TREASURER’S
REPORT

It is pleasing to report that OzHarvest was able to achieve a surplus of $146,957 for the year ended 30 June 2018. This compares to the surplus of $745,519 reported last year.

Total Revenue for the financial year was $13,812,011 (FY16/17: $11,744,296), an increase of 18% over the prior year. Donations continue to be the primary source of income for OzHarvest making up 76% of total revenue. Donations have increased by 20% over the prior year.

The continuing growth in demand for food rescue services from both food donors and the recipient charities has driven an increase in employee numbers and in the number of food rescue vehicles. OzHarvest has also continued to expand its education pillar with the addition of FEAST, a program designed to teach primary school kids about sustainability, food waste and nutrition. This has led to a rise in the organisation’s operating expenses to $13,665,054.

OzHarvest continues to search for new and innovative ways to provide sustainable funding for its expanding services.

The surplus for the year has enabled OzHarvest’s net asset position to increase to $5,780,804.

I wish to thank Graham Jowett, CFO and Scott Martin, Head of Business Services and their team for their hard work and dedication. I also acknowledge the work and support of the auditors Ernst & Young.

– Kieran Pryke

Treasurer, OzHarvest Board Director

auditor’S
REPORT

The summary financial statements, which comprise the summary statement of financial position as at 30 June 2018, the summary statement of comprehensive income and summary statement of cash flows for the year then ended, are derived from the audited financial report of OzHarvest Limited for the year ended 30 June 2018

In our opinion, the accompanying summary financial statements are consistent, in all material respects, with the audited financial report.

The summary financial statements do not contain all the disclosures required by Accounting Standard AASB 101 Presentation of Financial Statements and International Financial Reporting Standards applied in the preparation of the audited “full” financial report of the company. Reading the summary financial statements and the auditor’s report thereon, therefore, is not a substitute for reading the audited financial report and the auditor’s report thereon.

We expressed an unmodified audit opinion on the audited financial report in our report dated 17 October 2018. The audited financial report and the summary financial statements do not reflect the effects of events that occurred subsequent to the date of our report on the audited financial report.

Our auditor’s report on the Company’s audited financial report for the year ended 30 June 2018 draws attention to Note 1 of the financial report which describes the basis of accounting. That financial report is prepared to assist the Company to meet the requirements of the Australian Charities and Not-for-Profits Commission Act 2012. As a result, the summary financial statements may not be suitable for another purpose.

The directors of the Company are responsible for the preparation of the summary financial statements in accordance with the summary of accounting policies described in Note 1 of the audited “full” financial report of OzHarvest Limited.

Our responsibility is to express an opinion on whether the summary financial statements are consistent, in all material respects, with the audited financial report based on our procedures, which were conducted in accordance with Auditing Standard ASA 810 Engagements to Report on Summary Financial Statements.

– Ernst & Young

Sydney, 17 October 2018

Statement of
comprehensive
income

Statement Of
Financial
Position

Statement of
Cash Flows