Financial Report 2023-2024

Treasurer’s Report

SHA had a surplus of $22,712 in the year from 1 July 2023 to 30 June 2024, compared to a deficit of $79,796 in the prior year.

Income for 2024 was $1,444,291 which is $91,566 higher than the previous year. The largest component of income was recurrent grants from the Victorian Government, totalling $1,366,119 which has been recognised in the income statement this financial year.

Expenses for the year were $1,421,579, a decrease of $10,942 from the previous year. Grant disbursements to member faith communities were $642,074, higher than the previous year by $32,504.

Employee expenses for the year were lower than the previous year by 9 percent. There was a decrease in depreciation of $411 from the previous year and a decrease in other expenses by $4,220 compared to the previous year.

As of 30 June 2024, SHA had cash at bank of $556,878, which is 88 percent of total assets. Total liabilities decreased by $6,077 compared to the previous year. After providing for all liabilities, SHA had net assets of $470,974 as of 30 June 2024.

Financial Statements for the Year Ending 30 June 2024

The following is abbreviated income and balance sheet information.