Annual report FINAL low res 2016

Directors’ declaration

20

Bequests

2016

2015

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 2016 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.

$

$

Betty Usher Lecture Fund Opening balance

66,680 65,927

Interest income Funding support Closing Balance Murie Pollen Fund Opening balance Interest income Funding support Closing balance

2,089 (195)

1,853 (1,100)

68,574 66,680

13,675 32,664

428

1,011

-

(20,000)

14,103 13,675

Nadia Verrell Scholarship Opening balance

5,000 5,000 (5000) 5,000

5,000 5,000 (5,000) 5,000

Signed in accordance with a resolution of the Directors:

Deposit

Funding support Closing balance

Balances for the Betty Usher Fund, Nadia Verrell Scholarship and Murie Pollen 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 in 2015 includes $10,000 provided to speechBITE™ for the 2016 year which will be deducted from the term deposit when it expires in April 2017. 21 Post-reporting date events A new tenant has signed a memorandum of understanding for leasing Bank Place with effect from 13 February 2017, this is for a three year lease. 22 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 2016, the total amount that members of the Company are liable to contribute if the Company wound up is $754,800 (2015: $692,900).

Belinda Hill (Price) Vice President of Operations

Gaenor Dixon President Dated 17 March 2017

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2016 ANNUAL REPORT Speech Pathology Australia