A financial report has not been prepared for this report due to the COVID-19 restrictions. Our accountant, Kevin Thompson, will prepare it as soon as the lockdown restrictions are lifted. The report below showing the income and expenditure from 1 April 2019 to 31 March 2019 of The Independent Catholic Magazine Limited trading as Tui Motu InterIslands, indicates that the company is operating within its financial resources.
Subscriptions received during the year and donations covered the cost of the magazine production.
Donations
Donations, including the donation of the Editor’s services by the Sisters of St Joseph, the volunteers’ hours and the low rental for the premises charged by the Dominican Friars, have made a very valuable contribution to the overall financial position of the magazine.
We appreciate the generosity of subscribers, Religious Congregations, Mercy Hospital Dunedin and others who include donations with their annual subscription renewal.
Accuracy of Postal Address List
We achieved 96.6 per cent accuracy on our address list in 2019 which meant that we qualified for the top tier bulk mailing discount (a saving of approx $200 per mailout). This accuracy is due to Ann Hassan's care and attention to detail.