CYSTIC FIBROSIS VICTORIA ANNUAL REPORT

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					CYSTIC FIBROSIS VICTORIA ANNUAL REPORT


CFV
1 JAN – 31 Dec 2010




                                         0
ABOUT CYSTIC FIBROSIS

Cystic Fibrosis (CF) is the most common inherited           With every pregnancy of two carriers of Cystic
life shortening condition affecting young Australians       Fibrosis, there‟s a one in four chance of having a
today.                                                      child with CF. With every pregnancy of two carriers
                                                            of Cystic Fibrosis, there is a one in two chance of
It primarily affects the lungs and digestive system         having a child that will be a carrier of the CF gene.
because of a malfunction in the exocrine system,
responsible for producing saliva, sweat, tears and          Treatment of Cystic Fibrosis
mucus. There is currently no cure. People with
                                                            Management and treatment of CF is lifelong,
Cystic Fibrosis develop an abnormal amount of
                                                            ongoing and relentless. A person with CF may
excessively thick and sticky mucus within the lungs,
                                                            consume up to 40 capsules daily to help digest food
airways and the digestive system. The mucus
                                                            and need to do up to three hours of airway
causes impairment of the digestive functions of the
                                                            clearance each day. It is important for people with
pancreas and traps bacteria in the lungs resulting in
                                                            CF to visit a CF treatment centre several times each
recurrent infections which lead to irreversible
                                                            year so that their progress can be monitored.
damage. Lung failure is the major cause of death
for someone with CF.
                                                            Treatment generally involves:
From birth, a person with Cystic Fibrosis undergoes
                                                                -     Intensive daily physiotherapy to clear the
constant medical treatments and physiotherapy.
                                                                      lungs
Despite major advancements in the treatment of
                                                                -     Enzyme replacement capsules with food to
Cystic Fibrosis, only 50% currently reach their late
                                                                      aid digestion
thirties. Cystic Fibrosis is „autosomal recessive‟
                                                                -     Antibiotic therapy to treat lung infections
meaning that:
                                                                -     Aerosol mist inhalations via a nebuliser to
      -   It occurs equally in males and females                      help open the airways
      -   The CF gene must be inherited from both               -     Salt and vitamin supplements
          parents                                               -     A nutritious, high calorie, high salt, high fat
      -   It can „skip‟ generations                                   diet
                                                                -     Exercise – important to help clear the
In Australia, one in 2,500 babies are born with CF,                   airways and strengthen the lungs.
that‟s one every four days on average one in 25
people carry the CF gene (most of whom are
unaware they are carriers)



     “Cystic Fibrosis: It’s a matter of life and breath”

CONTENTS
2                      CFV Vision, Mission & Key Result Areas
3                      Chief Executive Officer‟s Report
4                      President‟s Report
4-5                    CF Nightingale‟s Report & Treasurer‟s Report
6                      Principal Officers
7-8                    Acknowledgement of Community Partners, Donors, Supporters, Trusts, Foundations &
9-10                   Volunteers
11                     Client Development, Advocacy & Member Services
12-13                  Learning, Research & Grants
14                     Appeals, Campaigns & Events
15-25                  Financial Statements (1 Jan 2010 - 31 December 2010)
26                     Statement by the State Council
27-28                  Audit report (1 Jan 2010 - 31 December 2010)
                                                                                                                   1
ORGANISATIONAL GOALS

CFV’S VISION
Lives unaffected by Cystic Fibrosis


CFV’S MISSION
To promote research, increase awareness of Cystic Fibrosis and provide education, support and advocacy for
Victoria‟s Cystic Fibrosis community.




KEY RESULT AREAS
Our Key Result Areas concern the support services
                                                           Public Awareness and Marketing
we offer children, adolescents and adults with
Cystic Fibrosis together with their families and           CFV will continue to seek the means to improve
carers.                                                    relations and communication with our members, the
                                                           wider CF community, allied health workers, medical
Programs and Services                                      and scientific professionals, government, donors,
                                                           supporters, volunteers and the general public.
CFV has over 900 members consisting of
individuals with CF, their families, friends and care
                                                           Information, Education and Advocacy
givers as well as people from the wider community.
                                                           CFV will deliver information and education services
The organisation will continue to provide a range of
                                                           to individuals with CF, their extended families,
support programs and services to clients that help
                                                           schools and the medical/allied health communities.
to enhance the quality of life and meet their needs.
                                                           CFV will also represent individuals and groups on
                                                           issues that require government or institutional
Research
                                                           action.
CFV will promote and, where appropriate, facilitate
research efforts in Victoria and Australia into            Fundraising
improved treatments and therapies for people with
CF. CFV will also raise funds to support the               CFV is committed to developing a platform to
Australian Cystic Fibrosis Research Trust.                 generate a regular stream of income to meet its
                                                           program delivery objectives, support CF research
National Unity and Collaboration                           initiatives and to develop a sustainable financial
                                                           structure that will meet the changing needs of the
Australian CF organisations are working towards a          CF community in the years ahead.
more collaborative approach, both strategically and
operationally. This informal network is referred to as     Governance and Transparency
the Australian Cystic Fibrosis Federation (ACFF).
                                                           CFV is committed to achieving balanced,
CFV is committed to participating in cooperative
                                                           transparent and proactive governance and the CFV
initiatives between the CF organisations across
                                                           staff team to deliver positive program outcomes
Australia.
                                                           through a highly productive workforce that is
                                                           measured by key performance indicators and other
                                                           competencies.




                                                                                                                2
CHIEF EXECUTIVE OFFICER’S REPORT

                                                            operating surpluses have been seriously declining
                                                            since the 2008 peak year. Three periods of decline
                                                            which have finally put us into the red. Of course,
                                                            there has been the GFC (global financial crisis) and
                                                            the bushfires and the floods and other natural
                                                            disasters around the world and at home.
                                                            Nevertheless, given our high dependence on
                                                            fundraising (which one way or another represents
                                                            80% of our income) we are not immune from these
                                                            and never will be until such time as we can secure a
                                                            more regular stream of income support.

                                                            We have improved our profile in the media both in
2010 has been an exceptionally challenging year for
                                                            metropolitan and rural and regional Victoria. This
Cystic Fibrosis Victoria and I owe a debt of gratitude
                                                            has led to an increase in public awareness of CF
to our Board and to our staff for their unwavering
                                                            and increased enquiries about carrier screening.
support and encouragement during very difficult and
                                                            Media coverage in the press and on radio has been
challenging times organisationally, professionally
                                                            notable. We have laid plans for the better use of
and personally. To my Board, my colleagues and,
                                                            social media from 2011 onwards and, this year,
most particularly, our General Manager, Ken
                                                            have invested in better information and
Fraser, I am pleased to record my sincere and
                                                            communication technology services in preparation.
heartfelt thanks.

                                                            There has also been a marked increase in third
We continue to direct more resources to fulfil our
                                                            party (ie community based) fundraising in support of
vision of “Lives unaffected by CF” and to keep
                                                            our work and I take this opportunity to thank all
general operational expenses as low as we can. In
                                                            those who raised funds for us on their own initiative
2010 we spent some $525,000 on direct CF
                                                            – your efforts made a substantial difference in a
community services (education, advocacy, client
                                                            challenging year. In particular, I would like to single
support, information services and the like) up from
                                                            out the Victorian Masonic Motorcycle Association
around $489,000 in 2009. That‟s a $36,000
                                                            who, for the second time, set out around Victoria on
increase in direct service costs year on year. Don‟t
                                                            their Breathless Ride and in the process raised over
forget, however, that in 2009 our expenditure in
                                                            $87,000. Well done and sincere thanks to all who
direct services leapt by $206,000 from the 2008
                                                            held fundraisers for us this year!
level! Direct services don‟t include the infrastructure
and overheads of running CFV, which are also
                                                            Whilst the financial prospects for 2011 are still not
essential to do our job.
                                                            good, strategically speaking (in terms of
                                                            relationships, brand recognition and reputation) we
Things for 2010 turned out not to be as bad as we
                                                            continue to grow from strength to strength.
had thought they might, given our operating loss
was $78,307 rather than the $90,000 we had been
anticipating. Nevertheless it is still not good when
compared to the $65,728 surplus for year 2009 or
the $36,410 surplus for the half year to end 2008 or
the $$229,097 surplus for the year 2008 or the
$160,355 surplus for the year 2007.

In fact this is the first full period financial loss that
has occurred whilst I have been at the helm and it is       Stephen Murby FRSA
of considerable concern to me. Sure, a one in five          Chief Executive Officer
operating loss is not such a bad financial
performance. The more worrying factor is that our




                                                                                                                    3
PRESIDENT’S REPORT

                              During the course of the     Haddon of Echuca, in which we were co-
                              year the Board of Cystic     beneficiaries with the Anti Cancer Council of
                              Fibrosis Victoria            Victoria.
                              attended to its
                              governance duties and        A number of new systems and services were put in
                              responsibilities with        place to better support the work of the organisation.
                              interest and enthusiasm.     The Board accepted a management
                              In addition to the routine   recommendation that our banking be migrated to
                              oversight of the             the Bendigo Bank Community Sector Banking for
                              operations and               2011.
                              development of The
Association a number of more significant initiatives       I would like to take this opportunity to thank my
were addressed – most notably the move to the              fellow Board members for their continued support
Social, Community, Home Care and Disability                and for their time, talent and enthusiasm which they
Industry Award (SCHDIA 2010) and the migration of          freely and generously contribute to advance the
all staff to new contracts in accordance with the          cause of Cystic Fibrosis Victoria.
Government mandated Modern Award system.
                                                           The Association continues to grow from strength to
The Board has engaged with and supported work              strength under the leadership of our CEO, Stephen
on forging closer working relationships and                Murby, and with the support of his excellent team of
resource sharing arrangements with the other CF            dedicated staff. I would also like to take this
organisations around Australia. Through this work          opportunity to acknowledge the invaluable work
we have begun to see the emergence of the                  carried out by so many volunteers, who work
Australian Cystic Fibrosis Federation as a loosely         tirelessly in support of our efforts to realise our
coupled network of autonomous organisations                shared vision of lives unaffected by cystic fibrosis.
working collaboratively to support all those living
with CF across Australia. CFV has taken a major
role in advancing the development of a new website
to serve the needs of all CF organisations
nationwide.

The Board acknowledges with gratitude a generous           Jennifer Loughman
bequest from the estate of the late Ronald Frederick       President




CF NIGHTINGALE’S REPORT

                             The CF Nightingales           the printing and to make the Christmas deadline.
                             have had another busy         Thanks too, to the Dieticians at the Royal Children‟s
                             year with our efforts in      Hospital for checking each recipe for those suitable
                             fundraising and public        for the CF diets. Finally thanks to all the contributors
                             awareness for those           from around the world for their favourite recipes and
                             living with Cystic            to Val Harrison for all the typing. We are happy to
                             Fibrosis and their            report that over 700 have already been sold around
                             families.                     Australia to friends, family and colleagues.

                              The sales of our second      In July we were very privileged to spend a
recipe book “250 Recipes of the Nightingales and           fascinating afternoon at the home of Patricia and
Friends”; have been very pleasing, but we still have       Chris Begg. We toured the house and the wonderful
plenty available. Like our first one, I am sure it will    collection, which is on display in every room.
become a collector‟s item, full of recipes for all         Patricia spoke about the history of the house and
tastes and abilities. We thank Julie Haines for the        her treasures. In addition Patricia generously
stunning front and back covers with photos of the          provided a delicious afternoon tea.
Nightingales. Special thanks to Kevin Mack and his         Two years ago we had a tour of the backstage and
team at Documents on Call for their help with              costumes at the Australian Ballet. It was such a
                                                                                                                 4
popular event we repeated it this year in July. The      Also in October we had a wet and windy day at
tour commenced at 10.30am and was followed by a          Great Strides. With the Halloween theme, we had
light lunch at the Vic Cafe at the Arts Centre. It was   special homemade cup cakes, Halloween lucky dip,
a delight to see the young dancers at the bar and all    frog lollies and fabulous raffle prizes.
the amazing costumes worn for all the beautiful
ballets.                                                 Next year we plan a Dinner Dance at the RACV
                                                         Club on June 18. More details will follow.
Liz Davenport put on a stunning fashion parade at        As always we thank our friends and families for their
the Ivanhoe Centre in October. The music and             continued support; I extend my thanks to all the
fashions kept everyone‟s interest. The lovely Art        Nightingales for all their dedication to our efforts.
Deco room was a perfect setting for a successful
luncheon and parade. Vanessa Scott was our guest
speaker. She explained the benefits of lung
transplant for those with Cystic Fibrosis. A cheque
for $5000 was presented to Jennifer Loughman;
                                                         Jenifer Jones
President CFV to assist families with physiotherapy
                                                         President CF Nightingales
needs.




TREASURER’S REPORT

                             Members will note that      forward in the previous year – which reflects a high
                             this Annual Report          level of productivity within the operations of the
                             covers the accounting       association.
                             period 1 January 2010 to
                             31 December 2010, our       During the period it should be noted that fundraising
                             financial year now well     was down on the gains made in the previous year
                             established as the          and that Government funding essentially remained
                             calendar year.              unchanged other than for some CPI consideration.
                             The accounts for the        Donations, grants and sponsorships made a
                             calendar year period        considerable improvement over 2009 reflecting
show an operating loss of $78,307. This is the first     mainly increased financial confidence post GFC. Of
operating loss we have incurred in the last five         particular note is the significant growth in third party
financial reporting periods and the first since the 1    fundraising and over $80,000 raised by the
July 2005 to 30 June 2006 period.                        Victorian Masonic Motorcycle Association through
Members should note that a good portion of the           their 2010 Breathless Ride.
operating loss is attributable to the extraordinary
need to refund State Government $110,000 which           I commend the financial statements for the period 1
had been received in prepayment in November              January 2010 to 31 December 2010 to you.
2009 (see Note 3(a) and the higher reported
Government Funding for 2009 in Note 2).
Whilst the level of revenue for 2010 are similar to
those reported for 2009, members should note that
at the end of the year we had some $94,575 in
cumulative grant money liabilities that we are
carrying forward to be expended in 2011 and 2012.
                                                         William Yeadon
This carry forward figure is a considerable
                                                         Treasurer
improvement on the $300,289 that was carried




                                                                                                               5
PRINCIPAL OFFICERS

Board Members in 2010                                  Patrons

President                                              Patron in Chief
Mrs Jennifer Loughman RN
Registered Nurse; member of CFV for over 24
years                                                  Patrons
                                                       Mr Walter Riddell, AM
Vice President                                         Prof Susan Sawyer, MDHS
Mr Anthony Bettanin BSc, LLB                           Mr Denis Walter
Director, Partner Management – Oracle                  Prof Bob Williamson, AO
Father of a child with CF
                                                       Honorary Ambassadors
Hon Secretary
Mr Marcus Mandie                                       Jane Edmanson, Community Ambassador (Roses)
Chief Executive Officer, Australia-Israel Chamber of   Daryl Corletto, Sports Ambassador (Basketball)
Commerce (Vic)                                         Julie Prendergast, Sports Ambassador (Netball)

Hon Treasurer                                          Life Members
Mr William Yeadon BSc, MBM
Company Director                                       Mrs Christine Doran OAM
                                                       Mrs Claire Power
Prof Bob Williamson AO FRS FAA                         Mr John Power
Former Director Murdoch Children‟s Research            Mrs Jennifer Loughman
Institute; Australian Cystic Fibrosis Research Trust   Mrs Jenifer Jones
Trustee; Cystic Fibrosis Australia board member        Mrs Carmel Riddell
                                                       Mr Walter Riddell
Mr Steven Peuschall
                                                       Mr Tom Dobson
CEO, Action for Community Living
                                                       Ms Jana Purcell
                                                       Mr Robert Simonsen
Chief Executive Officer
                                                       Mrs Sarah Hudson
                                                       Mr Gary Hudson
Stephen Murby B Sc (Hons), G. Dip. Ed, FRSA,
Chair, Chronic Illness Alliance; Acting Chair &
Treasurer, Consumers Health Forum; Chair,
Academic Board, Carrick Higher Education




                                                                                                    6
COMMUNITY PARTNERS, DONORS, SUPPORTERS,
TRUSTS & FOUNDATIONS

CFV would like to thank all of the individuals, families and organisations that supported our cause during 2010.

Mr & Mrs Wayne & Kathy                   Mrs Margaret McMurray                    Friends of Stephanie & Lucy
Armour                                   Mr & Mrs Michael & Marie                 Ludlow
Mr & Mrs Ray & Nicole                    Morton FRSA                              Goornong Primary School
Brogden                                  Mr Ernest Poppins                        Joliman Lawyers
Ms Melissa Carmichael                    Mrs Barbara Rathbone                     Keysborough Eagles Social
Mrs Joan Chappell                        Mr Graham Reeve                          Golf Club
Ms Claire Charenton                      Mr & Mrs Robert & Christine              Koonung Heights Cricket Club
Mr Ashley Clifford                       Richardson                               Littlewood Charities Club Inc
Mr & Mrs Mick & Dianne                   Mr Tom Valenta                           Magistrates' Court of Victoria
Coleman                                  Claire Whitfield                         Medicare Australia
Mr & Mrs Greg & Kaye Davis               Mr Lachlan Williams                      Mornington Community Info &
Mr & Mrs Joe and Gloria                  Prof Bob Williamson OA                   Support Cntr
Dickerson                                Mr Stephen Murby Wright                  National Australia Bank
Mr Kevin Diver                           Amcor Fibre Packaging                    Piovillico Flowers
Mrs Christine Doran OAM                  Border Cystic Fibrosis Inc               Qantas Staff Credit Union
Miss Julia Ann Farrell                   'Bradley's Market Stall'                 Limited
Mr Graeme Hibberd                        Braywin (Vic) Pty Ltd                    Quota International of
Mr & Mrs Craig & Sophie Hill             Bundoora Bakery & Take-away              Essendon Inc
Ms Kristy Hunt                           Camcare Auxiliary                        R A Slater Engineering Pty Ltd
Ms Jenny Jones                           Carpet Call                              Rich River Golf Club Resort
Mr & Ms Paul & Tania Rowley              Construction Engineering                 Ritchies IGA
& Karlovic                               East Malvern Community Bank              Simcor (Qld) Pty Ltd
Mr Paul Keen                             Branch of Bendigo Bank                   Strathaird Primary School
Ms Ashley Keller                         Equity Trustees Limited                  Sunbury College
Mr & Mrs Jim & Stavroula                 Everyday Hero                            The Rotary Club of Albert Park
Kyriakoulis                              Evolution Business Systems               Inc
Mrs Esther Lauretti                      Freemasons Victoria Board of             Victorian Masonic Motorcycle
Mr James Lewis                           Benevolence                              Association Inc.
Elizabeth McIlwaine                                                               Warragul Views Motor Inn



Trusts and Foundations

Exceptional support during 2010 enabled CFV to continue its provision of support services to all members
throughout Victoria. CFV would therefore like to thank the following Trusts and Foundations for their grant
support:

The Danks Trust                          Isabell and John Gilbertson              Optus Connecting
ANZ Staff Fund                           Charity Trust                            Communities
CAF Community Fund                       Ivor Ronald Evans Foundation             Pierce Armstrong Foundation
CMV Charitable Fund                      Joe White Bequest                        Simon Rhodes Foundation
Collier Charitable Fund                  Jonathan Martin Bequest                  Sunshine Foundation
Commonwealth Bank Staff                  Lord Mayor‟s Charitable                  Telematics Trust
Fund                                     Foundation                               Telstra Kids Fund
Flora and Frank Leith                    Lord Mayor‟s Charitable                  The Flora & Frank Leith
Charitable Trust                         Foundation, „20 days of giving‟          Charitable Trust
GW Vowell Foundation Ltd                 Maddocks Foundation                      The William Angliss (Victoria)
Helen MacPherson Smith Trust             Myer Foundation                          Charitable Fund




                                                                                                                   7
VOLUNTEERS

The energy and enthusiasm of our volunteers at CFV is remarkable. Our volunteers not only help support us in
supporting the CF community, but they serve as the key factor which can make or break an event. For this, all of
us at CFV would like to give a big thank you to all our volunteers!

Administration                     Kathleen McClare           Nichola Clarke             Heather Tebble
Bob & Aileen Dynes                 Nicole Mogridge            Nicole Mogridge            Helen Smallwood
Dean Vardy                         Reva Blowfeld              Reva & Tim Blowfield       Jessica McDonald
Jane Rikard-Bell                   Russell Carr                                          Jodie Versteegen
Lucy Gowlett                                                  Spring Concert             Lisa Hocking
Margaret Collins                   Great Strides              19 September 2010          Ng Yeat Teng
Joanna Schwarz                     31 October 2010            Annemari Grass             Rachel Miller
Jenny Mayes                        Melbourne                  Brendan Heath              Sarah Aloe
Kyle Ho                            Rujjiraporn                Debbie Alford              Sarah O'Farrell
Margaret Duggan                    Ekpunyaskul (Chong)        Dinky Berlin               Stephen Baumgartner
Sam Lee                            Belinda McLeod             Eliana Katsavos            Wissam Elsheikh,
                                   Bev Forde                  King Nixayathira           Jared, 'Bob' & Sahar
Summer Race Day                    Chin Wei Kwong             Kristy Tillman
Bryan Bui                          Clarissa Smith             Lauren Kaso                MIFGS
Chin Wei Kwong                     Greg & Liz Teese           Marijo Vladic              24-28 March 2010
Donna Newman                       Hui Zheng Lim              Nikki Gelfand              Alice Cooper
Hui Zheng Lim                      Jane Meeuwissen            Phil Lawrence              Davis Kushlani
James Nguyen                       Joanna Schwarz             Zoe White                  Dean Vardy
Jason & Tessa Roberston            Judith Lake                                           Emily Marshall
Lauren Adams                       Julie & Tom Mathieson      Biennial Conference        Greg Collins
Marie Cardamone                    Kira Jantzen               14 August 2010             Heather Tebble
Sarah Hollow                       Margaret Duggan            Adam Sydney                Jenny Jones
Su Xin Lau                         Phil Lawrence              Cindy Tan                  Jenny Schofield
Xiuxian Pham                       Reva & Tim Blofeld         Leah Savidis               Lai Har Boey
                                   Ryan Dean                  Nagma Datt                 Lisa Benning
Christmas Cards Stores -           Sasha Ponniah                                         Manuela Renzi
various dates                      Sharnarra Crawley          Dinner Dance - June        Mary King
Irene McKenzie                     Tania & Adrian Tkatyck     26th 2010                  Moke Tamurua
Ann McNaughton                     Troy Mitchell              Beverley Cardwell          Nancy Ranellone
Caroline Fraser                                               Chandeesha De Silva        Shafali Singhal
Cynthia Page                       Bendigo                    Cindy Tan                  Sian Rangi
Joan Dance                         Angela Schofield           Deborah Kelly              Val Harrison
                                   Cled Davies                Elizabeth White
                                   Jackie Belnaves            Murray Mabbot              Special thanks
                                   Jenny Mayes                Phil Lawrence              Anthony Holt
                                   Karen Hun                  Simone Banik               Kristy Hunt
                                   Karim Kodhja                                          Michael Johnston
                                   Matthew Kropman            65 Roses Day               Stephen Dance
                                   Michael Bateson            28 May 2010                Tom Valenta
                                   Penny Davies               Aloema Higgs
                                   Rachel Kropman             Anna Robinson              Thanks to any friends or
                                   Ray McGregor               Belinda Scougall           families who have
                                   Tim Dickson                Bronwyn Wilcox             contributed their time
                                   Travis Holmes              Carmel Martin              and effort in the past,
                                                              Christine Wong             and to RMIT and
                                   Pregnancy, Baby &          Claire Charenton           Swinburne University
                                   Children's Expo            Corey Osmond               for providing much
                                   22-24 October 2010         Deb Gilbert                knowledge support to
                                   Cynthia Page               Di Osmond                  CFV through their
                                                                                         teachers and students.


                                                                                                                8
CLIENT DEVELOPMENT, ADVOCACY & MEMBER SERVICES

                                                          support within their local community. Providing a
                                                          forum where people feel comfortable to share
                                                          stories, experiences and resources.

                                                          “Newly diagnosed” dinners - these informal dinners
                                                          provide an opportunity for families who have had a
                                                          recent diagnosis of cystic fibrosis to be introduced
                                                          to the services we offer at CFV as well as meet
                                                          other families who are going through a similar
                                                          journey. It is hoped that these dinners also facilitate
                                                          the development of networks and provide
                                                          information, support and counselling. Newly
                                                          diagnosed kits are also provided to all newly
                                                          diagnosed families.


Having a diagnosis of Cystic Fibrosis doesn‟t only        “Grandparent’s afternoon teas” are a networking
affect the life of the individual; it affects the whole   forum for Grandparents to meet others who are in a
family, friends, co-workers and loved ones.               similar situation and provide opportunities for
Therefore it takes the whole community to care for        sharing of experiences, extending their knowledge
CF.                                                       about CF which will enable them to support their
                                                          family member who has CF.
Provision of support services in the form of
counselling, advocacy, support, financial assistance      The “Annual Memorial Service” was again held at
and information services are provided to the CF           Christ Church in South Yarra. This beautiful service
community Victoria wide. The CDAMS Team: Ms               provided an opportunity for the CF community to
Emma Gibson, Ms Monica Lay, Ms Judith Lake, Ms            remember and celebrate the lives of loved ones lost
Sam Durrant & Mr Wood Fitzpatrick work closely            to CF. We are grateful to the ongoing support of
together to ensure that all services are provided         Tobin Brothers for this event.
professionally and confidentially to all CFV
members. The CDAMS team also work tirelessly to           A “Pregnancy, Babies & Children’s Expo” was held
ensure we are up to date with all medical, emotional      at the Melbourne Exhibition Centre. The CDAMS
and social awareness needs of all our members to          team in conjunction with Genetic Health had an
ensure we are capable of assisting those living with      exhibitors stand at the expo with the purpose of
CF to improve their quality of life.                      increasing awareness about the Cystic Fibrosis
                                                          Carrier Screening Programme. We were also able
Cystic Fibrosis is a complex, highly specialised          to increase awareness about the services we offer
congenital disease that can result in many varied         at CFV. The CDAMS team and some volunteers
levels of psychological affect (ie: anxiety,              were also able to sell some merchandise for CFV
depression etc.) By providing a wide range of             as well as reach other health professionals who
community based services to the CF community, it          were keen to be on our mailing list for 65 Roses.
is hoped that the CF community feel supported
emotionally through their CF journey.                     Practical Support and Financial Assistance

Support Dinners & Events                                  Many thanks for the financial support of numerous
                                                          Trusts, Foundations, Companies and individual
CFV offers a range of support events which offers         donors. This financial support enables CFV to
support to the whole family. There are support            provide practical and financial support to CFV
dinners hosted in multiple regional locations in          members in many ways:
Victoria (ie: Albury, Traralgon, Warrnambool and
Mildura etc.) as well as Northern, Western,               Physiotherapy Equipment: can be provided for
Southern & Eastern metropolitan locations as well.        children, adolescents and adults who have CF.
These dinners provide an opportunity for families         CFV view physiotherapy equipment as essential
members to meet others who are or have been in a          items not a luxury, they are vital for every day life
similar situation. These dinners are designed to          and therefore contribute financially towards the
build relationships that are hoped to optimise

                                                                                                                  9
purchase of this equipment & arrange for the order       well as during lengthy admissions or sudden
and delivery.                                            changes of health. CFV will also provide hampers
                                                         and food vouchers for families and individuals who
20% Reimbursement: CFV is aware of the financial         are under financial difficulty.
burden on families living with CF. This programme
entitles individuals or families to claim and be         TV Hire: CFV provides free TV hire to all people
reimbursed for any approved direct CF related cost.      who have CF and are members of CFV while they
                                                         are in hospital. It is hoped that the TV aides to
Fitness Participation: CFV are very aware of the         prevent boredom during often lengthy admission.
importance of maintaining a high level of fitness for
both physical and mental wellbeing. The cost of          Andrew’s Legacy: it was Andrew Carr‟s dying wish
gym memberships, swimming lessons etc. can be a          that he contributed financially towards respite for
financial burden, therefore CFV recognise the            adults with CF. CFV members can apply for
importance of contributing financially towards these     financial assistance for airfares, accommodation;
sporting activities.                                     meals, etc. to help people with CF can take a break.

Accommodation Assistance: this programme                 Transplant Programme: CFV offer a lump sum of
continues to be utilised by our members from rural       $1000 to assist those who have received a lung
and regional areas. The service is provided to help      transplant. It is hoped that this financial support will
families and loved ones support their CF sufferer        assist to pay for accommodation and travel costs
attend clinic appointments and/or hospital stays. It     incurred.
is hoped that this programme helps rural and
regional families have increased access to               Advocacy
Melbourne Hospital services.
                                                         CFV continues to supply advocacy services for our
Scholarship Programme: offers support to adults          members albeit individuals and/or membership
living with CF by assisting them financially to attend   collectively, by advocating with service providers,
and further educate themselves by doing short            government departments, hospital and medical
course and other educational opportunities. This         professionals and other authorities. We also work
service hopefully will assist people with CF to gain     indirectly through the work of intermediary groups
meaningful employment within a field of their            such as:
choice.
                                                                 Chronic Illness Alliance: with Stephen
VitABDECK & Salt Tablets: CFV is able to provide                  Murby being Chairman of the Board during
both the VitABDECK & Salt tablets at cost price to                this reporting period.
its members this ensures that people with CF can
receive access to all necessary medications. The                 Genetic Support Network: is an umbrella
tablets can be ordered either over the phone, and                 organisation that aims to facilitate an
sent out in the mail, or collected from our office in             information support and advocacy network
person.                                                           that empowers people to identify and/or
                                                                  overcome genetic challenges.
Loan Pumps: CFV has a range of nebuliser pumps
available to CFV members for short term usage.                   Consumers Health Forum: with our CEO
Members utilise this service when their own pumps                 Stephen Murby being Chairman of the
are being serviced, if they don‟t yet own one,                    Board. This organisation represents the
awaiting arrival of new equipment or if they are                  interests of Australian healthcare
going on holidays.                                                consumers.
Emergency Financial Assistance: this financial
assistance can be accessed at times of crisis as




                                                                                                              10
LEARNING, RESEARCH & GRANTS

Education and information sharing are central to        number of medical and allied health professionals
better wellbeing and longevity outcomes for those       also participated and contributed to the lively
living with CF.                                         learning. Thanks to NAB portions of the conference
                                                        were successfully webcast – heralding a new age of
CFV members have benefited from a range of              conference attendance possibilities for all adults
opportunities to be informed on progress in             living with CF.
research and treatments as well as current thinking
on living with CF. The quarterly publication 65         Coaching Project
Roses is central to sharing this knowledge and          CFV implemented a Coaching Project in 2009/10
builds on the bedrock of information contained in       which aimed to increase the adherence to post-
the CFV Handbook that was revised and                   hospitalisation regimen for emerging adults (18-25
republished in 2008. In addition to education           years) living with CF in rural, regional and
seminars, CFV has continued to provide a                metropolitan contexts through coaching, support
comprehensive resource library and web-based            and guidance offered by “health coaches”.
chat room facility.
                                                        In early June 2010, the CFV Coaching Project came
Increasing public awareness and understanding of        to the end of Stage 2, also known as the Proof of
CF is a further important function of CFV.              Process (PoP) stage of the project. The PoP stage
Community awareness and information sessions            of the project provided the opportunity to put all of
were held across Victoria supported by regular          the research and planning of stage 1 into practice.
advertising in regional media.                          The idea being that as we move into stage 3, the
                                                        randomised control trial, we will be able to provide
CFV is grateful to have received grants from trusts     an effective coaching service based on experience.
and foundations that enable the provision of these
and more services. Research has also benefited          The PoP lasted for eight weeks, with participants
from funding. Funding has been received for a           attending one coaching session per week. Short
major project to look at coaching in support of         interviews were conducted in the middle and at the
regimen adherence. This project was implemented         end of the coaching program with feedback from
in 2009 and continues into 2011.                        participants being overwhelmingly positive. Stage 3
                                                        of the project commenced in November 2010.
Research & Development
CFV has supported research into CF related              Mapping Project
treatments by contributing $10,000 to the Australian    CFV has been involved with the Department of
Cystic Fibrosis Research Trust (ACFRT) for the          Health in a mapping project to review the health
financial period covered by this report.                care and access to services needs for people living
                                                        with Cystic Fibrosis, particularly adults, who are
2010 Biennial Conference                                resident in regional/rural Victoria. The aim of the
This year‟s conference “Empowerment: The XYZ of         project was to identify best practice models of care,
                        st
CF & U” held at the 21 Century NAB Academy in           opportunities for improvement, including service
Docklands, looked at the generational issues            provision, and development of improved and/or
confronting people living with CF. Participants were    sustainable model of care options.
given the opportunity to hear a series of outstanding
presentations and panel sessions, to attend             The results showed there is overwhelming support
workshops and to learn more about current CF            for the use of remote medicine and
research and the therapies that hold most promise.      videoconferencing between CF Specialist Centres
                                                        and rural/regional services. Over 90% of
Eminent medical scientists and physicians who           respondents supported both the use of
addressed the conference included Professor Bob         videoconferencing with metropolitan specialist
Williamson, Professor Susan Sawyer, Associate           centres and the use of a micro-chipped medical
Professor Phil Robinson and Dr Faten Zaibak. A          record card.




                                                                                                           11
APPEALS, CAMPAIGNS & EVENTS




The development and expansion of programs and          2010 has seen a definite increase in the use and
services to better support people living with cystic   development of social media sites – such as
fibrosis is a key priority and we greatly value our    Facebook, Twitter, and UTube - to promote our
service delivery contracts with the Department of      services as well as updating our website with
Human Services which amounts to 20% of our             current information while the new ACF website is
income. A further 25% comes from philanthropic         being developed. We continue to endorse Everyday
trusts and foundations in the form of grants and       Hero as one of the main online fundraising tools
about 1% of our income is from membership. The         used very successfully by our supporters – in
remaining 54% of our income comes from                 particular during Great Strides, Crazy Hair Day and
fundraising activities, including general donations,   Bangers and Cash.
appeals, merchandising campaigns and fundraising
events, including third-party fundraising. Through     CFV is proud to maintain a Community partnership
the generosity of the general community, grants        with the National Bank of Australia, which came
from philanthropic trusts and foundations, and         about as part of our ongoing commitment to
money raised from our fundraising appeals,             developing corporate community partnerships. NAB
campaigns and events, we continue to make              has been involved in many aspects of our
progress in this area.                                 organisation so far, including volunteering and
                                                       promotion. Once more we were lucky enough to be
We have seen growth in all areas of our revenue        one of the only charities to have a presence at the
raising. We remain committed to improving the          Melbourne International Flower and Garden Show
marketing, brand awareness and promotion of            in conjunction with Jane Edmanson and Rankins.
Cystic Fibrosis Victoria, as well as continued
awareness-raising of CF. An important aspect of        We have continued to increase our community
this journey is building a stronger and more           awareness in rural and regional Victoria using a
consistent brand image while re-developing our         variety of media (including print, radio and TV) and
marketing materials to reflect a more dynamic,         public information meetings and displays at expos.
proactive and positive role as a community services    The 65 Roses magazine and our e-newsletters help
organisation. Enlisting the services of a graphic      promote our events to a larger community and
designer to develop these marketing materials for      strategically increases our direct contact with an
events, appeals and campaigns has ensured a            ever giving general public.
consistent and professional image to take us into
2011.


                                                                                                        12
Our third party fundraising resources, support and       Caulfield racecourse was a fabulous day for guests
activities throughout Victoria continues to improve      and CFV alike with more corporate sponsors than
and develop thanks to the support of the Victorian       ever before.
people. As always we are ever grateful to the many
individuals, companies and community groups that         65 Roses Day had an added component to it this
fundraise on our behalf and organise third party         year when CFV and Wafex, a leading wholesaler
events involving their local communities. It is clear    and importer/exporter of fresh and dried flowers,
that there is a great determination and ingenuity        launched 65 Roses Day as a major promotional day
within the community with new fundraising ideas –        to generate funds and awareness of CF, whilst
from Bastille Day dinner to „Christmas Light-up          increasing and expanding flower sales for the
night‟ – being organised. We would like to take this     Victorian flower industry. This was a pilot campaign
opportunity to thank all those who contribute to         held mainly in Victoria with a view to going national
CFV‟s appeals, merchandising campaigns, events           in 2011. The concept was developed in
and activities throughout the year. At the core of all   collaboration with NAB graduates, CFV and Wafex
these is the generous spirit of volunteering and we      and involved $1 per bunch of CF branded roses
have been truly blessed with fantastic and loyal         being given to CFV, with proceeds being collected
volunteers, who go out of their way to help – even if    at grower level. Planning is underway to ensure 65
it means a 6am start!                                    Roses Day 2011 realises an even greater response
                                                         from the flower industry with key players being
A key goal in the area of major fundraising and          involved in the process.
community awareness events is to grow revenue
and participation. Annual campaigns and events,          The next twelve months will see CFV broaden our
including Bangers and Cash, Crazy Hair Day, and          fundraising horizons and become more present and
Great Strides, although smaller than last year, still    active in all forms of social media. We look to more
gathered loyal support and enjoyment by those            actively engaging with government, donors,
involved. Processes put in place this year means         industry, corporations and the philanthropic sectors
that 2011 looks set to be a good year for campaigns      to further build or develop ongoing support for CF in
and events. The third Summer Race Day at                 the community.




                                                                                                           13
CYSTIC FIBROSIS VICTORIA INC
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2010

                                                        Notes       31 DEC             31 DEC
                                                                      2010               2009
                                                                        $                  $

Revenue                                                   2       1,075,588          1,080,016

Events and Merchandising                                          (187,964)          (262,182)

Education, R&D, Advocacy                                          (104,784)          (131,221)

Client Support, Development and Services                          (346,128)          (288,870)

Community Communications, Detection
and Awareness                                                       (73,647)           (68,646)

General Operations                                        3       (441,372)          (263,369)
                                                                   ---------------    ---------------
Profit/(Loss) for the period                                        (78,307)            65,728

Other Comprehensive Income

 Nil                                                                             -                  -
                                                                   ---------------    ---------------

Total Comprehensive Income for the Year                             (78,307)           65,728
                                                                   ========           ========




The accompanying notes form part of these financial statements.




                                                                                                 14
CYSTIC FIBROSIS VICTORIA INC
STATEMENT OF FINANCIAL POSITION
FOR THE YEAR ENDED 31 DECEMBER 2010

                                                        Notes         31 DEC                31 DEC
                                                                         2010                  2009
                                                                           $                     $
CURRENT ASSETS

Cash Assets                                               4           624,830               727,774
Trade and Other Receivables                               5             50,380                16,147
Inventories                                               6             31,003                28,845
Other                                                     7                1,556                 9,164
                                                                   ------------------    ------------------
TOTAL CURRENT ASSETS                                                  707,769               781,930
                                                                   ------------------    ------------------

NON-CURRENT ASSETS

Other Financial Assets                                    8           100,000               100,000
Property, Plant and Equipment                             9       1,434,514             1,440,929
                                                                   ------------------    ------------------
TOTAL NON-CURRENT ASSETS                                          1,534,514             1,540,929
                                                                   ------------------    ------------------
TOTAL ASSETS                                                      2,242,283             2,322,859
                                                                  ==========            ==========

CURRENT LIABILITIES

Trade and Other Payables                                  10            53,090                57,850
Provisions                                                11            28,153                25,662
                                                                   ------------------    ------------------
TOTAL CURRENT LIABILITIES                                               81,243                83,512
                                                                   ------------------    ------------------
TOTAL LIABILITIES                                                       81,243                83,512
                                                                   ------------------    ------------------
NET ASSETS                                                        2,161,040             2,239,347
                                                                  ==========            ==========

MEMBERS FUNDS

Retained Profits                                                  1,014,486             1,084,490
Reserves                                                  12      1,146,554             1,154,857
                                                                   ------------------    ------------------
TOTAL MEMBERS FUNDS                                               2,161,040             2,239,347
                                                                  ==========            ==========




The accompanying notes form part of these financial statements.

                                                                                                       15
CYSTIC FIBROSIS VICTORIA INC
STATEMENT OF CHANGES IN MEMBERS FUNDS
FOR THE YEAR ENDED 31 DECEMBER 2010




                                      Memorial          Asset       Retained       Total
                                        Funds      Revaluation        Profits   Members
                                     Donations        Reserve                     Funds
                                       Reserve

                                              $                 $          $             $

Balance 1 January 2009                    8,303      1,146,554      1,018,762   2,173,619

Profit/(loss) for the period                   -                -     65,728      65,728

Balance at 31 December 2009               8,303      1,146,554      1,084,490   2,239,347

Profit/(loss) for the period                                         (78,307)    (78,307)

Transfer                                 (8,303)                -      8,303             -

Balance at 31 December 2010                    -     1,146,554      1,014,486   2,161,040




The accompanying notes form part of the financial statements.


                                                                                    16
CYSTIC FIBROSIS VICTORIA INC
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2010

                                                        Notes       31 DEC                 31 DEC
                                                                       2010                  2009
                                                                         $                     $

CASH FLOWS FROM OPERATING ACTIVITIES

Donations, member and fundraising receipts                        1,030,409            1,088,095
Interest received                                                      10,946                 6,836
Operating payments                                               (1,129,044)            (954,798)
                                                                  ------------------   ------------------
NET CASH PROVIDED BY/(USED IN) OPERATING
ACTIVITIES                                               13(b)        (87,689)             140,133
                                                                  ------------------    ------------------
CASH FLOWS FROM INVESTING ACTIVITIES

Payment for property, plant and equipment                             (15,255)                (3,696)
                                                                  ------------------    ------------------
NET CASH PROVIDED BY/(USED IN) INVESTING
ACTIVITIES                                                            (15,255)                (3,696)
                                                                  ------------------    ------------------

NET INCREASE/(DECREASE) IN CASH HELD                                (102,944)             136,437

CASH AT THE BEGINNING OF THE FINANCIAL YEAR                          727,774               591,337
                                                                  ------------------    ------------------
CASH AT THE END OF THE FINANCIAL YEAR                    13(a)       624,830               727,774
                                                                 ==========            ==========




The accompanying notes form part of the financial statements.

                                                                                                     17
CYSTIC FIBROSIS VICTORIA INC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2010


  1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

    This financial report is a special purpose financial report prepared in order to satisfy
    the financial reporting requirements of the Associations Incorporation Act 1981
    (Victoria). The committee has determined that the association is not a reporting entity.

    The financial report has been prepared on an accruals basis and is based on historical
    costs and does not take into account changing money values, or except where stated,
    current values of non current assets.

    The following is a summary of the material accounting policies adopted by the
    association in the preparation of the financial report. The accounting polices have
    been consistently applied unless otherwise stated.

    (a)   Income Tax

          The Association is exempt from income tax by virtue of section 50-45 of the
          Income Tax Assessment Act 1997.

    (b)   Inventories

          Inventories are measured at the lower of cost and net realisable value. Costs
          are assigned on a first-in first-out basis.

    (c)   Property

          Freehold land and buildings are measured on the fair value basis, being the
          amount for which an asset could be exchanged between knowledgeable willing
          parties in an arm’s length transaction. It is the policy of the Association to have
          an independent valuation on a regular basis with annual appraisals being made
          by the state council.

    (d)   Depreciation

          The depreciable amount of all fixed assets including buildings but excluding
          freehold land, are depreciated on a straight line basis or diminishing value basis
          over their estimated useful lives to the Association, commencing from the time
          the asset is held ready for use. Items with an individual cost of less than $500
          are expensed in the year of purchase.

          The depreciation rates used for each class of depreciable assets are:

          Class of Fixed Asset                                            Depreciation Rate
          Office Furniture and Equipment                                       13.0% - 40.0%
          Holiday Cabins                                                        5.0% - 20.0%
          Motor Vehicles                                                         23.0%
          Buildings                                                               2.5%
          Fixtures and Fittings                                                  20.0%
          Computer Software                                                      33.0%


                                                                                            18
CYSTIC FIBROSIS VICTORIA INC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2010


1.     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont’d)

     (e)      Employee Benefits

           Provision is made for the Association’s liability for employee entitlements arising
           from services rendered by employees to balance date. Employee entitlements
           expected to be settled within one year together with entitlements arising from
           wages and salaries, annual leave and sick leave which will be settled after one
           year, have been measured at their nominal amount.
           Contributions are made by the Association to an employee superannuation fund
           and are charged as expenses when incurred.

     (f)      Goods and Services Tax (GST)

           Revenues, expenses and assets are recognised net of the amount of GST,
           except where the amount of GST incurred is not recoverable from the Australian
           Taxation Office. In these circumstances the GST is recognised as part of the
           cost of acquisition of the asset or as part of an item of expense. Receivables
           and payables in the Balance Sheet are shown inclusive of GST.

           Cash flows are presented in the Cash Flow Statement on a gross basis except
           for the GST component of investing and financing activities, which are disclosed
           as operating cash flows.

     (g)      Trade and Other Payables

           Trade payables and other account payables are recognised when the
           association becomes obliged to make future payments resulting from the
           purchase of goods or services.

     (h)      Revenue

           Revenue for the sale of goods is recognised upon the delivery of the goods to
           customers.

           Interest revenue is recognised on a proportional basis taking into account the
           interest rates applicable to the financial assets.

           Donations and bequests are recognised as revenue when received unless they
           are designated for a specific purpose, where they are carried forward as prepaid
           income in the balance sheet.

           Grant and donation revenue is recognised when received.

           All revenue is stated net of the amount of goods and services tax (GST).

     (i)      Cash and cash equivalents

           For the purposes of the Cash Flow Statement, cash includes cash on hand and
           at call deposits with banks or financial institutions net of bank overdrafts.


                                                                                            19
CYSTIC FIBROSIS VICTORIA INC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2009

                                                            Notes        31 DEC                31 DEC
                                                                           2010                  2009
                                                                             $                     $
2.   REVENUE

     - Members Income                                                     23,440                11,061
     - Donations, Grants and Sponsorships                               467,853               358,128
     - Government Funding                                               219,280               337,113
     - Fundraising                                                      258,614               308,190
     - Interest received                                                  10,946                   6,837
     - Other Income                                                       95,455                58,687
                                                                     ------------------    ------------------
     Total Revenue                                                  1,075,588             1,080,016
                                                                    ==========            ==========

     Total Revenue includes $94,575 of grants that will be spent in a future period but are
     controlled by the Association (31 December 2009: $300,289).


3.   PROFIT/(LOSS) FROM ORDINARY ACTIVITIES

     Profit/(loss) from ordinary activities before income tax
     expense has been determined after:

     (a)   Expenses:

           Depreciation of Non-Current Assets                             21,670                23,051
           Bad debts expense                                                          -            9,178
           Government Grant refund                                      110,000                             -
                                                                     ------------------    ------------------

     (b)   Remuneration of Auditor:

           - Auditing services                                               6,000                 4,000
           - Other services                                                           -                     -
                                                                     ------------------    ------------------
                                                                             6,000                 4,000
                                                                    ==========            ==========




                                                                                                         20
CYSTIC FIBROSIS VICTORIA INC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2010

                                                                       31 DEC                31 DEC
                                                                         2010                  2009
                                                                           $                     $

4.   CASH AND CASH EQUIVALENTS

     Cash on hand                                                             727                   352
     Cash at bank (interest rate 1.25% (prior period:1.25%)           409,250               519,999
     Deposits at call (interest rate 3.95% (prior period:3.95%)       214,853               207,423
                                                                   ------------------    ------------------
                                                                      624,830               727,774
                                                                  ==========            ==========
     The carrying amount of short term deposits
     approximates net fair values as determined by
     reference to the short term to maturity.


5.   TRADE AND OTHER RECEIVABLES- CURRENT

     Sundry debtors                                                  50,380                16,147
                                                                  ==========            ==========

6.   INVENTORIES - CURRENT

     At cost – Finished Goods (Merchandise)                          31,003                28,845
                                                                  ==========            ==========

7.   OTHER CURRENT ASSETS

     Prepayments                                                       1,556                 9,164
                                                                  ==========            ==========

8.   OTHER FINANCIAL ASSETS - NON CURRENT

     Held to maturity investments                                   100,000               100,000
                                                                  ==========            ==========
     The investment is with the Sentinel Trust, an ANZ
     investment product for the Not For Profit Sector. The
     amount is capital guaranteed if withdrawn at the
     maturity date which is 18 May 2013.




                                                                                                      21
CYSTIC FIBROSIS VICTORIA INC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2010

                                                                  31 DEC               31 DEC
                                                                    2010                 2009
                                                                      $                    $
9.    PROPERTY, PLANT & EQUIPMENT

      Land at fair value (a)                                  1,050,000            1,050,000
      Building at fair value (a)                                 350,000              350,000
      Accumulated Depreciation                                    (21,875)             (13,125)
                                                              ------------------   ------------------
                                                              1,378,125            1,386,875
                                                              ------------------   ------------------
      Fixtures & Fittings – at cost                              241,973              241,973
      Accumulated Depreciation                                  (230,003)            (227,010)
                                                              ------------------   ------------------
                                                                   11,970               14,963
                                                              ------------------   ------------------

      Cabin Holiday Units – at cost                                92,506                90,336
      Accumulated Depreciation                                    (75,376)              (74,120)
                                                              ------------------    ------------------
                                                                   17,130                16,216
                                                              ------------------    ------------------
      Office Furniture & Equipment – at cost                     113,004               109,097
      Accumulated Depreciation                                    (98,064)              (93,509)
                                                              ------------------    ------------------
                                                                   14,940                15,588
                                                              ------------------    ------------------
      Motor Vehicle – at cost                                      44,648                44,648
      Accumulated Depreciation                                    (39,205)              (37,625)
                                                              ------------------    ------------------
                                                                      5,443                 7,023
                                                              ------------------    ------------------
      Computer Software at cost                                    19,585                10,407
      Accumulated depreciation                                    (12,679)              (10,143)
                                                              ------------------    ------------------
                                                                      6,906                    264
                                                              ------------------    ------------------
      Total property, plant and equipment                     1,434,514            1,440,929
                                                             ==========            ==========

(a)   Land and buildings situated at 80 Dodds Street, Southbank were re-valued on 30
      June 2008 by the directors based on an assessment by Charter Keck Cramer of the
      property’s market value.




                                                                                                 22
CYSTIC FIBROSIS VICTORIA INC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2010


9.    PROPERTY, PLANT & EQUIPMENT (cont)

      (b)   Movements in Carrying Amounts:

            Movement in the carrying amounts for each class of property, plant and
            equipment between the beginning and the end of the current financial period


              Land and Fixtures Cabin           Office    Motor Computer                     Total
              Buildings   and    Holiday       Furniture Vehicles Software
                        Fittings Units           and
                                              Equipment
                 $            $         $          $        $         $                         $
Balance at 1
July 2010    1,386,875      14,963 16,216       15,587        7,023          264        1,440,929

Additions            -                2,170      3,907             -      9,178              15,255
Depreciation
Expense         (8,750)     (2,992) (1,256)     (4,555)       (1,580) (2,536)               (21,670)
Balance at
31 December
2010         1,378,125      11,970 17,130       14,940        5,443       6,906         1,434,514

                                                                       31 DEC                31 DEC
                                                                         2010                  2009
                                                                           $                     $
10.   TRADE AND OTHER PAYABLES - CURRENT

      Sundry Creditors and Accrued Expenses                             53,090                56,564
      Deferred Income                                                               -            1,286
                                                                   ------------------    ------------------
                                                                        53,090                57,850
                                                                  ==========            ==========




                                                                                                      23
CYSTIC FIBROSIS VICTORIA INC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2010

                                                                   31 DEC                31 DEC
                                                                     2010                  2009
                                                                       $                     $

11.   PROVISIONS

      CURRENT

      Annual leave                                               28,153                25,662
                                                              ==========            ==========

                                                                           No.                   No.

      Number of full time equivalent employees
      at year end                                                     8                      7
                                                              ==========            ==========

12.   RESERVES

      Memorial Funds Donations Reserve                                 8,303                 8,303
      Transfer to retained profits                                   (8,303)                          -
                                                               ------------------    ------------------
                                                                                -            8,303
                                                              ==========            ==========
      The memorial funds donations reserve was
      established to accumulate funds to be used during
      remembrance ceremonies.

      Asset Revaluation Reserve
      Opening balance                                         1,146,554             1,146,554
      Revaluation                                                               -                     -
                                                               ------------------    ------------------
      Closing balance                                         1,146,554             1,146,554
                                                              ==========            ==========
      The asset revaluation reserve records revaluations of
      non-current assets.

      Total Reserves                                          1,146,554             1,154,857
                                                              ==========            ==========

13.   CASH FLOW INFORMATION

      (a)   Cash at the end of the financial year as shown
            in the Cash Flow Statement is reconciled to
            the related items in the Statement of Financial
            Position as follows:

            Cash on hand                                                  727                   352
            Cash at bank                                          409,250               519,999
            Deposits at call                                      214,853               207,423
                                                               ------------------    ------------------
                                                                  624,830               727,774
                                                              ==========            ==========
                                                                                                   24
CYSTIC FIBROSIS VICTORIA INC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2010

                                                                          31 DEC               31 DEC
                                                                            2010                 2009
                                                                              $                    $
13.   CASH FLOW INFORMATION (cont)

      (b)   Reconciliation of cash flow from operations
            with profit/(loss) for the period.

            Profit/(loss) for the period                                 (78,307)                65,728

            Non cash flows in profit/(loss)
            - depreciation                                                 21,670                23,051

      Changes in Assets and Liabilities
          - Decrease/(Increase) in receivables                            (34,233)               14,916
          - Decrease/(Increase) in inventories                              (2,158)                 8,125
          - Decrease/(Increase) in prepayments                                7,608               (6,643)
          - Increase/(Decrease) in payables                                 (4,760)              26,381
          - Increase/(Decrease) in provisions                                 2,491                 8,575
                                                                      ------------------    ------------------
            Cash flows from operations                                    (87,689)             140,133
                                                                     ==========            ==========

14.   SEGMENT REPORTING

      The company operates in the charity sector providing services to all the Cystic Fibrosis
      community and members within Victoria.

15.    ASSOCIATION DETAILS

      The registered office and principal place of business of the Association is:

      Cystic Fibrosis Victoria Inc
      80 Dodds Street
      SOUTHBANK VIC 3006




                                                                                                         25
STATEMENT BY THE STATE COUNCIL
OF CYSTIC FIBROSIS VICTORIA INC



The committee has determined that the association is not a reporting entity and that this
special purpose financial report should be prepared in accordance with the accounting
policies outlined in Note 1 to the financial statements.

In the opinion of the State Council the financial report as set out on pages1 to 14:

      1. Presents a true and fair view of the financial position of Cystic Fibrosis Victoria Inc
         as at 31 December 2010 and its performance for the period ended on that date.

      2. At the date of this statement, there are reasonable grounds to believe that Cystic
         Fibrosis Victoria be able to pay its debts as and when they fall due.

This statement is made in accordance with a resolution of the State Council and is signed for
and on behalf of the State Council by:




Jennifer Loughman                     William Yeadon
Chair                                 Treasurer

17 May 2011
Melbourne




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