Annual Financial Report SCEGGS TRUST LIMITED A COMPANY LIMITED BY GUARANTEE ABN: 72 050 653 417 2019
Annual Financial Report
SCEGGS TRUST LIMITED A COMPANY LIMITED BY GUARANTEE ABN: 72 050 653 417
2019
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CONTENTS
PAGE
Chair's Report 3
Directors' Report 7
Statement of profit or loss and other comprehensive income 10
Statement of changes in equity 10
Statement of financial position 11
Statement of cash flows 11
Notes to the financial statements 12
Directors' declaration 16
Declaration by the principal officer in respect of fundraising appeals 17
Independent audit report 18
Lead auditor's independence declaration 22
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CHAIR’S REPORT From the Chair of the SCEGGS Trust
As the Chair of the SCEGGS Trust Limited and on behalf of the Board of Directors, I am pleased to present the
2019 Annual Report. The Trust is the fundraising arm of the School and its efforts would not be possible without
the continued support of our donors and our community. Together we share an ongoing commitment to the
education of girls at SCEGGS Darlinghurst. This report outlines these efforts and our fundraising achievements
for 2019.
On behalf of the Trust, I thank the entire community for their work over the past year. The SCEGGS Trust is
fortunate to have so many members of the community committed to our fundraising efforts. From the Parents’
and Friends’ Association and the Old Girls’ Union, to the many dedicated past, current and future parents, friends
of SCEGGS and Old Girls, every contribution is truly valued and ensures that SCEGGS can continue to provide the
best possible education for current and future girls.
During 2019 we continued to pursue the goals outlined in the School’s strategic plan, Our Path Ahead.
Specifically, these aims include raising funds for both the expansion of the School’s means‐tested Scholarship
Program and supporting the development of Stage 1 of the School’s new Building Masterplan, the
redevelopment of Wilkinson House.
I’m delighted to share with you that the Trust raised over $900K from all fundraising activities during 2019. Of
the total raised, just over $310K was directed to the SCEGGS Scholarship Fund and over $580K to the Trust’s
Building Fund. Donations to both Funds, no matter the size, had an enormous impact in 2019, and the Trust is
profoundly grateful for every donation received from every donor.
In addition to the above very generous donations, the Trust received forward pledges of $1.6 million over the
next five years in support of our two priority programs previously mentioned.
2019 donations to the Scholarship Fund enabled our means‐tested Scholarship Program to provide opportunities
to those girls who would not otherwise be able to access a SCEGGS education. SCEGGS Darlinghurst is an
inclusive, diverse and accepting community, and the expansion of the Program underlines the strong SCEGGS
tradition of including girls and families from all backgrounds. Ultimately, it is the Trust’s long‐term goal to see
10% of students assisted in some way by a full or partial scholarship. In particular, the Trust is focused on raising
funds to ensure the School expands its indigenous scholarship program into the Primary School. The generosity
of our community has enabled $10 million to be raised over the past 13 years in support of our Scholarship
Program. However, to reach our long‐term goal, a further $10 million is needed. In 2020 and beyond, the growth
of the Scholarship Fund will continue to be an ongoing focus of the Trust.
Since its inception in 2017, the Diana Bowman Scholarship has been supporting a means‐tested scholarship.
Named in honour of a previous Head of School, over $39K weas received in 2019 towards this scholarship, the
overwhelming majority of which was donated by our Old Girls. We thank all who have contributed towards this
and other scholarships for their continued support.
Donations to the Building Fund helped the School to continue to fund the Development Application of the
School’s new and exciting Building Masterplan. The Masterplan outlines a 30‐year staged approach, with the
objective to develop highly functional, flexible and inspiring spaces that are conducive to the School’s needs.
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The first stage in this Masterplan is to undertake a comprehensive redevelopment of Wilkinson House. With
the Development Application already submitted, the Trust is now working with the entire SCEGGS community
to raise the $10 million needed for the benefit of current and future SCEGGS girls.
On behalf of the Trust, I thank every donor who has supported the Trust’s fundraising initiatives in 2019. A list
of every donor who has elected to be recognised is contained within this report. I extend my deep gratitude to
all donors listed and those who have elected to give with anonymity.
I am also extremely grateful for the many Barham Fellows, being those members of the SCEGGS family who have
generously indicated that they have included a gift to the School in their will. Your actions now will benefit
generations of SCEGGS girls.
While the vast majority of the monies raised go directly to each Fund, the full amounts contributed are reflected
in the SCEGGS Darlinghurst Limited’s accounts, and not in the Trusts accounts, as set out in this Financial Report.
In 2019, the Trust continued to raise funds and awareness of our current and long‐term goals through various
campaigns and events. In March, the Trust Board, together with the SCEGGS Board and the School’s leadership
team, warmly welcomed over eighty new parents into the SCEGGS community at the New Parent Dinner. In
November, Old Girls were invited to a special matinee performance of the Saving SCEGGS production, supported
by the Trust.
I also wish to thank the Parents’ and Friends’ Association for their donation from the Fabulous Festival on Forbes
event. With its green focus, this biannual event hosted food, vintage clothing, flowers and book stalls. We wish
to thank all those who gave of their time, skills, and financial support. Through your collective efforts the Trust
received $125K that has been allocated towards the redevelopment of Wilkinson House.
Finally, I would like to thank the dedicated members of the Trust Board for their ongoing hard work and
commitment to SCEGGS. It was wonderful to welcome three new Board Members: Stuart Comino, Natalie
Meyenn, and Stephen Turner. I also acknowledge retiring Trust Board Member Michael Jamieson. He has been
an invaluable member of the Trust Board and his wisdom and counsel over his ten years of service will be greatly
missed.
I look forward to continuing the Trust’s work in 2020, as the School celebrates its 125th anniversary. I sincerely
hope that you will support the work of the Trust for the ultimate benefit of generations of SCEGGS girls.
I encourage any member of the SCEGGS community to contact me if they would like more information on the
Trust's work or to share any thoughts and comments on the Trust’s activities.
Michael Kotowicz
Chair, The SCEGGS Trust
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Thank you to everyone who gave to the Shining Light Program in 2019 – your gifts make an enormous difference.
Mrs Deborah Aitken
Mrs Kelly Akers
Ms Patty Akopiantz and Mr Justin Punch
Ms Jenny Allum and Mr Terry Gagen
Dr Leonie Armstrong
Dr Nagi and Dr Joanna Assaad
Ms Daisy Bahen
Barbara Alice Trust
Ms Theresa Baw
Mrs Janet Bell
Miss Barbara Benjamin
Ms Christy Boyce and Mr Stephen Roberts
Mrs Catherine and Dr Phillip Brenner
Mrs June Brewer
Ms Elizabeth Butcher AM
Reverend Judith Caldwell
Mrs Margaret Carr
Miss Katherine Cassim
Miss Gabrielle Clara
Mrs Marian Clarke
Mrs Jennifer Clift
Mrs Louise Cluff
Mr Richard and Mrs Anne Cogswell
Mr Stuart Comino
Mr George and Mrs Claudine Cooney
Dr Lucy Crowley
Ms Elizabeth Cumming
Ms Rhonda Daniels
Miss Kerry Davis
Mrs Deanna Davis
Mr Angus and Mrs Nikki Dawson
Mr Edward Dawson‐Damer and Mrs Joanne
Grant
Mr Grant and Ms Katherine Dixon
Miss Wendy Dodd
Mrs Elizabeth Efinger
Mr Ken and Mrs Michelle Emeleus
Mrs Beverley Everett‐McQueen
Miss Kirsten Ford
Ms Eloise Ford
Mr Andrew Gallagher
Mrs Jean Gavin
Mrs Jennifer Hammond
Mr Campbell Hanan
Dr Amanda Henry
Ms Sheila and Mr Noel Hutley
Ms Margaret Ishikawa
Ms Diane Jackson
Mrs Linda and Mr Michael Jaku
Mrs Anne Judd
Mrs Michelle Kadi
Mrs Victoria Kalocsay
Ms Sarah Kearney
Ms Philippa King and Mr Cameron Cheetham
Mrs Julie King
Mr Michael Kotowicz
Mr David Krawitz and Ms Bernadette
Brennan
Mr Richard Kuo and Ms Samantha Meers AO
Miss Janet Lean
Mrs Tina and Mr Robert Lee
Mr David and Mrs Dana Lewis
Mrs Beverley Lewis
Ms Amanda Lintott and Mr Jason Downing
Mrs Jennifer Maffey
Mrs Annabelle Malmoux
Mrs Joan Mara
Mr Simon and Mrs Samantha Masnick
Miss Kathleen McCredie
Ms Julie McCrossin AM
Mr Paul McGrath
Mrs Cita Mieog
Mrs Norii and Mr Yukihiro Migita
Mr Ian Narev and Ms Frances Allan
Mr Nicholas Newton and Ms Jacqueline
Brown
Miss Helen Nickson
Mrs Shirley Nield
Mr David and Mrs Kate O'Loughlin
Mr Paul and Mrs Cathie Oppenheim
Mr Morgan and Mrs Bree‐annan Parker
Mrs Patricia Pearce
Mr Scott Perkins and Mrs Yael Heynold
Dr Justin and Mrs Jacqueline Playfair
Miss Wendy Poulton
Mr Kevin Powell and Ms Catriona Deans
Mrs Greeba Pritchard
Mr Arthur Pulford
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Mr Joseph Herschel
Mr Peter and Mrs Judith Hicks
Mr Fraser Hopkins
Ms Robyn Howell
Mr Diggory and Ms Katherine Howitt
Ms Clarice Hughes
Ms Tamsin Hughes
Ms Lois Sharp
Dr Ruth Shatford AM
Ms Jessica Singer
Mrs Lynette and Mr John Skipper
Mrs Carolyn Smith
Ms Anne and Dr Stephen Steigrad
Mr Keith Stevenson
Mrs Sarah and Mr Rhett Stuart‐Jones
Mrs Jane and Mr Anthony Sunman
Mr John and Mrs Amber Symond AM
Ms Kay Temple
Miss Laura Tennant
Mr Andrew and Mrs Ciara Rayment
Mrs Anne Robinson
Mrs Gillian Rozenberg
Ms Carol Saunders
SCEGGS Parents and Friends
Mr Ronald and Mrs Melissa Schaffer
Mrs Juliet Schmidt
Mr David Scott
Mrs Helen Thornton
Mrs Anne Titterton
Mr Stephen and Mrs Phi Phi Turner
Dr Sanjyot Vagholkar
Ms Francis Walsh
Ms Sarah Walters
Mrs Ellen Ward
Mrs Sarah and Reverend Paul Weaver
Mr Andrew and Mrs Alice Wilson
Mrs Diane and Mr Tony Winton
Ms Gillian Wood
Ms Susan Zipfinger and Mr Peter Andersen
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A COMPAN Y LIM ITE D BY GUAR AN TE E
DIRECTOR’S REPORT ABN 72 050 653 417
For the year ended 31 December 2019
The directors present their report together with the financial report of The SCEGGS Trust Limited (“The Trust”) for the year ended 31 December 2019 and the auditor’s report thereon.
1. Directors
The Directors of the Fund at any time during the end of the financial year are:
Name and qualifications Experience, special responsibilities and term of office Jennifer Gail ALLUM BSc, MA, DipEd, D. Litt, FACE
37 years Educator Head of School at SCEGGS since January 1996 Appointed: 1 January 1996
Christina Mary Stewart BOYCE B.Econ, MBA (Kellogg), GAICD
25 years Consultant and Non‐Executive Director Appointed: 28 May 2018
Stuart Michael COMINO B.Com, EMBA, CA, MAICD
33 years Finance Executive, Accountant and Non‐ Executive Director Appointed: 24 April 2019
George COONEY BSc, M Fin
15 years Investment Management Appointed: 24 May 2016
Katherine Jane DIXON BA (Hons), LLB
7 years professional conduct and complaints and 20 years Solicitor Appointed: 6 March 2013
Peter Jeremy HICKS BTP, MTEC, FAICD
31 years Senior Executive Appointed: 11 August 2015
Philippa Jane KING B.Econ, LLB, MA (Int. Relations)
23 years, Public Servant – Diplomat Appointed: 4 May 2018
Michael David KOTOWICZ BA (Econ&Pol Sci), MAICD
32 years’ experience in Investments, Advisory and Investor Relations Appointed: 13 December 2016
David Marc KRAWITZ MBA Fin, BA Psyc
25 years’ experience in Senior Management and Consulting Appointed: 10 July 2018
Natalie Jane MEYENN BA (Hons), MPP (Harvard Kennedy), Harvard AMP
25 years’ experience in Private Equity and Finance Appointed: 29 April 2019
Daphne Ruth SHATFORD AM JP, MA., DipEd., D.de I’U, FACE, MACEA, FRSA
Educator for over 32 years Appointed: 24 March 2010 as Alternate Director
Stephen John TURNER B.Com, ACA
30 years as a Company Director Appointed: 11 March 2019
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For the year ended 31 December 2019
2. Directors' meetings The number of directors’ meetings attended by each of the directors of the Fund during the financial year are:
Director Board meetings
Attended/held*
Jenny Allum 6/7 Christy Boyce 6/7 Stuart Comino 4/5* George Cooney 5/7 Kate Dixon 7/7 Michael Jamieson 5/7 Philippa King 6/7 Michael Kotowicz 7/7 David Krawitz 5/7
Natalie Meyenn 5/5* Ruth Shatford 6/7 Stephen Turner 6/6* Peter Hicks 3/7**
* Reflects the number of meetings held during the time the director held office during the period ** due to constraints on the time of the Chair of the SCEGGS Board, Ruth Shatford attended the Trust Board Meeting on behalf of the School Board when the Chair was unavailable.
The Board of Directors of the Trust may consist of: ● up to 6 members of the Trust appointed by the members ● 4 members of the Trust appointed by the Board of SCEGGS Darlinghurst Limited ● the Chair of SCEGGS Darlinghurst Limited; and ● the Head of School
3. Company secretary Ms Daisy Bahen was appointed to the position of Company Secretary on 29 October 2012. Ms Bahen, BMktgPR, served as the Director of Development at SCEGGS Darlinghurst until commencing maternity leave in January 2020. Ms Bahen resigned as Company Secretary with effect from 10 December 2019.
Mr Joseph Herschel was appointed to the position of Company Secretary on 10 December 2019. Mr Herschel, BEcon, GAICD, EMFIA, was appointed to the position of Acting Director of Development at SCEGGS Darlinghurst in January 2020 to cover Ms Bahen's maternity leave vacancy.
4. Objectives and strategy
The primary objective of the Trust during the course of the financial year was to provide financial and other assistance to SCEGGS Darlinghurst, Darlinghurst, NSW (the “School”) to assist in attaining the vision for the School as articulated by the Board of Directors of SCEGGS Darlinghurst Limited and without limiting this objective, to: ● maintain the School’s current excellence in education; ● continue the School’s capital development; and ● provide a financial base to support the School’s independence.
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For the year ended 31 December 2019
5. Principal activities The Trust was established in February 1991, along with the Trust’s Building, Library and Education Funds to receive donations from the SCEGGS community.
The Trust is a public company limited by guarantee established under the Corporations Act 2001. The Trust is a registered charity with the Australian Charities and Not-for-profit Commission.
The Trust operates in New South Wales and holds fundraising licence numbered 15048, issued under the Charitable Fundraising Act 1991 (NSW).
The Trust operates the SCEGGS Trust Building Fund that has been endorsed as a Deductible Gift Recipient (Item 1) by the Australian Taxation Office.
During the year the principal activities of the Trust were to provide the resources through fundraising and development activities to assist SCEGGS Darlinghurst to achieve its vision. Such activities included appeals for buildings and facilities, means-tested scholarships, library resources, and campaigns for bequests, endowment funds and corporate supporters. The Trust achieves its activities via both friend-raising and fundraising.
There were no significant changes in the nature of the activities of the Trust during the year.
6. Membership Each member of the Trust undertakes to contribute to the assets of the Trust in the event of it being wound up, while he/she is a member, or within one year after he/she ceases to be a member, for payment of the debts and liabilities of the Company, charges and expenses of winding up and for the adjustment of the rights of the contributors among themselves such amount as may be required not exceeding Five dollars ($5.00).
As at 31 December 2019 there were 209 members (2018: 223). The total amount that members of the Company are liable to contribute if the Trust is wound up is $1,045.
7. Lead auditor’s independence declaration
The Lead auditor’s independence declaration is set out on page 19 and forms part of the Directors’ report for financial period 2019.
This report is made with a resolution of the Directors:
Director Director
Dated 8 April 2020
Jenny AllumMichael Kotowicz
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STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE
INCOME For the year ended 31 December 2019
Note 2019
$ 2018
$ Revenue – donations 7(b) 613,209 114,150 Interest received 1,279 444 Total income 614,488 114,594
Donations to SCEGGS Darlinghurst Limited 7(c) (450,000) (100,000)
Bank charges 7(c) (2,370) (2,222) Surplus for the year 162,118 12,372
Total comprehensive income for the year 162,118 12,372
STATEMENT OF CHANGES IN EQUITY For the year ended 31 December 2019
2019 $
2018 $
General fund at 1 January 16,706 4,334 Surplus for the year 162,118 12,372
General fund at 31 December 178,824 16,706
The statement of comprehensive Income and Statement of changes in equity are to be read in conjunction with the notes to the financial statements set out on pages 12 to 15.
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STATEMENT OF FINANCIAL POSITION For the year ended 31 December 2019
ABN 72 050 653 417
Note 2019
$ 2018
$ Assets
Cash and cash equivalents Receivables
3 4
53,824 125,000
16,706 -
Liabilities Total current liabilities
-
-
Net assets 178,824 16,706
Funds
General fund 8 178,824 16,706 Total funds 178,824 16,706
STATEMENT OF CASH FLOWS For the year ended 31 December 2019
2019
$ 2018
$
Cash flows from operating activities Cash receipts from donations 488,209 114,150 Cash paid in donations and charges (452,370) (102,222) Interest received 1,279 444 Net cash from operating activities 37,118 12,372
Net increase in cash and cash equivalents
37,118
12,372
Cash and cash equivalents at 1 January 16,706 4,334
Cash and cash equivalents at 31 December 53,824 16,706
The statement of financial position and statement of cash flows are to be read in conjunction with the notes to the financial statements set out on pages 12 to 15.
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NOTES TO THE FINANCIAL STATEMENT For the year ended 31 December 2019
1. Significant accounting policies
The SCEGGS Trust Limited (the “Trust”) is a company limited by guarantee and is a not for profit entity. The parent entity is SCEGGS Darlinghurst Limited.The financial report was authorised for issue by the directors on 8 April 2020.
(a) Statement of complianceThe financial report is a general purpose financial report which has been prepared in accordance with AustralianAccounting Standards (“AASBs”) – Reduced Disclosure Requirements (“AASB RDRs”) adopted by the AustralianAccounting Standards Board (AASB) and the Australian Charities and Not-for-profits Commission Act 2012 .
(b) Basis of preparationThe financial report is presented in Australian dollars. The financial report is prepared on the historical cost basis.
The preparation of financial statements in conformity with AASBs requires management to make judgements,estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, incomeand expenses. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates arerecognised in the period in which the estimate is revised if the revision affects only that period or in the period of therevision and future periods if the revision affects both current and future periods.
(c) Cash and cash equivalentsCash and cash equivalents comprise cash balances and call deposits.
(d) Revenue – policy from 1 December 2019 to 31 December 2019
(i) DonationsDonations are recognised as revenue when the Trust gains control of the contribution or the right to receive thecontribution.
(ii) Interest incomeInterest income is recognised as it accrues in the statement of comprehensive income, using the effective interestmethod.
(e) Revenue - policy for periods beginning 1 January 2019
(i) AASB 15 Revenue from contracts with customersThis standard replaces AASB 11 Construction Contracts and AASB 118 Revenue.
The standard contains a single model that applies to contracts with customers and two approaches to recognising revenue: at a point in time or over time. The model features a contract-based five-step analysis of transactions to determine whether, how much and when revenue is recognised. SCEGGS Trust Limited has initially applied AASB 15, including any consequential amendment to other standards, from 1 January 2019. The adoption of this standard did not have a significant impact on the entity’s financial statements.
(ii) Revenue recognition policy for revenue streams which are either not enforceable or do not havesufficiently specific performance obligations
AASB 1058 Income for Not-for-Profit EntitiesAASB 1058 introduce major changes to the income recognition by public and private sector not-for-profit (NFP)entities. Rather than accounting for all contribution transactions under AASB 1004 Contributions, NFPs will nowneed to determine whether a transaction is a genuine donation (accounted for under AASB 1058) or a contract witha customer (accounted for under AASB 15).Where transactions do not meet the requirements of AASB 15 as noted above the NFP will need to assess if thetransactions should be accounted for under AASB 1058. AASB 1058 establishes principles for Not-for-Profitentities, which will more closely reflect the economic reality of transactions that are not contracts with customers.
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NOTES TO THE FINANCIAL STATEMENT - CONTINUED For the year ended 31 December 2019
(f) Income tax No income tax is provided for as the Trust has been endorsed by the Australian Taxation Office as an income tax- exempt charity entity.
2. Auditor's remuneration
The auditor’s remuneration is paid by SCEGGS Darlinghurst Limited.
3. Cash and cash equivalents
2019 $
2018 $
Bank balances Trust Building Fund 53,469 16,354 Education Fund 355 352
53,824 16,706
4. Receivables
Receivable balances 2019
$ 2018
$
Intercompany receivables 125,000 -
125,000 -
5. Contingencies
The directors are not aware of any contingent liabilities or contingent assets where the probability of future payments
or receipts is not considered remote.
6. Key management personnel disclosures
The names of each person holding the position of Director of The Trust during the financial year are:
J Allum, C Boyce, S Comino, G Cooney, K Dixon, M Jamieson, D Krawitz, N Meyenn, R Shatford, S Turner and P
Hicks.
No Directors received or are due to receive any remuneration from the Trust.
Other related party transactions
Expenses amounting to $20,906 (2018: $54,775) were paid by SCEGGS Darlinghurst Limited on behalf of the Trust, which included, New Parent Dinner $10,414 (2018: $9,846), catering $10,356 (2018: $5,871) and other expenses of $136 (2018: $2,131).
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NOTES TO THE FINANCIAL STATEMENT - CONTINUED For the year ended 31 December 2019
7. Information required under the Charitable Fundraising (NSW) Act 1991
(a) Fundraising appeals
Fundraising appeals conducted during the financial year included: ● Direct soliciting (face to face, letter, phone) ● Follow up of pledges ● Wine Auction ● Bequest Program ● AISUSA Foundation
The purpose of the above functions was to raise funds for SCEGGS Darlinghurst, to follow up on pledges made during the Capital Campaign, and to raise funds for the Scholarship Fund.
(b) Results of fundraising appeals
2019 $
2018 $
Calling Program 593,209 114,150 Bequest 20,000 -Gross proceeds from fundraising appeals 613,209 114,150 Net surplus obtained from Fundraising appeals 613,209 114,150
Direct costs associated with fundraising appeals in both 2019 and 2018 were paid by SCEGGS Darlinghurst Limited.
(c) Application of net surplus from fundraising appeals
2019 $
2018 $
Interest received 1,279 444 Donations in the year 613,209 114,150 Gross proceeds from fundraising 614,488 114,594
Administrative expenses (2,370) (2,222) Donations to SCEGGS Darlinghurst Limited (450,000) (100,000) Net surplus obtained from fundraising appeals 162,118 12,372
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NOTES TO THE FINANCIAL STATEMENT - CONTINUED For the year ended 31 December 2019
(d) Comparison of certain monetary figures and percentages
2019 % 2018 %
Gross income from fundraising* 613,209 114,150
Net surplus from fundraising/ 613,209 100 114,150 100
Gross income from fundraising 613,209 114,150
Total cost of services (distributions)/ 450,000 99 100,000 98 . Total expenditure 452,379 102,222
Total cost of services (distributions)/ 450,000 92 100,000 87 Total income received 614,488 114,594
* The total cost of fundraising was paid by SCEGGS Darlinghurst Limited for 2019 and 2018 therefore the ratio of the cost of fundraising to the gross fundraising income is not applicable.
8. Funds
General Fund
The general fund represents the funds that are not designated for particular purposes.
9. Subsequent events
There have been no events subsequent to balance date which would have a material effect on the Trust’s financial statements at 31 December 2019.
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DIRECTORS' DECLARATIONFor the year ended 31 December 2019
In the opinion of the directors of The SCEGGS Trust Limited ("the Trust"):
(a) the financial statements and notes, set out on pages 12 to 15, are in accordance with the
Australian Charities and Not-for-profits Commission Act 2012 , including:
(i) giving a true and fair view of the financial position of the Company as at 31 December 2019 and of its performance, as represented by the results of its operations and its cash flows, for the year ended on that date; and
(ii) complying with Australian Accounting Standards - Reduced Disclosure Requirements and the
Australian Charities and Not-for-profits Commission Regulation 2013; and
(b) the financial report has been properly drawn up, and the associated records have been properly
kept for the period, in accordance with the Charitable Fundraising (NSW) Act 1991 and Regulations;
(c) money received as a result of fundraising appeals conducted during the period has been
properly accounted for and applied in accordance with the Charitable Fundraising (NSW) Act 1991 and Regulations; and
(d) there are reasonable grounds to believe that the Company will be able to pay its debts as and
when they become due and payable.
This report is made with a resolution of the Directors:
Director Director Dated 8 April 2020
Jenny AllumMichael Kotowicz
For the year ended 31 December 2019
I, Jenny Allum, Principal Officer of The SCEGGS Trust Limited, declare that in my opinion:
(a) the financial report gives a true and fair view of all income and expenditure of The SCEGGS TrustLimited with respect to fundraising appeal activities for the financial year ended 31 December 2019;
(b) the statement of financial position gives a true and fair view of the state of affairs with respect tofundraising appeal activities as at 31 December 2019;
(c) the provisions of the Charitable Fundraising (NSW) Act 1991 and Regulations and the conditionsattached to the authority have been complied with for the financial period ended 31 December2019; and
(d) the internal controls exercised by The SCEGGS Trust Limited are appropriate and effective inaccounting for all income received and applied from any fundraising appeals, although it is notalways practicable for the Company to establish controls over the collection of donations prior toentry into its financial records.
Jenny Allum Principal Officer
Dated 8 April 2020
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DECLARATION BY THE PRINCIPAL OFFICE IN RESPECT OF FUND RAISING APPEALS