Annual accounts to 30 June 2013

Dear members,
Please find attached the VUHC annual accounts for the financial year ended 30 June 2013.
The VUHC’s income is predominantly from annual membership fees (a small share of the annual fees paid to the AUF is transferred to the VUHC). In FY13 this was mainly used to contribute to the junior development competition (hosted at Richmond), a training camp (at Warragul) and attendance at the AUF AGM.
One of our objectives for FY13 was to preserve the cash balance that we had at the beginning of the year. In order to do this, we took steps to limit the losses we incurred the prior two years at Nationals. We also started looking at better budgeting for other events and try to calculate the competition fees on a cost recovery basis.
While we had inherited quite a large asset balance, there was no supporting asset register. We also discovered that the asset balance was never depreciated or adjusted to reflect the assets that may have depreciated or been lost over the past 5 – 10 years. 
As such we went through a process of asking around for people that may have assets at their clubs or homes that the VUHC have paid for. 
This allowed us to compile a list of items that provided a reasonable estimate of the real assets owned by the VUHC.
We wrote off the difference of approximately $9,900, which resulted in us reporting a significant loss in assets this financial year. This was a non-cash item considered to be one-off in nature which did not impact our cash position.
As always, please feel free to provide feedback or contact me with any questions.
Martin Venter
VUHC Treasurer
On behalf of the VUHC Committee