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Treasurer’s Report

I have pleasure in presenting the audited Balance Sheet and Income and Expenditure Statement for the Australian Institute of Biology for the year ended 30 June 1999. I would like to draw your attention to the notes attached to these statements and to the following:

Income

Subscriptions fell by $2675 this year, as membership fell by 71. There are a large number of unfinancial members, indicated in Note 2 to the Income and Expenditure Report. This is a matter of concern to your Executive.
Overall income rose by nearly $3000, due to $2075 being donated by organisations and individuals towards the Olympiad Bursary Fund, and to an interest payment being received too late to be included in the previous year’s accounts. In addition, this year’s accounts include income and expenditure on the annual Symposium, which last year was organised and accounted for by a sister organisation.

Expenditure

Expenditure includes $3000 given as bursaries to secondary students chosen to represent Australia in the Biology Olympiads. The AIB-itself donated $500 to the bursary fund, which currently is in deficit by $425.
Insurance expenditure rose considerably this year, as both Public Liability and Directors’ Liability policies were taken out, following changes to the law which made this desirable..
Production of the "Australian Biologist" continues to be the largest item of expenditure, costing over $12,000 this year. As a quality journalis the main benefit received by members, such expenditure is considered essential.
In all other areas, tight control on expenditure resulted in lower costs this yeat, so that the overall result was a pleasing surplus of $3248.

To the best of my knowledge the particulars presented in the audited Balance Sheet and Income and Expenditure Statement for the year ended 30 June 1999 provide a comprehensive summary of the financial affairs of the Australian Institute of Biology Inc.

Anne Levy

Balance sheet as at 30 June 1999

$

Accumulated funds 30/6/98 43,361.77

Plus surplus for year 3,248.28

Accumulated funds 30/6/99 46,610.05

1999
$ 1998
$

Represented by

Current assets

General account 18,309.07

Olympiad Account (425.00) 17,884.07 18,103.77

Investments

IOOF-Building Society 22,467.98 20,000.00

Other assets

Symposium Advance 1,000.00 -

Equipment 5,258.00 5,258.00

Total assets 46,610.05 43,361.77

Liabilities - -

Accumulated funds 46,610.05 43,361.77

Income and Expenditure 1998—99

Income

Copyright fees - 72.68

Interest received

General account 49.36 116.92

Investments 2,467.98 2,517.34 116.92

Members subscriptions (2) 18,495.00 21,170.00

Book sales 510.00 809.60

Symposium proceedings 1,575.50 50.00

Donations - 7.26

Olympiad Bursary 2,075.00 -

Miscellaneous 1.00 1.00

25,173.84 22,227.46

Expenditure

Advertising - 273.28

Administration–University of Adelaide 104.94 -

Bank charges 36.30 35.70

Merchant services charge 197.10 219.40

Insurance 822.80 273.40

Photocopying

Members reimbursement 42.25 303.60

other - 42.25 296.95 600.55

Postage

Members reimbursement 45.00 144.15

Australian Biologist 1,146.18 1,312.71

RGSQ 223.90 345.90

Symposia - 563.18

Newsletter 237.40 -

Other 269.05 1,921.53 468.20 2,834.14

Printing

General 104.46 810.34

Other(brochures/newsletters) 312.00 3,181.00

Aust. Biologist 9,154.00 9,570.46 10,094.50 14,085.84

Aust. Biologist (other) 1,838.00 2,749.89

Photocopying royalties - 7.26

Secretarial (RGSQ) 2,104.00 1,132.00

Stationery

Members reimbursement 50.27 42.04

General 353.60 403.87 - 42.04

Subscriptions

Catering etc. 600.00 -

Other expenses 270.00 870.00 - -

Telephone/fax (members reimbursement) - 237.93

Company fees 39.31 48.00

Membership expenses - 84.30

Sundry expenses - 18.27

Equipment costs - 103.60

Science Olympiad Bursaries 3,000.00 -

21,925.56 24,005.60

Surplus/Deficit for year 3,248.28 (1,778.14)

Notes

No provision for income tax has been raised, as the Institute operates solely as a non-profit association established for the encouragement of science.
As at 30/6/99 membership subscriptions were as follows:

Members 1999 1998

Financial

Honorary 4 4

Fellows 69 77

Members 274 329

Associate Members 18 21

Students 7 12

Total 372 443

Unfinancial

Fellows 23 779

Members 91 47

Associate Members 14 8

Students 8 3

Total 136 67

Auditor’s report to members of the Australian Institute of Biology Inc.

I report that I have examined the books, accounts and vouchers of the Australian Institute of Biology Incorporated in respect of the year ended 30 June 1999 and the accompanying Balance Sheet as at that date.

?In my opinion, the attached Balance Sheet and Income and Expenditure Accounts correctly state the financial affairs of the Institute according to the best of my knowledge, information and explanations received, and as shown by the books.

(signed) David Pang CPA
Brisbane
20 August 1999

Balance sheet as at 30 June 1999
					$
	Accumulated funds 30/6/98				43,361.77
	Plus surplus for year				3,248.28
	Accumulated funds 30/6/99				46,610.05
				1999 $		1998 $
Represented by
	Current assets
		General account	18,309.07
		Olympiad Account	(425.00)	17,884.07		18,103.77
	Investments
		IOOF-Building Society		22,467.98		20,000.00
	Other assets
		Symposium Advance		1,000.00		-
		Equipment		5,258.00		5,258.00
	Total assets			46,610.05		43,361.77
	Liabilities			-		-
	Accumulated funds			46,610.05		43,361.77

Income and Expenditure 1998—99
Income
	Copyright fees			-		72.68
	Interest received
		General account	49.36		116.92
		Investments	2,467.98	2,517.34		116.92
	Members subscriptions (2)			18,495.00		21,170.00
	Book sales			510.00		809.60
	Symposium proceedings			1,575.50		50.00
	Donations			-		7.26
	Olympiad Bursary			2,075.00		-
	Miscellaneous			1.00		1.00

				25,173.84		22,227.46


Expenditure
	Advertising			-		273.28
	Administration–University of Adelaide			104.94		-
	Bank charges			36.30		35.70
	Merchant services charge			197.10		219.40
	Insurance			822.80		273.40
	Photocopying
		Members reimbursement	42.25		303.60
		other	-	42.25	296.95	600.55
	Postage
		Members reimbursement	45.00		144.15
		Australian Biologist	1,146.18		1,312.71
		RGSQ	223.90		345.90
		Symposia	-		563.18
		Newsletter	237.40		-
		Other	269.05	1,921.53	468.20	2,834.14
	Printing
		General	104.46		810.34
		Other(brochures/newsletters)	312.00		3,181.00
		Aust. Biologist	9,154.00	9,570.46	10,094.50	14,085.84
	Aust. Biologist (other)			1,838.00		2,749.89
	Photocopying royalties			-		7.26
	Secretarial (RGSQ)			2,104.00		1,132.00
	Stationery
		Members reimbursement	50.27		42.04
		General	353.60	403.87	-	42.04
	Subscriptions
		Catering etc.	600.00		-
		Other expenses	270.00	870.00	-	-
	Telephone/fax (members reimbursement)			-		237.93
	Company fees			39.31		48.00
	Membership expenses			-		84.30
	Sundry expenses			-		18.27
	Equipment costs			-		103.60
	Science Olympiad Bursaries			3,000.00		-

				21,925.56		24,005.60


Surplus/Deficit for year				3,248.28		(1,778.14)

Members			1999	1998
	Financial
		Honorary	4	4
		Fellows	69	77
		Members	274	329
		Associate Members	18	21
		Students	7	12
		Total	372	443

	Unfinancial
		Fellows	23	779
		Members	91	47
		Associate Members	14	8
		Students	8	3
		Total	136	67