Happy to answer your questions as there has been a lot of misinformation being spread by a few uninformed members of late in respect to Nevertire road funding and the additional shares proposals which has disadvantaged the community financially and imposed more work on the volunteers who support the community.
These members have not approached the board or the finance committee to ask questions and did not raise any questions at the last GM’s in this regard.
If you know these members then it would be good to pass on correct detail and ask them to speak directly to the finance committee for the correct information.
Your inquiry was : “How was the current budget approved if a shortfall was known to exist.”
The answer to this question is in the Rationale of the minutes. The shortfall being the liability set by the budget minus the revenue. Liability meaning the funds required to meet the budget, that is the amount required over the financial year, revenue being the amount of funds received through levies.
From the rationale: “Liability exceeds revenue in both 2022-23 budgets however it is considered that the Levies remain the same”, the community was informed of this and knew that the shortfall would come from reserves. You will also notice the community approved the motion unanimously. As I said, it is best that you attend the GM’s to be able to listen to the questions asked by the community prior to a vote. If you cannot attend then read the minutes and if you still have questions, the finance committee, including myself are happy to answer your questions.
If you still have questions please raise during the April GM, however, to ensure you are properly informed please ensure you read the minutes of the minutes leading up to the GM and if you still have questions I am happy to answer on the day or provide in another forum.
Steve, please read the minutes to the August 2022 AGM, in particular the Annual budget resolution and the rationale with the unanimous vote by the community. It is always a good idea to attend the AGM or if not read the minutes to ensure you are informed of community decisions. The board is always available to answer your questions, perhaps a good idea is to have questions like this prepared to ask at a GM to ensure your fears are allayed.
Reply
I have taken in part, your response re The AGM August 2022 in part your reference to the Budget,as your answer to my inquiry, I have provide a copy o the same to help you explain your reply
PROPOSAL:
To accept the Goolawah Co-operative Ltd Annual 2022-23 Administration and Infrastructure Budgets as posted
on the Co-operative website.
PROPOSED: Wayne Skinner,
SECONDED: Bronwyn Little
Rationale:
The budgets consider the administration expenditure and requirements for infrastructure replacement and
projects for the 22 – 23 financial year.
2021-22 Surplus has been placed into consolidated funds.
The outstanding liability for completion of the road per the DA is not considered in this budget however it is in
the 10 year Master plan.
Should funding be required for Court action against KSC regarding the DA appeal, this will come from the
Infrastructure DA road fund.
Liability exceeds revenue in both 2022-23 budgets however it is considered that the Levies remain the same
with additional funding requirements taken from consolidated funds.
Contingency of $10,000 has been included.
Funding for any new projects may be considered and approved separately at a GM during the fiscal year.
APPROVED: Unanimous
Surely as you can see there is no reference to to matters related to my inquire
The only other thin you may have been trying to convey is the answer to my question is in actual budget which was not included as a copy with the meeting minutes
I checked the Notice of Agenda published however after several attempts my only response when trying to open the said document was ‘404 File Not Found’
Goolawah Co-op Members 
Hi Steve,
Happy to answer your questions as there has been a lot of misinformation being spread by a few uninformed members of late in respect to Nevertire road funding and the additional shares proposals which has disadvantaged the community financially and imposed more work on the volunteers who support the community.
These members have not approached the board or the finance committee to ask questions and did not raise any questions at the last GM’s in this regard.
If you know these members then it would be good to pass on correct detail and ask them to speak directly to the finance committee for the correct information.
The Budget for 2022-23 was publish on the Web on 9th July, 2022. Link attached: https://goolawahmembers.com/2022/07/09/annual-budgets-2022-23/
Note the draft budgets for this year 2023-24 for discussion at the April GM were published on 2nd April, 2023. Link attached: https://goolawahmembers.com/2023/04/02/general-meeting-15-april-2023/
Your inquiry was : “How was the current budget approved if a shortfall was known to exist.”
The answer to this question is in the Rationale of the minutes. The shortfall being the liability set by the budget minus the revenue. Liability meaning the funds required to meet the budget, that is the amount required over the financial year, revenue being the amount of funds received through levies.
From the rationale: “Liability exceeds revenue in both 2022-23 budgets however it is considered that the Levies remain the same”, the community was informed of this and knew that the shortfall would come from reserves. You will also notice the community approved the motion unanimously. As I said, it is best that you attend the GM’s to be able to listen to the questions asked by the community prior to a vote. If you cannot attend then read the minutes and if you still have questions, the finance committee, including myself are happy to answer your questions.
If you still have questions please raise during the April GM, however, to ensure you are properly informed please ensure you read the minutes of the minutes leading up to the GM and if you still have questions I am happy to answer on the day or provide in another forum.
Regards,
Wayne
Steve, please read the minutes to the August 2022 AGM, in particular the Annual budget resolution and the rationale with the unanimous vote by the community. It is always a good idea to attend the AGM or if not read the minutes to ensure you are informed of community decisions. The board is always available to answer your questions, perhaps a good idea is to have questions like this prepared to ask at a GM to ensure your fears are allayed.
Reply
I have taken in part, your response re The AGM August 2022 in part your reference to the Budget,as your answer to my inquiry, I have provide a copy o the same to help you explain your reply
PROPOSAL:
To accept the Goolawah Co-operative Ltd Annual 2022-23 Administration and Infrastructure Budgets as posted
on the Co-operative website.
PROPOSED: Wayne Skinner,
SECONDED: Bronwyn Little
Rationale:
The budgets consider the administration expenditure and requirements for infrastructure replacement and
projects for the 22 – 23 financial year.
2021-22 Surplus has been placed into consolidated funds.
The outstanding liability for completion of the road per the DA is not considered in this budget however it is in
the 10 year Master plan.
Should funding be required for Court action against KSC regarding the DA appeal, this will come from the
Infrastructure DA road fund.
Liability exceeds revenue in both 2022-23 budgets however it is considered that the Levies remain the same
with additional funding requirements taken from consolidated funds.
Contingency of $10,000 has been included.
Funding for any new projects may be considered and approved separately at a GM during the fiscal year.
APPROVED: Unanimous
Surely as you can see there is no reference to to matters related to my inquire
The only other thin you may have been trying to convey is the answer to my question is in actual budget which was not included as a copy with the meeting minutes
I checked the Notice of Agenda published however after several attempts my only response when trying to open the said document was ‘404 File Not Found’
Just wondering if anyone remembers who led the campaign against the suggested levy rise in 2020?
Ps: Goolawah budgets are approved by General Meetings
My inquiry relates to the minutes of the March board meeting.
Finance; How was the current budget approved if a shortfall was known to exist.