Read the full annual report - Queensland Council of Social Service
Read the full annual report - Queensland Council of Social Service
Read the full annual report - Queensland Council of Social Service
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Treasurer’s <strong>report</strong><br />
I hereby present <strong>the</strong> Independent Auditor’s Report for <strong>the</strong> financial year ending<br />
June 30, 2011.<br />
Commencing this year for a three-year period, <strong>the</strong> Board decided that QCOSS<br />
would invest some <strong>of</strong> <strong>the</strong> reasonably large surplus it had accrued to ensure that<br />
we had <strong>the</strong> right staffing and management structure in place to properly pursue<br />
<strong>the</strong> purposes <strong>of</strong> QCOSS – advocating for and with <strong>Queensland</strong>ers affected by<br />
poverty and inequality, and leading on issues <strong>of</strong> significance to <strong>the</strong> social, health<br />
and community sectors state-wide. For <strong>the</strong> 2010-11 year we budgeted for a small<br />
deficit, but due to prudent financial management, revenue growth <strong>of</strong> approximately<br />
18 per cent, a focus on cost control and effective investment <strong>of</strong> surplus cash,<br />
a surplus was recorded <strong>of</strong> $31,297. This means that our equity has grown to<br />
$1,014,420 and <strong>the</strong> investment <strong>of</strong> previous years’ surpluses was not required.<br />
This year we have again reduced many <strong>of</strong> our administrative costs, and this focus<br />
on cost control has allowed us to continue to work on investing our resources in <strong>the</strong><br />
things that matter – our advocacy on behalf <strong>of</strong> <strong>Queensland</strong>ers experiencing poverty<br />
and inequality and <strong>the</strong> sector that supports <strong>the</strong>m. In <strong>the</strong> forthcoming and future<br />
years we will need to continue this vigilance as additional cost pressures weigh on<br />
our budget, to ensure we remain in a sustainable financial position into <strong>the</strong> future.<br />
Louis de Beer - Treasurer<br />
19%<br />
Expenditure by strategic<br />
outcome area<br />
8%<br />
6%<br />
52%<br />
The impact <strong>of</strong> <strong>the</strong> <strong>Queensland</strong> Industrial Relations Commission Pay Equity decision<br />
continues to impact on our operations. QCOSS is proud to have championed<br />
this important change for our sector, and our capacity to recruit and retain skilled<br />
and effective staff is stronger than ever. We know that <strong>the</strong> decision was good for<br />
workers, for <strong>the</strong> community sector and for women. That said, our organisation<br />
has received no supplementary funding from <strong>the</strong> <strong>Queensland</strong> or Commonwealth<br />
Governments to meet <strong>the</strong>se additional costs and our wages costs are growing<br />
significantly faster than growth in our staff numbers or revenue. We are, however,<br />
managing <strong>the</strong>se additional cost pressures and have used a range <strong>of</strong> financial<br />
and workforce strategies to ensure that we are continuing to meet our strategic<br />
objectives, including our aim to be a strong, sustainable organisation that is an<br />
employer <strong>of</strong> choice and has an effective and committed Board and workforce.<br />
I would like to take this opportunity to thank <strong>the</strong> outgoing Director Jill Lang and<br />
her staff for <strong>the</strong>ir effective support to me, <strong>the</strong> Finance Committee and <strong>the</strong> Board in<br />
managing <strong>the</strong> financial and o<strong>the</strong>r resources <strong>of</strong> <strong>the</strong> organisation. Aside from being a<br />
powerful advocate, Jill has been an effective leader and prudent manager, and I wish<br />
her all <strong>the</strong> best in her future endeavors. I look forward to working with our new Director<br />
Mark Henley to maintain <strong>the</strong> strong financial position we have built over many years.<br />
15%<br />
Louis de Beer<br />
Sector development (52%)<br />
Community and member engagement (6%)<br />
QATSIHS Coalition (8%)<br />
Leadership, governance and<br />
management (19%)<br />
Policy advocacy (15%)<br />
Treasurer<br />
23