Speech Pathology Australia Annual Report 2020

18

Reconciliation of cash flows from operating activities

21 Financial risk management The Company’s financial instruments consist mainly of deposits with banks, short term investments, accounts receivable and payable. The carrying amount of each category of financial instruments, measured in accordance with AASB 9: Financial Instruments, as detailed in the accounting policies to these financial statements, are as follows:

2020 2019 $ $

Cash flows from operating activities Net surplus/(deficit) for the period Non-cash flows in operating surplus/(deficit): •

328,104 (36,550)

depreciation and amortisation 333,985 301,649

Notes

2020

2019

Net changes in working capital: •

$

$

change in trade and other receivables change in other assets change in trade and other payables change in other liabilities

Financial assets at amortised cost Cash and cash equivalents

28,683 (8,351)

(215,526)

(97,821)

• •

7 4,558,567 4,597,607

Trade and other receivables 8

46,123

74,806

10,615 52,708

Financial assets

7.2 1,426,150 687,871

390,590 (52,460) 102,152 34,726

• • •

Total Financial assets

6,030,840 5,360,284

change in provisions

Other Financial liabilities Trade and other payables Total financial liabilities

change in income tax payable/ receivable

14 685,490 606,332

26,713 (30,366)

685,490 606,332

Net cash from operating activities

1,005,316 163,535

18.1

Non-cash investing and financing activities

Fair value movements None of the Company’s financial instruments are recorded at fair value subsequent to initial recognition, with the exception of the investment portfolio which is recorded at its fair value. As the amount is still held as cash as at 31 December 2020 it is recorded at its fair value. Commitments The Company has no other commitments to note as at 31 December 2020 (2019: Nil) other than its lease contracts. 22

2020 2019

Additions to the right-of-use assets

54,229

-

19 Related parties The Company’s related parties include its Key Management Personnel and related entities. 19.1 Directors and key staff remuneration

23

Bequests

2020 2019 $ $ 225,477 248,948

2020

2019

Directors and key staff remuneration

$

$

Betty Usher Lecture Fund Opening balance

55,470 53,714

Payment of remuneration of Directors and key staff represents the National President honorarium and remuneration of the Chief Executive Officer. Related party transactions The Company has received membership fees from directors for the year ended 31 December 2020 totalling $2,672 (2019: $4,914). The national conference in 2020 was cancelled due to COVID. In 2019, the Company paid for all directors (8) and the Chief Executive Officer to attend the national conference in June 2019 at a total cost of $5,207. Unless otherwise stated, none of the transactions incorporate special terms and conditions and no guarantees were given or received. Outstanding balances are usually settled in cash. 19.2

Interest income Funding support Closing Balance

824

1,756

-

-

56,294 55,470

Nadia Verrell Scholarship Opening balance

5,000 5,000*

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

Deposit

Funding support Closing balance

-

10,000

Balances for the Betty Usher Fund and Nadia Verrell Scholarship are shown in the balance sheet as part of the Financial Assets. Funds were merged in 2009 to be held as one term deposit account. * Accrued deposit will be remitted on the next maturity of the Betty Usher term deposit.

20 Contingent liabilities There are no contingent liabilities that have been incurred by the Company in relation to 2020 or 2019.

34 2020 ANNUAL REPORT Speech Pathology Australia