ADAVB 2018/2019 Annual Report

A D A V B A N N U A L R E P O R T 2 0 1 8 / 1 9 | 3 9 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019 Consolidated Consolidated 2019 2018 $ $ NOTE 2: REVENUE FROM CONTINUING OPERATION Revenue - Subscriptions 2,369,860 2,373,560 - Meetings, functions and events 853,161 402,829 - Commission received and administration fees 734,039 806,955 - Other income 408,202 326,010 4,365,262 3,909,354 NOTE 3: SURPLUS/(DEFICIT) FOR THE YEAR Expenses: Employee benefits 2,365,073 2,011,257 Depreciation: Freehold buildings 200,642 200,642 Plant and equipment 73,093 89,685 273,735 290,327 Rental expense on operating leases 8,474 21,475