15 February 2011 

MEMO TO CLUBS 

Annual Report 2011 

Dear Member Clubs 

Please find attached the Annual Report for the year ending 31 December 2011 that will be 

presented for approval at the Annual General Meeting on the 17th February 2011.   

Financial Statements 

To assist you with your review of the Financial Statements we make the following comments: 

1. The 2011 Annual Report shows surplus of $29k.  This is $10k higher than the budgeted 

surplus. 

2. The Statement of Financial Performance on page 11 shows the income and expenses 

for each area of the business ie High Performance, Sport Development and Events.  

High Performance 

Income from SPARC of $952,915 is a separate line as it is attributed to the costs high 

performance and supporting the organisation. 

Income and Expenses from High Performance campaigns and other costs on pages 13- 

18 are totalled and summarised here. 

Sport Development 

Income and Expenses from Sport Development on pages 19 are summarised here. 

Events 

Income and Expenses from Events on pages 20-26 are totalled and summarised here. 

If you have any questions on the Annual Report can you please provide them to the CEO Paula 

Kearns paula.kearns@canoeracing.org.nz. 

Maree Burnett 

Chair Audit & Risk Committee 

2011 Audited Annual Accounts