Finances

Revenue & Expenditure

Volunteering WA achieved a healthy surplus of $431,234 for the 2020/21 financial year ensuring financial sustainability as the diversity and breadth of programs run by our growing organisation expanded.

Revenue increased by 24% compared to the previous financial year with a number of new funding streams commencing. This included government and corporate grants for services to support our members with assistance during the pandemic, volunteer recognition events and development of IT systems. In addition, there has been continued growth in the corporate volunteering program with several new partnerships commencing. Diversity of our income streams continues to reduce our reliance on government funding which represented 42% of total revenue for the 2020/21 financial year.

Expenditure increased in line with revenue by 22%, with $470,000 of outgoing grants to Western Australian volunteer involving organisations representing the majority of the overall increase. As Volunteering WA is a service based organisation the majority of expenditure relates to staffing which represented 62% of overall costs. Continued prudent management of administration and operating costs have kept these expenses within 9% of revenue.

Statement of Financial Position

The Statement of Financial Position is presented within the Financial Report (year ended 30 June 2021) here. Volunteering WA continues to be in a strong financial position with healthy cash reserves and manageable liabilities. In comparison to 2020 there has been an increase in cash and non-current assets as funds are invested into development of critical IT systems to support the sector.

The 2021/22 operating budget has a forecast surplus with a 24% 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 volunteeringwa.org.au/about/key-documents.

AUDIT GOVERNANCE

Volunteering WA engages Hall Chadwick as an external auditor to independently review its financial systems and reporting and to uphold the integrity of the reporting process.

NOT FOR PROFIT STATUS

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), Chief Financial Officer, Australian Strategic Materials
Justine Colyer, CEO, RISE
Pat Scally, IT and Business Executive
Belinda Salvoni, Place Manager, City of Bayswater
Karess Dias, Solicitor, State Solicitor’s Office
Andrea Cole, Executive Manager Finance and HR, Volunteering WA
Tina Williams, CEO, Volunteering WA