1. Your directors submit the financial accounts for the year ended 30^th June 2002.
2. The names of the directors in office at the date of this report are:

Robert J. Altamore Leighton J. Boyd

Tony Clark Lynnette A. Davis

Lynette Eagers Peter R. Johnson

Karen L. Knight Tony F. Starkey

3. The principal activities of the company in the course of the financial year were: Consumer advocacy for the blind people in Australia.

No significant change in the nature of these activities occurred during the year.

4. The net amount of the deficit amounted to $6,328.00
5. The directors recommend that NIL should be paid by way of dividend. NIL has been paid or declared by way of dividend since the commencement of the financial year, of which NIL was provided for in the previous director’s report.
6. No director has received or become entitled to receive, during or since the financial year, a benefit because of a contract made by the company, controlled entity or a related body corporate with a director, a firm of which a director is a member or an entity in which a director has a substantial financial interest.

Signed in accordance with a resolution of the directors.

Director ________________________________ Karen L. Knight

Director ________________________________ Leighton J .Boyd

Dated this 2^nd day of September 2002

In the opinion of the directors of the company:

1. (a) The Profit and Loss account is drawn up so as to give a true

and fair view of the profit or loss of the company for the financial year ended 30^th June 2002.

(b) The Balance Sheet is drawn up so as to give a true and fair view of the state of affairs of the company as at the end of that financial year.

2. At the date of this statement, there are reasonable grounds to believe that the company will be able to pay its debts as and when they fall due.
3. (a) The company has kept such accounting records as correctly

2. The company has kept its accounting records in such a manner as would enable true and fair accounts of the company to be prepared from time to time.
3. The company has kept its accounts in such a manner as would enable the accounts to be conveniently and properly audited in accordance with the Corporations Law.
4. The accounts have been properly prepared by a competent person.

This statement is made in accordance with the resolution of the Board of Directors and is signed for and on behalf of the directors by:

Director ________________________________ Karen L. Knight

Director ________________________________ Leighton J. Boyd

Dated this 2^nd Day of September 2002

2002 2001

Agency Grants 67,000 48,500

Bequests - 2,461

Charged Services 11,868 -

Donations - 29,806

E-Commerce Project 10,725 -

General Fundraising 38,627 -

Government Funding (FACS) 160,000 -

Grant – Jeffrey Blythh Foundation - 9,000

Interest & Dividends Received 2,227 5,546

Lottery Fundraising 160,635 146,444

Membership/Organisational Membership 2,855 -

National Convention 47,511 3,500

National Policy Service Reimbursements 4,783 -

NSW Project 35,139 -

Project Grants 7,000 378,067

Project Reimbursements (including Victoria) 93,753 219,237

Specific Purpose Income 36,298 16,834

Tedicore Project 91,297 -

Victorian Service - 9,000

World Blind Union Project 36,609 -

World Blind Union Women's Committee 20,191 -

826,517 868,395

LESS EXPENSES

Accounting Service & Support - 640

Accounting, Audit & Legal Fees 8,561 6,314

AGM Expenses 2,954 4,363

Bank Charges 1,228 8,106

BCA Newsletter 21,737 19,312

Branch Support 2,976 -

Credit Card Charges 365 -

Communication (Internet/E-mail) 3,838 3,453

Contents, Volunteer, Directors Insurance 6,011 3,910

Depreciation 19,072 23,143

E-Commerce Project Expenses 25,023 -

Freight 39 -

General Fundraising Expenses 3,696 -

Goods on Hire/Hire of Facilities 455 -

Interest 92 -

Lottery Expenses 127,033 92,002

Maintenance & Equipment 5,590 10,094

Meetings & Conferences 280 5,474

Membership Support - 548

National Advocacy Service Expenses 35,419 -

National Convention 42,072 -

National Policy Service Expenses 59,333 -

NSW Project Expenses 13,108 -

Postage 5,831 6,392

Printing & Stationery 20,421 14,027

Professional Development 260 -

Project Expenses - 10,415

Project Consultant - 77,070

Rent & Services 15,000 21,883

Salaries & Wages 172,883 348,846

Soundabout Communications 5,864 2,056

Sponsorships 225 7,220

Staff Amenities 995 2,054

Staff Training & Recruitment - 4,696

Subscriptions, Publications & Membership 5,656 12,161

Sundries 169 1,243

Superannuation 16,741 27,742

Tasmania Project Expenses 26,470 -

Tedicore Project Expenses 99,276 -

Telephone 19,023 30,846

Travel & Accommodation 21,454 76,398

Travel, Accommodation - Board 7,779 -

Travel, Accommodation - NPDC 11,210 -

Workers Compensation 8,382 10,421

World Blind Union Project 16,324 -

The accompanying notes form part of these financial accounts.

These accounts should be read in conjunction with the attached disclaimer.

2002 2001

$ $

Opening Balance 222,115 184,549

Surplus/Deficit for period (6,328) 37,566

Total Funds 215,787 222,115

Represented by:

Cash on Hand - 120

Cash at Bank 83,339 61,920

Receivables 8,813 37,301

92,152 99,341

NAB 72,919 45,329

Trust Co of Australia 40,000 40,000

112,919 85,329

Furniture & Fittings 9,353 10,146

Plant & Equipment 26,330 34,705

Computer Equipment 17,151 26,574

52,834 71,425

Creditors & Accruals 4,000 28,658

Prepaid income 28,100 -

Provision for annual leave 10,018 5,322

The accompanying notes form part of these financial accounts.

These accounts should be read in conjunction with the attached disclaimer.

1. This is not a general purpose financial report. It is a special purpose report prepared for the members of the company to enable compliance with the requirements of the Corporations Law and the Income Tax Assessment Act 1936. The accounts have been prepared in accordance with the requirements of the Corporations Law and the Income Tax Assessment Act 1936. The accounts have been prepared in accordance with requirements of the Corporations Law including the disclosure requirements of Schedule 5. The accounts have been prepared from historical cost records, except where stated otherwise. The accrual and going concern basis of accounting have been adopted.
2. Property, Plant and Equipment

Property, Plant and Equipment are included at cost, independent of directors’ valuation. All assets, excluding freehold land and buildings are depreciated over their useful lives or depreciation rates set by the Commissioner of Taxation.

3. Inventories

Inventories are measured at the lower cost and net realisable value. Costs are assigned on a first-in first-out basis and include direct materials, direct labour and an appropriate proportion of variable and fixed overhead expenses.

4. Unearned revenue

The unearned revenue shown in the accounts will be brought to account over the life of the contract based on the interest rate implicit in the contract.

6. Income Tax

The income of the Company is exempt from income tax by virtue of Section 23 (e) of the Income Tax Assessment Act.

7. Employee Benefits

In accordance with its Memorandum and Articles of Association the Company has no less than seven members and each member undertakes to contribute a maximum of $2 in the event of winding up.

NOTE 3: OPERATING PROFIT 2002 2001

Operating suplus has been determined after:

Charge as Expense:

Auditors Remuneration - auditing accounts 1,600 1,400

- other services - -

Capital profit on sale of investments - -

Included in Current Receivables are:

Term debtors - -

Less unearned revenue - -

Freehold land and building - -

Directors’ valuation 19 - -

Plant and equipment at cost 182,161 181,680

Less accumulated depreciation 129,327 110,255

________ ________

52,834 71,425

________ ________

We have audited the accounts set out on the accompanying Profit and Loss Statement, Balance Sheet and Cash Flow Statement and the Notes to and forming part of the Accounts in accordance with Australian Audit Standards.

In our opinion the accounts of Blind Citizens Australia are properly drawn up:

1. So as to give a true and fair view of:

1. The company’s state of affairs as at 30^th June 2002 and of its surplus for the period ended on that date: and
2. The other matters required by Division 4 part 3.6 of the Corporations Law to be dealt with the accounts:

1. In accordance with the provisions of the Corporation Law: and
2. In accordance with the Statements of Accounting Concepts and applicable Accounting Standards.

MCDONNELL CUNNEEN & ASSOCIATES

Signed by Brent Murphy

Registered Company Auditor