We have frequently been called upon to assist small charities who are struggling with the complexity of the XRB reporting format required to comply with the DIA Charities Annual Report.
A Tier 4 charity is one which:
- has annual operating payments under $125,000
- has no public accountability
- uses cash based (as opposed to accrual) accounting
A simplified template has recently been issued for those Tier 4 charities which have:
- a single bank account
- few or no other significant resources (the things you own such as cars, land or buildings)
- few or no significant commitments (the things you owe such as bank loans)
- not entered into other complex transactions (such as multi-year grants or controlling businesses).
The template and an accompanying guide are available on the DIA Charities website
Source: Charities Services Newsletter February 2022