Revenue & Expenditure
Volunteering WA achieved a strong surplus of $310,379 for the 2019/20 financial year. The result was achieved despite the significant impact of the COVID-19 pandemic on a number of programs and scheduled events. This included the cancellation of the National Volunteer Conference to be held in March 2020. With crucial support from our sponsors, suppliers and government the potential financial impact has been contained.
Revenue increased by 13% overall with growth in the corporate volunteering program and events sponsorship. Reliance on government funding sources continues to reduce and represented 38% of revenue in 2019/20, down from over 50% just 2 years ago in 2017/2018.
Expenditure on staffing and program / event costs increased in line with revenue offset by reduced spending on outgoing grants (due to the postponement of the 2020 National Volunteer Week grants program). As Volunteering WA is a service based organisation the majority of expenditure relates to staffing which represented 69% of overall costs. Prudent management of administration and operating costs have resulted in an 18% reduction to less than 8% of revenue.
Statement of Financial Position
The Statement of Financial Position can be found here. Volunteering WA remains in a strong financial position with healthy cash reserves and manageable liabilities. In comparison to 2019 there has been an increase in cash and payables represented by grants received in advance for programs and events to be delivered in 2020/21.
The 2020/21 operating budget has a forecast surplus with a 25% projected increase in revenue from new programs in addition to the ongoing core activities of our growing organisation. A full copy of the audited financial statements are available at here.
Volunteering WA engages Bentleys as an external auditor to independently review its financial systems and reporting and to uphold the integrity of the reporting process.
Volunteering WA operates as a not-for-profit incorporated association with status as a Public Benevolent Institution.
Finance, Audit and Risk Committee
Members of this Committee are appointed by the Board on an honorary basis and meet 5 times per year.
- Jason Clifton (Chair), Senior Vice President, Financial Services, Woodside Energy
- Justine Colyer, CEO, RISE
- Pat Scally, IT and Business Executive
- Belinda Salvoni, Place Manager, City of Bayswater
- Andrea Cole, Senior Manager Finance and HR, Volunteering WA
- Tina Williams, CEO, Volunteering WA