VICTORIAN COUNTRY CRICKET LEAGUE INC.
Statement of Income and Expenditure
For year ended 31 May 2004
$ $ $
Affiliation Fees 2,800.00 2,890
Grants - Cricket Victoria
Administration 4,410.00 4,200
Under 21 Inter Region Competition 13,000.00 13,000
Administration Manager 12,000.00 29,410.00 -
Melbourne Country Week Entry Fees 7,200.00 7,500
Term Deposits 1,342.44 1,349
General Account 43.28 1,385.72 25
Sale of Clothing/Uniforms 550.00 350
TOTAL INCOME 41,345.72 29,314
Administration Manager's Allowance 11,000.00 -
Travel allowances - Board Meetings 4,620.00 4,315
Internet allowances 3,750.00 3,600
Board and Annual Meeting Expenses 193.00 155
Postage, Stationery and Petty Cash 152.67 479
Interview Expenses - Administration Manager Position 251.00 516
Honoraria 1,600.00 2,200
Printing - annual report 470.00 520
Telephone 961.34 705
Insurance - 1,059
Bank account debits tax 72.20 93
Filing Fee re Annual Statement 33.00 -
Dictaphone Expenses 45.00 690
Website Fee 275.00 -
Australian Country Cricket Championships
(Mt Gambier 2004/Bundaberg 2003)
Levy 1,100.00 1,100
Air Fares and Accommodation 1,378.00 9,372
Clothing/ Uniforms 2,346.00 1,915
Players' Travel Allowances 1,252.00 1,041
Trial Match Expenses 94.25 302
Delegate's Meeting Expenses 197.50 149
Manager's Expenses and Sundry Expenses 830.90 760
Selectors' Travel and Telephone Expenses 1,670.00 749
Team Photographs 400.00 -
Presentation Dinner 425.00 -
Under 21 Inter Region Competition 6,586.17 7,690
Melbourne Country Week
Administration Expenses incl Accommodation/Meals 3,544.90 2,225
Trophies Engraving and Awards 899.25 357
Results Vault Subscription 1,320.00 -
Cricket Victoria Functions Nil 420
TOTAL EXPENDITURE 45,467.18 40,412
OPERATING DEFICIT FOR YEAR ($4,121.46) ($11,098)
This financial report should be read in conjunction
01041560 with the attached Auditor's report.
VICTORIAN COUNTRY CRICKET LEAGUE INC.
ABN: 56 705 350 398
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2004
NOTE 1 Statement of Significant Accounting Policies
This financial report is a special purpose financial report prepared in order to satisfy the financial
reporting requirements of the Association’s Incorporation Act (Victoria). The committee has
determined that the association is not a reporting entity.
The financial report has been prepared in accordance with the requirements of the Associations
Incorporation Act (Victoria) and the following Australian Accounting Standards.
AAS 3 Accounting for Income Tax
AAS 5 Materiality
AAS 8 Events Occurring After Reporting Date
No other applicable Accounting Standards, Urgent Issues Group Consensus Views or other
authoritative pronouncements of the Australian Accounting Standards Board have been applied.
The financial report has been prepared on an accruals basis and is based on historic costs and
does not take into account changing money values, or except where specifically stated, current
valuations of non-current assets.
The following material accounting policies, which are consistent with the previous period unless
otherwise stated, have been adopted in the preparation of this financial report.
(a) Income Tax
The Association adopts the liability method of tax-effect accounting whereby the
income tax expense shown in the income and expenditure statement is based on the
operating profit before income tax adjusted for any permanent differences.
Non-member income of the association is only assessable for tax, as member income
is excluded under the principle of mutuality.
INDEPENDENT AUDIT REPORT
To the Members of Victorian Country Cricket League Inc
I have audited the attached special purpose financial report of Victorian Country Cricket League
Inc for the year ended 31 May 2004 comprising Statement of Income and Expenditure and
Statement of Assets and Liabilities. The Victorian Country Cricket League Inc is responsible for the
preparation and presentation of the financial report and the information contained therein, and
have determined that the basis of accounting used is appropriate to the needs of the members. I
have conducted an independent audit of the financial report in order to express an opinion on it to
the members. No opinion is expressed as to whether the basis of accounting used is appropriate
to the needs of the members.
The special purpose financial report has been prepared for distribution to the members of the
Victorian Country Cricket League Inc for the purpose of fulfilling the Committee’s accountability
requirements. I disclaim any assumption of responsibility for any reliance on this report or on the
financial report to which it relates, to any person other than the members, or of any purpose other
than that for which it was prepared.
My audit has been conducted in accordance with Australian Auditing Standards. My procedures
included examination, on a test basis, of evidence supporting the amounts and other disclosures in
the financial report. and the evaluation of significant accounting estimates. These procedures have
been undertaken to form an opinion whether, in all material respects the financial report is
presented fairly in accordance with the accrual basis of accounting described in Note 1 to the
The audit opinion expressed in this report has been formed on the above basis.
It is not practical for Victorian Country Cricket League Inc to maintain an effective system of
internal control over Grants and Sale of Clothing/Uniforms until their initial entry in the accounting
records. Accordingly, my audit in relation to Grants and Sale of Clothing/Uniforms was limited to
Qualified Audit Opinion
In my opinion, subject to the effects of such adjustments, if any, as might have determined to be
necessary had the limitation discussed in the qualification paragraph not existed, the financial
report of Victorian Country Cricket League Inc presents fairly the assets and liabilities at 31 May
2004 and the income and expenditure of the association for the year then ended in accordance
with the basis of accounting described in Note 1 to the financial statements.
NORMAN V KENNY
18 Baker Street
Wangaratta Vic 3677
26 July 2004