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Financial Reporting

In 2012, the NSW Rural Fire Service Association Incorporated established a Company limited by Guarantee called NSW RFSA as the Department of Fair Trading imposes a financial threshold of $2m on income, assets and expenditure for an Incorporated Association.  The strong growth of the Association was the reason why the Department of Fair Trading requested it to transfer to a more suitable structure.

The Association considered various alternatives including converting the Association into a not-for-profit company.  However after consideration of those alternatives and consultation with the RFSA State Council, the decision was made to retain the Association and ensure it was compliant with the Department of Fair Trading policy by keeping its income, assets and expenditure below the $2m financial threshold each year.

NSW RFSA was established as a not-for-profit company to fund the objectives and activities of the Association.  Its constitution restricts its activities to those obejctives.

Essentially, NSW RFSA funds the objectivities and activities of the Association and is not bound by the $2m financial threshold as ASIC does not impose such a limitation on not-for-profit companies.

The Association and the Company are linked via a Funding Agreement.  Both the Assocaition and Company are managed by the same Board members.  The members of the company are limited to the 42 elected members of State Council, although it is not mandatory that they become members of the company.

The NSW Rural Fire Service Association Inc and NSW RFSA are registered with the Australian Charities and Not-for-profts Commission (ACNC). Information on their website includes publication of financial information and the organisation's constitution.

 Click here: NSW Rural Fire Service Association Inc.

Click here: NSW RFSA