |
Total Equity |
6282.78 AUD |
+12.2% |
5600.62 AUD |
Income
Acc. No. |
Account Name |
2013/2014 |
Diff. |
|
F1 |
Donations |
2529.11 AUD |
+81.7% |
1391.72 AUD |
F21 |
Membership Fees |
1006.98 AUD |
+8.9% |
924.88 AUD |
F22 |
Assurer Certificates |
198.08 AUD |
+297.9% |
49.78 AUD |
F23 |
Password Reset Service |
615.70 AUD |
+24.9% |
492.79 AUD |
F3 |
Advertising Income |
616.24 AUD |
+37.0% |
449.95 AUD |
=> Total Own Income |
4966.11 AUD |
+50.1% |
3309.12 AUD |
|
G1 |
Interest Income |
1.59 AUD |
-81.0% |
8.39 AUD |
G2 |
Income Suspense |
14.39 AUD |
-25.3% |
19.26 AUD |
=> Total Other Income |
15.98 AUD |
-42.2% |
27.65 AUD |
|
Total Income |
4982.09 AUD |
+49.3% |
3336.77 AUD |
Expenses
Acc. No. |
Account Name |
2013/2014 |
Diff. |
|
I22 |
Events |
- |
-100.0% |
476.42 AUD |
I74 |
Hosting |
4610.34 AUD4 |
-33.5% |
6937.05 AUD |
I75 |
Other Computer Costs |
- |
-100.0% |
561.24 AUD |
I82 |
Bank Service Charges |
340.02 AUD |
-47.9% |
652.41 AUD |
I83 |
Exchange Variance |
-650.43 AUD5 |
+1195.9% |
-50.19 AUD |
Total Expenses |
4299.93 AUD |
-49.9% |
8576.93 AUD |
- 4: Since the beginning of 2014 we have a new hosting agreement with BIT which dramatically reduces our hosting costs (thanks BIT). So we paid the old price for the second half of 2013 and the new one for the first half of 2014. For the future I expect yearly hosting costs of about 4500 AUD per year.
5: In this year we have a very high income in the foreign currency gain. This is actually a good and a bad thing. It's bad because the cause of it was that the Australian Dollar got under some pressure this year (http://www.xe.com/en/currencycharts/?from=AUD&to=EUR&view=1Y, http://www.xe.com/en/currencycharts/?from=AUD&to=USD&view=1Y). The good thing is that we had most of our money in foreign currencies (USD and EUR) so it didn't drop with the rest of the market. But that leads to an obscure effect: Although it seems that we have more money when looking at the Australian Dollars, we actually lost some. The reason is that we need to cover our hosting fees in EUR so if the AUD looses value we have to pay more of them to get the same service.
Profit
2013/2014 |
Diff. |
|
682.16 AUD |
-113.0% |
-5240.16 AUD |
Conclusion
Due some cuts in the hosting costs and increased income in donations we could turn our big minus from last year into a small plus. This number is to be taken with care though as one needs to account for the lost value of the Australian Dollar. So in reality it's probably a zero or even a small minus. The new infrastructure server that had an effect on last years loss turned out to be purchased just at the right moment. We just had transferred it to the Netherlands when we ran out of hard disk space on the old server. In this year there were no such investments but we should continue to try to improve our finances so that we can build up some reserves for when we need them in similar situations.