A Home of The Chinese Community
Analysis on Statement of Financial Position
Cash and Cash Equivalents As of June 30 2021, the total amount of cash and cash equivalents in Chung Wah Community and Aged Care was $7.75 million, accounting for 84% of the total cash and cash equivalents of the Ching Wah Associasion $9.219 million, of which approximately $2.241 million (2020: $1.753 million ) belonging to family and community care plans.
Net Assets Property, plant and equipment The Association Services main assets are land and buildings in James Street and Balcatta. The Chinese schools main assets are computers, office equipment and storage. The CAC assets are motor vehicles used for transporting clients, office equipment, fixtures and fittings. This year, the independent valuer, Valuations WA Pty Ltd conducted an asset reassessment on the Chung Wah Hall in James St. and the Balcatta Cultural Centre on 1 June 2021. The property revaluation surplus of $563,822 from the property revaluation reserve was added to the equity balance as of 30 June 2021. I would like to thank all staff members of Chung Wah Association Administration Team and Chung Wah Community and Aged Care Administration Team for their hard work and assistance throughout the year.
Ke Mei SHAO Honorary Treasurer 28 | The Chung Wah Association Inc. - Annual Report 2020-2021
