News

ANNUAL GENERAL MEETING

OCTOBER 2023

SUCCESS THROUGH INSPIRATION
As an organisation and team, we continue to move forward through a changing landscape.  It takes courage, commitment, and a good dose of collaboration.  DWN is recognized for this, and it is fair to say this has been true for the past 25 years.

THE HEART OF OUR SUCCESS
Our success comes down to people and without their dedication and hard work, we simple wouldn’t achieve what we do for our members. In the part year, we have successfully delivered 80 incredible events, hand in hand with our 16 partners and supported by 19 sector organisations.

From the Trust Board to the Head Office Team, Hub Leaders, and incredible volunteer Regional Leaders, we are the team, and fortunate to have such enthusiastic and committed people for our members and the sector.

STRONG COLLABORATIONS
Acknowledgment and thanks to our Partners. They empower us to deliver unparalleled opportunities for growth, learning, and leadership to our team and valued members. A special salute to DairyNZ and their dedicated team, with whom we’ve walked hand in hand for a remarkable 25 years.

Our enduring partnerships exemplify the strength of unity and our unwavering belief in our members and the dairy sector.

A SOURCE OF TRUST AND INSPIRATION
We often hear the resounding sentiment from our valued members; they find comfort and trust within DWN. We don’t just want to be a membership organization, but also a place of hope, living up to Napoleon Bonaparte’s famed words.

They often say that being a dealer in hope involves: energizing in the face of disappointment, inspiring passion when things fall short, harnessing the drive to tackle obstacles, resolve when resistance appears, and boldness during moments of uncertainty, demonstrating endurance when being tempted to quit and providing stability when things feel uncertain.

REFLECTING ON OUR JOURNEY
As is the case with many organisations and teams, we navigate our path with agility and boundless energy. Often, at a relentless pace, we overlook the importance of celebrating not only our own achievements but also those of our members and the sector.

It’s time to pause, take a moment to catch our breath, and reflect on the extraordinary journey so far. Let’s acknowledge the accomplishments of the past year, and above all, celebrate the most invaluable asset within our sector – our People.

FINANCIAL REPORT

Statement of Financial Performance
During the 2022/2023 financial year, total revenue was $1,354,802 compared to $955,442 which was an increase of $399,360 compared to the previous year. This was largely due to hosting an annual conference and additional sponsorship.

Total expenses increased from $945,153 to $1,388,042 which is related to the DWN annual conference and Farming for the Future Leadership program expenses.

Net loss for the year was $33,240.

Statement of Financial Position
During the Financial year ending 31, May 2023 DWN decreased its trust funds from $529,376 to $496,136. The decrease in Trust funds was attributed to a net loss of $33,240.

As of, 31 May 2023, DWN showed a decrease in Total Assets from $849,655 to $806,624 attributed to a decrease in bank balance.

Total Liabilities decreased from $320,278 to $310,488.

Statement of Cash Flows
Net cash balances held in bank accounts decreased by $59,751 during the past financial year. Our net cash bank account balance as of year-end was $471,533.

The term deposit is held at ASB and increased this year to $137,582.

In Summary
In summary, the net loss of $33,240 for the 2022/2023 financial year.