Annual Report 2015 Speech Pathology Australia

21 Members’ guarantee The Company is incorporated under the Corporations Act 2001 and is a Company limited by guarantee. If the Company is wound up, the constitution states that each member is required to contribute a maximum $100 each towards meeting any outstanding obligations of the entity. At 31 December 2015, the total amount that members of the Company are liable to contribute if the Company wound up is $692,900 (2014: $650,200).

17.2 Operating leases as lessor The Company’s future minimum lease receipts are as follows:

Minimum lease payments due

Within 1 year $

1 to 5 years $

After 5 years $

Total $

31 December 2015 79,746 116,783 -

196,529

31 December 2014

-

-

-

-

Lease income during the period amount to $79,746 (2014: $0) representing the minimum lease receipts. The property lease commitments is a non-cancellable operating lease with lease term of three (3) years. Increases in lease payments may occur in line with CPI or market rent reviews in accordance with the agreement. 18 Commitments The Company has commitments to signed contracts for project consultancy for the amount of $117,000, of which $87,872 remains outstanding at 31 December 2015. 19 Bequests

Directors’ Declaration

1 In the opinion of the Directors of The Speech Pathology Association of Australia Ltd: a The financial statements and notes of The Speech

Pathology Association of Australia Ltd are in accordance with the Corporations Act 2001 , including: i) Giving a true and fair view of its financial position as at 31 December 2015 and of its performance for the financial year ended on that date; and ii) Complying with Australian Accounting Standards – Reduced Disclosure Requirements (including the Australian Accounting Interpretations) and the Corporations Regulations 2001; and b There are reasonable grounds to believe that The Speech Pathology Association of Australia Ltd will be able to pay its debts as and when they become due and payable.

2015 $

2014 $

Betty Usher Lecture Fund Opening Balance

65,927 74,678 1,853 2,561 (1,100) (11,312) 66,680 65,927

Interest Income Funding Support Closing Balance Murie Pollen Fund Opening Balance Interest Income Funding Support Closing Balance

32,664 31,581

1,011

1,397

Signed in accordance with a resolution of the Directors:

(20,000)

-

13,675 32,978

Nadia Verrell Scholarship Opening Balance

5,000 5,000

5,000 5,000

Deposit

Funding Support Closing Balance

(5,000)

(5,000)

5,000

5,000

President Gaenor Dixon

Vice President Operations

Balances for the Betty Usher Fund, Nadia Verrall Scholarship and Murie Pollon Fund are shown in the balance sheet as part of the Bequests Term Deposit. Funds were merged in 2009 to be held as one term deposit account. Murie Pollen funding support includes $10,000 provided to speechBITE™ in advance for the 2016 year.

Belinda Hill (Price)

Dated the 5th day of March 2016

20 Post-reporting date events No adjusting or significant non-adjusting events have occurred between the reporting date and the date of authorisation.

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2015 ANNUAL REPORT Speech Pathology Australia