1

ANNUAL%
REPORT%
%
For%the%year%ended%%
31%December%2014%
 2
MELBOURNE)PRESS)CLUB)
Contents))

)
President’s)Report)2014) ) ) Page)3)
)
Treasurer’s)Report)2014) ) ) Page)4)
) ) ) )
Events)Calendar)2014) ) ) Page)5)
)
Board))2014))) ) )) ) Page)6)
)
Quill)Awards)2014) ) ) ) Page)7H8)
)
MPC)Sponsors)2014) ) ) Page)9)
)
Financial)Report)2014) ) ) Page)10)
) )
 3
MELBOURNE)PRESS)CLUB)
President’s)Report)2014)
)
2014 was a truly legendary year for the Melbourne Press Club.

In October 31 towering industry figures were added to the Victorian Media Hall of Fame in one of
most successful events of the Press Club’s 43 year history.
Laurie Oakes, Les Carlyon, Jana Wendt and Phillip Adams were among those accepting the honour
and talking about their inspiring careers in front of a crowd of more than 400 people at Melbourne’s
Grand Hyatt hotel. The dinner capped off the first stage of the Hall of Fame, a project that will be
expanded nationally in the years ahead.

Equally successful was the annual Quill awards in March. Nearly 600 people packed Crown’s
Palladium to celebrate excellence in Victorian journalism. The Herald Sun’s James Campbell took
home the Gold Quill while the Age’s Caroline Wilson was named the Graham Perkin Journalist of the
Year for her stand-out coverage of the Essendon crisis. News-reading legend Mal Walden fittingly
received a Lifetime Achievement Award.

The Club attracted a range of high profile speakers for its 2014 lunch events. We kicked off the year
with a nationally televised speech by Opposition Leader Bill Shorten. We also heard from Premier
Denis Napthine, Fairfax CEO Greg Hywood, former News Corp Australia CEO Kim Williams and the
US Ambassador to Australia, John Berry.

It wasn’t always serious. Rob Sitch and Santo Cilauro put on quite a show in our joint lunch with the
Melbourne Theatre Company and talkback titans Neil Mitchell went at it during a lively discussion
about their decades-old radio rivalry.

All the Club’s activities were made possible by the continued and generous support of our sponsors,
including principal sponsor Monash University and premium sponsors Crown Resorts, Minter Ellison
and RACV.

We also welcomed on board new sponsors: AAP, MediaXpress and the Eileen Berry Trust.

2014 was our first full year with a Chief Executive at the helm and my thanks to Mark Baker for an
exceedingly successful twelve months. New sponsors and robust attendances at club events have
helped secure our future.

Mark has been more than ably assisted by a professional team including Kate Handley, Anna Marulli
and Jenny Denton.

After several years of dedicated service, we farewelled from the board News Corp’s Toni
Hetherington. Toni’s energy and ideas will be sorely missed. My thanks too to the Nine Network’s
Gemma Thomas for the enthusiasm she brought to boardroom discussions during her time with us. We
welcomed to the board News Corp’s Nick Richardson, Nine’s Jonathan Kearsley and Seven’s Drew
Warne-Smith.

I would like to express my appreciation to all of my fellow board members for their tireless efforts in
helping make the Melbourne Press Club the respected organisation it is today.

Michael%Rowland%

MPC%President%%
Melbourne%Press%Club%
24%July%2015%
 4
MELBOURNE)PRESS)CLUB)
Treasurer’s)Report)2014)
)
)
)
%

%
David%Poulton%
Treasurer%
Melbourne%Press%Club%
24%July%2015%
 5
MELBOURNE)PRESS)CLUB)
Events)Calendar)2014)
%
) CORPORATE)LUNCHES) MEDIA)LUNCHES) OTHER)EVENTS)
%
January) % % %
) % %
February) Bill%Shorten%Lunch%–%114ppl) % %
) Crown%Palladium% %
) 20/2/14% %
March) % % Quill%Awards%Dinner%–%635ppl%
) Crown%Palladium%
21.3.2013%
%
April) % Quills%Winners%Lunch%–% Lunch%with%US%Ambassador%
) 58ppl% John%Berry%–%18ppl)
) Metropolitan%Hotel%% Minter%Ellison%Board%Room%
16/4/14% 8/4/14%
Thai%Journalist%Chutima%
Sidasathian%–%57ppl%
Metropolitan%Hotel%
29/4/14%
May) The%Speechmaker%MTC%Lunch% % %
) Langham%Hotel%–%141ppl%
) 28/7/14%
June) Faine%v%Mitchell%Lunch%–%142ppl% Transparency% EC%Vice%President%Neelie%
) Crown%Promenade% International%–%Huguette% Kroes%Z%120ppl)
) 12/6/14% Labelle%–%84ppl) RMIT%University%
Metropolitan%Hotel% 18/6/14%
19/6/14%
%
July) Greg%Hywood%Lunch%–%100ppl% Ron%Iddles%Lunch%Z% %
) Oaks%on%Collin% 98ppl%
) 18/7/14% Metropolitan%Hotel%
% 31/7/14%
August) % % Melbourne%Day%Lunch%–%
) 130ppl%
) RACV%Club%
30/8/14%
September) % Kim%Williams%–%72)ppl% %
) Mr%Hive,%Crown% %
) 3/9/14%
October) US%Ambassador%John%Berry%–%% Melbourne%Cup%Lunch% Hall%of%Fame%dinner%–%%
) 90)ppl) Mr%Hive%or%Metropolitan% Grand%Hyatt%
) Palladium%C3,%Crown% 30/10/14%H)CANCELLED% 10/10/14%
29/10/14% Evening%at%The%Shrine%–%%
96)ppl%
28/10/148%
%
November) Transport%Debate%–%103)ppl% Geraldine%Douge%Book% Windsor%Cocktail%Party%for%Hall%
) Crown%River%Room% Launch%–%Corrie’s% of%Fame%Book%Media%Legends%
) 12/11/14% bookshop% 30ppl)
% 10/11/14%(evening)% Windsor%Hotel,%13/11/14%
Denis%Napthine%–%100)
ppl%
Mr%Hive%Kitchen%&%Bar%
25/11/14%
 6
MELBOURNE)PRESS)CLUB)
Board)2014)
)
)
)
)
President:) ) ) Michael)Rowland,)ABC%
%
CEO:%% % % % Mark)Baker,%Melbourne%Press%Club%
)
Vice)Presidents:) ) Eileen)Berry,%The%Eileen%Berry%Trust)
) ) ) ) Philip)Chubb,%Monash%University%
) ) ) ) ) ) ) ) )
Treasurer:) ) ) David)Poulton,)Minter%Ellison)
)
Secretary:) ) ) Richard)Leder,)Corrs%Chambers%Westgarth%
)
Committee:) ))
David)Broadbent,)Broadbent%Media%Services) )
Rob)Curtain,)3AW%
Alicia)Hall,)Project%PR%
Olivia)HillHDouglas,)Network%Ten%
Bob)Kearsley,)Business%Essentials%
Jonathan)Kearsley,)Nine%News%
Pat)O’Beirne,%Haystac))
Isabelle)Oderberg,)Australian%Red%Cross%
Mike)Osborne,%AAP%
Justin)Quill,)M+K%Lawyers%
Nick)Richardson,%News%Limited%
Veronica)Scott,)Minter%Ellison%
Mike)Smith,)Inside%PR%
Drew)WarneHSmith,%Seven%Network%
)
 7
MELBOURNE)PRESS)CLUB)
Quill%Awards%Honour%Roll%2014%
__________________________________________________________________________)

The)Monash)University)Gold)Quill)
Adele%Ferguson,%Deb%Masters%&%Mario%Christodoulou%|%The$Age$&%ABC$Four$Corners$$
%
The)Graham)Perkin)Award)for)the)Australian)Journalist)of)the)Year)
Chris%Reason%|%Seven$Network$
%
Lifetime)Achievement)Award)
Derryn%Hinch%
)
Victorian)Government)Quill)for)Reporting)on)Disability)Issues)
Nick%McKenzie,%Richard%Baker,%Peter%Cronau,%Karen%Mitchelmore,%Max%Murch%%
ABC$Four$Corners$&$The$Age$
%
Young)Journalist)of)the)Year)Award)
Alexis%Daish%|%Nine$Network$
%
RACV)Transport)Quill)
Josh%Gordon%&%Henrietta%Cook%|%The$Age$$
%
Grant)Hattam)Quill)Award)for)Investigative)Journalism)in)any)Medium)
Ruth%Lamperd%|%Herald$Sun$
%
Keith)Dunstan)Quill)for)Best)Columnist/Blogger)
John%Silvester%|%The$Age$
)
Best)Sports)News)Story)in)any)Medium)
Patrick%Bartley%|%The$Age$
%
Best)Sports)Feature)in)any)Medium)
Jake%Niall%|%The$Age$
%
Best)Business)Story)in)any)Medium)
Adele%Ferguson,%Deb%Masters%&%Mario%Christodoulou%|$The$Age$&%ABC$Four$Corners$$
%
Best)Camerwork)
Phil%Loschiavo%|%Seven$News$
%
Best)News)Photograph)
Wayne%Ludbey%|%Herald$Sun$
%
Best)Sports)Photograph)
Colleen%Petch%|%Herald$Sun$$
%
Best)Features)Photograph)
Eddie%Jim%|%The$Age$
%
Best)Three)Headlines)in)any)Medium)
Warwick%McFadyen%|%%The$Age$
%
Best)Illustration)or)Graphics)in)any)Medium)
Jim%Pavilidis%|%The$Age$$
 8
%

Best)Coverage)of)an)issue)or)Event)
Ruth)Lamperd)&)Monique)Hore)|)Herald%Sun%

Best)Cartoon)
Ron%Tandberg%|%The$Age$

Best%Breaking%News%Coverage%
Damon%Johnston,%Gary%Oxley,%Nathaniel%Bane%&%Kiah%Doodie%|%Herald$Sun$
%
Best)Use)of)the)Digital)or)Social)Media)
Tom%McKendrick,%Felicity%Lewis,%Bridie%Smith,%Mark%Stehle,%Joe%Benke%&%Nathanael%%Scott%|%
theage.com.au$
%
Best)Suburban)Report)in)Writing)
Dana%McCauley%&%Fiona%Sexton%|%Port$Phillip$Leader$
%
Best)Regional)or)Rural)Affairs)Report)in)any)Medium)
Sue%Neales%|%The$Australian$
%
Best)TV)or)Video)News)Report)
Laura%Turner%|%Nine$News$
%
Best)Radio)News)Report)
Yvette%Gray%|%3AW$
%
Best)TV)or)Video)Current)Affairs/Feature)under)10)Minutes)
James%Bennett%and%Simon%Winter,%7:30$–$ABC$
%
Best)TV)or)Video)Current)Affairs/Feature)over)10)Minutes)
Ali%Russell,%Caro%MeldrumUHanna,%Max%Murch%and%Clare%Blumer%|%ABC$Four$Corners$

Best%Radio%Current%Affairs%Report%
Neil%Mitchell,$3AW$
%
Best)News)Report)in)Writing)
Richard%Baker,%Nick%McKenzie%|%The$Age$
%
Best)Feature)in)Writing)
Jewel%Topsfield%|%The$Age$
 9
MELBOURNE)PRESS)CLUB)
Sponsors)2014)

)
)
The Melbourne Press Club
Incorporated
ABN 2771 3079 515

Financial report
For the year ended 31 December
2014

Pitcher Partners
Level 19
15 William Street
Melbourne  VIC  3000
Telephone  (03) 8610 5000
 TABLE OF CONTENTS

Committees' report ............................................................................................................................. 1 ‐ 2
Financial report
Statement of comprehensive income ....................................................................................... 3
Statement of financial position ................................................................................................. 4
Statement of changes in members funds .................................................................................. 5
Statement of cash flows ............................................................................................................ 6
Notes to financial statements ................................................................................................... 7 ‐ 11
Statement by members of the committee .......................................................................................... 12
Independent auditor's report .............................................................................................................. 13 ‐ 15
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

COMMITTEES' REPORT

The committee members present their report together with the financial report of The Melbourne Press
Club Incorporated for the year ended 31 December 2014 and auditor's report thereon. This financial report
has been prepared in accordance with Australian Accounting Standards.

Committee members names
The names of the committee members in office at any time during or since the end of the year are:
Michael Rowland (ABC Breakfast): President 
Mark Baker (Fairfax Media): Chief Executive Officer 
Phil Chubb (Monash University): Vice President 
Eileen Berry (MMP): Vice President 
David Poulton (Minter Ellison): Treasurer 
Richard Leder (Corrs Chambers Westgarth): Secretary 
Anna Marulli: Secretariat 
Jenny Denton: Secretariat 
Rob Curtain (3AW) 
Olivia Hill‐Douglas (Ten Network) 
Bob Kearsley (Business Essentials) 
David Broadbent (Dept of Business & Innovation) 
Veronica Scott (Minter Ellison) 
Pat O'Beirne (Haystac) 
 Mike Smith (Inside PR)
Isabelle Oderberg (News Ltd) 
Justin Quill (Kelly Hazell Quill) 
Alicia Hall (Project PR) 
Mike Osborne (AAP) Appointed: 1 March 2014
Nick Richardson (News Ltd) Appointed: 1 April 2014
Jonathan Kearsley (Nine News) Appointed: 1 July 2014
Leanne Lane Resigned: 28 February 2014
Toni Hetherington (News Ltd) Resigned: 31 July 2014
Gemma Thomas (Nine News) Resigned: 31 July 2014
Rowan Callick (The Australian) Resigned: 31 July 2014

‐ 1 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

COMMITTEES' REPORT

Committee members names (Continued)

The committee members have been in office since the start of the year to the date of this report unless
otherwise stated.

Results
The surplus of the association for the year amounted to $38,651.

Review of operations
The association continued to engage in its principal activity, the results of which are disclosed in the
attached financial statements.

Significant changes in state of affairs
There were no significant changes in the association's state of affairs that occurred during the financial year,
other than those referred to elsewhere in this report.

Principal activities
The principal activity of the association during the year were:

‐ Annual Quill Awards for Excellence in Victorian Journalism;
‐ Social functions for members;
‐ Journalism conferences;
‐ Regular club lunches with high profile speakers; and
‐ Forums for debate on professional issues.
No significant change in the nature of these activities occurred during the year.

Signed in accordance with a resolution of the members of the committee.

Committee member:
Mr David Poulton

Dated this day of 2015

‐ 2 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2014

Note 2014 2013

$ $

Revenue and other income
Sales revenue 2 552,249 440,720
Other revenue 2 20,039 19,125
572,288 459,845
Less: expenses
Depreciation and amortisation expense 3 (1,262) (896)
Employee benefits expense (209,923) (152,089)
Finance costs 3 (449) (170)
Sponsorship, conference and function expense (271,252) (295,719)
Other expenses (50,751) (47,799)
(533,637) (496,673)
Surplus / (deficit) 38,651 (36,828)
Other comprehensive income for the year ‐ ‐
Total comprehensive income 38,651 (36,828)

The accompanying notes form part of these financial statements.
‐ 3 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2014

Note 2014 2013

$ $

Current assets
Cash and cash equivalents 4 89,699 22,765
Other assets 5 9,961 30,341
Total current assets 99,660 53,106

Non‐current assets
Intangible assets 6 9,837 ‐
Property, plant and equipment 7 2,014 2,686
Total non‐current assets 11,851 2,686
Total assets 111,511 55,792

Current liabilities
Payables 8 38,805 41,843
Provisions 9 10,934 8,549
Other liabilities 10 39,096 21,426
Total current liabilities 88,835 71,818

Non‐current liabilities
Provisions 9 51 ‐
Total non‐current liabilities 51 ‐
Total liabilities 88,886 71,818
Net assets 22,625 (16,026)

Members funds
Accumulated surplus / (losses) 11 22,625 (16,026)
Total members funds 22,625 (16,026)

The accompanying notes form part of these financial statements.
‐ 4 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

STATEMENT OF CHANGES IN MEMBERS FUNDS
FOR THE YEAR ENDED 31 DECEMBER 2014

Accumulated
Contributed surplus /
equity Reserves (losses) Total equity
$ $ $ $

Balance as at 1 January 2013 ‐ ‐ 20,802 20,802

Deficit for the year ‐ ‐ (36,828) (36,828)
Total comprehensive income for the year ‐ ‐ (36,828) (36,828)

Balance as at 31 December 2013 ‐ ‐ (16,026) (16,026)

Balance as at 1 January 2014 ‐ ‐ (16,026) (16,026)

Surplus for the year ‐ ‐ 38,651 38,651
Total comprehensive income for the year ‐ ‐ 38,651 38,651

Balance as at 31 December 2014 ‐ ‐ 22,625 22,625

The accompanying notes form part of these financial statements.
‐ 5 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2014

Note 2014 2013

$ $

Cash flow from operating activities
Receipts from sponsorship, membership fees and other income 647,144 508,451
Payments to suppliers and employees (569,373) (520,290)
Interest received 39 34
Finance costs (449) (170)
Net cash from operating activities 77,361 (11,975)

Cash flow from investing activities
Payment for non current assets (10,427) ‐
Net cash used in investing activities (10,427) ‐

Reconciliation of cash
Cash at beginning of the financial year 22,765 34,740
Net decrease in cash held 66,934 (11,975)
Cash at end of financial year 89,699 22,765

The accompanying notes form part of these financial statements.
‐ 6 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

The financial report is a general purpose financial report that has been prepared in accordance with
Australian Accounting Standards ‐ Reduced Disclosure Requirements, Interpretations and other applicable
authoritative pronouncements of the Australian Accounting Standards Board and the Associations
Incorporation Reform Act 2012 (and its associated Regulations).
The financial report was approved by the committee as at the date of the committees' report.
The Melbourne Press Club Incorporated is a not‐for‐profit entity for the purpose of preparing the financial
statements.
The following is a summary of the material accounting policies adopted by the association in the preparation
and presentation of the financial report. The accounting policies have been consistently applied, unless
otherwise stated.

(a) Basis of preparation of the financial report

Historical Cost Convention
The financial report has been prepared under the historical cost convention, as modified by revaluations to
fair value for certain classes of assets as described in the accounting policies.

(b) Going concern

The Committee have prepared the financial report on a going concern basis, which contemplated continuity
of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course
of business.
The entity earned a profit of $38,561 for the year ended 31 December 2014, and total members funds are
$22,625. Liabilities include revenue deferred to the subsequent year of $39,096. The financial position has
improved significantly during the year ended 31 December 2014 however the entity still relies on obtaining
inflows from membership, sponsorship and events, the receipt of which is uncertain. The entity is solely
dependent upon the committee's continuing ability to obtain such contributions and manage expenditures
within this constraint.
The financial report does not include any adjustment relating to the recoverability or classification of
recorded asset amounts nor to the amounts or classification of liabilities that might be necessary should the
entity be unable to obtain sufficient inflows  to continue as a going concern.
If the going concern basis of accounting is found to no longer be appropriate, the recoverable amount of the
assets shown in the  Statement of Financial Position are likely to be significantly less than the amounts
disclosed and the extent of liabilities may differ significantly from those reflected.

‐ 7 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(c) Revenue

Revenue from services is recognised upon provision of the underlying services to the recipients.
Interest revenue is recognised  as the right to receive the income arises
Sponsorship revenue is recognised in accordance with the provision of underlying services or benefits to the
sponsor. To the extent that sponsorship is non reciprocal the revenue is recognised upon obtaining control
of the amount.

Membership revenue is recognised based upon the underlying nature of membership services, and
accordingly is recognised upon receipt.

(d) Intangibles

Other intangibles
Other intangible assets other than those acquired in a business combination are initially recorded at cost.
Other intangible assets are amortised on a straight line basis over the period of 3 years. The balances are
reviewed annually and amounts are written off to the extent the realisable future benefits are considered to
be no longer probable.

(e) Comparatives

Where necessary, comparative information has been reclassified and repositioned for consistency with
current year disclosures.

2014 2013
$ $
NOTE 2: REVENUE AND OTHER INCOME
Functions 202,074 161,797
Membership fees 21,759 17,317
Sponsorships 328,416 261,606
Interest income 39 34
Quills prize money 20,000 19,091
572,288 459,845

‐ 8 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014

2014 2013
$ $

NOTE 3: OPERATING PROFIT/ LOSS

Profit / (losses) has been determined after:
Finance costs 449 170
Depreciation & amortisation 1,262 896
Employee benefits 209,923 152,089

NOTE 4: CASH AND CASH EQUIVALENTS
Cash at bank 89,699 22,765

NOTE 5: OTHER ASSETS

CURRENT
Prepayments 9,961 30,341

NOTE 6: INTANGIBLE ASSETS
Computer software at cost 10,427 ‐
Accumulated amortisation and impairment (590) ‐
9,837 ‐

The remaining amortisation period for the computer software is 2 years.

(a) Reconciliations

Reconciliation of the carrying amounts of intangible assets at the beginning
and end of the current financial year

Computer software at cost
Opening balance ‐ ‐
Additions 10,427 ‐
Amortisation expense (590) ‐
Closing balance 9,837 ‐

Amortisation expense in relation to intangible assets is included within depreciation and amortisation
expenses in the statement of comprehensive income.

‐ 9 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014

2014 2013
$ $

NOTE 7: PROPERTY, PLANT AND EQUIPMENT

Plant and equipment
Plant and equipment at cost 8,506 8,506
Accumulated depreciation (6,492) (5,820)
Total property, plant and equipment 2,014 2,686

(a) Reconciliations

Reconciliation of the carrying amounts of property, plant and equipment at
the beginning and end of the current financial year

Plant and equipment
Opening carrying amount 2,686 3,582
Depreciation expense (672) (896)
Closing carrying amount 2,014 2,686

NOTE 8: PAYABLES

CURRENT
Unsecured liabilities
Trade creditors 9,604 36,416
Sundry creditors and accruals 29,201 5,427
38,805 41,843

NOTE 9: PROVISIONS

CURRENT
Employee benefits (a) 10,934 8,549

NON CURRENT
Employee benefits (a) 51 ‐

(a) Aggregate employee benefits liability 10,985 8,549

NOTE 10: OTHER LIABILITIES

CURRENT
Sponsorships received in advance 39,096 21,426

‐ 10 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

NOTES TO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014

2014 2013
$ $

NOTE 11: ACCUMULATED SURPLUS / (LOSSES)
Accumulated surplus / (losses) at beginning of year (16,026) 20,802
Surplus / (deficiency) 38,651 (36,828)
22,625 (16,026)

‐ 11 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

STATEMENT BY MEMBERS OF THE COMMITTEE

In the opinion of the committee the financial report as set out on pages 3 ‐ 11:
1. Presents fairly the financial position of The Melbourne Press Club Incorporated as at 31 December 2014
and performance for the year ended on that date in accordance with the Australian Accounting
Standards ‐ Reduced Disclosure Requirements and other mandatory professional reporting
requirements.
2. At the date of this statement, there are reasonable grounds to believe that The Melbourne Press Club
Incorporated will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the committee and is signed for and on behalf of
the committee by:

Treasurer: 
Mr David Poulton

Dated this day of 2015

‐ 12 ‐
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE MELBOURNE PRESS CLUB INCORPORATED

We have audited the accompanying financial report of The Melbourne Press Club Incorporated, which
comprises the statement of financial position as at 31 December 2014, the statement of comprehensive
income, statement of changes in members funds and statement of cash flows for the year then ended, notes
comprising a summary of significant accounting policies and other explanatory information, and the
governing commitee's declaration.

Responsibility of Those Charged with Governance
The governing committee is responsible for the preparation of the financial report that gives a true and fair
view in accordance with Australian Accounting Standards ‐ Reduced Disclosure Requirements and the
Corporations Act 2001 and the financial reporting requirements of the Associations Incorporation Reform
Act (2012) and for such internal control as the governing committee determines is necessary to enable the
preparation of the financial report that gives a true and fair view and is free from material misstatement,
whether due to fraud or error.

Auditor's Responsibility
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our
audit in accordance with Australian Auditing Standards. Those standards require that we comply with
relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain
reasonable assurance about whether the financial report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial report. The procedures selected depend on the auditor's judgement, including the assessment of
the risks of material misstatement of the financial report, whether due to fraud or error. In making those
risk assessments, the auditor considers internal control relevant to the association’s preparation of the
financial report that gives a true and fair view in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the association's
internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by the governing committee, as well as evaluating the overall
presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion.

Independence
In conducting our audit, we have complied with the independence requirements of the Corporations Act
2001.

‐ 13 ‐
An independent Victorian Partnership ABN 27 975 255 196 Pitcher Partners is an association of independent firms
Liability limited by a scheme approved under Professional Standards Legislation Melbourne | Sydney | Perth | Adelaide | Brisbane | Newcastle
An independent member of Baker Tilly International
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE MELBOURNE PRESS CLUB INCORPORATED

Opinion
In our opinion, the financial report of The Melbourne Press Club Incorporated is in accordance with the
Corporations Act 2001, including:
(a) giving a true and fair view of the association's financial position as at 31 December 2014 and of its
performance for the year ended on that date; and
(b) complying with Australian Accounting Standards ‐ Reduced Disclosure Requirements and the
Corporations Regulations 2001 and the financial reporting requirements of the Associations
Incorporation Reform Act (2012).

‐ 14 ‐
An independent Victorian Partnership ABN 27 975 255 196 Pitcher Partners is an association of independent firms
Liability limited by a scheme approved under Professional Standards Legislation Melbourne | Sydney | Perth | Adelaide | Brisbane | Newcastle
An independent member of Baker Tilly International
 THE MELBOURNE PRESS CLUB INCORPORATED
ABN 2771 3079 515

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF THE MELBOURNE PRESS CLUB INCORPORATED

Emphasis of Matter
Without qualifying our opinion, we draw attention to Note  in the financial report which indicates that the
Committee have prepared the financial report on a going concern basis, which contemplated the continuity
of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course
of business.

The Committee have prepared the financial report on a going concern basis, which contemplated continuity
of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course
of business.

The entity earned a profit of $38,651 for the year ended 31 December 2014, and total members funds are
$22,625. Liabilities include revenue deferred to the subsequent year of $39,096. The financial position has
improved significantly during the year ended 31 December 2014 however the entity still relies on obtaining
inflows from membership, sponsorship and events, the receipt of which is uncertain. The entity is solely
dependent upon the committee's continuing ability to obtain such contributions and manage expenditures
within this constraint.

The financial report does not include any adjustment relating to the recoverability or classification of
recorded asset amounts nor to the amounts or classification of liabilities that might be necessary should the
entity be unable to obtain sufficient inflows  to continue as a going concern.

If the going concern basis of accounting is found to no longer be appropriate, the recoverable amount of the
assets shown in the  Statement of Financial Position are likely to be significantly less than the amounts
disclosed and the extent of liabilities may differ significantly from those reflected.

The situation indicates the existence of a material uncertainty that may cast significant doubt about the
entity's abilitiy to continue as a going concern and therefore, the entity may be unable to realise its assets
and discharge its liabilities in the normal course of business.

M J HARRISON PITCHER PARTNERS
Partner Melbourne

Date 

‐ 15 ‐
An independent Victorian Partnership ABN 27 975 255 196 Pitcher Partners is an association of independent firms
Liability limited by a scheme approved under Professional Standards Legislation Melbourne | Sydney | Perth | Adelaide | Brisbane | Newcastle
An independent member of Baker Tilly International