3MDR Mountain District Radio
Treasurer’s Report to the Annual General Meeting
for the 2024/25 Financial Year
22 November 2025
I am pleased to present the audited financial statements and Treasurer’s Report for the year ending 30 June 2025.
This has been my first year as 3MDR’s Treasurer. At the end of 2024, we farewelled our Treasurer, Barbara Baxter, and I am extremely thankful for her detailed handing over of the position to me in terms of documentation and instruction. We miss her tremendously – particularly her wicked sense of humour and keen business eye.
Besides a new Treasurer, 2025 saw a number of changes for 3MDR’s financial management, including the appointment of Bookkeeper Kylie Moss. Kylie and Nat had the challenging task of implementing the change from Quick Books, our previous financial accounting system, to Xero, making reporting more comprehensive, and the tracking of user access and actions more transparent. We also instigated a Finance, Risk and Procurement Subcommittee comprising the Treasurer, Bookkeeper Kylie Moss, Board Member Rob Gebert, and Station Manager Nat Grant. The subcommittee provides another layer of oversight and transparency in the organisation’s financial management. I am extremely thankful for their expertise and support. Thanks also to Ren Cuttriss-Garry, our Engagement Coordinator, for her ongoing administrative support and assistance.
Balance Sheet
Total assets decreased slightly to $117,483 – this amount includes cash reserves of $72,647.
Liabilities decreased to $28,545 (down from $31,397 in 2023/24).
Net assets (equity) for 2024/25 – $88,938.
Profit and Loss
In the 2024/2025 financial year, total trading income recorded was $122,282 compared to $259,338 in 2023/2024. It should be noted that receipt of funding of $53,757 from the Community Broadcasting Foundation (CBF) in June 2024 should have been received in the 2024/25 financial year. This reflects a lower Grants Income compared to the previous year and partly explains a Net Deficit recorded for 2024/25 of ($84,068) compared to a Net Profit of $71,748 in 2023/24.
Income
Sponsorship, grants and donations income was lower than in the previous year. A donations drive was instigated in 2025 and will be repeated in 2026.
Expenditure
Overall operating expenses rose $18,702, mainly across Equipment Repairs and Maintenance (mainly to secure the infrastructure at our transmitter site in Kallista) along with increases in Financial Management, Events and Marketing, Training and Development and Membership Fees which contributed to the Net Deficit.
Cleaning, Site Improvement and Maintenance decreased this financial year as did Non-depreciable Assets.
Cash on hand
At 30 June 2025 we had cash and cash equivalents of approximately $72,647. The end of year cash includes some grants not yet expended. It is expected that any and all unexpended grants received by 30 June 2025 financial year will be expended in 2025/26.
Membership fees
The 3MDR Rules of Association specify that the business of the Annual General Meeting includes that the members “confirm or vary the amounts (if any) of the annual subscription and joining fee” (i.e. membership fee).
At this time there is no recommendation from the Committee of Management to modify the membership fees for 2025/26, currently $66 (inc.GST) for a full membership and $44 for a concession membership.
Auditor
Andrew Harper of HBT Advisory has once again done an outstanding job with the preparation of our annual financial statements and I recommend we re-appoint him. I propose the following:
Motion: That HBT Advisory be re-appointed as 3MDR auditor for the 2025/26 financial year.
Coming up in 2025/26
The organisation is currently in a strong financial position – with a healthy net profit year to date.
We can look forward to receiving funding from the Shire of Yarra Ranges of $8,500 for the 3MDR Events Calendar, along with $4,892 from the Community Broadcasting Foundation for a new, weekly disability led broadcast.
Nat and Ren have been super busy and doing an amazing job with all of our 40th birthday celebrations and have some even more exciting ideas for the rest of this financial year. So watch this space!
Sue Amico
Treasurer
3MDR Station Manager Report 2025
Dear friends and family of 3MDR,
As I’m sure you’ve heard by now, 2025 marks the 40th year for us on 97.1fm and we’ve certainly packed a lot in!
As usual we’ve been quite busy with events:
- an Open Day at the station,
- an 80s party where many of you got up to sing and dance,
- the now annual vinyl fair,
- Outside Broadcasts from the Fat Goat and the RSL,
- our very first EOFY donation drive,
- a really successful radiothon,
- PLUS the return of the big gig at elevations last week.
But wait, there’s more! We are launching a really special project at Burrinja next week – a podcast series featuring interviews with dozens and dozens of our founding and current members, and a whole host of people in between. There’s an exhibition of artefacts and goodies from the 3MDR vault that will run until March, and the Yarra Ranges Regional Museum is also hosting a retrospective of our music and gig posters over the same period.
We trained 18 new presenters this year and have 9 new programs on the airwaves! We also held our very first podcast training program which brought a whole crew of new people into the station. We’ll be doing that one again for sure.
3MDR’s tech team is expanding and we are so looking forward to more OBs and more live musos in the studio next year.
We also need to say a big congrats to TIna Nabb aka Christina the Astonishing aka the Volun-Tina, our office volunteer extraordinaire who was nominated and shortlisted for an award at the Community Broadcasting Association’s annual conference this year. Tina’s nomination honours the behind the scene work she puts in every single week for 3MDR and for all of us.
The paper work is almost in for our next B66 licence renewal – legal for another five years we can get straight back into broadcasting and representing our community.
Next year is the International Year of the Volunteer – so look out for many exciting initiatives that will be
focused on YOU! More than anything, even more than paying the bills (lol), I love seeing this community grow and nurture itself. It is truly joyful to see 3MDR volunteers helping and teaching each other, and forging new friendships – knowing that they may never have met if it were not for community radio.
It really is YOUR MDR and the great goals we are kicking are in huge part thanks to the hard work of all our members, so thank you.
Dr. Nat Grant.
3MDR Station Manager.
Financial Report: Andrew Harper (HBT Advisory)
3MDR – MOUNTAIN DISTRICT RADIO INC
For the year ended 30 June 2025
Report on the Financial Statements
We have compiled the accompanying special purpose financial statements of 3MDR – Mountain District Radio Inc. which comprise the Balance Sheet at 30 June 2025, Profit and Loss Statement for the year ended 1 July 2024 to 30 June 2025 and the Notes to the Financial Statements.
Accountant’s Responsibility
On the basis of information provided by the entity we have compiled the accompanying special purpose financial statements in accordance with the significant accounting policies described in the financial statements and APES 315 Compilation of Financial Information.
We have applied our expertise in accounting and financial reporting to compile these financial statements in accordance with the Notes to the Financial Statements. We have complied with the relevant ethical requirements of APES 110 Code of Ethics for Professional Accountants.
The special purpose financial statements were compiled exclusively for the benefit of the committee who are responsible for the reliability, accuracy and completeness of the information used to compile them. We do not accept responsibility for the contents of the special purpose financial statements.
In preparing the Financial Report, this has consisted of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures.
Independence
In the preparation of this Report, we have complied with the independence requirements of the Australian professional accounting bodies.
Conclusion
We note that from the preparation of the Financial Report there is nothing that has come to our attention that causes us to believe that the annual Financial Statements of 3MDR – Mountain District Radio Inc. does not present fairly, in all material respects, the financial position as at 30 June 2025 and of its financial performance for the year ended 30 June 2025.
Andrew Harper, CPA Director
HBT Advisory Pty Ltd Ground Floor, 18 Main Street PAKENHAM VIC 3810
Profit and Loss Statement
| 3MDR – MOUNTAIN DISTRICT RADIO INC |
|
| For the year ended 30 June 2025 |
2025 |
2024 |
| Income |
|
|
| Donations |
6,791 |
7,071 |
| Events |
5,495 |
1,027 |
| Grants |
46,870 |
189,271 |
| Merchandise |
4,803 |
4,597 |
| Station Generated |
58,093 |
57,206 |
| Sundry Income |
231 |
165 |
| Total Income |
122,283 |
259,338 |
| Cost of Sales |
|
|
| Cost of Sales |
5,419 |
4,034 |
| Total Cost of Sales |
5,419 |
4,034 |
| Gross Surplus |
116,864 |
255,305 |
| Other Income |
|
|
| Interest Income |
3,201 |
1,875 |
| Total Other Income |
3,201 |
1,875 |
| Expenditure |
|
|
|
Bank and Merchant Fees |
838 |
767 |
|
Cleaning and site improvement & maintenance |
3,767 |
5,737 |
|
Communications |
6,113 |
6,441 |
|
Community Language Program Support |
5,680 |
7,609 |
|
Depreciation |
8,789 |
10,078 |
|
Equipment repairs & maintenance |
10,695 |
1,809 |
|
Equipment under $300 |
174 |
– |
|
Events and Marketing Expenses |
5,218 |
1,288 |
|
Financial management |
2,802 |
1,950 |
|
Insurance |
4,213 |
3,742 |
|
Licence Fees |
3,391 |
3,321 |
|
Light & Power |
4,969 |
(1,563) |
|
Meetings and conferences |
3,208 |
669 |
|
Membership Fees |
4,369 |
2,517 |
|
Non-depreciable assets |
4,373 |
11,383 |
|
Office Expenses |
1,794 |
1,687 |
|
Provision for Annual Leave expense |
166 |
1,519 |
|
Provision for Long Service Leave expense |
757 |
1,538 |
|
Rent |
8,276 |
8,268 |
|
Subscriptions |
249 |
774 |
|
Superannuation |
12,440 |
11,258 |
|
Training & Development |
3,672 |
1,940 |
Profit and Loss Statement
|
2025 |
2024 |
|
|
|
| Wages & Salaries |
108,177 |
102,700 |
| Total Expenditure |
204,133 |
185,431 |
| Current Year Surplus/ (Deficit) |
(84,068) |
71,748 |
Balance Sheet
3MDR – MOUNTAIN DISTRICT RADIO INC
As at 30 June 2025
Assets
NOTES 30 JUNE 2025 30 JUNE 2024
| Current Assets |
|
Cash and Cash Equivalents |
2 |
72,647 |
87,245 |
|
Trade and Other Receivables |
3 |
1,662 |
65,194 |
|
Total Current Assets |
|
74,308 |
152,438 |
| Non-Current Assets |
| Plant and Equipment |
4 |
43,175 |
51,964 |
| Total Non-Current Assets |
|
43,175 |
51,964 |
| Total Assets |
|
117,483 |
204,403 |
Liabilities
Current Liabilities
| Trade and Other Payables |
5 |
10,488 |
16,263 |
| Provisions |
6 |
18,057 |
15,134 |
| Total Current Liabilities |
|
28,545 |
31,397 |
| Total Liabilities |
|
28,545 |
31,397 |
| Net Assets
Member’s Funds |
|
88,938 |
173,006 |
| Members Funds |
|
88,938 |
173,006 |
| Total Member’s Funds |
|
88,938 |
173,006 |
Notes to the Financial Statements
3MDR – MOUNTAIN DISTRICT RADIO INC
For the year ended 30 June 2025
-
Summary of Significant Accounting Policies
The financial statements are special purpose financial statements prepared in order to satisfy the financial reporting requirements of the Associations Incorporation Act of Victoria. The committee has determined that the association is not a reporting entity.
The financial statements have been prepared on an accruals basis and are based on historic costs and do not take into account changing money values or, except where stated specifically, current valuations of non-current assets.
The following significant accounting policies, which are consistent with the previous period unless stated otherwise, have been adopted in the preparation of these financial statements.
Income Tax
The association is exempt for Income Tax under relevant legislation.
Property, Plant and Equipment (PPE)
Leasehold improvements and office equipment are carried at cost less, where applicable, any accumulated depreciation.
The depreciable amount of all PPE is depreciated over the useful lives of the assets to the association commencing from the time the asset is held ready for use.
Leasehold improvements are amortised over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements.
Impairment of Assets
At the end of each reporting period, the committee reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, an impairment test is carried out on the asset by comparing the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value in use, to the asset’s carrying amount. Any excess of the asset’s carrying amount over its recoverable amount is recognised in the income and expenditure statement.
Employee Provisions
Provision is made for the association’s liability for employee benefits arising from services renderedby employees to the end of the reporting period. Employee provisions have been measured at theamounts expected to be paid when the liability is settled.
Provisions
Provisions are recognised when the association has a legal or constructive obligation, as a result ofpast events, for which it is probable that an outflow of economic benefits will result and that outflowcan be reliably measured. Provisions are measured at the best estimate of the amounts required tosettle the obligation at the end of the reporting period.
Cash on Hand
Cash on hand includes cash on hand, deposits held at call with banks, and other short-term highly liquid investments with original maturities of three months or less.
Accounts Receivable and Other Debtors
Accounts receivable and other debtors include amounts due from members as well as amounts receivable from donors. Receivables expected to be collected within 12 months of the end of the reporting period are classified as current assets. All other receivables are classified as non-current assets.
Revenue and Other Income
Revenue is measured at the fair value of the consideration received or receivable after taking into account any trade discounts and volume rebates allowed. For this purpose, deferred consideration is not discounted to present values when recognising revenue.
Interest revenue is recognised using the effective interest method, which for floating rate financial assets is the rate inherent in the instrument. Dividend revenue is recognised when the right to receive a dividend has been established.
Grant and donation income is recognised when the entity obtains control over the funds, which is generally at the time of receipt.
If conditions are attached to the grant that must be satisfied before the association is eligible to receive the contribution, recognition of the grant as revenue will be deferred until those conditions are satisfied.
All revenue is stated net of the amount of goods and services tax.
Goods and Services Tax (GST)
Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO). Receivables and payables are stated inclusive of the amount of GST receivable or payable. The net amount of GST recoverable from, or payable to, the ATO is included with other receivables or payables in the Balance Sheet.
Financial Assets
Investments in financial assets are initially recognised at cost, which includes transaction costs, and are subsequently measured at fair value, which is equivalent to their market bid price at the end of the reporting period. Movements in fair value are recognised through an equity reserve.
Accounts Payable and Other Payables
Accounts payable and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the association during the reporting period that remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.
2025 2024
- Cash on Hand
| Bendigo Bank Cheque Account |
545 |
1,833 |
| Bendigo Term Deposit Account |
53,553 |
51,122 |
| Bendigo Bank Gift Status A/C |
522 |
4 |
| Bendigo Bank Savings |
17,649 |
33,889 |
| GiveNow Account |
50 |
50 |
| Paypal Account |
50 |
– |
| Petty Cash Float |
277 |
347 |
| Total Cash on Hand |
72,647 |
87,245 |
|
2025 |
2024 |
| 3. Trade and Other Receivables |
|
|
| Trade Receivables |
|
|
| Trade Debtors |
1,665 |
65,194 |
| Pinch Payments Clearance Account |
(4) |
– |
| Total Trade Receivables |
1,662 |
65,194 |
| Total Trade and Other Receivables |
1,662 |
65,194 |
|
2025 |
2024 |
| 4. Plant and Equipment |
|
|
| Plant and Equipment |
| Plant and Equipment at Cost |
75,869 |
75,869 |
| Accumulated Depreciation of Plant and Equipment |
(32,694) |
(23,904) |
| Total Plant and Equipment |
43,175 |
51,964 |
| Total Plant and Equipment |
43,175 |
51,964 |
|
2025 |
2024 |
| 5. Trade and Other Payables |
|
|
| Trade Payables |
| ATO and Superannuation Clearing Account |
7,874 |
6,744 |
| Superannuation Payable |
957 |
2,842 |
| GST |
(366) |
5,726 |
| PAYG Withholdings Payable |
– |
– |
| Rounding |
4 |
– |
| Trade Creditors |
2,019 |
951 |
| Total Trade Payables |
10,488 |
16,263 |
| Total Trade and Other Payables |
10,488 |
16,263 |
| 6. Provisions |
2025 |
2024 |
| Grant Income and Expenditure
DFFH Youth Fest Income |
2,000 |
– |
| Grant Andrews Foundation Income |
(909) |
– |
| Grant Andrews Foundation Spending |
909 |
– |
| Grant Cardinia Shire Council Small Change Income |
(909) |
– |
| Grant Cardinia Shire Council Small Change Spending |
909 |
– |
|
2025 |
2024 |
|
|
|
|
|
Grant Foothills Foundation Income |
(852) |
– |
|
Grant Foothills Foundation Spending |
852 |
– |
|
Grant Matana Foundation for Young People Income |
(6,200) |
– |
|
Grant Matana Foundation for Young People Spending |
6,200 |
– |
|
Grant Creative Victoria Support for Community Broadcasting Income |
(15,000) |
(15,000) |
|
Grant Creative Victoria Support for Community Broadcasting Spending |
15,000 |
15,000 |
|
Grant Yarra Ranges Council – Wurundjeri Training Income |
(1,650) |
– |
|
Grant Yarra Ranges Council – Wurundjeri Training Spending |
1,650 |
– |
|
Newboys Foundation Income |
(5,000) |
– |
|
Newboys Foundation Spending |
5,000 |
– |
|
Yarra Ranges Council – 40th Birthday Grant Income |
(3,100) |
(5,150) |
|
Yarra Ranges Council – 40th Birthday Grant Spending |
3,100 |
5,150 |
|
Total Grant Income and Expenditure |
2,000 |
– |
| Leave Provisions |
|
Provision for Annual Leave |
10,322 |
10,156 |
| Provision for Long Service leave |
5,736 |
4,978 |
|
Total Leave Provisions |
16,057 |
15,134 |
Total Provisions 18,057 15,134
Movements in Members Funds
3MDR – MOUNTAIN DISTRICT RADIO INC
For the year ended 30 June 2025
2025 2024
Members Funds
Opening Balance 173,006 101,258
Increases
| Profit for the Period |
(84,068) |
71,748 |
| Total Increases |
(84,068) |
71,748 |
| Total Members Funds |
88,938 |
173,006 |
3MDR 97.1FM