Treasurer Report
"...it has been another successful year for HRVic, and I would like to thank the HRVic staff and Board as well as our accounts consultants for their support and assistance throughout the year. "
This is my third year as Treasurer of Harm Reduction Victoria (HRVic), after being elected as a Board Member in 2021.
HRVic has had a sound financial year with a surplus of $94,031. The most significant expenses were Employee Expenses (salaries & on-costs) of $1,995,422. In addition to these expenses, we see expenditure on Volunteer Reimbursements of $47,303, which is an indicator of HRVic’s engagement with and valuing of the community. Lastly, there was $29,578 spent on Events & Programs and $20,980 spent on Client Support Consumables, further reflecting HRVic’s involvement in & support of our community.
This year, HRVic received $1,850,973 from the Victorian State Government (VSG) in the form of government grants. In addition to this, the Grant in Advance (GIA) income of $869,419 is primarily made up of VSG grants from previous years that were permitted to be held over and expended this fiscal year. We also received smaller but still significant pieces of income for various fee-for-service and other projects. We thank the VSG as well as the Burnet Institute, St Vincent’s Hospital and the DanceWize event promotors in particular for their support.
HRVic’s decision to invest in term deposit bonds resulted in additional (interest) income of $47,751 which supported HRVic’s Community Fund and newly established projects program.
Accumulated Funds remain steady at $900,098 for the year.
In summary, it has been another successful year for HRVic, and I would like to thank the HRVic staff and Board as well as our accounts consultants for their support and assistance throughout the year.
Warm regards,
Peter Higgs