[Linux-aus] Council Meeting 2011-02-17
mary at puzzling.org
Sun Feb 20 06:44:00 EST 2011
On Sun, Feb 20, 2011, Anthony Towns wrote:
> (Why is there going to be an official audit, rather than the
> usual open source one of just making the draft public by sending it to
> this list?)
It's now required by law: this was mentioned in the AGM minutes.
The relevant legislation *appears* (disclaimer disclaimer) to be the
Associations Incorporation Act 2009 (NSW state law), Part 5, Financial
Reporting. In 43(1)(b): "the committee of a Tier 1 association... (b) must
cause the financial statements to be audited in time for them to be submitted
to the association’s next annual general meeting"
""Tier 1 associations are associations whose total revenue as recorded in the
income and expenditure statement for a financial year exceed $250,000 (excludes
GST) or current assets (defined as assets other than real property and capable
of depreciation) exceed $500,000."
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