- Confirm deadlines: The AGM is usually 2-3 months after the end of the financial year, and it’s paper circulation deadline may be several weeks beforehand. The audited financial statements will need to be produced by then.
- Confirm auditor: ideally the auditor will have already been appointed at the previous year’s AGM. If not you will need to find one. Your constitution will probably be clear about the audit requirements, including any required qualifications. Ahead of the audit it’s worth re-confirming their availability and deadlines.
- Stock take: including clothing, caps, medals, etc. Write down quantities and values. See example [here].
- Open items: check for unpresented cheques, invoices and expenses (both inbound and outbound). Ideally open issues should have been closed before the end of the financial year because this will save entering accruals into the accounts.
- Accounts: update these and produce ‘Profit and Loss’ statement and ‘Balance Sheet’. Ensure all the Balance Sheet items reconcile i.e. cash in hand, bank balances, stock value, etc.
- Audit: pass all the information to the auditor (paper print outs of all the transactions in the accounts, including supporting files, financial statements, cheque book, receipt book, paying in book, stock take report, available bank statements, proof of bank balances at the end of the financial year). Answer and deal with any questions / issues. Obtain a letter from the auditor confirming validity of the accounts. The constitution may specify requirements for this. See examples [here].
- AGM: pre-circulate and present.
- File report with the appropriate authorities: this is a requirement for some organisations. As an incorporated body in NSW, SMNE is required to file certain information with [insert name] within a certain period of the AGM.
- Archive records: financial records should be retained for [period] after the end of the financial year.