MPC 2003 Annual Report - melbournepressclub.com · Quill Awards 2003 Pages 7-8. 2 ... after six years with one of our major sponsors Smart Works. She and Sophie Gaylard have made

ANNUAL REPORT

For the year ended31 December 2003

1

MELBOURNE PRESS CLUBContents Page

______________________________________________________________

Contents Page 1

Committee 2003 Page 2

President’s Report Page 3

Treasurer’s Report Page 4

General Manager’s Report Page 5

Functions Calendar 2003 Page 6

Quill Awards 2003 Pages 7-8

2

MELBOURNE PRESS CLUBCommittee 2003

______________________________________________________________

President: Ian Henderson, ABC TV

Vice Presidents: Peter Bartlett, Minter Ellison

Bob Kearsley, Channel 9

Treasurer: David Poulton, Minter Ellison

Secretary: Sue Henderson

Committee: Adrian Anderson, Corrs Chambers Westgarth

(resigned Jan 2004)

Eileen Berry, The Age

Bill Birnbauer,The Age

Sylvia Bradshaw, Leader Community Newspapers

Genevieve Brammall, Herald Sun

Rob Curtain, 3AW

Michele Fonseca, ABC TV

Linda Fuller, Channel 7

(resigned October 2003)

Melissa Fyfe, The Age

Richard Leder, Corrs Chambers Westgarth

Keith Moor, Herald Sun

Justin Quill, Corrs Chambers Westgarth

(joined Feb 2004)

John Rees, RACV

Andrew Rule, The Age

Mike Smith, Inside PR

Karalee Tilvern, Channel 7

(joined October 2003)

John Trevorrow, Herald Sun

3

MELBOURNE PRESS CLUBPresident’s Report 2003

______________________________________________________________

It’s my great pleasure to give an overview of the Melbourne Press Club’s past year... and theprospects for the year ahead. However you choose to measure it, the club has enjoyedanother very successful year. Membership is up to around 560. We’ve extended the numberand range of our functions, our sponsorship base is rock solid and we’ve added another toour list, the Sensis award for Student Journalism.

2003 was also a time of considerable change for the club. Our General Manger Mary Cotterleft us after several years of outstanding service, and President Neil Mitchell moved on afterpresiding over a period of record growth and consolidation for the club. Both contributed alion-hearted effort, and on behalf of the club, I’d like to put on record our sincere appreciation.

Happily, there’s been a smooth transition. Sue Henderson has settled in extremely well asGeneral Manager, after six years with one of our major sponsors Smart Works. She andSophie Gaylard have made a very capable and efficient team. I was honoured to be electedpresident last year, though Neil’s are big shoes to fill. I will be standing again this year, thoughI believe that it’s in the best interests of the club for the presidency to be shared around. Iwould expect to be handing over to a worthy successor this time next year.

Our mainstay events, the Quills, the annual journalism conference, and our program oflunches are now well-established. Over the past year, we’ve also made a concerted attemptto reach out to students and younger working journalists, through initiatives such as theSensis award, the student stream at the conference, and our regular drinks nights. Severalcommittee members also made themselves available as guest speakers at Deakin and RMITuniversities.

We’ll consolidate this effort during 2004 as well as launching some new strategic directions.We’re currently working on finding a home for our “Hall of Fame”; refining ideas for a mid-career scholarship, and seeking to expand our list of member benefits.

None of this happens without a lot of hard work, and I’d like to thank this year’s committeemembers whose energy and enthusiasm has been second to none. There was a lot of newblood this year… Sylvia Bradshaw, Genevieve Brammall, Michele Fonseca, Melissa Fyfe,Rob Curtain, Bill Birnbauer and Kiralee Tilvern. They made an immediate impact. There wasa sharp spike in membership numbers and some great ideas for new functions, most notablythis year’s Journalists’ Ball.

Thanks too to all our sponsors, most of whom have now been with us for a number of years.We do value long-term relationships. I was particularly pleased to welcome LeaderNewspapers to our sponsors’ list this year. Our media sponsors are the club’s heart and soul,and most media organisations are now solidly behind us.

There’s a lot to look forward to in the year ahead with the tenth anniversary of the Quillawards next March, and another sensational conference agenda taking shape for lateOctober. I recommend all these activities to you, our members, and thank you for yourongoing support. We couldn’t do it without you.

Ian HendersonPresident

4

MELBOURNE PRESS CLUB Treasurer’s Report

______________________________________________________________

2003 was another year of solid financial performance for the Melbourne Press Club.

The highlights of financial performance included:

• Sponsorship revenue continued at a healthy level of $257,500 (up from$223,818 in 2002).

• Membership revenue again increased steadily, from $16,774 in 2002 to$18,035 in 2003.

• Total revenue increased by 7% to $382,597, up from $356,509 in 2002.

• Total costs increased to a greater extent, from $323,168 in 2002 to$369,465 in 2003.

• Some of the increased costs arose from timing issues, but increases in thecosts associated with functions (such as travel expenses) also contributed.

• Expenses were nevertheless well contained and the Club posted a netoperating profit in 2003 of $13,132.

• Bank balance of $88,966 as at 31 December 2003.

Achievements in 2003

The Club in 2003 continued to improve the professionalism of its administrationsystems. Towards the end of the year new computers and software were purchased(Note - these expenses will appear in the 2004 accounts), enabling our secretariat tobetter manage accounting records, the membership database, and the organisationof functions.

During 2003 we farewelled our General Manager, Mary Cotter due to her family'smove interstate, but made a smooth transition to our new General Manager andSecretary, Sue Henderson.

Sue was well supported by our Assistant Manager, Sophie Gaylard and ourindependent account continued to oversee payroll transactions, GST accounting, andour ongoing financial reports.

We have continued to observe the procedures required by our Auditors to ensurethat accounting and association standards are met.

I would like to take this opportunity to thank our Auditors, BDO for their excellent andefficient service.

Date: 26 May 2004

David PoultonTreasurer

Melbourne Press Club

5

MELBOURNE PRESS CLUBGeneral Manager’s Report 2003

______________________________________________________________

2003 was a big year for the Club. After 5 years as General Manager Mary Cotterresigned to move to Sydney. I took over the reins in early March, just in time to helpout with the 2002 Quill Awards Dinner that was held at the Grand Hyatt on 12 March.It was a great night with a record number of entries and guests. Most agree that theguest speaker Laurie Oakes delivered one of the best Quills speeches to date.

It was a busy year from then on with a healthy program of luncheons, social activitiesand other functions. Lunch guests included Richard Alston, The CoodabeenChampions, Geoffrey Robertson, Iraq War Correspondents, Graeme Samuel,Andrew Wilkie, Greg Roberts and Sunil Gavaskar.

Other functions included the Public War Forum held in association with The Age atthe Melbourne Town Hall, a day at the Healesville Races, our Annual Trivia Nighthosted by trivia whiz David Poulton and several informal get-togethers with the MediaMums, cadet journalists and journalism students.

One of the highlights of the year was the 2003 Journalism Conference that was heldon 17 October at the Iwaki Åuditorium and CUB Malthouse. The Conference,sponsored by The Age and supported the ABC, attracted an audience of 400including journalists and students. The Keynote speakers were UK columnist andbroadcaster Amanda Platell and US plagiarism expert John Barrie. Other highlightswere Paul McGeough who joined us live by satellite from New York and Mark Day’sHypothetical. There were also sessions on the war in Iraq, crime, career paths andsports reporting.

One of the club’s main focuses for the year was students and young journalists. Toencourage them to attend our luncheons we introduced the ‘student sandwich lunch’and we organised a number of drinks evenings at the Golden Gate Hotel in SouthMelbourne. The placement of our noticeboards at university campuses and newsorganizations helped to further encourage their attendance and membership.

The Club is staffed by myself and Assistant Manager, Sophie Gaylard. Both Sophieand I are contracted to work a 4-day week. During busy periods we work extra daysand employ casual staff to help out. The secretariat is housed at the Minters Ellisonoffices in the Rialto Towers. We are particularly grateful to Minters for providing officepremises and support. I would also like to thank Smart Works who now look after ourIT and graphic design and BDO who once again, has produced the Financial Report.My thanks also to all the other sponsors – I am very grateful for your help andassistance.

I would also like to thank all the committee members for their tireless enthusiasm andinput, in particular Mike Smith and David for their administrative support on a dailybasis. It’s been a great year and a pleasure getting to know everyone involved withthe Club. I look forward to the year ahead.

Sue Henderson

General Manager

6

MELBOURNE PRESS CLUBFunctions Calendar 2003

______________________________________________________________

LUNCH/DINNER FORUM SOCIAL EVENT

February Richard Alston lunchMedallion Club20.02.03

March Quill Awards dinnerGrand Hyatt14.03.03Coodabeens’ lunchMedallion Club28.03.03

Public War ForumMelbourne Town Hall18.03.03

Sponsor Cocktail partyMinter Ellison offices12.02.03

April Geoffrey Robertson lunchMedallion Club16.04.03

Healesville Races 5.04.03

May Peter Foster - cancelled21.05.03AGMRACV Club28.05.05

Neil’s farewell dinner(committee only)The [email protected]

June Working in a War ZoneMedallion Club20.06.03

July Graeme SamuelMedallion Club18.07.03Andrew WilkieMedallion Club31.07.03

August Greg RobertsMedallion Club27.08.03

Trivia NightGolden Gate Hotel22.08.03

September Millennium Journos’DrinksGolden Gate Hotel25.09.03Media Mums FilmmorningCinema Nova24.09.04

October Journalism 2003ConferenceIwali Auditorium & CUBMalthouse17.10.03

Conference KeynoteDinnerDonovans16.10.03

November

December Sunil GavaskarMedallion Club1.12.03

Christmas DrinksGolden Gate Hotel11.12.03Christmas DinnerYoung & Jackson(committee only)4.12.03

7

MELBOURNE PRESS CLUB Melbourne Press Club Quill Awards 2003

______________________________________________________________

The Gold Quill

Julie-Anne Davies & Steve Waldon The Age

The Graham Perkin Award for the Australian Journalist of the Year

Peter Wilson The Australian

The Grant Hattam Award

Paul Moran ABC TV

Lifetime Achievement Award

Claude Forell The Age

Young Journalist of the Year Award

Mandi Zonneveldt Herald Sun

RACV Transport Quill

Nick Papps Herald Sun

Best ColumnistGeorge Megalogenis The Australian

Best Sports Story in any MediumCaroline Wilson The Age

Best Business Story in any Medium

Adele Ferguson Business Review Weekly

Best TV Camerawork in News and Current Affairs

Mark Doberer & Ivan Dodin Inside Business, ABC TV

Best News Photograph

Heath Missen The Age

Best Sports Photograph

Michael Dodge Herald Sun

Best Features Photograph

Simon Schluter The Age

Best Three Headlines in any Medium

Gary McGregor MX Newspaper

Best Page Layout

Warwick McFadyen The Sunday Age

Best Illustration in any MediumMick Connolly The Age

Best CartoonPeter Nicholson The Australian

8

MELBOURNE PRESS CLUBContinued… Melbourne Press Club Quill Awards 2003

______________________________________________________________

Best Deadline Report in any Medium

Brendan Nicholson The Age

Best Investigative Report in any Medium

Cameron Stewart & Martin Chulov The Australian

Best On-line ReportSimon Johanson & Hugh J Martin The Age

Best Suburban or Regional Report in any MediumEditorial Team Pakenham Gazette

Best Rural Affairs Report in any MediumBelinda Hawkins & Mara Blazic Australian Story, ABC TV

Best TV News Report

Rebecca Maddern Channel 7

Best Radio News Report

Paul Bentley 3AW

Best TV Current Affairs Report

Josephine Cafagna & Peter Drought Stateline, ABC TV

Best Radio Current Affairs Report

Neil Mitchell 3AW

Best News Report in Print

Gerard McManus, Jason Frenkel & Michael Harvey Herald Sun

Best Feature in Print

Julie-Anne Davies & Steve Waldon The Age

I:\14\14421900\accts\Accounts FS 2003.doc

THE MELBOURNE PRESS CLUB INCORPORATED Registered No. HA0033857 J

A.B.N. 27 713 079 515

FINANCIAL REPORT FOR THE YEAR ENDED

31 DECEMBER 2003

1


A.B.N. 27 713 079 515

CONTENTS

Page Ref.

2. Committee’s Report 3. Independent Auditor’s Report 4. Statement by Members of the Committee 5. Statement of Financial Performance 6. Statement of Financial Position 7. Statement of Cash Flows 8. Notes to and Forming Part of the Financial Statements

2

THE MELBOURNE PRESS CLUB INCORPORATED

Registered No. HA0033857 J A.B.N. 27 713 079 515

Your committee members submit the financial statements of The Melbourne Press Club for the financial year ended 31 December 2003. The names of the committee members throughout the year and at the date of this report are: Ian Henderson (ABC TV): President Peter Bartlett (Minter Ellison): Vice President Bob Kearsley (Nine Network): Vice President David Poulton (Minter Ellison): Treasurer

Sue Henderson: Secretary

Bill Birnbauer (The Age) Sylvia Bradshaw (Leader Community Newspapers)

Genevieve Brammall (Herald Sun) Eileen Berry (The Age) Rob Curtain (3AW) Michele Fonseca (ABC TV) Melissa Fyfe (The Age) Richard Leder (Corrs Chambers Westgarth) Justin Quill (Corrs Chambers Westgarth) (Appointed January 2004) Adrian Anderson (Corrs Chambers Westgarth) (Resigned January 2004) Keith Moor (Herald Sun) John Rees (RACV) Andrew Rule (Good Weekend) Mike Smith (Inside PR) Karalee Tilvern (Channel 7) John Trevorrow (Herald Sun)

Principal Activities The principal activities of the organisation during the financial year were: • Annual Quill Awards for Excellence in Victorian journalism; • Social functions for members; • Journalism conferences; • Regular club lunches with high-profile speakers; and • Forums for debate on professional issues. Significant Changes No significant change in the nature of these activities occurred during the financial year. Operating Results The surplus from ordinary activities for the year amounted to $13,132 (2002: Surplus of $33,341). This figure reflects the fact that during the year, The Melbourne Press Club received strong support in sponsorship and membership from the public, with expenses well maintained. Signed in accordance with a resolution of the members of the committee.

Member Mr David Poulton Dated this 24 day of May 2004.

3


A.B.N. 27 713 079 515

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF THE MELBOURNE PRESS CLUB INCORPORATED

Scope We have audited the financial report, being a special purpose financial report, of The Melbourne Press Club Inc. for the year ended 31 December 2003. The committee is responsible for the financial report and has determined that the accounting policies used and described in the financial statements which form part of the financial report are appropriate to meet the requirements of the Associations Incorporation Act (Victoria) and are appropriate to meet the needs of the members. We have conducted an independent audit of this financial report in order to express an opinion on it to the members of The Melbourne Press Club Inc. No opinion is expressed as to whether the accounting policies used are appropriate to the needs of the members. The financial report has been prepared for the purpose of fulfilling the requirements of the Association Incorporated Act (Victoria). We 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 for any purpose other than that for which it was prepared. Our audit has been conducted in accordance with Australian Auditing Standards. Our 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 accounting policies as to present a view which is consistent with our understanding of the Association’s financial position, and performance as represented by the results of its operations and its cash flows. These policies do not require the application of all Accounting Standards and other mandatory professional reporting requirements in Australia. The audit opinion expressed in this report has been formed on the above basis. Audit Opinion In our opinion, the financial report presents a true and fair view in accordance with the accounting policies described in the financial statements, the financial position of The Melbourne Press Club Inc. as at 31 December 2003 and the results of its operations for the year then ended.

BDO Chartered Accountants

JEFFREY F KNOTT Partner Melbourne Date: 24 May 2004

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A.B.N. 27 713 079 515

STATEMENT BY COMMITTEE OF MANAGEMENT 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 the financial statements. In the opinion of the committee the financial report:

1. Presents fairly the financial position of The Melbourne Press Club Inc. as at 31 December 2003 and its performance for the year ended on that date.

2. At the date of this statement, there are reasonable grounds to believe that The Melbourne Press Club

Inc. will be able to pay its debts as and when they fall due. This statement is made in accordance with a resolution of the committee and is signed for and on the behalf of the committee by:

Treasurer: Mr David Poulton Dated this 24 day of May 2004

5


A.B.N. 27 713 079 515

STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 31 DECEMBER 2003

Note 2003

$ 2002

$ Revenues from ordinary activities 2 382,597 356,509 Employee benefits expense (90,708) (74,687)Sponsorship, conference and function expenses

(189,578) (186,171)

Administration and office expenses (3,782) (1,092)Other expenses from ordinary activities (85,397) (61,218) (Deficit)/Surplus from ordinary activities 4 (b) 13,132 33,341 Total changes in members’ funds 13,132 33,341

6


A.B.N. 27 713 079 515

STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 DECEMBER 2003

Note 2003 2002 $ $ CURRENT ASSETS Cash 4 (a) 88,966 97,802 Investment - 1,000 TOTAL CURRENT ASSETS

88,966

98,802

TOTAL ASSETS

88,966

98,802

CURRENT LIABILITIES

Accrued liabilities 5 7,394 6,972 Provision for Annual Leave 5 6,610 - Deferred income 6 - 30,000 TOTAL CURRENT LIABILITIES

14,004

36,972

TOTAL LIABILITIES

14,004

36,972

NET ASSETS

74,962

61,830

MEMBERS’ FUNDS Accumulated surplus 7 74,962 61,830 TOTAL MEMBERS’ FUNDS 74,962 61,830

7


A.B.N. 27 713 079 515

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2003

Note 2003 $

2002 $

Cash Flows from Operating Activities: Receipts from grants, membership fees and other income

352,597

372,509

Payment to suppliers and employees 361,433 (303,933) Net Cash (Used in) Provided by Operating Activities

4 (b)

(8,836)

68,576

Cash at Beginning of Financial Year 97,802 29,226 CASH AT END OF FINANCIAL YEAR 4 (a) 88,966 97,802

8


A.B.N. 27 713 079 515

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2003

NOTE 1: STATEMENT OF 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 (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: AASB 1018 Statement of Financial Performance AAS 4 Depreciation AAS 5 Materiality AAS 8 Events Occurring After Reporting Date AAS 10 Recoverable Amount of Non-Current Assets AAS 14 Equity Method of Accounting AAS 15 Revenue AAS 17 Leases AAS 28 Statement of Cash Flows AAS 30 Accounting for Employee Entitlements AAS 36 Statement of Financial Position AAS 37 Financial Report Presentation and Disclosures AAS 38 Revaluation of Non-Current Assets Australian Accounting Standard AAS6: Accounting Policies, has not been applied but certain provisions of this standard have been adopted. No other applicable Accounting Standards, Urgent Issues Group Consensus Views or other authoritative pronouncements of the Australian Accounting Standards Boards 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 is exempt from income tax pursuant to Section 50-5 of Income Tax Assessment Act (1997).

(b) Fixed Assets

Leasehold improvements and office equipment are carried at cost less, where applicable, any accumulated depreciation. The depreciable amount of all fixed assets are depreciated over the useful lives of the assets to the association commencing from the time the asset is held ready for use. Leasehold improvements are amortised over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements.

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A.B.N. 27 713 079 515


NOTE 1: STATEMENT OF ACCOUNTING POLICIES (cont’d)

(c) Leases

Leases of fixed assets, where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership, are transferred to the association, are classified as finance leases. Finance leases are capitalised recording an asset and a liability equal to the present value of the minimum lease payments, including any guaranteed residual values. Leased assets are amortised on a straight line basis over their estimated useful lives where it is likely that the association will obtain ownership of the asset or over the term of the lease. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period. Lease payments under operating leases, where substantially all the risks and benefits remain with the lessor, are charged as expenses in the period in which they are incurred.

(d) Employee Entitlements

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. Other employee entitlements payable for later than one year have been measured at the present value of the estimated future cash outflows to be made for those entitlements. Contributions are by the Association to employee superannuation funds and are charged as expenses when incurred.

(e) Revenue Recognition

Revenue from membership fees are recognised upon receipt. Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets.

(f) Cash

For the purposes of the Statement of Cash Flows, cash includes cash on hand, at bank and on deposit, net of bank overdrafts.

(g) Investments

Non-current investments are measured on the cost basis. The carrying amount of investments is reviewed annually by directors to ensure it is not in excess of the recoverable amount of these investments. The recoverable amount is assessed from the quoted market value for shares in listed companies. The expected net cash flows from investments have not been discounted to their present value in determining the recoverable amounts.

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A.B.N. 27 713 079 515


NOTE 1: STATEMENT OF ACCOUNTING POLICIES (cont’d)

(h) Goods and Services Tax

Revenues, expenses and assets are recognised net of the amount of goods and services tax (GST), except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO). In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables are stated with the amount of GST included, where applicable. The net amount of GST recoverable from, or payable to, the ATO is included as a current asset or liability in the balance sheet. Cash flows are included in the statement of cash flows on a gross basis. The GST component of cash flows arising from investing and financing activities which are recoverable from, or payable to, the ATO are classified as operating cash flows.

(i) Comparatives Where required by accounting pronouncements, comparative figures have been represented or

reclassified to conform with changes in presentation for the current financial year.

2003 $

2002 $

NOTE 2: REVENUE Operating Activities Subscriptions/Membership fees 18,035 16,774 Functions 49,486 53,163 Sponsorships and grants 257,500 223,818 Quill awards 38,228 36,679 Conference 17,050 21,189 Rebanking credit card errors 634 1,768 Bank interest 990 1,015 Donations - - Other Income 674 2,103 Total Revenue from operating activities

382,597

356,509

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A.B.N. 27 713 079 515


2003

$ 2002

$ NOTE 3: PROFIT FROM ORDINARY ACTIVITIES

Profit from ordinary activities has been determined after charging as an expense:

Remuneration of auditor for: - audit services 1,000 1,000 1,000 1,000 NOTE 4: CASH

(a) Reconciliation of Cash Cash on deposit

Petty cash 250 250 Cash at bank 88,716 97,552 88,966 97,802 (b) Reconciliation of net cash (used in)

provided by operating activities to operating (deficit) surplus after income tax

Operating (deficit) surplus 13,132 33,341

Changes in assets and liabilities Net increase (decrease) in liabilities (22,968) 27,235 Net (increase) decrease in assets 1,000 8,000 Net cash (used in) provided by operating Activities

(8,836)

68,576

NOTE 5: PAYABLES

CURRENT Other creditors and accrued liabilities Provision for Annual Leave 6,610 - GST Payable 1,987 1,620 PAYG payable 4,407 4,352 Audit fee 1,000 1,000 14,004 6,972

2003

$ 2003

$ NOTE 6: DEFFERED INCOME

CURRENT Income received in advance - 30,000 - 30,000

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A.B.N. 27 713 079 515


2003 $

2002 $

NOTE 7: ACCUMULATED SURPLUS

Accumulated surplus at the beginning of the year

61,830

28,489

Surplus from ordinary activities 13,132 33,341 Accumulated surplus at the end of the year 74,962 61,830 NOTE 8: ECONOMIC DEPENDENCY A significant portion of income is received by way of membership revenue and sponsorship. .

NOTE 9: RELATED PARTY TRANSACTIONS Committee Members: The names of the members of the committee who have held office during the financial year are:

Ian Henderson (ABC TV): President Peter Bartlett (Minter Ellison): Vice President Bob Kearsley (Nine Network): Vice President David Poulton (Minter Ellison): Treasurer

Sue Henderson: Secretary

Bill Birnbauer (The Age) Sylvia Bradshaw (Leader Community Newspapers)

Genevieve Brammall (Herald Sun) Eileen Berry (The Age) Rob Curtain (3AW) Michele Fonseca (ABC TV) Melissa Fyfe (The Age) Richard Leder (Corrs Chambers Westgarth) Justin Quill (Corrs Chambers Westgarth) (Appointed January 2004) Adrian Anderson (Corrs Chambers Westgarth) (Resigned January 2004) Keith Moor (Herald Sun) John Rees (RACV) Andrew Rule (Good Weekend) Mike Smith (Inside PR) Karalee Tilvern (Channel 7) John Trevorrow (Herald Sun)

Committee Member’s Remuneration: No income is paid or payable to members of the committee by the association and any related entity.

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A.B.N. 27 713 079 515


NOTE 10: SEGMENT REPORTING The organisation operates predominantly in one sector (media/journalism) and on geographic location (Australia)

NOTE 11: PRINCIPAL PLACE OF BUSINESS

The principal place of business of the association is: Level 3, 525 Collins Street Melbourne, Vic 3000

14

AUDITOR’S REPORT ON ADDITIONAL INFORMATION


A.B.N. 27 713 079 515

To the Members

The additional information presented in the following page has not been subject to audit. Accordingly, we do

not express an opinion on the additional information.

BDO Chartered Accountants

JEFFREY F KNOTT Partner Melbourne Date: 24 May 2004

15

THE MELBOURNE PRESS CLUB INCORPORATED

Registered No. HA0033857 J A.B.N. 27 713 079 515

INCOME AND EXPENDITURE STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2003

Note 2003

$ 2002

$ INCOME Subscriptions/Membership 18,035 16,774 Functions 49,486 53,163 Sponsorships and Grants 257,500 223,818 Quill Awards 38,228 36,679 Conference 17,050 21,189 Rebanking Credit Card Errors 634 1,768 Bank Interest 990 1,015 Other Income 674 2,103 382,597 356,509 EXPENDITURE Function Costs 56,990 82,461 Quill Award Costs 90,074 104,113 Conference Costs 42,514 38,087 Secretarial Fees and Expenses 90,708 74,687 Administrative Cost 3,782 1,092 Merchant Credit Card Fees - 2,726 Audit Fee 1,000 1,000 Sundries 663 2,998 Stationery 11,538 - Death Note - 429 Insurance 6,915 1,665 Sponsor Expenses 9,724 - Speakers & Representatives 4,824 - Other Expenses 4,912 4,091 Travel 12,139 - Investment Write-Off 1,000 - ATO PAYG Tax 32,682 9,819 369,465 323,168 NET OPERATING GAIN/LOSS 13,132 33,341 Accumulated surplus/deficit at the beginning of the

financial year

8,821

(24,520) Accumulated surplus/deficit at the end of the

financial year

21,953

8,821

Documents

MPC 2003 Annual Report - melbournepressclub.com · Quill Awards 2003 Pages 7-8. 2 ... after six years with one of our major sponsors Smart Works. She and Sophie Gaylard have made