Our Future Reimagined
Next year, DWN will be celebrating 25 years. As we lead into this year, we will step back and take the time to reflect. A time to pause, and look forward, reimagining the next 25 years.
As we do this, we will continue to, lead, and ensure we provide learning, leadership, and connection for our members. Our future will incorporate how New Zealand culture is viewed around the world. A culture of dependability, inventiveness, bravery, sensitivity, global-mindedness, egalitarianism, open-mindedness, and humility. These traits individually and collectively will continue to guide and help us reimagine our future.
But for this moment, let’s take the time to celebrate and be proud of all that has been achieved.
DWN is about the people. We’re passionate about what we do, and who we are and want to ensure we have a positive impact on our members and the sector along with the DWN team.
The DWN team is made up of an incredible group of people from the team in the office, to Hub Leaders, to Regional Leaders, and the DWN Board. Collectively the energy and passion ensure we focus on how we provide meaningful learning and connection.
Everyone shares a can-do attitude, big-picture thinking, and anything is possible. And as we know, attitude is everything. I’m proud to lead and be part of this team. Collectively the talent within the DWN team fills me with
pride and energy.
To our members, you are the reason we do what we do. Thank you for being part of our wider team, and for your support and encouragement. A place for all, a place to belong, to be heard and supported.
DairyNZ, our founding partner continues to support and help us grow our people, and future leaders and deliver meaningful learning for our members.
The partnership is more than financial. It’s about our teams coming together and delivering what’s important to the sector in a timely and practical way. It ensures we bring our values to life of inclusiveness, seizing opportunities, and connection. Through this support, members grow and develop to be better employers, employees, and business owners, and connect communities. In turn a better dairy sector.
For DWN, a Partnership is not only about how we connect at a strategic level but equally, a cultural fit and alignment between organisations. Shared beliefs, goals, values, and aspirations, ensure we move forward…together. To all our Partners and their teams, thank you for your contribution, and support and for continuing to believe in the sector.
Together we collaborate and, guide our members to help them be the absolute best they can be on their dairying journey.
Learning, Leadership, and Connection
DWN continued to navigate like the rest of New Zealand through a changed lens. It has provided an opportunity to re-evaluate what we do and what’s important. Without question, top of mind for our members is connection.
So, while the learning, leadership, and connection workshops changed to an online format, we certainly embraced the opportunity to reconnect with our members at the very first opportunity to connect.
If we step back and pause just for a moment, we should be proud of what has been achieved and together look forward to reimagining our future and being part of a sector that too will be reimagining its future.
Statement of Financial Performance
During the 2021/2022 financial year, our total revenue was $955,442 which was a decrease of $173,311 compared to the previous year. Cash funding received for the year slightly increased compared to last year however a portion was recorded as revenue in advance with services to be provided in future years which resulted in the decrease levels of revenue recorded in the financial statements.
Total expenses decreased from $1,118,717 to $945,153 due to employment and contractor costs.
Net profit for the year was $10,289.
Statement of Financial Position
During the Financial year ending 31, May 2022 DWN increased its trust funds from $519,087 to $529,376. The increase in Trust funds was attributed to a net profit of $10,289.
As of, 31 May 2022, DWN showed an increase in Total Assets from $704,186 to $849,655 attributed to an increase in bank balance and accounts receivable and assets in progress.
Total Liabilities increased from $185,099 to $320,278 due to revenue received in advance.
Statement of Cash Flows
Net cash balances held in bank accounts increased by $128,067 during the past financial year. Our net cash bank account balance as of year-end was $531,284.
The term deposit is held at ASB and increased this year to $133,674.
In summary, the net profit of $10,289 provides a positive result for the 2021/2022 financial year.
This brings us to the end of the Financial Report. I call on the Chair to recommend and the acceptance of the report.