Working Smarter With Community Management Solutions

It has definitely been a busy year for the team here at CMSolutions. We have continued to service our members with employee performance matters, workplace investigations, recruitment service, governance assistance, enterprise agreements, and much more.

Our friendly, and highly experienced finance team have been looking after the bookkeeping, payroll needs for many of our members and are now preparing for audit season which is almost upon us. Check out the article below “Tips to get ready for your Audit!” to assist you with your end of year audit.
We would like to congratulate all this year’s committee members and managers for all their hard work this year. We look forward to working with some of you again in 2020 and welcoming on board many new committee members next year.

Also a big thank you to all our member benefit supporters and newsletter advertisers. We greatly appreciate your support have enjoyed working with you throughout the year.

CMSolutions office will have limited staff available from the 25th December to 3rd January 2020.

From all the team and Board of Management at CMSolutions, we wish you a safe and Merry Christmas and a Happy New Year.

This Month...

  • Tips to get ready for your Audit!
  • Handover Checklist for the Outgoing Executive
  • Christmas Public Holidays
  • P&Cs and Public Holidays
  • Giving Staff Bonus Leave
  • Your Opinion Matters

Tips to get ready for your Audit!

The Financial statements of the majority of associations must be audited every financial year to ensure that their books and records are being kept in accordance with all relevant legislation AND ALSO to ensure that the accounts are complete and represent a true and fair view of the financial position of the association.

REMEMBER: Audited financial statements must be presented at your Annual General Meeting. If there is no audit report there can be no AGM.

The following is a list of things to do before you give your accounts to the auditor that will help ensure your audit goes quickly and smoothly:
  • Have a complete set of bank statements for all your bank accounts, investments, loans and credit cards for the entire financial year. Your auditor should provide you with a Bank Confirmation which you will sign and forward directly to the bank. This allows the auditor to get a third party confirmation of the amounts recorded as cash at bank in your financial statements;
  • Have completed reconciliations for each of these bank accounts as at the last day of your financial year;
  • Ensure that all transactions have been entered into your accounting records for your financial year;
  • Prepare a detailed list of Debtors (money owing to you from customers) and Creditors (money you owe suppliers) as at the last day of your financial year. Review your list of Debtors and decide if any of them are unlikely to be collected. If so then discuss with your auditor the need to make a doubtful debt provision against these amounts;
  • Collect all cheque books, receipt books and bank deposits books used during the year;
  • Collect all invoices paid, cash count sheets, grant documentation and any other paperwork relating to income or expenses;
  • Collect all your payroll records including timesheets;
  • Update the Fixed Asset Register for any assets purchased during the year that belong to the organisation and calculate the depreciation on them for the year;
  • Perform a stock take on any inventories held and keep a record of any adjustments that were required. Tuckshop inventory should be checked to ensure that all food is still in date and uniforms and books should be reviewed to ensure they are not old versions that can no longer be sold;
  • Calculate annual leave and long service leave entitlements for your staff as at the last day of your financial year; and
  • Ensure you have a complete set of minutes (signed) for the financial year for Executive and General Meetings.
A good auditor will not only ensure that your financial statements are correct but will also review the accounting systems you have in place to identify potential weaknesses as well as opportunities to enhance them.

The auditor should also be speaking to at least one member of the committee as well as any administration or bookkeeping staff about the activities and results of the association during the year. This is a very important part of the audit process to mitigate the risk of fraud.

CMSolutions can undertake an End of Financial Year, Interim, and Accounting and Financial Compliance Audits, depending on your needs. We pride ourselves on the quality of our work we do and believe that you get real value for money and so do the members who come back year after year.

Call our finance team on 07 3852 5177 or 1300 007 110 for a quote today.

Handover Checklist for the Outgoing Executive

As the end of the year is fast approaching, outgoing committees should ensure that all their hard work is not lost. You can do this by making sure the handover process is performed correctly. Use our Handover Checklist to ensure all relevant information has been provided to the new executive committee. It is also recommended that the prospective committee member shadow the outgoing committee, attend committee meetings and work together on all tasks remaining for their term.

If you need assistance with your handover contact the CMSolutions team on 1300 007 110.

Christmas Public Holidays

The following are the declared public holidays over the Christmas and New Year period 2019-2020

All States & Territories
Tuesday, 24 December from 6pm is now classed as a public holiday
Wednesday, 25 December 2019 – Christmas Day
Thursday, 26 December 2019 – Boxing Day
Wednesday, 1st January 2020 – New Year’s Day

P&Cs and Public Holidays

For our Parents and Citizens Associations it is important to remember the following when calculating employees Annual Leave:

Permanent or Part-time “Term Time Employees” of P&Cs are entitled to receive their accrued annual leave entitlement in the December/January Period.

If their annual leave entitlement falls over the declared Public Holidays (as listed above) and the employee normally worked (during the term) on the days the Public Holidays fall (i.e. Wednesday or a Thursday) then the employees are entitled to be paid for these days at their ordinary rate of pay, in addition to their accrued annual leave.

Note: Annual Leave attracts a 17.5% leave loading.

The Parents and Citizens Associations Award – State 2016, specifically provides that the Christmas public holidays will be paid to employees who:
  • Are stood down for the school vacation; and
  • Are re-employed before the end of January the following year; and
  • Worked for two weeks prior to being stood down.
If you are unsure of what your employee’s leave entitlements are, or have any questions relating to this article, give our friendly Employment Relations Team a call – 1300 007 110

Giving Staff Bonus Leave

The employer (i.e. the Committee) can decide to give the employee additional leave (usually in the form of paid days) as a ‘thank you’ or as a Christmas present, provided that it is documented in the Committee’s minutes and it is approved by all members. All other leave entitlements will accrue on additional leave, which means that employees will receive more than the standard 20 days of annual leave (if they are working full time).

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