The Annual Report 2015

Chapter 4

Financial Overview

WWF-Australia had a year characterised by challenges in income generation, which was down 6% in total on the prior year (and 10% lower than the five-year strategic plan target), driven mainly by lower legacy and bequests income and marginal regular giving growth.

Cumulatively, income has still grown by 44% since the beginning of the current five-year plan period. Core costs including administration and fundraising were consequently tightly managed, and reduced by 3% on the prior year.

WWF-Australia was able to deliver on its commitment to conservation programs and expended $18.8 million on total conservation efforts. This was a 7% increase on the prior year and broadly in line with the five-year strategic plan, which seeks to double conservation spending to over $20 million.

The result of the above income and expenditure was that WWF-Australia recorded a deficit of $2.5 million for the year, planned and made possible by the carrying forward of a very healthy level of reserves. It is noted that the budget for the new financial year targets a return to a low deficit result and a focus on maintaining the committed supporter base.

© WWF-Aus / Holly Bradford

PricewaterhouseCoopers
Chartered Accountants
Shannon Maher
Partner – Sydney
21 October 2015

Financial Statements

Independent auditor’s report to the members of World Wide Fund for Nature Australia

The accompanying summary Financial Overview, of World Wide Fund for Nature Australia Limited, comprising the balance sheet as at 30 June 2015, the statement of comprehensive income and the statement of changes in equity for the year then ended, are derived from the audited financial report of World Wide Fund for Nature Australia for the year ended 30 June 2015. We expressed an unmodified auditor’s opinion on that financial report in our auditor’s report dated 21 October 2015.

The summary Financial Overview do not contain all the disclosures required by Australian Accounting Standards and the Australian Charities and Not-for-profits Commission Act 2012, Charitable Fundraising Act 1991 (NSW) and Charitable Fundraising Regulations 2008 (NSW) and the Australian Council for International Development Code of Conduct applied in preparation of the audited financial report of World Wide Fund for Nature Australia. Reading the summary Financial Overview, therefore, is not a substitute for reading the audited financial report of World Wide Fund for Nature Australia.

Director’s responsibility for the summary Financial Overview The Directors of the Board are responsible for the preparation of a summary of the audited financial report on the basis described in Note 1.

Auditor’s responsibility Our responsibility is to express an opinion on the summary Financial Overview based on our procedures, which were conducted in accordance with Australian Auditing Standard ASA810 Engagements to Report on Summary Financial Overview.

Auditor’s opinion In our opinion, the summary Financial Overview derived from the audited financial report of World Wide Fund for Nature Australia for the year ended 30 June 2015 are consistent in all material respects, with that audited financial report, on the basis described in Note 1.

All figures throughout this publication are in AUD.

Accreditations

WWF-Australia is fully accredited by the Department of Foreign Affairs (DFAT). WWF-Australia is a signatory to the ACFID Code of Conduct and is committed to adhering to its high standards of corporate governance, public accountability and financial management for NGOs. We are also signatories to the Fundraising Institute of Australia (FIA) code of conduct.

We welcome feedback on this report and on our operations and conduct more generally. Please send any feedback or complaints to enquiries@wwf.org.au. More information about the ACFID Code of Conduct is available from www.acfid.asn.au/code-of-conduct or by contacting ACFID on main@acfid.asn.au or 02 6285 1816. Complaints relating to alleged breaches of the Code of Conduct by any signatory agency can be made by any member of the public to the ACFID Code of Conduct Committee.

© WWF / James Morgan

During the year to 30 June 2015, WWF-Australia had no transactions in the Evangelistic, Political or Religious Proselytisation programs category.

During the year to 30 June 2015, WWF-Australia had no category of income or expenditure required to be disclosed in accordance with the ACFID Code of Conduct other shown to the right.

Statement of comprehensive income for the year ended 30 June 2015

Revenue 2015
$
2014
$
Revenue from continuing operations 27,595,671 29,385,074
Other income 373,000 459,536
Total Revenue Expenditure 27,968,671 29,844,610
Expenses from continuing operations:
Funds to overseas projects 2,222,514 1,765,642
Other overseas project costs 417,513 209,312
Domestic projects 13,082,033 12,913,564
Community education 3,075,352 2,731,760
Public fundraising costs 9,261,528 9,589,609
Impairment of investments - -
Administration 2,490,380 2,494,184
Total Expenditure 30,549,320 29,704,071
Total profit/(loss) for the year (2,580,649) 140,539
Other comprehensive income/(loss)
Items that may be reclassified to profit or loss 32,000 139,042
Items that will not be reclassified to profit or loss - -
Total Comprehensive (Loss)/Income for the year (2,548,649) 279,581
Total Comprehensive (Loss)/Income for the year attributable to members of World Wide Fund for Nature Australia (2,548,649) 279,581
Income analysis 2015

The percentage analysis above is derived by dividing the relevant type of income by the total income for the year and expressing it as a percentage.

© Jürgen Freund / WWF

Balance Sheet as at 30 June 2015

ASSETS 2015
$
2014
$
Current Assets
Cash assets 3,071,624 5,930,697
Receivables 624,857 1,150,878
Other assets 458,656 90,798
Total current Assets

Non-current Assets
4,155,137 7,172,373
Investments 3,606,815 2,945,361
Property, plant and equipment 834,764 951,005
Total Non-current Assets 4,441,579 3,896,366
Total Assets

LIABILITIES
8,596,716 11,068,739
Current Liabilities
Payables 2,214,827 2,097,220
Provisions 110,986 136,419
Total Current Liabilities 2,325,813 2,233,639
Provisions 990,084 1,005,632
Total Non-current Liabilities

Non-current Liabilities
990,084 1,005,632
Total Liabilities 3,315,897 3,239,271
Net Assets 5,280,819 7,829,468
Equity
Reserves 6,721,407 7,485,524
Accumulated surplus (1,440,588) 343,944
Total Equity 5,280,819 7,829,468

As at 30 June 2015 WWF-Australia had no category of Assets or Liability required to be disclosed in accordance with the ACFID Code of Conduct other than as shown above.

Statement of Changes in Equity for the Year Ended 30 June 2015

Swipe inside the table to scroll left and right

Retained
earnings
Reserves Total
Earmarked
funds
Investments revaluation Endowment
fund
Balance at 1 July 2014
(commencing balance)
343,944 2,765,936 303,070 4,416,518 7,829,468
Excess of expenses over revenue (2,580,649) - - - (2,580,649)
Amount transferred (to)
/ from reserves
796,117 (796,117) - - -
Investment revaluation - - 32,000 - 139,042
Balance at 30 June 2015
(year-end balance)
(1,440,588) 1,969,819 335,070 4,416,518 5,280,819

WWF-Australia has not provided a Statement of Cash Movements, as no single appeal, grant or other form of fundraising (except for the Australian Aid grant) for a designated purpose generated 10% or more of the organisation’s international aid and development revenue for the financial year.

Note 1
Extracted from Financial statement – 30 June 2015. Full Financial Overview available on request, or via download from WWF-Australia’s website www.wwf.org.au. The Summary Financial reports have been prepared in accordance with the requirements set out in the ACFID Code of Conduct. For further information on the Code please refer to the ACFID Code of Conduct Implementation Guidance available at www.acfid.asn.au.

© WWF / James Morgan

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