Page 81 - BWA Annual Report 2019

WESTERN AUSTRALIAN BASKETBALL FEDERATION INC.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019
In March 2019, the Association announced the suspension of basketball in WA in response to the Coronavirus pandemic. At this point in time, it is not possible to determine the period for which
the suspension will be required. While basketball activities remain suspended, the Association will not earn revenue derived from normal operating activities. Management have prepared a scenario-based cash flow forecast which incorporates cost saving measures for periods ranging from 6-12 months during which activities will remain suspended.
Based on the above facts and the cash flow forecast prepared by management, the Directors consider the going concern basis of preparation to be appropriate.
2. REVENUE AND OTHER INCOME
The Association earned revenue from the following key streams:
Nominations/Admissions
Merchandise Sales
Paticipation Fees
Registrations
Stadium/Court hire/Grand Final Income Government Grants
Administration, Affiliation and Referee Fees
Total Revenue
Interest Income
Venues West cleaning contribution Other Income
Total Revenue and Other Income
2019 2018 $$ 883,993 836,461 146,927 215,719 194,633 198,894 968,274 590,534 474,930 424,748 779,870 711,304 434,789 335,407
3,883,416 3,313,067
30,418 31,929
64,761 228,401 246,367 150,542
4,224,962 3,723,939
BWA ANNUAL REPORT 2019 74