End of Financial Year (EOFY) is a great time for community groups to pause, tidy things up and get ready for the year ahead. Here are six free resources worth bookmarking.
1. Get AGM-ready
AGM-ready means having your financial statements prepared, your annual report started, committee roles reviewed, member records updated, and key dates locked in.
For NSW incorporated associations, annual summaries usually need to be lodged within one month after the AGM, and no later than seven months after the end of the financial year.
Start here: https://www.service.nsw.gov.au/transaction/lodge-an-annual-summary-of-financial-affairs-tier-1-and-2-associations
2. Understand your reporting obligations
Not sure what your group needs to report, or to whom? Justice Connect’s Not-for-profit Law has a helpful section on financial reporting to government, including ACNC reporting.
Start here: https://www.nfplaw.org.au/free-resources/financial-reporting-to-government
3. Check your records are in order
EOFY is a good time to check your minutes, member register, financial records, policies, insurance documents and key passwords are up to date and stored safely.
Justice Connect has free record-keeping resources for incorporated associations.
Start here: https://www.nfplaw.org.au/free-resources/how-to-run-the-organisation/documents-records-and-requests-for-access
4. Support your Treasurer
Treasurers carry a lot, especially in small volunteer-run groups. The Institute of Community Directors Australia has free help sheets on budgeting, record keeping, treasurer reports and financial oversight.
Start here: https://www.communitydirectors.com.au/tools-resources/finance-for-treasurers
5. Review financial risks
EOFY is also a good time to check your financial systems. Do you have two people approving payments? Are reports being shared with the committee? Is one person holding too much financial knowledge?
This free treasurer risk guide is a useful conversation starter.
Start here: https://www.communitydirectors.com.au/help-sheets/risk-management-for-treasurers
6. Do a quick governance health check
Before the new financial year begins, take time to ask: Do we understand our committee roles? Are our policies current? Are we meeting our legal obligations? Do we have a plan for succession?
Justice Connect’s Not-for-profit Law has a free resource library with more than 300 guides, fact sheets and tools for community organisations.
Start here: https://www.nfplaw.org.au/free-resources
A little bit of EOFY housekeeping now can save a lot of stress later, and help your group step into the new financial year feeling clearer, more confident and better supported.