[Linux-aus] [Announce] Notice of Linux Australia Special General Meeting to be held on 29/08/2011

[Mary Gardiner]

On 2011-08-04, John Ferlito <johnf at inodes.org> wrote:
> There are three reasons we picked October. Firstly it aligns with when
> BAS's are due. Secondly it occurs at a time of year that ensures that
> the majority of our turnover (LCA) ends up all in one financial year.
> Lastly June is a busy time for some members of the council especially
> for myself since it is tax time for the majority of individuals and
> businesses. So by having LA's financial year start in October it
> removes some of the pressure from our already busy Volunteers.
>

Maybe it was implicit that Anand already understood this, but the original
problem was that there should be a less than six month period between close of
financial year and AGM.

This means:

Close of financial year on 30 June: AGM must be held by 31 December, so, AGM
can't be held at LCA. (This may have motivated the switch to a Jan to Dec
financial year?)

Our current close of financial year on 31 December: unlikely in the extreme
that the accounts can reasonably be professionally audited[1] by mid-January,
so, AGM can't be held at LCA.

Close of financial year on 31 October: AGM window doesn't close until 31 March,
yet auditors have several months to work before LCA, AGM can still be held at
LCA.

This was a major factor in the choice of a date not in June and not in
December, the desire to continue to hold the AGM at LA's major event so that
more of its members can attend.

-Mary

[1] This has been explained several times on linux-aus in recent months, but,
briefly, an audit is now required for Linux Australia due to total revenue exceeding
$250000, see
http://www.fairtrading.nsw.gov.au/Factsheet_print/Cooperatives_and_associations/Associations/Statutory_and_reporting_obligations/_Financial_reporting_requirements.pdf