Page 27 - AYC Annual Report 2017 - 2018

Treasurer's

Message 23.

Dear Members, friends and supporters of Auburn Youth Centre,

On behalf of the board, I am pleased to present my Treasurer’s Report for the financial year ended 30 June 2018 and the Audited
Financial Statement of Auburn Youth Centre Inc.

It is pleasing to report that this year AYC recorded a net surplus of $27k compared to $18k in previous year. Our surplus exists due to
new revenue streams that are not tied to program outcomes.

Income for financial year 2017-18 increased to $507k from $398k. We received grants namely from NSW Department of Family and
Community Services, Cumberland Council and Multicultural NSW. The $56k from Community Building Partnership Grant and Cum-
berland Council’s $39k Infrastructure grant along with an existing grant from Dooleys Lidcombe Catholic Club enabled us to build
AYC Training Kitchen. This is in line with our strategic plan to support to young people and to create employment pathways. The Board
of Directors offers thanks for the ongoing support of the NSW Government, Cumberland Council and Club Dooleys.

The operating expenditures increased to $479k from $379k mainly due to the café development $22k, program costs increasing to
$26k and wages and oncosts increasing by $51k. These increases are in line with project outcomes and the implementation of the
Equal Remuneration Order.

With AYC delivering a surplus, the equity of Auburn Youth Centre has raised to $114k from $87k at the end of the financial year. This
equity places AYC in a solid financial position.

I am proud of the work of the AYC Board, staff and volunteers. We continue to deliver transformation
of our projects in line with our strategic plan and funding requirements and provide quality services
to the community.

The Board of Auburn Youth Centre will continue to thrive and looks forward to another successful year.
I hope you enjoy reviewing this report.

Thank you

Your sincerely
Mannee Chew

23