Untitled - Cerebral Palsy League

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• Service Region and Operating Unit controls – Service and Operating Units are required to comply with financial controls and procedures including information system controls detailed in procedures manuals • Functional Specialty Reporting – Key areas subject to regular reporting to the Board include Property Projects, Financial Operations and Marketing and Fundraising Initiatives • Investment Appraisal – Guidelines for Capital expenditure, levels of authority and project assessment are used Cerebral Palsy League of Queensland ( ) In addition, practices have been established to ensure: • • • • • • • Financial exposures are controlled Capital expenditure above a certain size obtain prior Board approval Occupational health and safety standards are monitored and regularly reviewed to achieve high standards of performance and compliance with regulations Business transactions are properly authorised and executed Environmental regulation compliance The quality and integrity of personnel is identified and maintained Financial reporting accuracy and compliance with the financial reporting regulatory framework Compliance with changes in government regulation One of the significant risks currently being managed by the League relates to the cost of compliance with government regulatory change. Many of the League’s building facilities are now aged and there is continuing financial pressure upon the League to meet new and improved government standards. The introduction of new fire safety regulations brought with it the potential to impact significantly upon the League’s ability to provide services due to the extremely high cost of ensuring that that all the League’s buildings are fully compliant. During the year the Directors have been required to urgently consider various options, particularly in relation to Fig Tree Pocket, to ensure that this potential impact can be managed and addressed in a timely manner and without detriment to the League or its clients. Occupational health and safety The Chief Executive Officer is responsible for ensuring the ongoing employee awareness of health and safety issues in the workplace. The League’s premiums are affected by the level of statutory and common law claims and the importance of this issue to the League was highlighted in 2003 by an extremely large increase in the League’s Workcover premium. In recent years, significant emphasis has been placed on educating staff, clients and their families on the importance of complying with directives relating to occupational health and safety, such as correct lifting procedures. This had the effect of reducing major injuries and of significantly reduced current year Workcover premiums from the 2003 levels however there has again been an increase in injuries in the 2004-2005 financial year which has contributed, once again, to a rise in premiums. Occupational health and safety is an extremely important issue for the League and its staff and clients and will be the focus of continued education during the year to ensure there is a good understanding of the importance of compliance with safe practices. The Board and senior management continually monitor employer safety statistics, review work practices and receive reports on the results of incident investigations throughout the year. Product liability This risk relates to the construction, adjustment and maintenance of equipment undertaken by Equipment Technology Services and is addressed through contractual arrangements and the League’s Quality Assurance processes. Assessment of effectiveness of risk management The Board is currently overseeing the establishment of an internal audit function to help it in ensuring compliance with internal controls and risk management programs. The internal audit reports will be issued to the Chairperson and to the Chairperson of the Finance Audit & Compliance Committee/Treasurer and tabled at the Finance Audit and Compliance committee meetings. This committee will be responsible for approving the program of internal audit visits to be conducted each financial year and the scope of the work to be performed. An independent review to assess and evaluate the quality of the internal function and its effectiveness will be performed at regular intervals to be determined by the committee. The committee will also be responsible for making recommendations to the Board concerning the appointment and dismissal of an internal auditor. Ethical Standards All Directors, managers and employees of the League are expected to act with the utmost integrity and objectivity, striving at all times to enhance the reputation and performance of the League. Every employee has a nominated supervisor to whom they may refer any issues arising from their employment. Executive Management have commenced the process of developing an Ethical Standards Manual which will document such policies. Code of Conduct The League has a policy that all Directors, managers and employees must comply with the Code of Conduct that is contained in the ethical standards manual. The policy addresses the following: • Aligning the behaviour of the Board, management and employees with the code of conduct by maintaining appropriate core company values and objectives • Fulfilling responsibilities to clients, customers and consumers by maintaining high standards of service delivery, product quality and safety of goods produced • Usefulness of financial information by maintaining integrity of data, appropriate accounting policies, practice and disclosure • Maintaining employment practices such as occupational health and safety, employment opportunity and community activities.
• Dispute resolution • Conflicts of interest • Responsibilities to the individual client, such as privacy, use of privileged or confidential information • Confidentially of corporate information • Compliance with legislation and laws • Fair dealing • Reporting of unethical behaviour • Protection and proper use of the company’s assets Quality and integrity of personnel A formal appraisal process has been implemented that requires that appraisals be conducted at least annually for all employees. Training and development opportunities and appropriate remuneration with regular performance reviews create an environment of cooperation and constructive dialogue between employees and senior management. Environmental Regulation The League’s operations do not pose any significant risk under either Commonwealth or State environmental legislation. However, the Board believes that the League has adequate systems in place for the management of its environmental obligations and is not aware of any breach of environmental requirements as they apply to the League. Members As at 30 June 2007 there were 238 members (2006: 247 members) of the League. To be a client of the League you do not need to be a member. Principal Activity The principal activity of the League during the financial year was the provision of services to people with cerebral palsy or related disabilities. No significant change in that activity has taken place during the year. Review and Results of Operations The operating deficit for the year ended 30 June 2007, as shown in the Income Statement, was $83,826 (2006: $729,119 deficit). The League continued to expand its service activities particularly in the area of lifestyle packages for individual adults and employment services. Government grants to fund the provision of services to children and adults increased from $27.451 million to $30.893 million. Revenue from sales, manufacture and modifications of specialised equipment and technical aids increased from $2.762 million to $3.063 million. Charitable fundraising activities helped fund service provision by producing a net income of $0.951 million as compared with $1.269 million last year. Overall, revenue and other income increased by 11.2% to $39.564 million while expenses increased by 7.13 % to $39.573million. Dividends No dividends were paid during the year and no recommendation is made as to dividends as Cerebral Palsy League of Queensland is prohibited by its Constitution from paying dividends to its members. State of Affairs In the opinion of the Directors there were no significant changes in the state of affairs of the League that occurred during the financial year under review not otherwise disclosed in this report or the financial statements. Cerebral Palsy League of Queensland ( ) Events Subsequent to End of Financial Year The Directors advise that there has not arisen, in the interval between the end of the financial year and the date of this report, any item, transaction or event of a material and unusual nature likely, in the opinion of the Directors, to affect the operations or state of affairs of the League. Likely Developments The League is continuing with the redevelopment of its property site at Fig Tree Pocket. Other than the above the Directors do not believe there will be any material changes in the operations of the League for the next twelve months. Non-audit Services During the financial year KPMG, the League’s auditor, has performed certain other services in addition to their statutory duties. The Board has considered the non-audit services provided during the year by the auditor, and is satisfied that the provision of those non audit services during the year by the auditor is compatible with and did not compromise the auditor independence requirements of the Corporations Act 2001 for the following reasons: • All non-audit services were subject to the corporate governance procedures adopted by the League and have been considered to ensure they do not impact the integrity and objectivity of the auditor • The non audit services provided do not undermine the general principles relating to auditor independence as set out in APES 110 Code of Ethics for Professional Accountants, as they do not involve reviewing or auditing the auditor’s own work, acting in a management or decision making capacity for the League, acting as an advocate for the League, or jointly sharing risks and rewards.
Page 3 and 4: Front Cover Image: League client, Z
Page 5 and 6: about the league The Cerebral Palsy
Page 7 and 8: chairperson and CEO foreword This y
Page 9 and 10: Pictured: League client, Bridie (th
Page 11 and 12: Pictured: Supported employees, Stev
Page 13 and 14: Pictured: More than 190 people atte
Page 15 and 16: Pictured: League client, Will Denny
Page 17 and 18: Pictured: Governor Bryce congratula
Page 19 and 20: Pictured: Supported employee, Ernes
Page 21 and 22: service development and policy Over
Page 23 and 24: Pictured: On behalf of the State CC
Page 25 and 26: Pictured: More than 30 people volun
Page 27 and 28: of agreements available to the Leag
Page 29 and 30: Pictured: Talented artist, John Mor
Page 31 and 32: Director’s Report The Directors p
Page 33 and 34: control, monitoring and reporting m
Page 35: Marketing and Fundraising Committee
Page 39 and 40: Statement of recognised Income & Ex
Page 41 and 42: Estimates and underlying assumption
Page 43 and 44: (j) Inventories Inventories are car
Page 45 and 46: Cash at bank and on hand as at the
Page 47 and 48: NOTE 15. PROPERTY, PLANT AND EQUIPM
Page 49 and 50: • The bank loan covering the purc
Page 51 and 52: NOTE 26. COMPANY NAME AND MEMBERS L
Page 53 and 54: NOTE 31. RESERVES NOTE 2007 $ Asset

Untitled - Cerebral Palsy League

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