Sigh... at the end of the financial year is the headache of tying up all the administrative and financial loose ends that come with running a non-profit. Thankfully, our ensemble is small... and so the reporting requirements are quite relaxed in comparison to non-profits with larger turnovers and memberships.
We have kept our membership to a manageable group of family and friends, and that has made for really easy scheduling of AGMs and that sort of thing during family gatherings. A very relaxed approach indeed... but minutes and reports still need to be drafted and presented. At least, the copies need to be readily accessible in case we are audited... which apparently, is incredibly unlikely... but I do like to keep everything tidy and in good order... I'm that sort of person, plus... it makes for less chaos later on.
This is our first full year of running, and so we don't have that much to report... on the AGM front, we needed to vote on the election of committee members to run the whole thing and also the beneficiary organisation in case we wind up, and then a special AGM
to approve the adoption of the new model rules that came into effect about 6 months after we were formed.
Then, we have had also three committee meetings... the minimum required... during which, the first one pretty much delegated most of the day-to-day running of the organisation to my wife and I... otherwise known as the artistic committee... and we just talk things out at home, and then we present a report of our activities and plans to the running committee... who then approve, and then it later gets shunted to the AGM. Lots and lots of busywork... and I guess it makes sense from the governance and accountability point of view... but it is still quite a lot of work and formality for such a tiny thing. Plus, we are trying to do it all properly, whilst there are much larger organisation that do a pretty half-arsed job of it!
Thankfully, I have kept pretty detailed records of our financial stuff as well... For an ensemble with a maximum of about 10-15 concerts and projects per year (which is a crazy high amount for a young ensemble...), it is pretty easy to keep track of finances. The expenses and income cluster tightly around each concert... and I make sure to wrap up each one in the week that the are finished... again, habit... and the unwillingness to let chaos overwhelm me!
I think that the end of year reporting and finances will be pretty straightforward... a matter of days, and then to get someone to attest to the finance numbers... thankfully, again due to our small size and turnover, we don't need specialist attestation... just someone who isn't on the main committee and that wasn't involved in compiling the financial report is good enough! I think it should all be wrapped up within the week after the end of the financial year... I've started compiling many things already.
Tax wise, we are clear... no need to do that, as we are self-assessed to be exempt as per the Australian Tax Office guidelines!
... and then, after that, is tackling the nightmare that is my wife and my personal finances for tax reporting... not keen on that. But we have to do that, and we have a three month deadline starting from the first of July!
I can also be found cross-posting at:
Hive
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