Financial Update and Allocation Analysis for 2019/20
This financial update provides insights into the profit and loss statement, balance sheet, and trust fund allocation and disbursement for the year 2019/20. It includes details of income, expenses, assets, liabilities, net assets, equity, and the allocation and disbursement of trust funds among Alec Red Beach DG, Parry DG, Peter DG, and others. Explore how funds were managed and the resulting net surplus or deficit.
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Presentation Transcript
Financial Update for the Year 1 July 2019 to 30thJune 2020
Ruguupyne Ruguupyne Profit and Loss Profit and Loss as at 30 as at 30th th June 2020 June 2020 Item Income Native Title Payments Notice Assessment fees Interest Income Total Income Expenses Accounting Fees TOIG Review Fees Net Trust Disbursements Total Net Profit / Item Income Amount Amount 35,926 1,052 127 37,105 Total Income 37,105 Expenses (2,640) (1,052) (32,836) (36,528) 577 Total Expenses Expenses (Loss) (36,528) 577 Net Profit / (Loss)
Ruguupyne Item Assets Cash at Bank Trade Debtors Accrued Income Ruguupyne Balance Sheet Item Assets Balance Sheet as at 30 as at 30th th June 2020 June 2020 Balance Balance 118,237 4,726 31,200 Total Assets Total Assets 154,163 154,163 Liabilities Trade Creditors Trust unallocated (funds due in 20/21) Trust Administration Trust Parry Descent Group Trust Peter Descent Group Trust Alec Red Beach Descent Group Sub Total Liabilities NET ASSETS Equity Retained Earnings Current Year (2019/20) Earnings TOTAL Liabilities 12,673 35,476 2,243 549 22,003 1,237 26,032 Sub- -Trust Total Liabilities Trust Liabilities Liabilities 26,032 74,181 79,982 74,181 79,982 NET ASSETS Equity 79,405 577 TOTAL EQUITY EQUITY 79,982 79,982
How Trust funds were allocated and disbursed in 2019/20 Year ending 30 June 2019 Year ending 30 June 2019 Admin Admin Alec Red Beach DG (713) Alec Red Beach DG Parry DG Parry DG Peter DG Peter DG Un Un- - Total Total allocated (Trust) allocated (Trust) Opening Bal - Trust 1,853 876 24,340 31,550 57,906 57,906 Distribution for year 3,155 9,465 9,465 9,465 (31,550) - Total Total Funds available Funds available 5,008 5,008 8,751 8,751 10,341 10,341 33,805 33,805 - - 57,906 57,906 Disbursements Accounting Fees (2,640) - - - - (2,640) (2,640) Trust Applications - (7,514) (7,514) (9,792) (9,792) (11,802) (11,802) - - (29,108) (29,108) Other Adjustments (125) - - (126) (126) Total Disbursements Total Disbursements (2,765) (2,765) (7,514) (7,514) (9,792) (9,792) (11,802) (11,802) - - (31,874) (31,874) Net Surplus / (Deficit) Net Surplus / (Deficit) 2,243 2,243 1,237 1,237 549 549 22,003 22,003 - - 26,032 26,032
Native Title Payments received or due June 2020 Native Title Payments received or due June 2020 Receipts accounted for during the year Receipts accounted for during the year Date Date Details 15.1 of the ILUA - home ownership lease compensation Details Amount 4,726 31,200 35,926 Amount June 2020 June 2020 Native Title Compensation for Council Acts - Clause 25.1 of the Mapoon ILUA Total Total Receipts Receipts 35,926 Trust Liabilities Account as at 01/07/2020 (available for distribution in 2020/21) Trust Liabilities Account as at 01/07/2020 (available for distribution in 2020/21) Details Details 19/20 Closing Bal 1,237 19/20 Closing Bal 20/21 Dist n 20/21 Dist n Funds Available Funds Available Alec Red Beach Descent Group (30%) 10,778 12,015 Parry Descent Group (30%) Peter Descent Group (30%) 549 10,778 10,778 11,327 32,781 22,003 Administration Budget (10%) 2,243 3,592 5,835 Total Trust Disbursements Total Trust Disbursements 26,032 26,032 35,926 35,926 61,958 61,958
