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GM Account Statements | Recovery Of Outstanding Debts

VBOM Statements of Account
The Statements of Account have been produced by the Treasury Team and the Auditor for the period 1 Nov 2004 to 30 Oct 2005. The Statements of Accounts are in the form of an Excel spreadsheet with 2 tabs.

Tab 1 Balance Sheet as at 31 Oct 05
Tab 1 shows the Balance Sheet as at the end of the period 1 Nov 04 to 30 Oct 05. The Mess had net assets (equity) of $739,088.70, down from the opening balance of $744,102.97, a twelve month loss of $5,014.27.

Tab 2 Profit and Loss Statement for 1 Nov 03 to 31 Oct 04
Tab 2 shows the Profit and Loss Statement for the period 1 Nov 04 to 30 Oct 05. The spreadsheet details the nature of the loss of $5,014.27 between the various income, cost of sales and expense items within the VBOM Chart of Accounts.

How does the VBOM recover funds from members whose debt to the mess is over 60 days old?
The Member Debt Recovery Procedure has three stages:

• Reminder letter to the individual concerned from the PMC, VBOM;
• If still unpaid, a follow up letter to the individual's Unit CO from the CO, VBOM;
• If still unpaid, debt recovery is instituted under AMR 1927 REG 785 - Debt To Messes.

The Member Debt Recovery Procedure details these steps and contains the wording from AMR 1927 REG 785.

Ideally this procedure should not be necessary as it is a directive from the PMC, VBOM that all members clear their debts within 30 days, well inside the 60 days trigger for the initiation of this procedure.