The year was one of tight finances within GRN Australia, as it was throughout the global economy. Income was below that of last year, and despite keeping a reign on expenditure, we finished the year with a deficit of nearly $80K.
Sales more than tripled over last year with the launch of the Saber player. Donation income however fell by 17%. Income from bequests was particularly low, but investment income held up well.
Expenses were higher than last year, but below budget. The major areas of increase were expenses related to bringing the Saber into full production, and an accounting change relating to staff housing.
| This yr A$,000 | Last yr A$,000 | |
| Sale of materials | 315 | 101 |
| Donations and bequests | 377 | 489 |
| Staff support | 166 | 162 |
| Investment income | 385 | 295 |
| Total Income | 1243 | 1047 |
| Cost of sales | 284 | 85 |
| Local expenses | 368 | 331 |
| Staff support | 341 | 225 |
| Overseas Support | 330 | 354 |
| Total Outgoings | 1323 | 995 |
| NET SURPLUS/DEFICIT | -80 | 53 |
A full set of audited accounts is available on request from the GRN Australia office.