SACBCI 2018 AGM Minutes and Audited Financial Statements
Our apologies for the delay in sending the following:
At the time of the AGM the 2017/2018 Financial Statements were being audited, therefore our 2017/2018 Financial performance was presented. We were advised post AGM there had been a number of book keeping errors which required significant revision before being accepted for re-auditing. The errors were resolved and accepted with the revised 2017/2018 Financial Statements be resubmitted for auditing.
The revised 2017/2018 Financial Statements were audited and accepted by the Council Executive (16th February 2019) resulting in a loss of ($10,694.83). This loss is attributed to incorrect bookkeeping errors related to inventory that was received and not recorded and as a result was written down ($18,164.85) as well as a number of other small book keeping errors. Originally it was reported at the AGM we had made a surplus of $6000.
As this was a long process and occurred during our busiest time we have been in a position to send the minutes and audited financials until now.
More than happy to discuss.