MPC 2019 Annual Report

1
ANNUAL
REPORT
For the year ended
31 December 2019
2
MELBOURNE PRESS CLUB

Contents
P e iden Re 2019 Page 3
T ea e Re 2019 Page 4
Events Calendar 2019 Page 5
Board 2019 Page 6
Quill Awards 2019 Page 7-8
MPC Sponsors 2019 Page 9
Financial Report 2019 Page 10

3

P e iden Re 2019
M a P
If I only I had had a crystal ball at the start of this year.
(1) Changing of the guard: We welcomed Cathy Bryson as CEO in April. Cathy has spent a
successful six years at the National Press Club of Australia. As we head into our 50th year (2021),
we have a bright future ahead of us.
(2) W : a a a a a a F a every day of the week.

We had just patted ourselves on the back for getting through the Quill entries (Jan), Quill judging
(Feb) and Quills presentation (Mar), when the whole world was turned upside down, but you all
know that.
(3) Digital webinars: I have to say, for one, I have missed meeting our guests, members and
sponsors at our regular monthly lunches. Crowd favourites and I may be biased here Ross
Ga a a J Fa b a a b a a
with fac . O , a b ab
engagement with technology through these strange times.
Cathy in her CEO message has covered off some of our amazing achievements over the past 12
months. There is so much more to say but a couple of honourable mentions: our collaboration with
the Asia Pacific Journalism Centre (the trip to China thankfully happened in November); the second
round of the Michael Gordon Journalism Fellowships program ran; and a special Quill for 2020 only,
Fa B b Ma C bb a A a a .
Amen.
But, our club is nothing without its members, sponsors and supporters. We value each and every
one of you and thank you for your on-going commitment to journalistic advancement & integrity. A
special mention to the MPC team who work tirelessly behind the scenes to bring you quality events
and information.
Our Golden Birthday year will be a ripper: Quills, Hall of Fame and a big birthday bash (or perhaps
lots of little ones). Getting to 50 is a huge milestone and we are very bullish about the future. Long
may we live.
Eileen Berry
President
Melbourne Press Club
4

T ea e Report 2019
Following a strong performance in 2018, the Club continued to perform steadily although more modestly
in 2019.
Please refer to the financial statements for full details of the year's results.
We have continued to receive important and valuable support from our many continuing sponsors, with special
thanks as always to our principal sponsors Monash University and Virgin Australia, as well as for the pro bono
assistance from Hope & Glory during our CEO recruitment process.
The value of annual sponsorship income during the calendar year 2019 was $378,449, slightly down from
the previous year.
We have reported a small loss of $15,905. We retained a good cash position at the 2019 calendar year end
at $135,285. This in part reflects the ongoing generous donations to the Michael Gordon Fellowship program
supporting social justice journalism, with the money to be awarded each year for grants to the program, as
a a C b P b F .T P b F a ab C b
being granted Deductible Gift Recipient status in 2019. It will be used to offer fellowships, scholarships,
grants and to support other programs.
While the Club went into 2020 with reasonable cash reserves, a small member surplus and sponsorship
payments pending, the impact of the Covid-19 a a a a a C b
overall revenue for the coming year. The Club continues to remain fortunate that it has no significant ongoing
financial commitments other than salaries, Quill event venue deposit and office expenses, noting staff are
.H C b ab on securing ongoing
and sufficient sponsorship to meet these commitments as well as ongoing membership renewals.
The Quill Awards successfully took place before the Covid-19 restrictions, which enabled the Club to deliver
a key event for this calendar year for members and sponsors. It has confirmed the booking for the Quill
awards in 2021. Under its new CEO Cathy Bryson, and with the support of the Executive and the Board, the
Club is continuing to focus on engaging with sponsors and members, delivering events and generating
income.
The Club will at the appropriate time also need to find new offices in 2020 as its access to
M E a .M a M E a
many years.
The highlights of financial performance included:
M b a a $37,528. W a a a
process to encourage retention rates.
R a a a $158,628.
O a , ons ran at a modest profit.
Our small but hard working secretariat continued to perform well and my thanks to the team for their ongoing
support, particularly during the transition to our new CEO leadership under Cathy Bryson who we welcomed
on 8 April 2020. My thanks also to Mark Baker our outgoing CEO who departed on 23 October 2019, and to
E B a A CEO Ma a .
We have continued to observe the procedures required by our auditors to ensure that accounting and
association standards are met. I would like to thank our auditors, Pitcher & Partners, for their efficient and
a a a,a a C b a a a a
in order.
Veronica Scott
Treasurer
Melbourne Press Club
22 June 2020
5

Events Calendar 2019
CORPORATE LUNCHES MEDIA LUNCHES OTHER EVENTS
January
February 25 Feb The Edit (41 pax)

8 February Sally McManus Mr Hive
(100 pax)
March 1 March Banking Forum (100 pax) 15 March Quills Dinner

(574 pax)
28 March Lunch with Cricket Australia
CEO Kevin Roberts (99 pax)
April 3 April - Global Corruption Lunch with 29 April The Edit: Making
Delia Ferreira Rubio - Cancelled Sense of Data- (31 pax)
May 20 May The Edit:

28May - State Budget lunch 22 May George Johnson & Charmian
Documentaries & Journalism
Clift (66 pax) (40pax)
in partnership with VECCI:
(114 pax)
29 May Iftar Dinner (in
partnership with Intercultural
Society) (68 pax)
20 June Asha Society Lunch with Dr
June Kiran Martin (82 pax)
25 June Defending the Whistleblowers

(95 pax)
July 29 July The Edit: with

Cameron Stewart Campari
House (43 pax)
August 13 August - Rod Sims Digital Platform

Inquiry lunch (104 pax) 22 August Bob Rose lunch
23 August - 30th Anniversary of Sunday (16 pax)
Papers Dinner - (89 pax)
September 4 Sept - Allan Fels book launch (93

pax)
10 Sept - Annabel Crabb with lunch

Jamila Rizvi (98 pax)
October 2 Oct - Jon Faine farewell lunch (Sold 7 Oct The Edit: Alex
out) Ellinghausen (20 pax)
6 Nov Professor Ross Garnaut (78

November pax)
Board Year End dinner - 14

December
6

Board 2019
Acting President: Eileen Berry, Parenting Guides Limited (Nov 2019 until present)
President: Adele Ferguson, The Age (until Nov 2019)
Vice Presidents: Ashlynne McGhee, ABC (Nov 2019 until present)

Eileen Berry, The Eileen Berry Trust (until Nov 2019)
Michael Rowland, ABC (until Nov 2019)
Treasurer: Veronica Scott, KPMG (June 2019 until present)
Secretary: Richard Leder, Corrs Chambers Westgarth
Executive: Cathy Bryson, CEO (April 2020 to present)

Eileen Berry, Parenting Guides Limited (Nov 2019- April 2020)
Mark Baker, CEO (until Nov 2019)
Staff: Kate Handley, General Manager

Anna Marulli, Acting General Manager (August 2018 August 2019)
David Fisher, Assistant Manager
Will Kulich, Digital Producer (July 2019 to present)
Board:
Mark Baker, Inside Story
Eileen Berry, Parenting Guides Limited (Nov 2019 until present)
Rob Curtain, Communications Specialist
Patrick Considine, Minter Ellison (June 2019 until present)
Nicole Denton, 3AW
Rachael Dexter, The Age
Jude Donnelly, AFL (June 2019 until present)
Heather Loomes, Ten Network
Ashlynne McGhee, ABC
Kate McGrath, Nine Network (June 2019 until present)
Shaun Menegola, Seven News (June 2019 until present)
Heidi Murphy, 3AW Macquarie Radio
Pat O’Beirne, Six O’Clock Advisory
Justin Quill, M&K Lawyers
Tom Salom, News Corp
Veronica Scott, KPMG
Mike Osborne, Australian Associated Press (until Sep 2019)
Margaret Simons, Monash (until Dec 2019
7

Quills Honour Roll 2019
The Gold Quill

Michael Willson | AFL Media
The Graham Perkin Award for the Australian Journalist of the Year
Anne Connolly | ABC
Lifetime Achievement Award

Bruce McAvaney
Harry Gordon Australian Sports Journalist of the Year Award

Konrad Marshall | Good Weekend Magazine
Young Journalist of the Year Award

Sam Cucchiara | Nine News
Student Journalist of the Year Award

Liam Petterson | University of Melbourne
Artwork
Sam Mularczyk | Network Ten, The Project
RACV Transport Quill

Matthew Johnston, James Campbell, Tom Minear & Kieran Rooney | Herald Sun
The Grant Hattam Quill Award for Investigative Journalism

Andy Burns and Geoff Thompson | ABC 7.30
The Keith Dunstan Quill for Commentary

Waleed Aly | Network Ten & The Age
Sports News
Leo Schlink and Mark Buttler | Herald Sun
Sports Feature
Konrad Marshall | Good Weekend Magazine
Business News
Nick McKenzie, Grace Tobin & Nick Toscano | The Age/60 Minutes
Business Feature
Amy Bainbridge, Loretta Florance & Lucy Kent | ABC 7.30
News Photograph
Jason South | The Age
Sports Photograph
Michael Willson | AFL Media
Features Photograph
Jason South | The Age
Breaking News Coverage

Mike Amor, Sharnelle Vella, and Nick McCallum | 7News
Coverage of an Issue or Event

Chris Vedelago, Sumeyya Ilanbey & Cameron Houston | The Age
Cartoon
Jim Pavlidis | The Age
8
Regional & Rural Journalism

Charmayne Allison and Cath Grey | Riverine Herald
Suburban Journalism
Anthony Piovesan | Whittlesea Leader
TAC Towards Zero Quill for Road Safety Reporting

Cathy Jacobs, Ben Knight, Mary Gearin & Cameron Best | ABC
TV / Video News
Jayde Vincent | Nine News
TV / Video Feature (Long Form)

Rachael Brown, Josie Taylor, Chris Gillett & Greg Nelson | ABC 7.30
TV / Video Feature (Short Form)

Mimi Becker | Nine A Current Affair
TV Camera Work (Creative Camera Work)

Travis Nemtsas | Nine News
TV Camera Work (Shot of the Year)

Trigby Chvastek | Nine News
Radio Journalism (Long Form)

Rafael Epstein, Tess Armstrong, Kristian Silva & Erin Marsicovetere | ABC Radio Melbourne
Radio Journalism (Short Form)

Amy Bainbridge | ABC Radio AM
News Report in Writing

David Estcourt & Clay Lucas | The Age
Feature Writing
Tom Cowie | The Age
Innovation in Journalism
Margaret Burin, Nathan Hoad, Ben Spraggon & Matthew Liddy | ABC
Podcasting
Richard Baker, Rachael Dexter, Kate Cole-Adams & Siobhan McHugh | The Age
The VicHealth Quill for Coverage of Women in Sport

Lucy Carter | ABC 7.30
The Victorian Government Quill for Reporting on Cultural Diversity

Ian Burrows & Jason Fang | ABC News
The Victorian Government Quill for Reporting on Disability

Belinda Hawkins, Mark Farnell, Ian Harley & Vanessa Wiltshire | Australian Story & ABC News

9
Sponsors to December 2019

10
Financial Report 2019

__________________________________________________________________________
Melbourne Press Club Incorporated
ABN: 2771 3079 515
Financial report
For the year ended 31 December 2019
Pitcher Partners
Level 13, 664 Collins Street, Docklands VIC 3008
p: +61 3 8610 5000
TABLE OF CONTENTS
Board report ........................................................................................................................................ 1 - 3

Financial report
Statement of profit or loss and other comprehensive income ................................................. 4
Statement of financial position ................................................................................................. 5
Statement of changes in members funds .................................................................................. 6
Statement of cash flows ............................................................................................................ 7
Notes to financial statements ................................................................................................... 8 - 14
Statement by members of the Board .................................................................................................. 15
Independent auditor's report .............................................................................................................. 16 - 18
MELBOURNE PRESS CLUB INCORPORATED
ABN: 2771 3079 515
BOARD REPORT
The Board members present their report together with the financial report of The Melbourne Press Club
Incorporated ("The Association") for the year ended 31 December 2019 and auditor's report thereon.
Board members names

The names of the Board members in office at any time during or since the end of the year are:
Eileen Berry (The Eileen Berry Trust): Interim President
Ashlynne McGhee (ABC): Vice President
Richard Leder (Corrs Chambers Westgarth): Secretary
Veronica Scott (KPMG): Treasurer
Adele Ferguson (The Age): President, resigned 23/10/2019
Michael Rowland (ABC): Vice President, resigned 23/10/2019
David Poulton (Minter Ellison): Treasurer, resigned 26/06/2019
Mark Baker (Melbourne Press Club): CEO, resigned 23/10/2019
Jude Donnelly (AFL)
Pat O'Beirne (Six O'Clock Advisory)
Justin Quill (M&K Lawyers)
Tom Salom (News Corp)
Rob Curtain (Communications Specialist)
Heather Loomes (Network Ten)
Nicole Denton (Vic Roads)
Rachael Dexter (The Age)
Heidi Murphy (3AW)
Margaret Simons (Monash University)
Patrick Considine (Minter Ellison): joined 26/06/2019
Kate McGrath (Nine Network): joined 26/06/2019
Shaun Menegola (Seven Network): joined 28/03/2019
Simon Pristel (Seven News): resigned 26/06/2019
Bob Kearsley (Business Essentials): resigned 26/06/2019
David Broadbent (Broadbent Media): resigned 26/06/2019
Jonathan Kearsley (Nine News): resigned 26/06/2019
Mike Osborne (AAP): resigned 27/11/2019
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ABN: 2771 3079 515
BOARD REPORT
Board members names (Continued)
Executive:
Mark Baker: Chief Executive Officer, resigned 23/10/2019
Eileen Berry: Acting Chief Executive Officer
Anna Marulli: General Manager
Kate Handley: General Manager
David Fisher: Assistant Manager
The Board members have been in office since the start of the year to the date of this report unless
otherwise stated.
Results
The loss of the Association for the year amounted to ($15,905).
Review of operations
For almost half a century, the Melbourne Press Club has been supporting and celebrating great journalism in
Victoria and throughout Australia, playing a vital role defending the importance of a free and diverse media
to the health of our democracy.
In 2019, the Melbourne Press Club was granted Deductible Gift Recipient status and launched the
Melbourne Press Club Public Fund. Donations made to the Public Fund will be used to offer fellowships such
as the Michael Gordon Fellowship for social justice journalism as well as various other scholarships and
grants. They will also help grow our programs for young journalists and journalism students through
mentoring, skills development programs and awards.
In addition to the above the Association continued to engage in its principal activities, the results of which
are disclosed in the attached financial statements.
Given the economic uncertainty due to the COVID-19 pandemic that is impacting the Victorian economy, the
Association under its new CEO is looking at strategies to continue to engage with and support its existing
sponsor base, develop new sponsors and deliver benefits to generate sponsorship income. It is also working
to engage its membership base and looking at additional sources of income such as grants and planning to
develop an events schedule that supports these objectives. In addition it will continue to manage its costs.
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ABN: 2771 3079 515
BOARD REPORT
Significant changes in state of affairs

In October 2019 there were a number of changes in the composition of the Board. After the resignation of
the CEO, Mark Baker and a number of Board members, Eileen Berry was installed as the interim President
and Acting CEO whilst a search for a new CEO was launched. Ashlynne McGhee was subsequently installed
as Vice President.
As Acting CEO Eileen Berry headed an Executive team, carrying out a successful 2019 Quill Awards on the
6th of March 2020 until the new CEO Cathy Bryson took over on the 8th April 2020.
Aside from those referred to above and elsewhere in this report there were no other significant changes in
the Association's state of affairs that occurred during the financial year.
Principal activities
The principal activities of the Association during the year were:
- Holding various events including the annual Quill Awards for Excellence in Victorian
Journalism and The Edit, supporting young journalists;
- Social functions for members;
- Regular club lunches with high profile speakers;
- Journalism conferences;
- Forums for debate on professional issues;
- The Michael Gordon Fellowship, furthering social justice journalism in memory of Michael Gordon; and
- Mentoring programs for Victorian journalists.
No significant change in the nature of these activities occurred during the year.
Signed in accordance with a resolution of the members of the Board.
Board member:
Veronica Scott
Dated this 23rd day of June 2020
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ABN: 2771 3079 515
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2019
Note 2019 2018

$ $
Revenue and other income

Sales revenue 2 170,859 243,204
Other revenue 3 468,827 530,905
639,686 774,109
Less: expenses
Depreciation and amortisation expense (1,239) (1,382)
Employee benefits expense (360,908) (370,910)
Sponsorship, conference and function expense (225,172) (266,251)
Other expenses (68,272) (63,398)
(655,591) (701,941)
Surplus/(deficit) before income tax expense (15,905) 72,168
Other comprehensive income for the year - -
Total comprehensive income (15,905) 72,168
The accompanying notes form part of these financial statements.

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ABN: 2771 3079 515
STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2019
Note 2019 2018

$ $
Current assets
Cash and cash equivalents 4 135,285 163,308
Receivables 5 160 6,245
Other assets 6 10,977 -
Total current assets 146,422 169,553
Non-current assets
Property, plant and equipment 7 5,829 4,955
Total non-current assets 5,829 4,955
Total assets 152,251 174,508
Current liabilities
Payables 8 34,420 17,527
Provisions 9 20,758 64,623
Other liabilities 10 91,444 71,796
Total current liabilities 146,622 153,946
Non-current liabilities
Provisions 9 1,745 773
Total non-current liabilities 1,745 773
Total liabilities 148,367 154,719
Net assets 3,884 19,789
Members funds
Accumulated surplus 11 3,884 19,789
Total members funds 3,884 19,789

-5-
ABN: 2771 3079 515
STATEMENT OF CHANGES IN MEMBERS FUNDS

Accumulated
Contributed surplus /
equity Reserves (deficit) Total equity
$ $ $ $
Balance as at 1 January 2018 - - (52,379) (52,379)

Surplus for the year - - 72,168 72,168
Total comprehensive income for the year - - 72,168 72,168
Balance as at 1 January 2019 - - 19,789 19,789

Deficit for the year - - (15,905) (15,905)
Total comprehensive income for the year - - (15,905) (15,905)
Balance as at 31 December 2019 - - 3,884 3,884

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ABN: 2771 3079 515
STATEMENT OF CASH FLOWS

Note 2019 2018

$ $
Cash flow from operating activities

Receipts from sponsorship, membership fees and other income 727,382 840,685
Payments to suppliers and employees (755,948) (766,788)
Interest received 543 339
Net cash (used in) / from operating activities (28,023) 74,236
Reconciliation of cash
Cash at beginning of the financial year 163,308 89,072
Net (decrease) / increase in cash held (28,023) 74,236
Cash at end of financial year 135,285 163,308

-7-
ABN: 2771 3079 515
NOTES TO FINANCIAL STATEMENTS

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES
The financial report is a general purpose financial report that has been prepared in accordance with the
Associations Incorporation Reform Act 2012 and Australian Accounting Standards - Reduced Disclosure
Requirements, Interpretations and other applicable authoritative pronouncements of the Australian
Accounting Standards Board.
The Melbourne Press Club Incorporated is a not-for-profit entity for the purpose of preparing the financial
statements.
The financial report was approved by the Board as at the date of the Board report.
The following are the significant 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 and liabilities as described in the accounting policies.
(b) Going concern
The Board has prepared the financial report on a going concern basis, which contemplates continuity of
normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of
business.
The Association has incurred a loss of ($15,905) for the year ended 31 December 2019 resulting in net
current liabilities of ($200), and reducing total members funds to a surplus of $3,884.
As at 31 December 2019 the Association’s net current liabilities include revenue receipted but deferred to
the subsequent year of $91,444. There are minimal costs associated with meeting the obligations associated
with the deferred revenue and accordingly, once recognised as income the net current liabilities position of
($200) becomes a net asset position of $91,244, and total net assets improves from $3,884 to $95,328.
Subsequent to the year end the World Health Organisation declared a pandemic in relation to the COVID-19
virus on 11 March 2020. The Association has experience significantly reduced trading due to the pandemic
and the Board are managing the Association’s financial position until trading can return to previous levels.
To this end the Board is seeking to maximise inflows without physical events, including securing Jobkeeper
payment scheme subsidies for eligible employees and to control costs to manage available cash reserves
through the period. The success of this strategy will be dependent on the duration of the pandemic and the
ability to continue to generate sufficient inflows and manage outflows.
These matters therefore indicate that there is an uncertainty that may cast doubt on the Association’s ability
to continue as a going concern for the next 12 months. The Board is continuing to work with the new CEO to
manage the affairs of the Association. On this basis and having signed a declaration to this effect (Page 15
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ABN: 2771 3079 515

NOTE 1: STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

(b) Going concern (Continued)
Note 2), the Board members are of the opinion that the Association will be able to continue to realise its
assets and discharge its liabilities in the normal course of business.
Should the Association be unable to continue as a going concern, it may be required to realise its assets and
extinguish its liabilities other than in the ordinary course of business, and at amounts that differ from those
stated in the financial statements. This financial report does not include any adjustments relating to the
recoverability and classification of recorded asset amounts or the amounts or classification of liabilities and
appropriate disclosures that may be necessary should the Association be unable to continue as a going
concern.
(c) Revenue
Revenue from services is recognised upon provision of the underlying services to the recipients.
Interest revenue is measured in accordance with the effective interest method.
All revenue is measured net of the amount of goods and services tax (GST).
(d) Income tax
No provision for income tax has been raised as the Association is exempt from income tax under Division 50
of the Income Tax Assessment Act 1997.
(e) Employee benefits
(i) Short-term employee benefit obligations

Liabilities arising in respect of wages and salaries, annual leave and other employee benefits (other than
termination benefits) expected to be settled wholly before twelve months after the end of the reporting
period are measured at the (undiscounted) amounts based on remuneration rates which are expected to be
paid when the liability is settled. The expected cost of short-term employee benefits in the form of
compensated absences such as annual leave is recognised in the provision for employee benefits. All other
short-term employee benefit obligations are presented as payables in the statement of financial position.
-9-
ABN: 2771 3079 515


(e) Employee benefits (Continued)
(ii) Long-term employee benefit obligations

The provision for other long-term employee benefits, including obligations for long service leave and annual
leave, which are not expected to be settled wholly before twelve months after the end of the reporting
period, are measured at the present value of the estimated future cash outflow to be made in respect of the
services provided by employees up to the reporting date. Expected future payments incorporate anticipated
future wage and salary levels, durations of service and employee turnover, and are discounted at rates
determined by reference to market yields at the end of the reporting period on government bonds that are
denominated in the currency in which the benefits will be paid. Any remeasurements for changes in
assumptions of obligations for other long-term employee benefits are recognised in profit or loss in the
periods in which the change occurs.
Other long-term employee benefit obligations are presented as current liabilities in the statement of
financial position if the Association does not have an unconditional right to defer settlement for at least
twelve months after the reporting date, regardless of when the actual settlement is expected to occur. All
other long-term employee benefit obligations are presented as non-current liabilities in the statement of
financial position.
(f) Comparatives
Where necessary, comparative information has been reclassified and repositioned for consistency with
current year disclosures.
(g) New and revised accounting standards effective at 31 December 2019
The Association has applied all new and revised Australian Accounting Standards that apply to annual
reporting periods beginning on or after 1 July 2019, including AASB 1058 Income of Not-for-Profit Entities
(AASB 1058) and AASB 15: Revenue from Contracts with Customers (AASB 15).
AASB 1058: Income for not-for-profit entities and AASB 15: Revenue from contracts with customers
AASB 1058 replaces the income recognition requirements in AASB 1004: Contributions applicable to private
sector not-for-profit entities with a model based on the principles of AASB 15: Revenue from Contracts with
Customers. Consequently, AASB 1058 requires private sector not-for-profit entities to recognise all revenue
from contracts with customers when the related performance obligations are satisfied, irrespective of
whether the ultimate beneficiary of the goods or services provided by the not-for-profit entity is the grantor
of the funds or another entity. An agreement involving a not-for-profit entity would be classified as a
contract with a customer (and therefore accounted for under AASB 15) if the agreement:
(a) creates enforceable rights and obligations between the parties; and
(b) includes a promise by the not-for-profit entity to transfer a good or service that is sufficiently specific for
the entity to determine when the obligation is satisfied.
- 10 -
ABN: 2771 3079 515


(g) New and revised accounting standards effective at 31 December 2019 (Continued)
For contracts with customers that comprise a donation component, AASB 1058 requires such components
to be treated as part of the performance obligation(s) unless the entity can demonstrate that component is
not related to the promised goods or services.
When an arrangement does not meet the criteria for a contract with a customer under AASB 15, the
arrangement is accounted for in accordance with AASB 1058, which requires:
(a) the asset received by the not-for-profit entity to be accounted for in accordance with the applicable
Australian Accounting Standard, which in most circumstances requires the asset to be initially measured
at its fair value;
(b) any related amounts (such as contributions from owners, financial liabilities, contract liabilities, lease
liabilities and provisions) to be accounted for in accordance with the applicable Australian Accounting
Standard; and
(c) any difference between the consideration given for the asset and its fair value, after recognising any
related amounts (such as contributions from owners, financial liabilities, contract liabilities, lease
liabilities and provisions), is recognised as income.
However, amending standard AASB 2018-8 provides a temporary option for not-for-profit entities to not
apply the fair value initial measurement requirement to right-of-use assets arising under leases with
significantly below-market terms and conditions. This enables not-for-profit entities to elect to initially
measure such right-of-use assets at cost rather than fair value, which has the corresponding effect of
reducing the amount of income recognised under AASB 1058.
AASB 1058 also permits a not-for-profit entity to recognise volunteer services as an asset or expense (as
applicable) and any related contributions by owners or revenue as an accounting policy choice, provided
that the fair value of the services can be measured reliably.
AASB 1058 also has specific recognition criteria in relation to transfers to enable an entity to acquire or
construct a recognisable non-financial asset to be controlled by the entity. The obligation to acquire or
construct the non-financial asset is accounted for similarly to a performance obligation under AASB 15.
In accordance with the transition requirements of AASB 1058 and AASB 15, the Association has elected to
apply AASB 1058 and AASB 15 retrospectively, with the cumulative effect, if any, of initially applying the new
standards recognised as an adjustment to opening retained earnings at the date of initial application (i.e., at
1 July 2019). Accordingly, comparative information has not been restated.
The application of AASB 1058 and AASB 15 has not materially impacted the recognition and measurement of
income or revenue from contracts with customers.
Further details of the Association’s accounting policy in relation to accounting for income under AASB 1058
and revenue from contracts with customers under AASB 15 are contained in Note 1(c) .
- 11 -
ABN: 2771 3079 515

2019 2018
$ $
NOTE 2: REVENUE FROM CONTRACTS WITH CUSTOMERS

Functions 158,628 189,640
Quills prize money 12,231 53,564
170,859 243,204
170,859 243,204
NOTE 3: OTHER REVENUE AND OTHER INCOME

Sponsorships 378,449 432,308
Donations 52,307 54,000
Membership fees 37,528 44,258
Interest income 543 339
468,827 530,905
468,827 530,905
NOTE 4: CASH AND CASH EQUIVALENTS

Cash at bank 135,285 163,308
NOTE 5: RECEIVABLES
CURRENT
Trade debtors 160 6,245
NOTE 6: OTHER ASSETS
CURRENT
Prepayments 10,977 -
- 12 -
ABN: 2771 3079 515

2019 2018
$ $
NOTE 7: PROPERTY, PLANT AND EQUIPMENT
Plant and equipment

Plant and equipment at cost 19,658 17,545
Accumulated depreciation (13,829) (12,590)
Total property, plant and equipment 5,829 4,955
(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 4,955 5,526
Additions 2,113 811
Depreciation expense (1,239) (1,382)
Closing carrying amount 5,829 4,955
NOTE 8: PAYABLES
CURRENT
Unsecured liabilities
Trade creditors 1,514 360
Sundry creditors and accruals 32,906 17,167
34,420 17,527
NOTE 9: PROVISIONS
CURRENT
Employee benefits (a) 20,758 64,623
NON-CURRENT
Employee benefits (a) 1,745 773
(a) Aggregate employee benefits liability 22,503 65,396
- 13 -
ABN: 2771 3079 515

2019 2018
$ $
NOTE 10: OTHER LIABILITIES
CURRENT
Deferred income 91,444 71,796
NOTE 11: ACCUMULATED SURPLUS / (LOSSES)

Accumulated surplus / (losses) at beginning of year 19,789 (52,379)
(Deficiency) / surplus (15,905) 72,168
3,884 19,789
NOTE 12: EVENTS SUBSEQUENT TO REPORTING DATE

Subsequent to year end the World Health Organisation declared a pandemic in relation to the COVID-19
virus on 11 March 2020. The Association has experienced significantly reduced trading due to the pandemic
and the Board is managing the Association’s position as described in Note 1(b) in preparing the financial
statements on a going concern basis.
There has been no other matter or circumstance, which has arisen since 31 December 2019 that has
significantly affected or may significantly affect:
(a) the operations, in financial years subsequent to 31 December 2019, of the Association, or
(b) the results of those operations, or
(c) the state of affairs, in financial years subsequent to 31 December 2019, of the Association.
- 14 -
ABN: 2771 3079 515
STATEMENT BY MEMBERS OF THE BOARD
In the opinion of the Board the financial report as set out on pages 4 - 14:
1. Presents fairly the financial position of The Melbourne Press Club Incorporated as at 31 December 2019
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 Board and is signed for and on behalf of the
Board by:
Treasurer:
Veronica Scott
Dated this 23rd day of June 2020
- 15 -
ABN: 2771 3079 515
INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF THE MELBOURNE PRESS CLUB INCORPORATED
Report on the Audit of the Financial Report

Opinion
We have audited the financial report of The Melbourne Press Club Incorporated, "the Association", which
comprises the statement of financial position as at 31 December 2019, the statement of profit or loss and
other comprehensive income, statement of changes in members funds and statement of cash flows for the
year then ended, and notes to the financial statements, including a summary of significant accounting
policies, and the statement by members of the Board.
In our opinion, the accompanying financial report presents fairly, in all material respects, the financial
position of the Association as at 31 December 2019, and its financial performance and its cash flows for the
year then ended in accordance with the financial reporting requirements of Associations Incorporation
Reform Act 2012 (and its associated Regulations).
Basis for Opinion

We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those
standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section
of our report. We are independent of the Association in accordance with the ethical requirements of the
Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants
(including Independence Standards) "the Code" that are relevant to our audit of the financial report in
Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Material Uncertainty related to Going Concern

We draw attention to Note 1(b) of the financial report, which states that the Association made a loss of
($15,905) for the year ended 31 December 2019, resulting in the Association having net current liabilities of
($200), and reducing total members funds to a surplus of $3,884. These events or conditions, along with
other matters as set forth in Note 1(b), indicate that a material uncertainty exists that may case significant
doubt on the Association’s ability to continue as a going concern. Our opinion is not modified in respect of
this matter.
Other Information
The Board is responsible for the other information. The other information comprises the information
included in the Association’s annual report for the year ended 31 December 2019, but does not include the
financial report and our auditor’s report thereon.
- 16 -
Pitcher Partners. An independent Victorian Partnership ABN 27 975 255 196. Level 13, 664 Collins Street, Docklands, VIC 3008
Pitcher Partners is an association of independent firms. Liability limited by a scheme approved under Professional Standards Legislation.
Pitcher Partners is a member of the global network of Baker Tilly International Limited, the members of which are separate and independent legal entities.
Adelaide Brisbane Melbourne Newcastle Sydney Perth pitcher.com.au

ABN: 2771 3079 515

Other Information (Continued)
Our opinion on the financial report does not cover the other information and accordingly we do not express
any form of assurance conclusion thereon.
In connection with our audit of the financial report, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial report or
our knowledge obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact. We have nothing to report in this regard.
Responsibilities of Management and Those Charged with Governance for the Financial Report
Management is responsible for the preparation and fair presentation of the financial report in accordance
with the financial reporting requirements of the applicable legislation and for such internal control as
management determines is necessary to enable the preparation and fair presentation of a financial report
that is free from material misstatement, whether due to fraud or error.
In preparing the financial report, management is responsible for assessing the Association’s ability to
continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going
concern basis of accounting unless management either intends to liquidate the Association or to cease
operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Association’s financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Report

Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes
our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with the Australian Auditing Standards will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the
basis of this financial report.
As part of an audit in accordance with the Australian Auditing Standards, we exercise professional
judgement and maintain professional scepticism throughout the audit. We also:
- 17 -

ABN: 2771 3079 515

Auditor's Responsibilities for the Audit of the Financial Report (Continued)
• Identify and assess the risks of material misstatement of the financial report, whether due to fraud
or error, design and perform audit procedures responsive to those risks, and obtain audit evidence
that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is higher than for one resulting from error, as fraud may
involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal
control.
• Obtain an understanding of internal control relevant to the audit 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.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the Board.
• Conclude on the appropriateness of the Board’s use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Association’s ability to continue as a going concern.
If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s
report to the related disclosures in the financial report or, if such disclosures are inadequate, to
modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our
auditor’s report. However, future events or conditions may cause the Association to cease to
continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial report, including the
disclosures, and whether the financial report represents the underlying transactions and events in a
manner that achieves fair presentation.
We communicate with the Board regarding, among other matters, the planned scope and timing of the
audit and significant audit findings, including any significant deficiencies in internal control that we identify
during our audit.
M J HARRISON PITCHER PARTNERS

Partner Melbourne
Date
- 18 -

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1

MELBOURNE PRESS CLUB

P e iden Re 2019 Page 3

Events Calendar 2019 Page 5

Board 2019 Page 6

Quill Awards 2019 Page 7-8

MPC Sponsors 2019 Page 9

Financial Report 2019 Page 10

MELBOURNE PRESS CLUB

If I only I had had a crystal ball at the start of this year.

(2) W : a a a a a a F a every day of the week.

MELBOURNE PRESS CLUB

The highlights of financial performance included:

MELBOURNE PRESS CLUB

CORPORATE LUNCHES MEDIA LUNCHES OTHER EVENTS

February 25 Feb The Edit (41 pax)

March 1 March Banking Forum (100 pax) 15 March Quills Dinner

May 20 May The Edit:

25 June Defending the Whistleblowers

July 29 July The Edit: with

August 13 August - Rod Sims Digital Platform

September 4 Sept - Allan Fels book launch (93

10 Sept - Annabel Crabb with lunch

6 Nov Professor Ross Garnaut (78

Board Year End dinner - 14

MELBOURNE PRESS CLUB

Vice Presidents: Ashlynne McGhee, ABC (Nov 2019 until present)

Treasurer: Veronica Scott, KPMG (June 2019 until present)

Secretary: Richard Leder, Corrs Chambers Westgarth

Executive: Cathy Bryson, CEO (April 2020 to present)

Staff: Kate Handley, General Manager

MELBOURNE PRESS CLUB

The Gold Quill

Lifetime Achievement Award

Harry Gordon Australian Sports Journalist of the Year Award

Young Journalist of the Year Award

Student Journalist of the Year Award

RACV Transport Quill

The Grant Hattam Quill Award for Investigative Journalism

The Keith Dunstan Quill for Commentary

Breaking News Coverage

Coverage of an Issue or Event

Regional & Rural Journalism

TAC Towards Zero Quill for Road Safety Reporting

TV / Video Feature (Long Form)

TV / Video Feature (Short Form)

TV Camera Work (Creative Camera Work)

TV Camera Work (Shot of the Year)

Radio Journalism (Long Form)

Radio Journalism (Short Form)

News Report in Writing

The VicHealth Quill for Coverage of Women in Sport

The Victorian Government Quill for Reporting on Cultural Diversity

The Victorian Government Quill for Reporting on Disability

MELBOURNE PRESS CLUB

Sponsors to December 2019

MELBOURNE PRESS CLUB

Financial Report 2019

Board report ........................................................................................................................................ 1 - 3

Board members names

Board members names (Continued)

Significant changes in state of affairs

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

Dated this 23rd day of June 2020