2024 AIS Submission Checklist

2024 AIS Submission Checklist: Ensure You’ve Covered Everything for Smooth Not-for-Profit Reporting

With the ACNC deadline for the Annual Information Statement (AIS) submission approaching, it’s crucial for not-for-profits to be well-prepared. Submitting an accurate AIS not only fulfils regulatory requirements but also builds public trust and demonstrates your organisation’s transparency.

This comprehensive checklist covers everything you need before hitting ‘submit’.

The 2024 Annual Information Statement (AIS) Hub

The 2024 AIS Hub on the ACNC website is a comprehensive resource for charities preparing their AIS. It guides users through confirming organisational details, selecting the correct reporting period, completing financial sections based on charity size, and submitting accurate program data. The hub also details governance requirements, including guidelines for related party transactions and staff remuneration disclosures.

For a step-by-step guide and resources like the Program Previewer and AIS Guide, charities can log into the Charity Portal and consult these ACNC resources.

AIS Submission Checklist for a Smooth Reporting Process

1. Review Key Details of Your Organisation

• ABN and Contact Information: Verify your organisation’s ABN and contact information.
• Responsible Persons: Ensure the list of current board members, trustees, or committee members is updated with any recent changes.
• Financial Reporting Period: Confirm the financial year aligns with ACNC requirements and your official reporting period.

2. Complete Financial Information Accurately

• Financial Statements: Prepare financial statements as required for your organisation’s reporting tier. Medium and large charities need to submit a reviewed or audited financial report.
• Revenue and Expenses: Confirm all income sources and expenses, including donations, grants, and fundraising, are accurately reported.
• Assets and Liabilities: Ensure assets and liabilities are correctly documented, covering property, investments, and any debts.

3. Update the Activities and Outcomes Section

• Primary Activities: Clearly outline key activities, programs, and any significant changes over the past year.
• Impact Reporting: Share measurable outcomes and positive impacts to enhance public awareness and donor interest.
• Future Plans: Note planned expansions or service changes, demonstrating transparency and forward-thinking.

4. Check Governance and Compliance Details

• Policies and Procedures: Ensure all governance, risk management, and financial oversight policies are documented and up-to-date.
• Compliance Checks: Verify your submission aligns with ACNC guidelines, especially with any updated reporting standards.
• Board Meetings and Decisions: Review minutes and resolutions from the past year, as these may inform AIS submission details.

5. Verify Accuracy and Consistency Across Sections

• Consistency in Financial and Narrative Data: Align financial data with narrative explanations; ensure any highlighted programs are reflected in financial statements.
• Proofread for Clarity: Double-check for errors to maintain a polished, professional submission.
• Seek Board Approval: Obtain approval from your board, adding credibility and accountability to your report.

6. Submit and Retain Copies for Record-Keeping

• Submission Confirmation: Save a digital and print copy of the AIS submission confirmation.
• Keep Backups: Retain both digital and paper copies of AIS-related documents, including financial statements and relevant correspondence.

Additional Steps for the 2024 AIS

Know Your Charity’s Size and Requirements

• Small Charities: Under $500,000 revenue. Basic financial questions only, with optional financial report submission.
• Medium Charities: $500,000 – $2,999,999 revenue. Required reviewed or audited financial report.
• Large Charities: $3 million or more revenue. Must submit audited financial report.

This size classification, available on the ACNC register, determines specific reporting requirements for each charity.

Reporting Period Check

• Confirm the financial year end date on the Charity Register. For updates, log in to the Charity Portal and use ‘Request a different reporting period’ under ‘Manage reporting’.

Update Address For Service

• Use a general email (e.g., [email protected]) as the Address For Service to ensure continuity in communications from ACNC.

Identify the Declaration Signatory

• Ensure the declaration is completed by an authorised individual, such as a Responsible Person (board member or trustee), authorised person (CEO or senior manager), an agent (with authorisation), or a lodging entity.

Include Key Management Personnel and Related Party Transactions

• Large charities report key management personnel remuneration.
• Medium and large charities disclose material related party transactions.

How We Can Assist

At The Breakthrough Office, we understand the complexities of AIS reporting and the pressure of meeting ACNC standards. Our tailored services help your not-for-profit organisation streamline the AIS process:

• Data Verification and Review: We assist in ensuring all data meets ACNC requirements.
• Governance Support: Our team provides guidance on governance policies and procedures for full compliance.
• Record-Keeping Solutions: We help establish best practices for retaining detailed, compliant records of your AIS submissions.

Get in touch with The Breakthrough Office today to make your AIS submission process seamless and compliant, ensuring you meet all ACNC standards with confidence.