Statement of Financial Performance: Year Ending 30 June 2020

Income	2020	2019
Projects	1 148,392	156,424
Operational Grants & Donations	2 125,974	97,837
Landowner Contributions	2,695	7,174
Office Grant	14,250	14,685
Wage Subsidy	52,186	–
Interest	1,574	2,198
TOTAL INCOME	345,062	278,318

Expenses	2020	2019
Direct Labour – Control	165,591	162,039
Direct Labour – Reporting & Liaison	21,260	19,246
Materials	11,797	13,544
Mileage	6,927	8,309
Training	3,337	885
Field Expenses	11,197	4,759
Other Unallocated Wages	58,556	32,110
Covid-19 Wage Subsidy	52,186	–
Rent	4,693	4,693
Insurance	2,014	1,356
Printing, Stationery & Postage	1,917	1,589
Computer	2,885	1,633
Accounting	6,287	6,248
Legal 5	(494)	10,023
Travel & Accommodation	1,273	511
Other Expenses	3,107	2,708
Depreciation	5,089	2,751

TOTAL EXPENSES	357,621	272,404

SURPLUS / (LOSS)	( 12,561 )	5,913

Balance Sheet at 30 June 2020

Assets	2020	2019
Current Assets
Bank Accounts
PDVT NBS Bank Account	62,452	190,746
Other Current Assets
Trade Debtors	89,029	25,111
Work in Progress 3	–	6,989
Prepayments	–	3,795
Inventory	3,517	1,810
Total Current Assets	154,998	228,451
Fixed Assets
Furniture	128	152
Computers & Software	8,789	923
Vehicles	13,187	–
Field Equipment	5,148	1,308
Total Fixed Assets	27,252	2,383

Total Assets	182,250	230,646

Liabilities
Current Liabilities
GST	9,261	6,630
PAYE	9,625	3,117
Trade Creditors	3,128	2,391
Income in Advance	4 118,525	148,515
Expense Accruals	1,250	8,500
Holiday Pay Owed	9,507	2,918
Provision for Legal Claim 5	–	15,000
Total Liabilities	151,296	187,131

Net Assets	30,954	43,515

Opening Equity	43,515	37,602
Current Year’s Loss	(12,561)	5,913

Total Equity	30,954	43,515

Notes to the Financial Statements

For the year ended 30 June 2020

Projects consist of contracted work that generates surplus.
Grants are from various funders that do not involve surplus.
Work in progress is now capitalised as PDVET’s new geospatial database system.
Income in advance involves various grants such as the Lottery grant, received in advance to be used for following financial years.
Legal expenses show a small negative amount consequent upon us receiving a settlement (previously reported) in our favour from the claimant. The unrequired provision for potential loss was also reversed, so that in combination with the settlement we were left with a small net gain.

The Trust recorded a deficit of $12,561 in the financial year due largely to the Covid-19 lockdown which prevented contract and other work between March and May that could have created surplus margins.

Fortunately, the Government’s wage subsidy scheme meant that we were able to retain staff and pay them amounts that they would otherwise have earned.

We received $35k from Rata Foundation to be used to assist with office overhead expenses and field work. We elected to contribute $12k toward overhead expenses and $23k for control work.

During the year we purchased a utility vehicle which greatly reduced the amount of private vehicle usage. This was an important step towards the future development of the Trust.