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Winter 2003

HSUA Tasmania No. 1 Branch Discussion and Analysis for Concise Financial Report

Health Services Union of Australia Tasmania No. 1 Branch Discussion and Analysis for Concise Financial Report Year ended 30 June 2003

For the 2002/03 financial year the union made an operating profit of $107,615, less an extraordinary amount of $400,000 paid to the state Commissioner of Payroll Tax in settlement of a long standing dispute. This resulted in a loss of $292,385 for the financial year. The operating profit was down on the previous year due to increases in insurance, legal, capitation expenses.

The Payables liability was reduced at year end as the previous years accrued capitation fees were paid. In addition the Provision liability was reduced to a change in the calculation of long service leave.

The cash flow statement shows that there was a net decrease of cash of $420,548, due mostly to the settlement of the payroll tax dispute and payment of previous years capitation fees.

In relation to the operations, the union launched a website (www.hacsutas.asn.au) for members and introduced a 1300 Help Line for the use of members seeking industrial advice and assistance.

For the full Report from the Chartered Accountants please see your hardcopy of the Inform Journal.