Financial Report 2015/2016
Living the second
“
2 Annual Report 2015/2016
half of life”
FINANCIALS
OVERVIEW Amana Living has a long heritage of providing compassionate care and support to older West Australians. The organisation also has a strong culture of responsible business operations, which in 2015/16 resulted in a surplus of $6.7 million. Income increased 7% over the last financial year, due to an increase in acuity of our residential care clients and growth in our home care business. Expenses also increased 7% due to increasing staff costs, needed to respond to the higher care needs of our nursing home residents, and impacts of Consumer Directed Care reforms in our Home Care business stream.
Total assets increased 7% due to an increase in cash holdings due to receipt of refundable accommodation deposits from residential care clients. This has been partially offset by an increase in unspent funds owing to Home Care clients, due to changes in the legislation during the year. Amana Living is in a strong financial position that will allow it to continue its strategic direction, prepare for the partial deregulation of Home Care in February 2017, and mitigate the pending further reductions in federal funding for residential aged care.
1 Annual Report 2015/2016
FINANCIALS
WHAT WE EARN AND SPEND 9%
What we earned
5%
Government Subsidies Rent, Fees and charges Income of a capital nature Other income 19%
67%
11%
What we spent
8%
Employee Benefits Catering and food supplies Maintenance and repairs
6%
Expenses related to assets Other expenses 5%
70%
2 Annual Report 2015/2016
WHAT WE OWN AND OWE 2%
12%
What we own
5%
Cash and deposits Debtors 9%
Financial Assets Property, Plant and Equipment Investment Property
72%
6%
What we owe
26%
Trade and other payables
6%
Provisions Resident Accommodation Bonds/RADs Resident Entry Contributions Other liabilities 8%
54%
3 Annual Report 2015/2016
FINANCIALS
FINANCIAL REPORTS
4 Annual Report 2015/2016
SUMMARY OF CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 30 JUNE 2015 $’000s Income
Consolidated
2016 ALI
ALAF
Consolidated
2015 ALI
ALAF
Revenue Investment revenue Other gain and losses
106,606
106,568
38
99,244
99,147
97
1,586
1,549
37
1,639
1,600
39
296
296
-
716
716
-
Revenue from Ordinary Activities
108,488
108,413
75
101,599
101,463
136
71,330
71,330
-
67,103
67,103
-
Catering and food supplies
5,456
5,456
-
5,319
5,319
-
Maintenance and repairs Depreciation
5,604
5,604
-
4,982
4,982
-
8,053
8,053
-
7,432
7,432
-
11,149
10,901
248
10,244
10,021
223
101,592
101,344
248
95,080
94,857
223
6,896
7,069
(173)
6,519
6,606
(87)
6,896
7,069
(173)
6,519
6,606
(87)
(236)
-
(133)
(133)
-
(6)
-
(1)
(1)
-
6,827
(173)
6,385
6,472
(87)
Expenditure Employee benefits
Other expenses from ordinary activities Expenses from Ordinary Activities Profit/(loss) from Ordinary Activities Total profit/(loss) for the year
Other comprehensive income Net value gain on available-for-sale financial assets (236) (6) Transfer from specific purpose donation 6,654 Total comprehensive income for the year
SUMMARY OF CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2015 $’000s Current Assets Non-Current Assets Total Assets Current Liabilities Non-Current Liabilities Total Liabilities Net Assets Total Accumulated Funds
Consolidated 47,220
2016 ALI
ALAF
46,218 1,004
Consolidated
2015 ALI
ALAF
31,272
30,097
1,299
161,127
161,127
-
155,607
155,607
-
208,347
207,345 1,004
186,879
185,704
1,299
110,714
110,774
2
95,379
95,439
124
78
78
-
93
93
-
110,792
110,852
2
95,472
95,532
124
97,555
96,493 1,002
91,407
90,172
1,175
97,555
96,493 1,002
91,407
90,172
1,175
5 Annual Report 2015/2016
Amana Living Corporate Office 541 Hay Street, Subiaco WA 6008 PO Box 933, Subiaco WA 6904 Tel. 1300 26 26 26 Fax. (08) 9388 3142 www.amanaliving.com.au