The SLSC Treasurer is responsible for the preparation of the annual financial report . As well as being a requirement of your constitution, these are required to be sent to SLSNSW and uploaded to the ACNC along with the Annual Information Statement (AIS).
Annual financial reports are formal documents, and required to be prepared according to Australian Accounting Standards. An annual financial report includes:
- a statement of profit or loss
- a statement of financial position (balance sheet)
- a statement of change in members funds
- a statement of cash flows
- notes to the financial statements
Notes to the financial statements include references to legislation, accounting policies, fundraising, and SLSC’s may also be required to provided additional information regarding related party transactions and key management personnel.
The ACNC provides annual financial report checklists, templates for declarations and auditor reports. SLSNSW also supports SLSC’s through reviews of annual financial reports, designed to assist Treasurers liaise with their accountants and auditors in the preparation of their reports.