Financial Report 2022-23
The Kendall Community Op Shop Financial Report was presented at the AGM on 14th December by Treasurer Allan Phelps.
The Report provides an overview of the 

impressive achievements of the Op Shop over the past year.
 

KENDALL COMMUNITY OP-SHOP INC

FINANCIAL YEAR 2022/23

TREASURER’S REPORT

Once again the 2022/23 Financial Year has seen continued growth in sales and resultant profit levels.  To achieve this growth, we rely heavily on two major aspects of our operations: 1. Growth in good quality donations and 2. The dedicated hard work of our volunteers in preparing these donations for sale.

The Financial Year’s sales reached $282,976 an increase of 21% on our previous year and exceeding all other years. Rag Sales amounting to $3.027.  One Ten income increased to $2,746.  Inflation had a direct bearing on our Expenses increasing to 46,411 or 27%.  Again, waste removal and cleaning totalling 44% of our total expenses.  We continue to improve our workflow with the purchase of several trolleys and clothing racks to simplify the handling of donations.  A further shed was installed to store our Christmas donations, back up electrical testing equipment was also purchased. Customer flow was improved with the installation of an automated front door into our retail area.  Annual Depreciation amounted $12,267 for the financial year.  We also wrote of a few small assets amounting to $2,247.

The main achievement for myself during the 2022/23 Financial Year was the conversion of our bookkeeping from MYOB to ZERO.  This was a suggestion by our Accountant/Auditor to simplify his audit requirements.  ZERO is a much more user-friendly system and has reduced my overall workload to keep our financial records up to date.

During the 2022/23 Financial Year the OP-shop funded the following:

Sponsorship:                              $11.000

Charity Grants                           $15,500

Community Grants                   $86,588

Schools Wellbeing Grants        $27,000

 

 

Our Grant program was introduced in 2009 and we now have allocated $1,533,043 in all sectors of our program. 

The funds on hand at present total $308,409 which will give us a great pool of funds for next year’s community grants.

 

Allan Phelps

Treasurer