[Linux-aus] Proposed constitutional changes: financial year

[Mary Gardiner]

Here's the diff!

 The financial year of the association is:
-* (a)    the period of time commencing on the date of incorporation of the association and ending on the following 30 June, and
-* (b)    each period of 12 months after the expiration of the previous financial year of the association, commencing on 1 July and ending on the following 30 June.
-Note: Schedule 1 of the Act provides that an association’s constitution is to address the association’s financial year.
+* (a)    the period of time commencing on 1 January 2011 and ending on 30 September 2011; and
+* (b)    each period of 12 months after the expiration of the previous financial year, commencing on 1 October and ending on the following 30 September.

Hoepfully that's fairly clear!

According to the Associations Incorporation Act 2009:

"""
"financial year", in relation to an association, means:

 (a) a period of 12 months, or such other period (whether longer or shorter than 12 months) not exceeding 18 months as the association resolves, commencing on the date of incorporation of the association, and 

 (b) each period of 12 months, or such other period (whether longer or shorter than 12 months) not exceeding 18 months as the association resolves, commencing at the expiration of the previous financial year of the association. 
"""

So it seems that a once-off 9 month change-over 'year' is fine. In general our
financial year *will* be 12 months long, this lines up nicely with Council
elections and AGMs after all. We chose 30 September as 30 June is too early for
LCA (AGM needs to be held by end of the year) and 31 December is too late (no
time for audit before LCA). 30 September is a BAS date, and otherwise as good
as any.

-Mary