Bookkeeper, Christine Chiavassa, and Simon Townsend from accounting firm, 4Business & Community, have been engaged and an annual Association Report has been produced. The Association Report and final Audit report by Rendell W. Ridge from Max Peck & Associates have been made public via our website.

Income & Expenditure

  • The final result was a surplus of $9,249 compared with a loss of $1,068 last year.
  • Ticket sales were $268,294 against last year’s sales of $261,577.
  • Donations received were $1,812 versus $2,629 last year.
  • Grants received were $2,500 versus $4,820 last year.
  • Sponsorship income was $7,500 versus $12,766 last year.

Expense items of note are:

  • Artists fees have remained very constant over the last few years. This year artists’ fees totaled $89,023.
  • Income from stalls decreased from $9,986 to $3,645
  • Venue hire has increased from $3,933 to $5,298
  • Honorariums paid to venue and other volunteer coordinators and Cygnet community groups increased from $13,840 to $25,830.

The Cygnet Folk Festival is still relying almost exclusively on ticket sales. The incoming committee needs to give some attention to secure further sponsorship and grants. Grants are likely to be associated with events such as the Welcome ceremony or other specific events.

The Cygnet Folk Festival has come of age, it has matured, and the operation has been professionalised. The festival is financially secure and with good fiscal management, the festival can and should include the ongoing, professional services of the Festival Coordinator and the Artistic Director based on two part-time employed positions.

The Cygnet Folk Festival is still a very affordable festival and ticket prices are comparable, or cheaper, to similar festivals.

Assets & Liabilities

  • Total net assets are $150,709 compared to $141,460 last year.

CFF Financial Position

The CFF is therefore in a very strong financial position and there are no foreseeable threats or danger to the ongoing success and viability of the festival.

Michael Thomsen, Treasurer


Download 2018 Association & Audit Reports

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