Financial Overview 2015 – 16
Financial Performance
The financial performance is summarised from extracts of the audited financial statements of CareSouth for the period ended 30 June 2016.
Trading Results
The operating surplus for the year ended 30th June 2016 was $851,337. In the previous year it was $658,476.
Review of Operations
Growth in our Western Region, coupled with overall growth in Out-of-Home Care Services were the largest contributors to our growth from 2015 to 2016. Investment income had declined compared to the previous year due to investment in assets and lower interest rates. Donations were slightly down on the previous year.
Likely Developments
CareSouth intends to:
– Further consolidate its financial position by using cash funds to purchase premises where there is an expectation that the organisation will use the premises in the long term and where the interest forgone on the investment is less than the current rent. This will increase the long-term security for the organisation’s clients and reduce overall operating costs.
– Expand services provided to clients through the provision of more community-based services across a wider geographical area. Refer Excel Spreadsheet for “Consolidated Statement of Comprehensive Income”.
