A surplus for the year was achieved during a difficult and
uncertain economic climate. A strong commitment across the
organisation to our financial accountability helped deliver this
outstanding result as it represented a $1.9m turnaround on a
budgeted deficit of $1.4m.
Revenue growth matched the uncertain economy and remained flat.
However by monitoring this we were able to pull back on budgeted
expenses in a number of areas such as staff costs. Looking long
term and seeking new revenue streams, we launched a donor strategy
which will take a few years to achieve positive returns but will
eventually ensure a stable revenue stream into the future.