{"id":49,"date":"2020-09-04T10:54:02","date_gmt":"2020-09-04T02:54:02","guid":{"rendered":"http:\/\/volunteeringwa.org.au.test\/?page_id=49"},"modified":"2020-10-12T13:29:01","modified_gmt":"2020-10-12T05:29:01","slug":"finances","status":"publish","type":"page","link":"http:\/\/volunteeringwa.org.au.test\/finances\/","title":{"rendered":"Finances"},"content":{"rendered":"
Volunteering WA achieved a strong surplus of $310,379 for the 2019\/20 financial year.\u00a0The 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\u00a0and government the potential financial impact has been contained.<\/p>\n
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.<\/p>\n
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.\u00a0Prudent management of administration and operating costs have resulted in an 18% reduction to less than 8% of revenue.<\/p>\n
The Statement of Financial Position can be found here<\/a>. 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.<\/p>\n