SPA Annual report 2018 FINAL. pdf

17

Reconciliation of cash flows from operating activities 2018

20 Leases 20.1 Operating leases as lessee The Company’s future minimum operating lease payments are as follows: Minimum lease payments due Within 1 year 1 to 5 years After 5 years Total $ $ $ $ 31 Dec 2018 168,788 56,814 - 225,602 31 Dec 2017 163,872 225,603 - 389,475 Lease expense during the period amounted to $163,872 (2017: $157,195) representing the minimum lease payments. The property lease commitments are non-cancellable operating leases with lease terms of five (5) years. Increases in lease commitments may occur in line with CPI or market rent reviews in accordance with the agreements. . 20.2 Operating leases as lessor The Company’s future minimum lease receipts are as follows: Minimum lease payments due Within 1 year 1 to 5 years After 5 years Total Contingent liabilities There are no contingent liabilities that have been incurred by the Company in relation to 2018 or 2017. 21 Financial risk The Company’s financial instruments consist mainly of deposits with banks, short term investments, accounts receivable and payable. The carrying amount of each category of financial instruments, measured in accordance with AASB 9: Financial Instruments, as detailed in the accounting policies to these financial statements, are as follows: Notes 2018 2017 $ $ Financial assets at amortised cost Cash and cash equivalents 7 936,164 1,739,937 Trade and other receivables 8 66,455 93,898 Financial assets 7.2 4,412,158 3,449,040 Total Financial assets 5,414,777 5,282,875 19 $ $ $ $ 31 Dec 2018 102,692 8,585 - 111,277 31 Dec 2017 96,758 111,277 - 208,035 Lease income during the period amounted to $96,758 (2017: $65,484) representing the lease receipts from the tenants.

2017

$

$

Cash flows from operating activities Net surplus/(deficit) for the period Non-cash flows in operating surplus/(deficit): • depreciation and amortisation

551,334 258,867

84,745 93,643

loss/(profit) on sales of property, plant and equipment

•

-

-

other - income tax

-

-

•

Net changes in working capital: •

change in trade and other receivables change in other assets change in trade and other payables change in other liabilities

27,442 10,950

117,575 (49,341)

• •

(149,750)

313,781

(504,434)

436,928

• • •

change in provisions

60,080 69,584

change in income tax payable/ receivable

4,914 (17,612)

Net cash from operating activities

191,906 1,116,800

18 Related parties The Company’s related parties include its Key Management Personnel and related entities. 18.1 Directors and key staff remuneration

2018 2017 $ $

Directors and key staff remuneration

209,087 225,994

Payment of remuneration of Directors represents the National President honorarium paid to their employer and remuneration of the Chief Executive Officer. 18.2 Related party transactions The Company has received membership fees from directors for the year ended 31 December 2018 totalling $4,122 (2017: $4,114). The Company paid for all directors (8) and the Chief Executive Officer to attend the national conference in May 2018 at a total cost of $4,405 (2017: $4,918). Director, Chyrisse Heine, was paid $1,800 for speaker fees for the two webinars titled “Getting ahead in audiology, auditory processing and aural rehabilitation” and “The ABC’s of CAPD”. Chyrisse Heine was also involved in a three-party collaboration successful in obtaining a Speech Pathology Australia Majority World Countries and Developing Communities Grant in 2018 to develop resources for ethical speech pathology practice in the majority world, totalling $14,900. Director, Marleen Westerveld, was paid $1,500 for speaker fees for the workshop titled “Narrative (based) intervention ” as well as $10,000 as recipient of the 2017 Queensland Registration Board Legacy Fund grant for her project titled ‘Examining the visual attention to print vs. pictures during school book reading in pre- schoolers with autism’ (taken up in 2017). Unless otherwise stated, none of the transactions incorporate special terms and conditions and no guarantees were given or received. Outstanding balances are usually settled in cash.

Other Financial liabilities

Trade and other payables

13

542,418

692,168

Total financial liabilities

542,418

692,168

Fair value movements None of the Company's financial instruments are recorded at fair value subsequent to initial recognition.

26 2018 ANNUAL REPORT Speech Pathology Australia