Untitled - Menzies Inc.


Untitled - Menzies Inc.

Our MissionSupported by sound research, we developand deliver effective, efficient andsustainable therapeutic and preventionprograms for the benefit of young people,their families and the community.Our VisionTo be and be recognised as the mostinfluential and innovative provider ofservices that positively change the lives ofyoung people.

Table of ContentsTable of Contents..................................................................................................................................1President’s Report.................................................................................................................................2CEO’s Report......................................................................................................................................3Treasurer’s Report................................................................................................................................4Residential Care Services.........................................................................................................................7Sages Cottage Farm...............................................................................................................................8Menzies’ Homes Association.....................................................................................................................13Committee of Management......................................................................................................................15Supporters..........................................................................................................................................16The Organisation..................................................................................................................................18Donating to Menzies Inc..........................................................................................................................211

President’s ReportThe year has seen Menzies stabilise its BalanceSheet and achieve the prospect of sustainability in ourResidential Care services. This has come about throughdiligent administration by our Executive, the cooperationof our staff and a renewed and more realistic triennialfunding agreement with the Victorian government. We arethankful to all for the response they have each made to thecurrent realities of Residential Care.Accompanying the new service agreement was theexpectation that Menzies would attend to more youngpeople with more challenging behaviours and requiringmore intensive services. This has proven to be the case,and again we acknowledge the positive response our staffhas made in meeting these challenges.Menzies’ decision some years ago to broaden itsrange of services to young people continues to be anendeavour. While we enjoy substantial community supportfor our programs, we are still to achieve the long-termsustainability that we require. Every effort is beingemployed to make it a reality.I take this opportunity to thank the Committee who,as volunteers, contribute their interest and their skills insteering the organisation. Thanks go to our CEO HollyReid and our managers, who are responsible for executingthe Strategic Plan and importantly to our staff who havethe critical role of providing a positive influence upon theyoung people in our care.Finally, I thank our volunteers and our supportersin the community, particularly The Menzies’ HomesAssociation, The Wranglers Club, Frankston RSL andVictorian Sate Home Loans. Your support is trulyappreciated.Denis HildebrandPresidentBy a process of consultation between the Committee,Executive and with the assistance of facilitator, Mr IanStoney, Menzies developed our Strategic Plan which laysout our aspirations, our ambitions and our challengesfor the next three years. Essentially it challenges theorganisation to best use its resources, human and financial,in the provision of services to young people in need. TheCommittee has also been vigilant in engaging the relevantsubcommittee with the issues of governance, risk andresource management as they have arisen or as they wereanticipated.Unfortunately we lost the services of Kim Jacksonfrom our Committee because of pressing family reasonsand we thank Kim for the insightful analysis that shebrought to Committee responsibilities. Two new membersjoined us: Wayne Lovie, with a background in educationand business and Roy Watts who has been a generoussupporter of Menzies over many years. Roy’s reputation asa fundraiser for charity is second to none, and we are mostfortunate to have attracted his support.2

CEO’s ReportIt is with pleasure that I present my fourth reportas CEO of Menzies Inc. The organisation has moved fromstrength to strength but more importantly, our youngpeople have thrived in our care. The outcomes of theirexperiences at Menzies have been pleasing for some andheart-warming for others.As to the financial highlights, this reportdemonstrates the following achievements:• Operating result moved from a deficit of $108,643 to asurplus of $65,222, an improvement of 160%.• The cash flow from operations rose to $118,457compared to a deficit of $78,439 last year, animprovement of 250%.• Our income has increased from $3,411,995 to$3,528,104, up 3%.• Our employee expenses are down from $2,727,517 to$2,513,566, a decrease of almost 8% now in line withother like organisations.• Philanthropic grants and donations rose to $321,759.• The launch and success of our new community radioprogram at 3RPP (98.7 FM), “Making Waves - Kids onAir”, every Tuesday from 4-5pm.We are ever grateful for the financial support wereceive from our individual, community and corporatedonors and sponsors. We also applaud our volunteers fortheir in-kind assistance to our work. Without their helpand the dedication of our staff, the following stories wouldnot have been possible.This year we have embraced services forintellectually disabled children in one of our homes. Oneof our young boys, “Jason”, came to us as a six year oldwith autism. The carers encouraged him daily in waysto eat with a spoon instead of his hands. One of oursupervisors told me of his progress, explaining how oneday he was able to finish a bowl of pasta using a spoon.It was a milestone for him, and the carers celebrated hissuccess with him. The next day I heard he also was using anapkin to wipe his face when eating cornflakes, again witha spoon. One of the cornflakes fell on his knee as he ate.Several minutes later, he noticed this, picked it up –andplaced it back in his spoon. We are very happy for “Jason”that he has been able to settle into routines with obviousprogress—enough so that he is now with a foster carer.“Anna” was one of our first young people in ourTherapeutic Residential Care pilot program. She had amagnificent experience of preparing for and presentingherself at the Melbourne Town Hall at the 2009 DebutanteBall for young people in out-of-home care. Her words, asexpressed at the end of a colourful mini-poster, reflectedher feelings: “I would not have been able to get throughthe night without my carers. Everyone was so beautifulin their dress. I looked really beautiful and gorgeous.It was the first time in my life I felt special and I willalways remember it”. “Anna” is now in a semi-supportedaccommodation setting through DHS, Disability ClientServices and is finishing her final year at school. We arealso very happy for “Anna”.Menzies’ people - staff, volunteers and stakeholdersalike – enrich the lives of those who need our careand services. I applaud their efforts. I also thank theCommittee of Management, in particular, DenisHildebrand, for guidance throughout the year and theExecutive team for their strategic thinking and thoughtfulcare in their daily work.Holly ReidChief Executive Officer

Treasurer’s ReportThe 2009 /10 financial year saw a continuedimprovement in the financial performance of Menzieswith the organisation achieving an operating surplus forthe year of $65,222. [2008/9 ($108,643)]. Followinga number of years of steadily decreasing losses, thisoperating result is very pleasing to present to the Meeting.The net result for the year was a loss of $158,436[2009 ($399,852)] arising from the revaluation of ourassets which resulted in write downs of our land andbuildings in the current economic climate. Nonetheless,the overall result is a significant improvement for Menzies.This outcome has been achieved through a variety offactors including the increased funding for residential careservices from the Department of Human Services and there-funding for one of the state’s ‘Therapeutic ResidentialCare Pilots’. This model of care has been appropriatelyfunded to deliver a much superior program to ourchildren.Both of these initiatives have assisted in providing asustainable base for the future. Whilst we acknowledgethe support of the Department in revising its funding, weneed to maintain a rigorous review of our processes withgovernment to ensure that this funding is appropriatelymaintained.I wish to thank the support of our staff who travelthe ‘extra mile’ and our community sponsors andsupporters. Without you, we would have a much harderstruggle to achieve the success we have with our clients.And finally, I extend a word in appreciation of ourCEO, Holly Reid and Finance Manager, Jacinta Dunn aswell as to our Program Managers Maree Baird and MaryBeth Melton and all of our staff and volunteers who giveof themselves to enrich the lives of others.This is my third report and I have been really pleasedto see the organisation progress. It is my pleasure to handthe ongoing financial responsibility on to the incomingTreasurer, Sean Limpens. I wish the Committee futuresuccess as they guide the organisation forward.Stuart Shaw JP, CPA, MAICDTreasurerWhilst our residential programs are the cornerstoneof our services, we also have an opportunity to developalternative programs to further enhance the lives of thechildren entrusted to our care. These programs, however,do not come without a cost. Had it not been for the strongrelationships established with a number of charitable trustsand donors, who last year contributed over $200,000to these programs, our situation would have beensignificantly worse.We continue to assess the optimum manner by whichwe can deliver such programs to children for maximumadvantage. Whilst there is sufficient evidence that ourprograms deliver an excellent outcome for the childrenand families, without a funding base these programssimply will not be able to continue.Menzies is a small organisation and has delivered itsservices to many children and families in need of supportand assistance for nearly 150 years. The challenges aremany with services and other areas of need being underfunded.Notwithstanding, the Menzies ‘family’ is strongand united in focussing on achieving good outcomes forour clients.

Residential Care ServicesWe pride ourselves at Menzies in giving our youngpeople the opportunity to have memorable experiencesand build meaningful relationships. Our carers spendvaluable one on one time with our young people, whetherit be cooking a meal together or taking them to playcompetition tennis. This year there has also been somefantastic day trips, holidays and community integration.It all began with the Melbourne 2009 Lord Mayor’s(Robert Doyle) Christmas in July – lunch, music, dancingand photos with celebrities, followed in August with twoof our girls playing in the local basketball competitiongrand final and winning! There were trips to the snow anda picnic in the Dandenong Ranges where the birds werevery well fed.September school holidays saw four of our youngpeople and carers head to the city for two nights wherethey visited the Koori Heritage Trust Cultural Centre, haddinner in cosmopolitan Lygon Street and volunteered at asoup kitchen – some great learning experiences!Menzies and DHS Disability Services havealso formed a very positive and productive workingrelationship to improve the services for our young peoplewith disabilities, particularly leaving care outcomes.Residential Care Registration Standards wereintroduced in 2007 and over the last two years have beenimplemented in our residential care services.The Department of Human Services have contractedindependent reviewers to conduct external audits in allorganisations providing residential care to young people.Our external review was conducted in September2009. We invested considerable time in preparing for thereview and were very pleased with the outcome.Menzies remains committed to continuous qualityimprovement across the organisation and will continue tooffer high quality services to young people in residentialcare.Menzies’ Therapeutic Residential Care Pilotcontinues to provide a holistic approach to the wellbeing,independence and personal success of young peoplewith mild intellectual disabilities, a group that is overrepresentedin Menzies and in the Victorian care system.A second Menzies’ home is now specialising in caringfor young people with disabilities, primarily autism. Weresponded to a request from DHS to care for these youngpeople and have worked together to provide them with agreat environment and specialised care.

Sages Cottage FarmGeneral VolunteersSages Cottage Farm has a variety of groups andindividuals who volunteer their time to assist Menzies inmaintaining and developing the property for the use ofchildren and their families who use our services.Volunteer programs for groups and individualsincluding:• Gardening• Bushland• Animal Care• Hospitality• Maintenance• Heritage volunteersMenzies thanks all volunteers and people who givetheir time to make Sages Cottage Farm what it is today.Through the volunteers’ great work, Menzies is able tooffer young people, their families and community a varietyof services throughout the Mornington Peninsula and thebroader region.Heritage Victoria andConservation VolunteersThe Heritagecare volunteers help care for SagesCottage Farm by assisting in general clean up andmaintenance, as part of the Hands-on-Heritage programmanaged by Conservation Volunteers Australia.This is our second year of partnership with theHeritagecare Volunteer group and we are most pleased tohave been able to continue to develop this partnership.Vodafone, NAB And PfizerCorporate VolunteersCommunity GardenWorking Bee - EngineersWithout BordersIn late 2009, Sages Cottage Farm hosted a workingbee with a group of 20 people from Engineers withoutBorders (EWB) to install irrigation in the CommunityKitchen Gardens.This tank (supplied by EWB) also feeds the irrigationsystem for the Cottage Gardens, and was installed byEWB members undertaking a working bee earlier in2009. The EWB have been a welcome addition to thecorporate volunteer teams at Sages Cottage Farm and weare proud to welcome them back in the 09/10 year.In early 2010, over 70 volunteers from Vodafone,NAB, EXXON Mobil, Yellow Pages and Pfizer dedicatedin total six entire days to working at Sages Cottage Farmwhere they participated in a wide variety of helpfulactivities on site.8

School Groups OfVolunteersWe also continue to host many school basedvolunteer groups on the property, including NarrangaSpecial School and The Peninsula School. These studentsparticipate in building projects on the property and alsowork in the Community Kitchen Gardens to maintain thearea, plant and harvest fresh fruits and vegetables for theanimals and assist in other projects on site.TraineeshipsEarly School Leavers ProgramThe Early School Leavers (ESL) program aims toreduce offending and violence by young people who arecase managed by Youth Justice by reconnecting them intosupportive learning environments.The ESL Workers provide intensive outreach clientsupport and work with very small caseloads in order tospend more individualized time with each young person.This past year 33 out of 46 clients reengaged backinto education settings and were able to maintain theireducational placement post ESL involvement to date.We are also very pleased with the continueddevelopment of our school-based traineeship programs.In 09/10 we offered on site a Certificate II in Horticultureand a Certificate III in Hospitality. We hope that ourtraineeship programs continue to show the youngerchildren who participate in the therapy that there arepathways to education, employment and training that canalso become accessible opportunities for them.Animal Assisted TherapyAnimal Assisted Therapy involves the thoughtful useof animals in the therapeutic setting by a trained clinicianwho has developed a set of goals for each client, a plan forhow to achieve these goals, and a plan for how the animalor animals will be used to assist the child and the clinicianto achieve the goals of therapy.The use of animals in the therapeutic setting is aneffective tool to engage children and young people. Theprograms have been developed with a combination ofanimal interventions and traditional therapy techniques toaddress personal issues and develop pro-social behaviours.Enhanced Visitation CentreThe EVC program at Sages Cottage Farm is designedto assist Child Protection clients where there is a needto provide supervised access visits between parents andchildren.The Enhanced Visitation Centre (EVC) at SagesCottage Farm offers families a safe and secure place torelax and enjoy supervised time with their children, as acondition of their court order.9


MENZIES INCCONTENTSCommittee’s Report 3Statement of Comprehensive Income 4Statement of Financial Position (Balance Sheet) 5Statement of Changes in Equity 6Statement of Cash Flows 7Notes to the Financial Statements 8Statement by Members of the Committee 25Independent Auditors' Report to the Members 26

MENZIES INCCOMMITTEE’S REPORTYour Committee members present this report of Menzies Incorporated for the financial year ended 30 th June 2010COMMITTEE MEMBERSThe names of Committee members throughout the year and to the date of this report were:Mr Denis Hildebrand, President.Pharmacist; Member since 1985Mr Phil Jones, Vice President. Hotel Proprietor, Frankston International HotelMember since 2002Mr Stuart Shaw, Treasurer. General Manager Village BaxterMember since 2008Mr Greg Lacey, Principal Tyabb Primary SchoolMember since 2008Mr Russell Campbell, Business owner, Brumby’s Bakery FrankstonMember since 2000Mr Alan Splatt, Partner, Taylor Splatt & Partners LawyersMember since 2007Mr Steve Pallas, CEO, KeyCoverMember since 2008Mr Wayne Lovie, Principal, Aldercourt Primary SchoolResigned 15th August 2010Mr Roy Watts, Director DKR Australia Pty Ltd.Member since 2009Mr Kevin Johnson, Director CMJ Solutions, Appointed 15th August 2010Each Committee member has been in office since the start of the financial year to the date of this report unlessotherwise stated.PRINCIPAL ACTIVITIESThe principal activity of the entity during the financial year continued to be the provision of a broad range ofprograms and services designed to equip young people who can no longer live with their natural parents with thelife skills they need to lead independent fulfilled lives.SIGNIFICANT CHANGESNo significant changes occurred in the nature of this activity during the year.OPERATING RESULTThe surplus (deficit) for the year before the revaluation of assets amounted to $65,2212009 $ (108,643).Overall the property and investment valuation write downs were 2010 $(223,658) 2009 $(291,209).Total Comprehensive Income (Loss) for 2010 was $(158,436) 2009 $(399,852).Signed in accordance with a resolution of the members of the Committee.______September 2010 September 2010Page 3

MENZIES INCSTATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED 30 JUNE 20102010$2009$NoteREVENUEGovernment Grants and Services Income 3,148,877 3,169,372Philanthropic Grants 221,329 40,000Donations 4,430 19,927Net investment income 43,758 67,475Interest Received 10,590 20,218Other revenue 99,120 95,003TOTAL REVENUE 3,528,104 3,411,995EXPENDITUREEmployee Benefit Expense 2,513,566 2,727,517Depreciation and Amortisation 95,692 98,704Operating Lease expenses 0 0Finance Costs 3,596 6,991Other expenses from ordinary activities 850,028 687,426TOTAL EXPENDITURE 2 3,462,882 3,520,638SURPLUS (DEFICIT) BEFORE INCOME TAX 2ATTRIBUTABLE TO MEMBERS OF THE ENTITY65,222 (108,643)Income Tax 0 0SURPLUS (DEFICIT) AFTER INCOME TAXATTRIBUTABLE TO MEMBERS OF THE ENTITY 65,222 (108,643)OTHER COMPREHENSIVE INCOME (EXPENSE)Net gain(loss) on revaluation of financialassets 103,181 (256,256)Net gain(loss) on revaluation Land & Buildings (326,839) (34,953)Total other comprehensive income(expense) (223,658) (291,209)TOTAL COMPREHENSIVE INCOME( LOSS)FOR THE YEAR ATTRIBUTABLE TOMEMBERS OF THE ENTITY (158,436) (399,852)Page 4

MENZIES INCSTATEMENT OF FINANCIAL POSITIONFOR THE YEAR ENDED 30 JUNE 2010NoteCURRENT ASSETSCash and Cash Equivalents 3 387,406 337,820Trade and Other Receivables 4 210,175 10,425Financial Assets 5 820,523 712,999Other current assets 6 23,772 85,140TOTAL CURRENT ASSETS 1,441,876 1,146,384NON-CURRENT ASSETSProperty, plant and equipment 7 4,592,011 4,935,337TOTAL NON-CURRENT ASSETS 4,952,011 4,935,337TOTAL ASSETS 6,033,887 6,081,721CURRENT LIABILITIESTrade and Other Creditors 8 124,608 163,020Short-term Provisions payable 9 135,253 126,012Grants and Income Received in Advance 10 222,202 103,690TOTAL CURRENT LIABILITIES 482,063 392,722NON-CURRENT LIABILITIESFinancial Liabilities 8 41,164 30,636Long-term Provisions payable 9 166,573 155,839TOTAL NON-CURRENT LIABILITIES 207,737 186,475TOTAL LIABILITIES 689,800 579,197NET ASSETS (LIABILITIES) 5,344,087 5,502,524EQUITYReserves – Revaluation of Freehold Property 3,213,138 3,539,977Reserves – Financial assets 292,148 188,967Retained Earnings 1,838,801 1,773,580TOTAL EQUITY 5,344,087 5,502,5242010$2009$Page 5

MENZIES INCSTATEMENT OF CHANGES IN EQUITYFOR THE YEAR ENDED 30 JUNE 2010Reserves-Revaluation ofFreeholdPropertyReserves-Financial AssetRetainedEarningsTotalBalance of equity at 30th June 2008 3,539,977 445,223 1,917,176 5,902,3762009Profit (Loss) attributable to members (108,643) (108,643)Profit (loss) on revaluation of financial assets (256,256) (34,953) (291,209)Balance of equity at 30 th June 2009 3,539,977 188,967 1,773,580 5,502,5242010Profit (Loss) attributable to members 65,221 65,221Profit (loss) on revaluation of financial assets (326,839) 103,181 (223,658)Balance of equity at 30 th June 2010 3,213,138 292,148 1,838,801 5,344,087Page 6

MENZIES INCSTATEMENT OF CASH FLOWSFOR THE YEAR ENDED 30TH JUNE 2010Note2010$2009$CASH FLOW FROM OPERATING ACTIVITIESActive OperationsCash Receipts from:- Government Agencies 3,662,478 3,262,358- Philanthropic Income 221,329 40,000Donations 100,430 19,928- Other Income 69,082 95,003Payments to suppliers and employees (3,989,209) (3,583,420)Total Active Operations 64,110 (166,131)Passive OperationsInterest Income 10,590 20,218Investment Income 43,757 67,474Total Passive Income 54,347 87,692Net cash generated by (used in) operating activities 14 118,457 (78,439)CASH FLOWS FROM INVESTING ACTIVITIESPayment for Investments purchased (4,343) 0Payments for Property, Plant & Equipment (89,498) (80,521)Proceeds from Disposal of Property, Plant & Equipment 10,247 0Net cash generated by (used in) investing activities (83,594) (80,521)CASH FLOWS FROM FINANCING ACTIVITIESIncrease Finance Leasing 14,723 0Net cash generated by (used in) financing activities 14,723 0Net Increase (decrease) in cash held 49,586 (158,960)Cash at the beginning of the financial year 337,820 496,780Cash at the end of the financial year 3 387,406 337,820Page 7

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010The financial statements cover Menzies Incorporated (Menzies) as an individual entity. It is an associationincorporated in Victoria under the Associations Incorporation Act 1981. It is a not-for-profit public benevolentinstitution; as such it is exempt from income tax.NOTE 1SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESBasis of PreparationThe financial statements are general purpose financial statements that have been prepared in accordance withAccounting Standards, including Australian Accounting Interpretations and the Associations Incorporation Act 1981Australian Accounting Standards set out accounting policies that the AASB has concluded would result in financialstatements containing relevant and reliable information about transactions, events and conditions. Materialaccounting policies adopted in the preparation of these financial statements are presented below and have beenconsistently applied unless otherwise stated.Reporting basis and conventionsThe financial statements have been prepared on an accruals basis and are based on historical costs modifiedwhere applicable by the measurement at fair value of selected non-current assets, financial assets and financialliabilities.Accounting PoliciesRevenueInterest revenue is recognised on a proportional basis taking into account the interest rates applicable to thefinancial assets.Revenue from the rendering of a service is recognised upon the delivery of the service to the customers.Grants are recognised at fair value where there is reasonable assurance that the grant will be received and allgrant conditions will be met. Grants relating to expense items are recognised as income over the periodsnecessary to match the grant to the costs they are compensating. Grants relating to assets are credited todeferred income at fair value and are credited to income over the expected useful life of the asset on astraight-line basis.All revenue is stated net of the amount of Goods and Services Tax (GST)Menzies Inc is in receipt of Grant Income from Government and various philanthropic sources. Menzies Incendeavours to match its expenditures with the receipt of grants as far as practical. To this extent, grantincome received for specified projects or periods which has not been expended or is not yet due to beexpended at balance date has been treated as income in advance and not brought to account as income inthe period of receipt. Such amounts are held to be brought to account and matched to expenditure insubsequent periods.Specific capital expenditure grants received are treated as deferred grant income and are brought to accountas income over the expected useful life of the assets acquired.Page 8

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010Minor assets that are used in the various homes and which may have been partly fundedby Government grant or subsidy are regarded as expenses of operating the homes. Theseitems have been included as expenses generally under the heading of repairs andmaintenance. Significant building works or acquisitions are capitalized at historical costunless otherwise stated.Refurbishment and minor works are written off as expenses of operating the homes.Land and Buildings were revalued at end of June 2010 by a qualified valuer. TheCommittee revalues land and buildings every three years.DepreciationThe depreciable amount of Buildings (but not freehold land), Motor Vehicles, OfficeFurniture and Equipment and Plant and Equipment are depreciated on a written down value(WDV) or a straight line basis over their useful lives to the entity commencing from the timethe asset is held ready for use. Leasehold improvements are depreciated over the shorterof either the unexpired period of the lease or the estimated useful lives of theimprovements.The depreciation rates used for each class of depreciable assets are:Class of Asset Depreciation Rate MethodFurniture, Fittings & Equipment 7.55% to 37.5% Straight Line and WDVMotor Vehicles 18.75% to 22.5% WDVBuildings 2.5% Straight LineThe assets' residual values and useful lives are reviewed, and adjusted if appropriate, ateach balance sheet date.An asset's carrying amount is written down immediately to its recoverable amount if theasset's carrying amount is greater than its estimated recoverable amount.Gains and losses on disposals are determined by comparing proceeds with the carryingamount. These gains or losses are included in the income statement. When revaluedassets are sold, amounts included in the revaluation reserve relating to that asset aretransferred to retained earnings.Page 10

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010LeasesLeases of fixed assets, where substantially all the risks and benefits incidental to theownership of the asset, but not the legal ownership that are transferred to the entity, areclassified as finance leases.Finance leases are capitalized by recording an asset and a liability at the lower of theamounts equal to the fair value of the leased property or the present value of the minimumlease payments, including any guaranteed residual values. Lease payments are allocatedbetween the reduction of the lease liability and the lease interest expense for the period.Leased assets are depreciated on a straight-line basis over the shorter of their estimateduseful lives or the lease term.Lease payments for operating leases, where substantially all the risks and benefits remainwith the lessor, are charged as expenses in the periods in which they are incurred.Lease incentives under operating leases are recognised as a liability and amortized on astraight-line basis over the life of the lease term.Financial InstrumentsRecognitionFinancial instruments are initially measured at cost on trade date, which includestransaction costs, when the related contractual rights or obligations exist. Subsequent toinitial recognition these instruments are measured as set out below.Financial assets at fair value through profit and lossA financial asset is classified in this category if acquired principally for the purpose of sellingin the short term or if so designated by management and within the requirements of AASB139: Financial Instruments: Recognition and Measurement. Derivatives are alsocategorized as held for trading unless they are designated as hedges. Realized andunrealized gains and losses arising from changes in the fair value of these assets areincluded in the income statement in the period in which they arise.Loans and receivablesLoans and receivables are non-derivative financial assets with fixed or determinablepayments that are not quoted in an active market and are stated at amortized cost usingthe effective interest rate method.Held-to-maturity investmentsThese investments have fixed maturities, and it is the entity’s intention to hold theseinvestments to maturity. Any held-to-maturity investments held by the entityare stated at amortized cost using the effective interest rate method.Page 11

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010Available-for-sale financial assetsAvailable-for-sale financial assets include any financial assets not included in the abovecategories. Available-for-sale financial assets are reflected at fair value.Financial liabilitiesNon-derivative financial liabilities are recognised at amortized cost, comprising original debtless principal payments and amortization.Fair valueFair value is determined based on current bid prices for all quoted investments. Valuationtechniques are applied to determine the fair value for all unlisted securities, including recentarm's length transactions, reference to similar instruments and option pricing models.ImpairmentAt each reporting date, the entity assesses whether there is objective evidence that afinancial instrument has been impaired. In the case of available-for-sale financialinstruments, a prolonged decline in the value of the instrument is considered to determinewhether impairment has arisen. Impairment losses are recognised in the income statement.As a not-for-profit entity the value in use of an asset may be equivalent to the depreciatedreplacement cost of that asset when the future economic benefits of the asset is notprimarily dependent on the asset’s ability to generate net cash inflows and where the entitywould, if deprived of the asset, replace its remaining future economic benefits.ProvisionsProvisions are recognised when the entity has a legal or constructive obligation, as a resultof past events, for which it is probable that an outflow of economic benefits will result andthat outflow can be reliably measured.Page 12

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010Employee BenefitsProvision is made for the entity's liability for employee benefits arising from servicesrendered by employees to balance date. Employee benefits that are expected to be settledwithin one year have been measured at the amounts expected to be paid when the liabilityis settled, plus related on-costs. Employee benefits payable later than one year have beenmeasured at the present value of the estimated future cash outflows to be made for thosebenefits.Cash and Cash EquivalentsCash and cash equivalents include cash on hand, deposits held at call with banks, othershort-term highly liquid investments with original maturities of three months or less.Unspent Grant FundsUnspent Grant Funds available as revenue or liable to be returned to the grant provider inthe following year are recognised as a current liability in the balance sheet. They are nottreated as an operating surplus or profit.AASB 101 – Presentation of Financial StatementsThere have been changes in the Australian Accounting Standards Board (AASB) standardsAASB101 that require changes to the presentation of certain information within the financialstatements. Below is an overview of the key changes and their impact on these financialstatements.Disclosure impactTerminology changes: - The revised version of AASB 101 contains a number of terminologychanges, including to the names of the primary financial statements. Put simply the Profitand Loss Statement is now termed the ‘Statement of Comprehensive Income’ and theBalance Sheet is now the ‘Statement of Financial Position’.Reporting changes in equity: – The revised AASB 101 requires all changes in equity arisingfrom transactions with owners, in their capacity as owners, to be presented separately from‘non-owner’ changes in equity. ‘Non-owner’ changes are shown in the Statement ofComprehensive Income and ‘Owner changes’ are shown in the Statement of Changes inEquity.Other comprehensive income: - AASB 101 introduces the concept of ‘OtherComprehensive Income’ which is income and expense items that are not required to beshown in the Profit and Loss under other Australian Accounting Standards.Page 13

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010New Accounting Standards for Application in Future PeriodsThe AASB has issued new and amended accounting standards and interpretations thathave mandatory application for future accounting periods. The entity has decided againstearly adoption of these standards.NOTE 2REVENUE AND EXPENSE ITEMSAuditor’s remuneration forAudit or review of financial statements 6,000 6,000Other Services6,000 6,0002010$Bad and doubtful debtsTrade Receivables - -Total bad and doubtful debts - -Rental expense on operating leasesOperating Lease Minimum Lease Payment - -Significant Revenue and Expense changes from Prior Year2009$The following significant revenue and expense changes are relevant in explaining the financialperformance [Decrease in ( ) ]Rounded RoundedRevenueGovernment grants and Service Income (21,000) 363,000Philanthropic grants 181,000ExpensesTotal Payroll Expenses 162,000 305,000Lucerne pilot expenses (51,000)East Road expenses (19,000)Sages expenses (13,000)McMurtry expenses (11,000)Marketing 17,000Admin Maintenance (26,000)DecrementDecrement in Investments 34,000 (35,000)Page 14

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010NOTE 3 CASH AND CASH EQUIVALENTS2010$2009$Reconciliation of cashCash at the end of the financial period as shown in the cash flowstatement is reconciled to the related items in the statement of financialposition as follows:Current Assets Cash on Hand 1,855 1,693 Cash at Bank 131,999 91,606 On-Line Investment A/C 253,552 244,521Total Cash and Cash Equivalents 387,406 337,820NOTE 4TRADE AND OTHER RECEIVABLESCurrentTrade Debtors 10,225 10,425Less: Provision for Impairment of receivables 0 010,225 10,425Other receivablesGrants receivable 160,000 0Other sundry debtors 39,950 0Total current trade and other receivablesProvision for impairment of receivables199,950 0210,175 10,425Current trade debtors are generally on 30 day terms. These receivables are assessed for recoverabilityand a provision for impairment is recognised when there is objective evidence that an individual tradereceivable is impaired. These amounts (if any) have been included in other expense items.Movement in the provision for impairment of receivables is as follows:-Provision for impairmentBalance at 30 th June 2008 0Charge for yearWritten offBalance at 30 th June 2009 0Charge for yearWritten offBalance at 30 th June 2010 0Page 15

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010Credit risk – Trade and Other ReceivablesThe entity does not have any material credit risk to any single receivable or group of receivables.The following table details the entity’s trade and other receivables exposed to credit risk with ageinganalysis and impairment provided for thereon. Amounts are considered as “past due” when the debt hasnot been settled within the terms and conditions agreed between the entity and the debtor party.An assessment has been made that both debts within trading terms and debts that have not beenimpaired will be received.2010Trade and termreceivablesGrossamountLessimpairedWithin tradingtermsPast duebut notimpairedPast duebut notimpaired90 days10,225 430 800 5,700 3,295Other receivables 199,950 199,950Total 210,175 199,950 430 800 5,700 3,2952009Trade and term 10,425 10,000 425receivablesOther receivables -Total 10,425 10,000 425NOTE 5FINANCIAL ASSETS2010$2009$CurrentAvailable for sale Financial AssetsShares in listed companies – Fair Value 341,964 281,325Managed Investments – Fair Value 478,559 431,674820,523 712,999NOTE 6 OTHER CURRENT ASSETSCurrentAccrued Income - 68,000Prepayments 23,772 17,14023,772 85,140Page 16

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010NOTE 7 PROPERTY, PLANT AND EQUIPMENT2010$2009$Land & Buildings at Independent Valuation June 2010 4,295,000 4,525,000Less: Accumulated depreciation 0 0Buildings at cost 0 10,909Less: Accumulated depreciationTotal Buildings 4,295,000 4,535,909Sages Cottage Capital Improvements 0 78,069Less: Accumulated depreciationTotal Sages Cottages Capital Improvements 0 78,069Total Land & Buildings 4,295,000 4,613,978Motor Vehicles 297,293 296,065Less: Accumulated depreciation (188,284) (171,955)Total Motor Vehicles 109,009 124,110Furniture and Fittings & Equipment – at cost 706,705 644,632Less: Accumulated depreciation (518,703) (447,383)Total Furniture and Fittings & Equipment 188,002 197,249Total Property, Plant and Equipment 4,592,011 4,935,337Movements in Carrying AmountsMovement in the carrying amounts for each class of property, plant and equipmentLand &Buildings atvaluationBuilding atcostSages capitalimprovements2008Carrying amount at 30 th June 2008 4,525,000 10,909 37,9652009Additions at cost 40,104DisposalsDepreciation ExpenseCarrying amount at 30 th June 2009 4,525,000 10,909 78,0692010 (230,000) (10,909) (85,930)RevaluationAdditions at cost 7,861DisposalsDepreciation ExpenseCarrying amount at 30 th June 2010 4,295,000 0 0Page 17

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010MotorVehiclesFurnitureand FittingsTotal2008Carrying amount at 30 th June 2008 152,926 226,720 4,953,5202009Additions at cost 0 80,521 120,625Disposals 0 (40,104) (40,104)Depreciation Expense (28,816) (69,888) (98,704)Carrying amount at 30 th June 2009 124,110 197,249 4,935,3372010Revaluation (326,839)Additions at cost 19,618 62,019 89,498Disposals (10,347) 0 (10,347)Depreciation Expense (24,372) (71,266) (95,638)Carrying amount at 30 th June 2010 109,009 188,002 4,592,001NOTE 8 TRADE AND OTHER CREDITORS2010$2009$CurrentTrade Creditors 17,049 39,820Other Creditors 94,526 70,969Finance Leases 13,033 8,838Auspiced Grant Income 0 43,393124,608 163,020Non CurrentFinance Leases 41,164 30,636NOTE 9PROVISIONSCurrentProvision for Annual Leave 135,253 126,012135,253 126,012Non-currentProvision for Long Service Leave 166,573 155,839166,573 155,839NOTE 10 GRANTS & INCOME IN ADVANCEIncome in Advance 51,202 28,690Prepaid Grants Income 75,000 75,000Prepaid Donation 96,000 0222,202 103,690Page 18

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010NOTE 11CAPITAL AND LEASING COMMITMENTS2010$2009$Operating Lease CommitmentsNon-cancellable operating leases contracted for but not capitalizedin the financial statements:Payable – minimum lease payments- no longer than 1 year 13,033 8,401- longer than 1 year but not longer than 5 years 46,100 30,636- greater than 5 years59,133 39,037Capital Expenditure commitmentsCapital Expenditure commitments contracted for:- Plant & Equipment purchases- Capital Expenditure projects 150,000Payable- no longer than 1 year 150,000- longer than 1 year but not longer than 5 years- grater than 5 yearsMenzies Inc continues development of its Sages Cottage and Children’s Farm therapeutic Model.NOTE 12CONTINGENT LIABILITIES & CONTINGENT ASSETSNo contingent Liabilities or Assets exist.NOTE 13EVENTS AFTER THE BALANCE SHEET DATEThere have been no material non-adjusting events after the reporting date, nor has anyinformation been received about conditions at reporting date that have not been included in thisreport.Page 19

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010NOTE 14CASH FLOW INFORMATION2010$2009$Reconciliation of cash flow from operations to surplus (deficit) for the yearNet Profit /(Loss) after tax 65,222 (108,643)Less (Gain) (Loss) on disposal of assets 0Non-cash flows in profit after taxDepreciation 95,638 98,704Increase / (Decrease) in provisions 19,975 (10,673)Decrease/ (Increase) in Trade and otherreceivables (199,750) 110,986Increase / (Decrease) in Trade and other payables (42,608) (99,282)Decrease /(Increase) in prepayments 61,368 (1,531)Increase /( Decrease) in Grants and Income inAdvance 118,512 (68,000)Net Cash flow from operating activity 118,357 (78,439)NOTE 15ECONOMIC DEPENDENCEThe entity is economically dependent on Commonwealth and State Government departments forgrant funding. If funds are not spent in accordance with grant conditions the departments cansuspend future grants or reclaim all or part of the grant(s). The entity is dependent on thecontinued receipt of grants.NOTE 16FINANCIAL RISK MANAGEMENTThe entity’s financial instruments consist mainly of deposits with banks, local money marketinstruments, short-term investments, accounts receivable and payable, loans and borrowings andmortgages.The totals for each category of financial instruments, measured in accordance with AASB 139 isas follows: -2010$2009$Financial assetsCash and cash equivalents 387,406 337,820Loans and Receivables 210,175 10,425Available for sale financial assets 820,523 712,999Total financial assets 1,418,104 1,061,244Financial liabilitiesFinancial liabilities at amortised cost- Trade and other payables 165,772 193,656- Grants unspent and in advance 222,202 103,690Total financial liabilities 387,974 297,346Page 20

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010Financial risk management policiesThe Committees’ overall risk management strategy is to assist the entity in meeting itsfinancial targets, whilst minimising potential adverse effects or financial performance. Riskmanagement policies are approved and reviewed by the Committee on a regular basis.These include credit risk policies and future cash flow requirements.The entity does not have any derivative instruments at the end of the reporting period.Specific Financial Risk Exposures and ManagementThe main risks the entity is exposed to through its financial instruments areinterest rate risk, liquidity risk and credit risk.(a) Credit riskCredit risk is the risk that parties that owe money do not pay it.The maximum exposure to credit risk, excluding the value of any collateral orother security, at balance date to recognised financial assets, is the carryingamount, net of any provisions for impairment of those assets, as disclosed in thestatement of financial position and notes to the financial statements.The entity does not have any significant concentration of credit risk exposure toany single, or group, of counter-parties under financial instruments entered intoby the entity. A profile of credit risk appears above under the Note on ‘Trade andOther Receivables’.(b) Liquidity riskLiquidity risk arises due to the possibility that the entity might encounter difficultyin settling its own debts or other liabilities. The entity manages this risk bymanaging credit risk on amounts owed to it, monitoring forecast cash flows andensuring that adequate unutilized borrowing facilities are maintained.Page 21

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010Financial liability and financial asset maturity analysisWithin 1 year 1 to 5 years Over 5 years Total2010$2009$2010$2009$2010$2009$2010$2009$Financialliabilities duefor paymentTrade and otherpayables(excludingemployeebenefitprovisions anddeferredincome)124,608 163,020 41,164 30,636 165,772 193,656Grants unspentand in advance 222,202 103,690 222,202 103,690Total expectedoutflows 346,810 266,710 41,164 30,636 387,974 297,346Financialassets – cashflowsrealisableCash and cashequivalents 387,406 337,820 387,406 337,820Financial assetsavailable for 779,359 682,363 41,164 30,636 820,523 712,999saleTrade and otherreceivables 210,175 10,425 210,175 10,425TotalanticipatedinflowsNet inflow(outflow) onfinancialinstruments1,376,940 1,030,608 41,164 30,636 1,418,104 1,061,2441,030,130 763,898 1,030,130 763,898Page 22

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010(c) Market RiskInterest rate riskExposure to interest rate risk arises whereby future changes in interest rates willaffect future cash flows or the fair value of financial assets and liabilities.Price RiskPrice risk relates to the risk that the fair value or future cash flows of a financialinstrument will fluctuate because of changes in their market price.Sensitivity analysisThe following table illustrates sensitivities to the entity’s expose in interest ratesand equity prices ( if equities held). The table indicates the impact on how profitand equity values reported at the end of the reporting period would have beenaffected by changes in the relevant risk variable that management considers tobe reasonably possible. These sensitivities assume that the movement in anyparticular variable is independent of other variables.Profit$Equity$Year ended 30 th June 2009+ or – 2% in interest rates +/- 5,000 +/- 5,000+ or - 10% in listed and unlisted investments +/- 82,000 +/- 82,000Year ended 30 th June 2010+ or – 2% in interest rates +/- 5,000 +/- 5,000+ or - 10% in listed and unlisted investments +/- 71,000 +/- 71,000(d) Foreign currency riskThe entity is not exposed to fluctuations in foreign currency.Net Fair ValuesThe net fair values of listed investments have been valued at the quoted market bid price atbalance date adjusted for transaction costs expected to be incurred. For other assets andother liabilities the net fair value approximates their carrying value. No financial assets andfinancial liabilities are readily traded on organized markets in standardized form other thanlisted investments.The differences between fair values and carrying values of financial instruments with fixedinterest rates are due to the change in discount rates being applied by the market to thoseinstruments since their initial recognition by the entity. Most of these instruments which arecarried at amortised cost ( e.g. trade receivables, loan liabilities) are to be held untilmaturity and therefore their current net fair values bear little relevance to the entity.As appropriate the net fair values and carrying amounts of financial assets and financialliabilities are disclosed in the Statement of Financial Position and in the notes to thefinancial statements.Page 23

MENZIES INCNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30TH JUNE 2010NOTE 17KEY MANAGEMENT PERSONNEL COMPENSATIONThe total of remuneration paid to key management personnel(KMP) of the entity during the year is as follows:2010$2009$Short-term employee benefits 355,641 339,380Post-employment benefits 29,402 28,352Other long-term benefits 0 0Termination benefits 0 0385,043 367,732NOTE 18RELATED PARTY TRANSACTIONSTransactions between related parties are on normal commercial terms and conditions nomore favorable than those available to the other parties unless otherwise stated.During or since the end of the previous financial year, a Committee Member/Executive ofthe Entity has not received or become entitled to receive a benefit (other than a benefitincluded in the aggregate amount of emoluments received or due and receivable by theCommittee Member/Executives shown in the accounts, or the fixed salary of a full-timeemployee of the Entity), by reason of a contract made by the Entity with the CommitteeMember/Executive or with a firm of which he/she is a member or with a entity in whichhe/she has a substantial financial interest.None of the Committee of Management received a salary from the association.NOTE 19ASSOCIATION DETAILSThe registered office of the association is:408 Nepean HighwayFrankston Vic 3199The principal place of business is at the registered office.Page 24

MENZIES INCSTATEMENT BY MEMBERS OF THE COMMITTEEIn the opinion of the Committee, the financial report as set out on pages 2 to 24:1 Presents fairly the financial position of Menzies Incorporated as at 30 th June2010 and its performance for the year ended on that date in accordance withAustralian Accounting Standards (including Australian Accounting Interpretations)of the Australian Standards Board.2 At the date of this statement there are reasonable grounds to believe thatMenzies Incorporated will be able to pay its debts as and when they fall due.This statement is made in accordance with a resolution of the Committee and is signed for and onbehalf of the Committee by: -Dated this 20th day of September 2010Page 25

MENZIES INCINDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OFMENZIES INCORPORATEDReport on the Financial ReportI have audited the accompanying Financial Report of Menzies Incorporated (the association)which comprises the Statement of Financial Position as at 30 th June 2010, and the Statement ofComprehensive Income, Statement of Changes in Equity, Statement of Cash Flows for the yearended on that date a summary of significant accounting policies, other explanatory notes and thestatement of the Committee.Committees’ Responsibility for the Financial ReportThe Committee of the association is responsible for the preparation and presentation of thefinancial report in accordance with Australian Accounting Standards (including AustralianAccounting Interpretations) and the Associations Incorporation Act 1981. This responsibilityincludes designing, implementing and maintaining internal control relevant to the preparation andfair presentation of the financial report that is free from material misstatement, whether due tofraud or error, selecting and applying appropriate accounting policies and making accountingestimates that are reasonable in the circumstances.Auditor’s responsibilityMy responsibility is to express an opinion on the financial report based on my audit. I conductedmy audit in accordance with Australian Auditing Standards. These Auditing Standards requirethat I comply with relevant ethical requirements relating to audit engagements and plan andperform the audit to obtain reasonable assurance whether the financial report is free frommaterial misstatement.An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial report. The procedures selected depend on the auditor’s judgement,including the assessment of the risks of material misstatement of the financial report, whether dueto fraud or error. In making those risk assessments, the auditor considers internal controlrelevant to the entity’s preparation and fair presentation of the financial report in order to designaudit procedures that are appropriate in the circumstances, but not for the purpose of expressingan opinion on the effectiveness of the entity’s internal control. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of accounting estimatemade by the Committee, as well as evaluating the overall presentation of the financial reportI believe that the audit evidence I have obtained is sufficient and appropriate to provide a basisfor my audit opinion.IndependenceIn conducting my audit I have complied with the independence requirements of Australianprofessional ethical pronouncementsPage 26

MENZIES INCAuditor’s OpinionIn my opinion:The financial report of Menzies Incorporated is in accordance with the Associations IncorporationAct 1981 includingi. giving a true and fair view of the association’s financial position as at 30 June 2010 andits performance and its cash flows for the year ended on that date: andii. complying with Australian Accounting Standards (including Australian AccountingInterpretations) and the Associations Incorporation Act 1981Name of firmE Townsend & CoName of AuditorAddressEric Townsend35 Mereweather AveFRANKSTON Vic 3199Dated this day of September 2010Page 27

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Menzies’ Homes AssociationThe Menzies’ Homes Association (MHA) celebratedwith gusto their three annual events again this last year.Their enthusiasm for bringing support and communicationwith other “Old Boys” and current young people in ourcare is constant. With the small but dedicated committee,lead by Rick Hodges as President, Ray Fordham asSecretary, Shirley Davies as volunteer liaison and Menzies’Finance and Office Manager, Jacinta Dunn, as theHonorary Treasurer, the Association continued to thrive.The annual Menzies Birthday Party in August 2009brought together Association members and their partners,past and present staff and their families and of course,Graham Menzies, representing his grandfather, JamesMenzies on what was his 148th birthday!The Annual Reunion and AGM in March 2010 kepttrue to tradition-- a big day out at Don and TrinetteCallendar’s home where our young people in residentialcare mixed and chatted with the Old Boys and familymembers. With Denis Bugat at the microphone, everyonewas entertained in style.The MHA also organised for our young people toattend the Blue Scope Steel Family Christmas Party inNovember 2009. Even in the pouring rain, all of thechildren and staff enjoyed the rides and the fun of beingpart of such a big celebration. Menzies today appreciatesand honours our Menzies’ Homes Association and hopesthat new members join the Association.13

Committee of ManagementPresidentDenis J HildebrandPharmacist Ph.C. Domain Road Pharmacy. Joined theCommittee of Management in 1985. President since1999.Vice PresidentPhil JonesOwner/Manager of Frankston International Motel.Member of Frankston Business Chamber. ExecutiveMember, Frankston Tourism Association. Joined theCommittee of Management in 2002.MembersRussell CampbellOwner, Brumby’s Bakery, Frankston. Member FrankstonBusiness Chamber. Member Frankston Rotary. Joinedthe Committee of Management in 2000.Alan SplattPartner, Taylor Splatt & Partners Lawyers. Past PresidentMornington Peninsula Solicitors Association. ConvenorDandenong Family Court Family Law Chapter since1991. Member since 1996 and current chair of FamilyLaw Advisory Committee of the Law Institute ofVictoria. Joined the Committee of Management 2007.Steve PallasCEO Keycover. Master of Business Administration.Bachelor of Business (Banking & Finance). Diplomaof Superannuation Management. Certificate ofSuperannuation Trusteeship. Joined the Committee ofManagement in 2008.TreasurerStuart ShawGeneral Manager, Village Baxter since 1987. Memberof the Australian Society of Certified PracticingAccounts, Member of the Australian Institute ofCompany Directors and Justice of the Peace. Joined theCommittee of Management in 2008.Roy WattsDirector of DKR Australia Pty Ltd. Life member ofMornington Peninsula Cricket Association. Life memberLong Island Cricket Club. Joined the Committee ofManagement in 2009.Greg LaceyPrincipal, Tyabb Primary School since 2000. Onboard of Victorian Principals Association & EducationalAdvisory panels & stakeholders groups. Bachelor ofEducation, Graduate Diploma Computer Education.Joined Committee of Management in 2008.Wayne LoviePrincipal, Aldercourt Primary School since 2007. Joinedthe Committee of Management in 2009.15

SupportersFrankstonInternationalCorporatesBurd ExcavationsCarr Barnett Pty LtdCity LifeCompetitive CarpetsDuluxEighty First Vilmar LtdExxon MobilFrankston AnaestheticK MartMornington Racing ClubNational Australia BankPeninsula Hot SpringsRainer Feldgen Good Guys FrankstonRitchies IGA SupermarketTaylor Splatt & PartnersVictorian State Home LoansYellow PagesGovernmentDepartment of Education and Early Childhood DevelopmentDepartment of Community DevelopmentDepartment of Education, Employment & Workplace RelationsDepartment of Family and Community ServicesDepartment of Health and AgeingDepartment of Human ServicesDHS Disability Client ServicesDepartment of JusticeDepartment of Victorian CommunitiesDepartment of Youth Services and Youth JusticeMelbourne WaterCommunityAll Souls Community ShopBerry Street Take TwoBlairlogie Living & Learning IncCentre for Excellence in Child and Family Welfare16Child Safety CommissionerDevilbend Golf ClubDisability Opportunities VictoriaEngineers Without BordersFrankston Business ChamberFrankston Tourism AssociationGood ShepherdLions Club of Mt ElizaLet’s Go Cruisin’Lisa’s LaciesMarks Ladies GroupMenzies’ Homes AssociationPathways AustraliaPREMMLE playersResidential Care Learning & Development StrategyRSL – FrankstonRSPCA BurwoodRSPCA VictoriaSt Paul’s Anglican ChurchTrusts & FoundationsAnonymousANZ Charitable TrustANZ Staff FoundationPierce Armstrong FoundationThe Fred P. Archer Charitable TrustBesen Family FoundationClarence Edward and Edith Florence Sach TrustEquity Trustees - Ivy & Arthur Thomas TrustThe Honda FoundationFlora & Frank Leith TrustLord Mayor’s Charitable FoundationSisters of CharitySt. George FoundationTobin BrothersTrust Company of Australia G. WarmanWilliam Angliss Foundation

SchoolsChisholm TAFEJohn Paul CollegeMcClelland CollegeMornington Secondary CollegeMt Eliza Secondary CollegeNaranga Special SchoolToorak College – Mt ElizaThe Peninsula SchoolIndividualsJanet AtkinsonLynette AustinNorma BarnardA A BarndenIan BerryDavid BramleyDon CallenderRussell CampbellGeorge & Lilian CatonMargaret ClarkeCarol CloughElma CorfieldWendy & Murray CoxLeanne CutlerDavid DunnMichael DuyvestynRenee DuyvestynMr & Mrs J. ElsnerBetty FentonTed FieldingS. FongAmber FrancisDr & Mrs P. G. GrayMr & Mrs B. GreenmanEdward HauserNorma HenryDenis HildebrandJohn HinesThelma HortonGregory HuntRhonda IdczakKim JacksonPhil JonesAlex JosephBarry KareyRobert KeaysMiss A. McGillivrayGraham MenziesGwen MillerAnn MillerAlfred MorrisDame Elisabeth Murdoch AC DBEBeatrice NicollShona OsborneMr & Mrs Paul OfferSteve PallasSiggi PiperWilma RadnellBarbara RayGwenda ReadyBrian ReidHolly ReidMarilyn RichDulcie RichardsJoyce RobertsonMr V.G. RobsonMr S.N. RobsonBernard RobinsonLiz RoylanceWilliam RussellDr Peter ScottStuart ShawAnne SmithMr & Mrs Reg SmithIan F.X. StoneyCheryl ThreadgoldRoy WattsNeil WerbeloffTrevor WilsonVALEDennis PressDirector and SecretaryThe Menzies Homes for Children (1965 - 1985)

The OrganisationStaffFranchesca AllanTeagan AllanNathan AshbyCampbell AtkinsonChris AugustusMaree BairdRenee BakerRachel BeaumontKathy BielenyGeorge BrittonEllen BrownJannine BurdAllysha CameronLiz CampbellScott CampbellSandra CampbellAudrey CatherineAndrew CatlowBhu ChahalAngela ChorleyJohn CookNicole CowanBeth CowleyJackie DavieAmy DawsonSarai DeeKylie DelaneyChantelle DickinsonChristine DimkosBen DoukasLeanne DoyleChristina DuesterhausFiona DukadinoskiJane DukeJacinta DunnCarol FeildApril GossAndrew GreensillKim GriffinJoshua HarveySue HayHardev HeerMark HendersonDaniel HoskingDaniel IdczakStephen IdczakSusan JardineJulie JosePrashan KaluwitharanaAshley KeaneJason KirkpatrickChantelle KnevittDavid KnightRobin LeeGlenda LempereurEmma Ma18Jaclyn MagorJenny McAlisterTom McCannSharmila McDonaldErin McKayMary Beth MeltonJoshua MillerBrock MoranBethany MoroneyBrieley MovricAngela MurphyJack MurphyRavi NarayanTracey O’MearaCorey PanozzoIoulia PapadimitriouSamantha ParkerJamii ParkesSarah PennNicki PittardKelly PowellLorraine RataCorey RayerouxSusie ReichwaldHolly ReidSkye ReillyRebecca RobinsonTim RollestonJames SarantosThimitra SchneiderNatalie ScottEbony SeeleySusan ShoremanWillie SimmonsKate StubbsLisa StylesMark SuttieBlake TerlaakPeta ThomasCassie ThrowerAaron TraversIngrid Van LoonHarshanieWelathanthrigeHugh WheelerAdam WhitlowJenny WicksMegan WicksNathan WicksJason WilliamsTyson WilsonVolunteersStan AlvesNathan AshbyNoel BakerRoger Hately-BarterRob BreedinRussel CampbellPaula ChambersElizabeth CollinsShirley DaviesLaurie DavisAllison DonnisonErik DonnisonBrad FenbyJacob FieldTerry FinnJanine FoedenRay FordhamMichelle GerringDenis GrahamBrett GreenerNeville GuestBronwyn HadleyKerry HamiltonTed HarrisDenis HildebrandRick HodgesMario HorvalPatrick IdczakPhillip IdczakRhonda IdczakJan JamesPhil JonesDaniel JustinGreg LaceyKathryn LawlorWayne LovieLisa MainlandGerard McDonaldSam (Menzies)Toni (Menzies)Joan NicholsSteve PallasRay ParrBarbara PhylandPete PiantaDavid PrestKerry QuigleyAlec RobertsDet SchadeStuart ShawBarry SmithAllan SplattBev SwiftKristine Van RuitenElspeth VinesJesse WatersRoy WattsKirsty WheelerEsther YannVolunteerGroupsBlairelogie GroupChisholm TAFEConservationVolunteers-AustraliaDisability OpportunitiesVictoriaEast WorksEngineers withoutBordersGood ShepardNABNaranga Special SchoolThe Peninsula SchoolPfizerTyabb Primary SchoolVodafoneLife GovernorsArthur, Mr N.Broome, Mr VBurge, Mrs H.Byrne, Mr A.W.Carter, Mrs J.Cherry, Mr E.R.Collins, Mr A.A.Davies, Mrs S A.Forster, Mrs N.Galbraith, Mrs M.Hauser, Mrs. P.E.Hildebrand, Mr D.Luby, Mr A.Luby, Mrs J.Menzies, Mr G.A.Murdoch, DameElisabethMurphy, Mrs E.J.Murphy, Mr K.McCready, Mr J.R.McLeod, Mr Rex C.Press, Mr D.A.Read, Dr D.F.Ready, Mrs G.Runciman, Dr K.F.Threlfall, Mrs P.F.Walker, Mrs M.Walter, Mr R.C.

Organisational StructureCommitteeofManagementSub Committees- Governance & Succession- Finance & Audit- Fundraising & Promotions- Risk Management- Sages PlanningChief ExecutiveOfficerExecutive TeamComprises CEO & allManagersOH&S TeamManagerFinance & OfficeManagerTherapeutic,Educational &Community ServicesManagerResidential Services19

Donating to Menzies Inc.As you will have seen in this Annual Report, many people support the work of Menzies Inc. There will always be the need forgenerous financial support, such as yours, as we continue to expand our services for the benefit of some of the most disadvantagedchildren in our community.Many methods exist to show support:• Make a tax deductible donation• Volunteer your time to assist in specific projects• Sponsor an event or program• Become a Member of Menzies Inc.• Make a bequest in your will**To make a bequest, the following wording may be added to your will:“I devise and bequeath unto Menzies Inc. the sum of $________ (or percentage or residue of my estate asappropriate) to be used for its work amongst children and families in necessitous circumstances.”The young people, staff and Committee of Management express their gratitude to eachperson who has assisted us during this financial year.Thank you very much.To make a donation or discuss other means of giving,please phone Menzies Inc on (03) 9784-9700or visit the website atwww.menzies.org.au21

Ph: 03 9784 9700 Fax: 03 9770 2146408 Nepean HwyFrankston Victoria 3199ABN: 80 123 456 789www.menzies.org.auCredits:Designed by 3rd Floor Designwww.3rdfloordesign.com.auPhotography by Gavin Hansford

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