b'ASEG newsExecutive briefExecutive briefASEG AGM 2024 The number of ASEG Members has beenfees, conferences, and publications. gradually declining and is now justEducational activities also generated The Annual Generalbelow 800 compared with close to 1200some income. The main expenditure Meeting of thea decade ago. The number of studentitems were related to meetings, research ASEG was held atMembers dropped significantly aboutgrants, the secretariat, events and the XXXX Alehouse,five years ago and has now stabilisededucation. The netexpenditure for 2023 20 Paten St, Miltonat around 80. This is not surprisingwas $AUD740082 compared to the in Brisbane at 1730considering gradual disappearance of2022 net expenditure of $AUD454280. on 30 April 2024.geophysics courses from AustralianAll expenditure results in benefits Members joineduniversities. It was great to see anto Members. The President thanked the session in person and virtually andincrease in the number of retiredthe Finance Committee led by Yvette there was a quorum.Members, indicating that our olderPoudjom Djomani for putting the The outgoing Presidents report providedMembers are choosing to stay connectedsummary together. The detailed report an update on progress against the ASEGsto the ASEG. The WA and Internationalisavailable in the ASEG website. strategic initiatives and critical corebranches are the two largest branches inThe Directors for the Society for business, and highlighted of some of theterms of membership numbers. ACT, Vic2023/2024, nominated in accordance activities that the Society has undertaken inand Tas membership numbers have beenwith the Societys Constitution, were the past year. He started with appreciationstable, compared to a decline in numbersannounced during the AGM. Janelle Kerr for the volunteers who tirelesslyin the other branches.is the new President, congratulations contributed to the past years success.The President also presented an updateto Janelle. Ian James is the President-Currently a Volunteer Almanac is beingon the ASEGs finances at the AGM.Elect, the Treasurer is Yvette Poudjom finalised to acknowledge volunteers and toThe ASEG finances remain strong withDjomani and the Secretary is Asmita keep a record of their contribution for thenet assets of $AUD1120788. The totalManata. Eric Battig is continuing as a future. He also congratulated Honours andincome for the year was $AUD903804,Director in his role as immediate Past-Awards recipients, along with the Researchcompared to a total income ofPresident. Heartiest thanks to Eric for Foundation award recipients. The ASEG had$AUD385213 for 2022. The mainhis contribution as 2023 President. more than 30 technical events during thesources of income were membershipThanks also go to the outgoing Federal year, with nearly 1000 participants. There were also more than 20 social events with the number of attendees exceeding 500.2023 ($AUD) 2022 ($AUD)AEM 2023, CAGE23 and MAG23, were allRevenue 903 805 385 213very successful events. There were also outreach events and various webinarsAwards-12 395 -2000that the Society has contributed to.Bad debt expense-11 500The Federal Executive committee focusedConference expenses -398 395 -66 296on four key strategic areas during theDepreciation-1410year, including developing a sustainable model for the next 50 years, crafting andDonation-45 000 -45 000communicating the identity of the ASEG,Education-2500 -2191improving the volunteer experience, and, most importantly, creating andFinance expenses -8441 -6882delivering exceptional Member value.Insurance -4625 -4668A lot of work has been happeningMeeting expenses -96 823 -125 358in the area of improving the use of geophysics and the recognition of valueMembership expenses -8713 -11 958of geophysics including contributions toPublications-44 191 -79 261the JORC review, CAGE and MAG events for professional development, and theSecretariat-108 055 -95 367DISCOVER symposium later this year.Website & software -9 534 -3 799Work done on establishing the ASEG as theProfit (loss) before income tax16 ,723 -69 067society of choice for geophysicists included developing professional courses (CAGE).Income tax expense Work is in progress to deliver a new websiteProfit (loss) after income tax163 723 -69 067and membership database. Considerable work is also in progress in managingOther comprehensive income after income tax conference risks, and in diversifyingTotal comprehensive income for the year163 723 -69 067content revenue through collaborativeTotal comprehensive income attributable to members of163 723 -69 067workshops with AIG and PESA alongtheentitywith a commitment to AEGC 2024 and ongoing two-year cycle for that event.Figure 1. Statement of comprehensive income for the year ended 31 December 2023.JUNE 2024PREVIEW 5'