Report of Grand Treasurer at Grand Proclamation in Rockhampton,
November 2011
The Grand Treasurer, V. Ex. Comp. K. J. Leeke, presented the Treasurer’s Report and the interim Financial Statements and Balance Sheets of Grand Chapter for the nine months to 30th September, 2011, which were included in the handouts for the Grand Convocation, and moved that they be received. The Grand Registrar seconded the motion which was carried. A copy of his report is included hereunder.
Most Excellent. I believe that the accounts are reasonably sound and self explanatory. There are a couple of matters I would like to highlight:‐
- Our investments were adjusted to market value at 31st December, 2010, and I do not believe that there has been and significant movements between then and now that would significantly change the position shown in the Balance Sheet.
- We currently have excess funds in the bank, and these are allocated for a specific purpose, and excess funds will be reinvested once the exact amount of that payment is determined.
- All debts except the September PAYE (Withholding) tax have been paid. The September tax was paid before 21st October which was the due date. I believe we are in a position to meet all debts as they fall due.
- Each year, sets a budget for the forthcoming year. This year, we have implemented procedures where the budget is keyed into the computer, and is compared with the actual each month, and reviewed by Grand Committee. Actual figures are surprisingly close to the budgeted figures.
- Budgeting for 2012 is underway, and should be presented for approval at the next Grand Committee meeting. Preliminary estimates are that capitation fees will increase between $5.00 and $10.00, although the early payment will be retained.
- All tax returns have been completed and lodged by the appropriate due dates.
Kirby J. Leeke
Grand Treasurer