ANNUAL REPORT 2018-2019 - Rumbalara Aboriginal Co ...
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ANNUAL REPORT 2018-2019 RUMBALARA ABORIGINAL CO-OPERATIVE
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Transcript of ANNUAL REPORT 2018-2019 - Rumbalara Aboriginal Co ...
A N N U A L R E P O R T 2 0 1 8 - 2 0 1 9
RUMBALARA ABORIGINAL CO-OPERATIVE
FINANCIAL STATEMENTS FOR THE YEAR ENDED
30 June 2019
ABN 84 530 647 942
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AU
DIT
OR
’S IN
DEP
END
ENC
E D
ECLA
RA
TIO
N
UN
DER
SEC
TIO
N 6
0-40
OF
THE
AU
STR
ALI
AN
CH
AR
ITIE
S A
ND
NO
T-FO
R-P
RO
FITS
CO
MM
ISSI
ON
AC
T 20
12TO
TH
E D
IREC
TOR
SO
FR
UM
BA
RA
LA A
BO
RIG
INA
L C
O-O
PER
ATI
VE L
IMIT
ED
I de
clar
e th
at,
to t
he b
est
of m
y kn
owle
dge
and
belie
f,du
ring
the
year
end
ed 3
0 Ju
ne 2
019
ther
e ha
ve
been
:
(i)no
con
trave
ntio
ns o
f the
aud
itor
inde
pend
ence
req
uire
men
ts a
s se
t out
in th
e A
ustra
lian
Cha
ritie
s an
d N
ot-fo
r-pr
ofits
Com
mis
sion
Act
201
2in
rela
tion
to th
e au
dit;
and
(ii)
no c
ontra
vent
ions
of a
ny a
pplic
able
cod
e of
pro
fess
iona
l con
duct
in re
latio
n to
the
audi
t.
McL
ean
Del
mo
Ben
tleys
Aud
it Pt
y Lt
d
Mar
tin F
enso
me
Haw
thor
nPa
rtne
r29
June
2020
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IND
EPEN
DEN
T AU
DIT
OR
’S R
EPO
RT
TO T
HE
MEM
BER
S O
F R
UM
BA
RA
LA A
BO
RIG
INA
L C
O-O
PER
ATI
VE L
IMIT
ED
Opi
nion
W
e ha
ve a
udite
d th
e fin
anci
al re
port
of R
umba
rala
Abo
rigin
al C
o-O
pera
tive
Lim
ited,
whi
ch c
ompr
ises
th
e st
atem
ent
of f
inan
cial
pos
ition
as
at 3
0 Ju
ne 2
019,
the
sta
tem
ent
of c
ompr
ehen
sive
inc
ome,
st
atem
ent o
f cha
nges
in e
quity
and
sta
tem
ent o
f cas
h flo
ws
for t
he y
ear t
hen
ende
d, a
nd n
otes
to th
e fin
anci
al s
tate
men
ts,
incl
udin
g a
sum
mar
y of
sig
nific
ant
acco
untin
g po
licie
s an
d ot
her
expl
anat
ory
info
rmat
ion,
and
the
dire
ctor
s’ d
ecla
ratio
n.
In o
ur o
pini
on th
e fin
anci
al re
port
of R
umba
rala
Abo
rigin
al C
o-O
pera
tive
Lim
ited
is in
acc
orda
nce
with
th
e D
ivis
ion
60 o
f the
Aus
tralia
n C
harit
ies
and
Not
-for-
prof
it C
omm
issi
on A
ct 2
012,
incl
udin
g:
(a)
givi
ng a
true
and
fair
view
of t
he E
ntity
’s fi
nanc
ial p
ositi
on a
s at
30
June
201
9an
d of
its
perfo
rman
ce
for t
he y
ear e
nded
on
that
dat
e;an
d
(b)
com
plyi
ng w
ith A
ustra
lian
Acc
ount
ing
Sta
ndar
ds –
Red
uced
Dis
clos
ure
Req
uire
men
ts,
and
the
Aus
tralia
n C
harit
ies
and
Not
-for-
prof
it C
omm
issi
on R
egul
atio
n 20
13.
Bas
is fo
r Opi
nion
W
e co
nduc
ted
our a
udit
in a
ccor
danc
e w
ith A
ustra
lian
Aud
iting
Sta
ndar
ds. O
ur re
spon
sibi
litie
s un
der
thos
e st
anda
rds
are
furth
er d
escr
ibed
in t
he A
udito
r’s R
espo
nsib
ilitie
s fo
r th
e A
udit
of t
he F
inan
cial
R
epor
t se
ctio
n of
our
rep
ort.
We
are
inde
pend
ent
of t
he E
ntity
in
acco
rdan
ce w
ith t
he e
thic
al
requ
irem
ents
of t
he A
ccou
ntin
g Pr
ofes
sion
al a
nd E
thic
al S
tand
ards
Boa
rd’s
APE
S 11
0 C
ode
of E
thic
s fo
r Pro
fess
iona
l Acc
ount
ants
(the
Cod
e) th
at a
re re
leva
nt to
our
aud
it of
the
finan
cial
repo
rt in
Aus
tralia
. W
e ha
ve a
lso
fulfi
lled
our o
ther
eth
ical
resp
onsi
bilit
ies
in a
ccor
danc
e w
ith th
e C
ode.
In c
ondu
ctin
g ou
r au
dit,
we
have
com
plie
d w
ith t
he i
ndep
ende
nce
requ
irem
ents
of
the
Aus
tralia
n C
harit
ies
and
Not
-for-
prof
its C
omm
issi
on A
ct 2
012,
whi
ch h
as b
een
give
n to
the
dire
ctor
s as
at t
he ti
me
of th
is a
udito
r’s re
port.
We
belie
ve th
at th
e au
dit e
vide
nce
we
have
obt
aine
d is
suf
ficie
nt a
nd a
ppro
pria
te to
pro
vide
a b
asis
for
our o
pini
on.
Res
pons
ibili
ties
of th
e D
irect
ors
for t
he F
inan
cial
Rep
ort
The
Dire
ctor
s of
the
Ent
ity a
re re
spon
sibl
e fo
r th
e pr
epar
atio
n of
the
finan
cial
repo
rt th
at g
ives
a tr
ue
and
fair
view
in a
ccor
danc
e w
ith A
ustra
lian
Acc
ount
ing
Sta
ndar
ds –
Red
uced
Dis
clos
ure
Req
uire
men
ts
and
the
Aust
ralia
n C
harit
ies
and
Not
-for-p
rofit
s C
omm
issi
on A
ct 2
012
and
fors
uch
inte
rnal
con
trol a
s th
e di
rect
ors
dete
rmin
e is
nec
essa
ry to
ena
ble
the
prep
arat
ion
of a
fina
ncia
l rep
ort t
hat g
ives
a tr
ue a
nd
fair
view
and
is fr
ee fr
om m
ater
ial m
isst
atem
ent,
whe
ther
due
to fr
aud
or e
rror
.
In p
repa
ring
the
finan
cial
rep
ort,
the
dire
ctor
s ar
e re
spon
sibl
e fo
r as
sess
ing
the
Entit
y’s
abilit
y to
co
ntin
ue a
s a
goin
g co
ncer
n, d
iscl
osin
g, a
s ap
plic
able
, mat
ters
rela
ting
to g
oing
con
cern
and
usi
ng th
e go
ing
conc
ern
basi
s of
acc
ount
ing
unle
ss th
e di
rect
ors
eith
er in
tend
to li
quid
ate
the
Ent
ity o
r to
ceas
e op
erat
ions
, or h
as n
o re
alis
tic a
ltern
ativ
e bu
t to
do s
o.
28
30
IND
EPEN
DEN
T AU
DIT
OR
’S R
EPO
RT
TO T
HE
MEM
BER
S O
FR
UM
BA
RA
LA A
BO
RIG
INA
L C
O-O
PER
ATI
VE L
IMIT
ED(C
ON
TIN
UED
)
Aud
itor’s
Res
pons
ibili
ties
for t
he A
udit
of th
e Fi
nanc
ial R
epor
t O
ur o
bjec
tives
are
to o
btai
n re
ason
able
ass
uran
ce a
bout
whe
ther
the
finan
cial
repo
rt as
a w
hole
is fr
ee
from
mat
eria
l mis
stat
emen
t, w
heth
er d
ue to
frau
d or
erro
r, an
d to
issu
e an
aud
itor’s
repo
rt th
at in
clud
es
our
opin
ion.
Rea
sona
ble
assu
ranc
e is
a h
igh
leve
l of a
ssur
ance
, but
is n
ot a
gua
rant
ee th
at a
n au
dit
cond
ucte
d in
acc
orda
nce
with
Aus
tralia
n A
uditi
ng S
tand
ards
will
alw
ays
dete
ct a
mat
eria
l mis
stat
emen
t w
hen
it ex
ists
. Mis
stat
emen
ts c
anar
ise
from
frau
d or
erro
r and
are
con
side
red
mat
eria
l if,
indi
vidu
ally
or
in th
e ag
greg
ate,
they
cou
ld re
ason
ably
be
expe
cted
to in
fluen
ce th
e ec
onom
ic d
ecis
ions
of u
sers
ta
ken
on th
e ba
sis
of th
e fin
anci
al re
port.
As
part
of a
n au
dit i
n ac
cord
ance
with
Aus
tralia
n A
uditi
ng S
tand
ards
, we
exer
cise
pro
fess
iona
l judg
men
t an
d m
aint
ain
prof
essi
onal
sce
ptic
ism
thro
ugho
ut th
e au
dit.
We
also
:
•Id
entif
y an
d as
sess
the
risks
of m
ater
ial m
isst
atem
ent o
f the
fina
ncia
l rep
ort,
whe
ther
due
to fr
aud
or e
rror
, des
ign
and
perfo
rm a
udit
proc
edur
es re
spon
sive
to th
ose
risks
, and
obt
ain
audi
t evi
denc
e th
at is
suf
ficie
nt a
nd a
ppro
pria
te to
pro
vide
a b
asis
for o
ur o
pini
on. T
he ri
sk o
f not
det
ectin
g a
mat
eria
l m
isst
atem
ent r
esul
ting
from
frau
d is
hig
her t
han
for o
ne re
sulti
ng fr
om e
rror,
as fr
aud
may
invo
lve
collu
sion
, for
gery
, int
entio
nal o
mis
sion
s, m
isre
pres
enta
tions
, or t
he o
verr
ide
of in
tern
al c
ontro
l. •
Obt
ain
an u
nder
stan
ding
of i
nter
nal c
ontro
l rel
evan
t to
the
audi
t in
orde
r to
desi
gn a
udit
proc
edur
es
that
are
app
ropr
iate
inth
e ci
rcum
stan
ces,
but
not
for t
he p
urpo
se o
f exp
ress
ing
an o
pini
on o
n th
e ef
fect
iven
ess
of th
e En
tity’
s in
tern
al c
ontro
l. •
Eva
luat
e th
e ap
prop
riate
ness
of a
ccou
ntin
g po
licie
s us
ed a
nd t
he r
easo
nabl
enes
s of
acc
ount
ing
estim
ates
and
rela
ted
disc
losu
res
mad
e by
the
dire
ctor
s.•
Con
clud
e on
the
appr
opria
tene
ss o
f the
dire
ctor
s’us
e of
the
goin
g co
ncer
n ba
sis
of a
ccou
ntin
g an
d,
base
d on
the
audi
t evi
denc
e ob
tain
ed, w
heth
er a
mat
eria
l unc
erta
inty
exi
sts
rela
ted
to e
vent
s or
co
nditi
ons
that
may
cas
t sig
nific
ant d
oubt
on
the
Entit
y’s
abilit
y to
con
tinue
as
a go
ing
conc
ern.
If w
e co
nclu
de th
at a
mat
eria
l unc
erta
inty
exi
sts,
we
are
requ
ired
to d
raw
atte
ntio
n in
our
aud
itor’s
repo
rt to
the
rela
ted
disc
losu
res
in th
e fin
anci
al re
port
or, i
f suc
h di
sclo
sure
s ar
e in
adeq
uate
, to
mod
ify o
ur
opin
ion.
Our
con
clus
ions
are
bas
ed o
n th
e au
dit e
vide
nce
obta
ined
up
to th
e da
te o
f our
aud
itor’s
re
port.
How
ever
, fut
ure
even
ts o
r con
ditio
ns m
ay c
ause
the
Ent
ity to
cea
se to
con
tinue
as
a go
ing
conc
ern.
•
Eva
luat
e th
e ov
eral
l pr
esen
tatio
n, s
truct
ure
and
cont
ent
of t
he f
inan
cial
rep
ort,
incl
udin
g th
e di
sclo
sure
s, a
nd w
heth
er th
e fin
anci
al re
port
repr
esen
ts th
e un
derly
ing
trans
actio
ns a
nd e
vent
s in
a
man
ner t
hat a
chie
ves
fair
pres
enta
tion.
We
com
mun
icat
e w
ith th
ose
char
ged
with
gov
erna
nce
rega
rdin
g, a
mon
g ot
her
mat
ters
, the
pla
nned
sc
ope
and
timin
g of
the
aud
it an
d si
gnifi
cant
aud
it fin
ding
s, in
clud
ing
any
sign
ifica
nt d
efic
ienc
ies
in
inte
rnal
con
trol t
hat w
e id
entif
y du
ring
our a
udit.
McL
ean
Del
mo
Ben
tleys
Aud
it Pt
y Lt
d
Mar
tin F
enso
me
Haw
thor
nPa
rtne
r30
Jun
e 20
20
29
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