2024-10-04
By Sue Etheridge
Australian Greens Treasurer
I live and work on the unceded lands of the Gubbi Gubbi people and pay respect to elders and ancestors of this country. I recognise that we walk on stolen land and that Sovereignty was never ceded. I also recognise the fight for truth telling, treaty, justice and peace continues.
This year as Treasurer has been highly rewarding, thanks largely to the collaborative efforts of those dedicated to enhancing our processes. I am deeply grateful to my fellow Office Bearers, Australian Greens Staff, State and Territory Treasurers, National Councillors, the Governance and Finance Committee, and the Donations Reference Group. Their hard work and partnership have made the year both productive and fulfilling.
Financial Report Summary
The Australian Greens reports are consolidated and include all of our activities: operational (administrative), election campaigning, and specific projects.
As at 01/07/2023, the Australian Greens held $1,148,239 CR. Over the year we received $4,795,155 CR in income and spent $4,605,314 DR, which resulted in a net surplus of $189,841 CR.
Our retained balance sheet surplus as at 30/06/2024 is $1,338,080 CR.
Total income slightly exceeded budget, primarily driven by substantial early donations from the Major Donor Program and Campaign, along with stronger-than-expected investment returns. Most other income sources aligned closely with projections. Surpassing the Donations and Fundraising targets reflects the dedication and hard work of both the Engagement and Campaign teams.
Overall operating expenses were effectively managed, coming in $359,732 below budget. Savings were achieved with both campaign expenses and equipment and systems costs being under budget.
BALANCE SHEET SUMMARY
I am pleased to report that our overall financial position remains solid. The majority of our assets are classified as ‘current’ (i.e., cash or cash-equivalents). After factoring in liabilities, a portion of our net assets is allocated as reserves for specific purposes, while the majority remains readily available in cash or cash-equivalent form.
Committees and Collaboration
The Governance and Finance Committee maintained its twice-monthly meetings to focus on key responsibilities, including Budget-Setting, the monthly review of Financial Reports, regular updates to the National Risk Management Register, the review and revision of Conflicts of Interest Management, oversight of Records Archiving, and ensuring the effective implementation of the Strategic Plan.
The Donations Reference Group met regularly to advance the development of a unified national approach for the ethical review and voluntary disclosure of donations across all offices. Additionally, the group reviewed and refined our internal policies and processes regarding donations.
The group of State and Territory Treasurers continues to meet regularly, fostering a collaborative and collegial environment. It’s been a pleasure to see familiar faces in our Zoom meetings, while also welcoming new Treasurers and bidding farewell to others.
A heartfelt thank you to everyone involved in these committees and meetings, including Alex Breskin, Anne Picot, Brett Constable, Caroline Atkinson, Chris Maltby, Claire O’Halloran, Deb Rees, Debbie Gibson, Denby Angus, Dominic Wy Kanak, Emi Martin, Emma Barrett, Emma Pringle, Gemmia Burden, Hayden Shaw, Jayde Lillico, Jesse Smith, Jonathan Parry, Margaret Keelan, Matt Roberts, Matthew Muscat, Rose Newbury Freeman, and Tim Liersch. Your hard work and dedication are deeply appreciated and have not gone unnoticed.
I’d like to give special recognition to Brett Constable, whose invaluable efforts support the entire party, particularly underpinning much of the Treasurer’s role. I also want to extend my thanks to Deputy Treasurer Matthew Muscat and my fellow Office Bearers; we are a close-knit team that collaborates exceptionally well. I feel fortunate to work alongside such outstanding individuals across the party, both staff and volunteers. This past year has been a shining example of what we can achieve when we unite towards a common goal.
- Sue