2005-2006 Financial Report by Dianne Ballestrin

Annual Financial Report For year ended 30 June 2006

St Vincent de Paul Society Victoria Inc.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2006

Note

ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

Revenue Fundraising Government Grants Sale of Goods Other Revenue Changes in Value of Investment Total revenue

3 3 3 3 3

(a) (b) (c) (d) (e)

6,417,317 19,057,839 16,236,499 6,658,501 5,765 48,375,921

5,078,852 19,389,130 14,832,134 5,987,824 1,153 45,289,093

5,800,821 1,644,873 15,212,555 869,398 5,765 23,533,412

4,742,016 4,120,873 13,751,012 503,802 1,153 23,118,856

Other Income Net Gain on Sale of Property, Plant and Equipment

3 (f)

869,275

698,582

921,994

407,337

4 (a) 4 (b) 4 (c)

(10,622,506) (656,462) (3,049,941) (14,328,909)

(9,958,007) (629,066) (2,473,407) (13,060,480)

(9,045,579) (656,462) (3,049,941) (12,751,982)

(8,391,472) (629,066) (2,473,407) (11,493,945)

34,916,287

32,927,195

11,703,424

12,032,248

(7,203,456) (12,953,499) (7,798,384) (2,243,462) (30,198,801)

(8,047,229) (12,661,019) (7,707,519) (1,668,978) (30,084,745)

(7,239,939) (2,243,462) (9,483,401)

(8,069,199) (1,668,978) (9,738,177)

(44,527,710)

(43,145,225)

(22,235,383)

(21,232,122)

4,717,486

2,842,450

2,220,023

2,294,071

Operating Expenses Cost of Sales Fundraising/Public Relations Administration Total funds available for client activities Client Services Expenses People in Need Services Aged Care Services Homelessness & Housing Services Support Services Total Expenses Surplus/(Deficit) for the period

4 4 4 4

(d) (e) (f) (g)

The accompanying notes form part of these Financial Statements

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y BALANCE SHEET AS AT 30 JUNE 2006

Note CURRENT ASSETS Cash and cash equivalents Trade and other receivables Inventories Financial assets Other assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant & equipment Financial assets Intangibles TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other payables Provisions Other liabilities TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Provisions TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Reserves Retained earnings Total parent entity interest TOTAL EQUITY

ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

6 7 8 9 10

20,161,336 2,056,680 183,060 13,026,978 414,192 35,842,246

22,235,338 438,246 153,737 8,159,917 489,561 31,476,799

9,440,889 1,607,916 154,926 2,026,978 270,259 13,500,968

9,322,797 132,418 125,792 1,021,213 298,424 10,900,644

11 9 12

53,042,409 14,122,030 67,164,439 103,006,686

51,020,060 13,585,744 64,605,804 96,082,603

21,567,132 50,859,829 39,382 72,466,343 85,967,312

21,640,758 50,859,829 5,192 72,505,779 83,406,423

13 14 15

1,965,704 3,488,671 11,076,031 16,530,406

1,333,277 3,007,525 9,810,617 14,151,419

1,032,099 784,749 548,940 2,365,788

247,107 591,717 1,130,749 1,969,573

490,972 490,972 17,021,378 85,985,308

663,363 663,363 14,814,782 81,267,821

216,350 216,350 2,582,138 83,385,174

271,699 271,699 2,241,272 81,165,151

31,188,770 54,796,537 85,985,307 85,985,307

32,403,596 48,864,225 81,267,821 81,267,821

13,235,238 70,149,936 83,385,174 83,385,174

14,110,064 67,055,087 81,165,151 81,165,151

The accompanying notes for part of these Financial Statements

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2006 ECONOMIC ENTITY Retained Earnings $ Balance at 1 July 2004 Surplus from ordinary activities Transfer from Capital Profits reserve Transfer from Asset Revaluation reserve Balance at 30 June 2005 Surplus from ordinary activities Transfer from Asset Revaluation reserve At 30 June 2006

Asset Revaluation Reserve $

Surplus from ordinary activities Transfer from Asset Revaluation reserve At 30 June 2006

Total $

32,873,560 -

1,557,036 -

130,000 -

78,425,371 2,842,450

1,359,000

(1,359,000)

1,138,000 49,204,225 4,717,486 874,826 54,796,537

Retained Earnings $

Transfer from Capital Profits reserve Transfer from Asset Revaluation reserve Balance at 30 June 2005

Fund-a-Future Reserve $

43,864,775 2,842,450

(1,138,000) 31,735,560

198,036

(874,826) 30,860,734

PARENT ENTITY

Balance at 1 July 2004 Surplus from ordinary activities

Reserves Capital Profits Reserve $

Asset Revaluation Reserve $

198,036

Reserves Capital Profits Reserve $

130,000 130,000

Fund-a-Future Reserve $

81,267,821 4,717,486 85,985,307

Total $

62,604,016 2,294,071

14,908,064 -

1,359,000 -

78,871,080 2,294,071

1,359,000

(1,359,000)

81,165,151

2,220,023

83,385,174

798,000 67,055,087 2,220,023 874,826 70,149,936

(798,000) 14,110,064 (874,826) 13,235,238

The accompanying notes form part of these Financial Statements

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 JUNE 2006

Note Cash flows From Operating Activities: Receipts from operating activities Receipts from supporters Payments to clients, suppliers and employees

ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

37,623,225 14,829,803 (51,541,836) 1,777,512 2,688,704

29,889,117 13,720,488 (40,310,034) 1,410,416 (63,933) 4,646,054

15,296,423 14,829,803 (29,750,683) 589,333 964,876

8,862,889 13,720,488 (19,928,371) 349,851 (63,933) 2,940,924

Cash flows From Investing Activities: Proceeds - sale of property, plant and equipment Proceeds from investments Payment for property, plant and equipment Payments for intangible assets Payments for investments Net cash provided by/(used in) investing activities

2,214,728 138,704 (5,055,797) (90,210) (5,000,000) (7,792,575)

2,596,495 (4,226,801) (32,104) (13,057) (1,675,467)

1,978,493 (1,772,028) (53,249) (1,000,000) (846,784)

1,638,596 (1,388,385) (2,603) 247,608

Cash flows From Financing Activities: Repayment of finance leases Proceeds from residents' accommodation bonds Repayment of residents' accommodation bonds Net cash provided by/(used in) financing activities

5,665,373 (2,635,504) 3,029,869

(77,148) 3,706,505 (2,924,104) 705,253

(77,148) (77,148)

(2,074,002)

3,675,840

118,092

3,111,384

22,235,338

18,559,498

9,322,797

6,211,413

20,161,336

22,235,338

9,440,889

9,322,797

Other Net cash provided by operating activities

19 (b)

Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the financial year Cash and cash equivalents at the end of the financial year

19 (a)

The accompanying notes form part of these Financial Statements

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. The St Vincent de Paul Society Victoria Inc. is a non government welfare agency incorporated under the Associations Incorporations Act (Vic) 1981 and is domiciled in Australia. The Society operates a separate company limited by guarantee to run its aged care and community services. The financial statements were authorised for issue by State Council on 23rd September 2006. (a) Basis of preparation The financial report is a general purpose financial report prepared in accordance with Accounting Standards, Urgent Issues Group interpretations and the Associations Incorporations Act (Vic) 1981. The financial report covers the economic entity being St Vincent de Paul Society Victoria Inc. and St Vincent de Paul Aged Care and Community Services. The parent entity is St Vincent de Paul Society Victoria Inc. The financial report has been prepared on an accruals basis and is based on historic costs modified by the revaluations of selected non-current assets and financial assets and liabilities, for whcih the fair value basis of accounting has been applied. Cost is based on the fair value of the consideration given in exchange for assets. The financial report is presented in Australian dollars. The following specific accounting policies have been consistently applied, unless otherwise stated. (b) Judgements and estimates In the application of AIFRS, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstance, the results of which form the basis of making the judgements. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. Judgements made by management in the application of AIFRS that have significant effects on the financial statements and estimates with a significant risk of material adjustments in the next year are disclosed, where applicable, in the relevant notes to the financial statements. Accounting policies are selected and applied in a manner which ensures that the resulting financial information satisfies the concepts of relevance and reliability, thereby ensuring that the substance of the underlying transactions or other events is reported. The consolidated entity changed its accounting policies on 1 January 2005 to comply with AIFRS. The transition to AIFRS is accounted for in accordance with Accounting Standard AASB 1: First-time Adoption of Australian Equivalents to International Financial Reporting Standards, with 1 July 2004 as the date of transition. An explanation of how the transition from superseded policies to AIFRS has affected the parent entity's and consolidated entity's financial position, financial performance and cash flows is discussed in Note 2. (c) Principles of consolidation The combined financial report of St Vincent de Paul Society Victoria Inc. comprises the consolidated financial reports of St Vincent de Paul Society Victoria Inc. and St Vincent de Paul Aged Care and Community Services. A controlled entity is any entity controlled by St Vincent de Paul Society Inc. Control exists where St Vincent de Paul Society Inc. has the capacity to dominate the decision-making in relation to the financial and operating policies of another entity so that the other entity operates with St Vincent de Paul Society Victoria Inc. to achieve the objectives of St Vincent de Paul Society Inc. A list of controlled entities is contained in Note 9. All inter-entity balances and transactions between entities in the economic entity have been eliminated on consolidation.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued (d) First-time Adoption of Australian Equivalents to International Financial Reporting Standards St Vincent de Paul Society Victoria Inc. has prepared financial statements in accordance with the Australian equivalents to International Financial Reporting Standards (AIFRS) from 1 July 2005. In accordance with the requirements of AASB 1: First-time Adoption of Australian Equivalents to International Financial Reporting Standards, adjustments to the parent entity and consolidated entity accounts resulting from the introduction of IFRS have been applied retrospectively to 2005 comparative figures excluding cases where optional exemptions available under AASB 1 have been applied. These consolidated financial statements are the first financial statements of St Vincent de Paul Victoria Inc. to be prepared in accordance with AIFRS. The accounting policies set out below have been consistently applied to all years presented. The parent and consolidated entities has however elected to adopt the exemptions available under AASB 1 relating to AASB 132: Financial Instruments: Disclosure and Presentation, and AASB 139: Financial Instruments: Recognition and Measurement. Refer to Note 23 for further details. Reconciliations of the transition from previous Australian GAAP to AIFRS have been included in Note 2 to this report.

(e) Revenue The St Vincent de Paul Society Victoria Inc. is a non-profit organisation and receives a principal part of its income from donations, as cash or in kind. Amounts donated can be recognised only as revenue when the entity gains control, economic benefits are probable and the amount of the contribution can be measured reliably. State Council has the responsibility for ensuring that all voluntary and other revenues to which the Society gains control are accounted for properly. This involves establishing controls to ensure that voluntary revenue is recorded in the financial records, however at times it is impractical to maintain controls over the collection of such revenue prior to its initial entry into the financial records or to ensure that any economic benefit can be measured reliably. Therefore, voluntary revenue is recognised in these accounts when control, benefit and reliable measurement can be achieved.

Revenue from the sale of goods is recognised upon delivery of the goods to customers. Income from the government is principally of a recurrent or capital nature and is intended to fund ongoing operations or asset acquisitions. Government grants which relate to future service provision obligations are carried forward and disclosed as grants in advance and deferred revenue. Resident contributions are recognised when the service is provided. Revenue from donations and bequests is recognised when received into the Gift Account. Interest revenue, from the bank and from residents with outstanding bonds, is recognised on a time proportionate basis that takes into account the effective yield on the financial asset. The net profit from the sale of an asset is included as revenue when control of the asset passes to the buyer. The profit or loss on disposal is calculated as the differnece between the carrying amount of the asset at the time of disposal and net proceeds. (f) Income Tax The Society is not subject to income tax. (g) Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. For the purposes of the Cash Flow Statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts. 7

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued (h) Financial Instruments Financial Assets All financial assets are initially recognised at cost, being the fair value of the consideration given and including acquisition charges associated with the investment. Where an asset is acquired at no cost, or for a nominal cost, the cost is its fair value as at the date of acquisition. Held to maturity investments These are investments that have fixed maturities and it is the AssociationÂ&#x2019;s intention to hold these investments to maturity. Any investments held to maturity by the Association are stated at amortised cost using the effective interest method. Financial assets at fair value through profit and loss A financial asset is classified in this category if it is held for trading; that is principally with the objective of selling in the short-term with a profit making intention. In addition, any other financial assets so designated by management on initial recognition are included in this category. Realised and unrealised gains and losses arising from changes in the fair value of these assets are included in the income statement in the period in which they arise.

Loans and receivables Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are stated at amortised cost using the effective interest rate method. Available for sale financial assets Available-for-sale financial assets include all financial assets not included in the above categories. Available for sale financial assets are reflected at fair value. Unrealised gains and losses arising from the changes in fair value are taken directly to equity. Financial Liabilities Financial liabilities, including loans and borrowings, are recognised at amortised cost, comprising original debt less principal payments and amortisation. Fair value Fair value is determined based on current bid prices for all quoted investments. Valuation techniques are applied to determine the fair value for all unlisted securities, including recent arms length transactions, reference to similar instruments and pricing models. Impairment At each reporting date, the directors assess whether there is objective evidence that a financial instrument has been impaired. In the case of Â&#x2018;available-for-saleÂ&#x2019; financial assets, a prolonged decline in the value of the instrument is considered to determine whether an impairment has arisen. Impairment losses are recognised in the income statement. (i) Accommodation Bonds Accommodation bonds are repayable upon demand. (j) Assets Held in Trust The company, Society of St Vincent De Paul (Victoria), holds various properties and bed licences in trust for St Vincent de Paul Society Victoria Inc. (k) Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of the expense. Receivables and payables in the Balance Sheet are shown inclusive of GST. Cashflows are included in the cash flow statement on a gross basis. The GST component of cash flows arising from inveting and financing activities which is recoverable from, or payable to, the taxation authority is classified as operating cash flows. 8

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued (l) Fixed Assets Land is measured on the cost basis. All other property plant and equipment is measured at cost, less accumulated depreciation and impairment. Cost includes expenditure that is directly attributable to the acquisition of an item. In the event that settelement of all or part of the purchase consideration is deferred, cost is determined by discounting the amounts payable in the future to their present value as at the date of acquisition. Depreciation Depreciation is calculated on a straight line basis so as to write off the net cost or other revalued amount of each asset over its expected useful life to the company to its residual value, except leasehold improvements, which are over the shorter of the estimated useful life of the asset or the term of the lease, as follows: Class of Fixed Asset Buildings Leasehold improvements Furniture, Plant & Equipment Computer Hardware Motor Vehicles - Cars Motor Vehicles - Trucks

Depreciation rate and method 1% to 2.5% straight line Over the term of the lease 7% to 20% straight line 33% straight line 15% to 20% straight line Variable straight line according to estimated residual and useful life of the vehicle

(m) Impairment The carrying values of tangible and intangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. If any such indication exists and where the carrying values exceed the estimated recoverable amount, the assets or cash-generating units are written down to their recoverable amount. At each reporting date, the directors review a number of factors affecting tangible and intangible assets (which includes property, plant and equipment) including their carrying values, to determine if these assets may be impaired. If an impairment indicator exists, the recoverable amount of the asset, being the higher of the asset s fair value less costs to sell and value in use is compared to the carrying value. Any excess of the asset s carrying value over its recoverable amounts is expensed in the Income Statement as an impairment expense. As the future economic benefits of the Association s assets are not primarily dependant on their ability to generate net cash inflows, and if deprived of the asset, the Association would replace the asset s remaining future economic benefits, value in use is determined as the depreciated replacement cost of the asset, rather than by using discounted future cash flows. Depreciated replacement cost is defined as the current replacement cost of an asset less, where applicable, accumulated depreciation calculated on the basis of such cost to reflect the already consumed or expired future economic benefits of the asset. The current replacement cost of an asset is its cost measured by reference to the lowest cost at which the future economic benefits of that asset could currently be obtained in the normal course of business. Impairment losses are recognised in the Income Statement.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued (n) Intangibles Intangible assets are only recognised if they meet the identifiability criterion, that is it is separable from the Association and arises from contractual or other legal rights. All intangibles are initially recognised at their cost, or when acquired for no consideration, at their fair value at the date of acquisition. Computer Software Computer software that is not integral to the operation of a related piece of hardware or plant is classified as an intangible (for example, accounting systems software), and is initially recognised at cost. Subsequent to initial recognition, computer software is carried at its cost less accumulated amortisation and impairment losses. Computer software has a finite life, and is amortised on a systematic basis over its estimated useful life, being on a straight line basis over 3 years. Aged Care Bed Licences Bed licences that are purchased are initially recorded at cost. Bed licences that are received for no consideration are recognised at their fair value at the date of acquisition, having regard to recent sale activity within the industry, which the Association then uses to record the licences at deemed cost. Bed licences have an indefinite life, as long as the Association continues to comply with the terms and conditions imposed by Government. Bed licences are therefore tested annually for impairment. Subsequent to initial recognition, bed licences continue to be carried at their original deemed cost (being their fair value on acquisition), less any impairment losses. (o) Inventories Inventories held for sale are valued at the lower of cost and net realisable value. Where inventories are held for distribution or are to be consumed by the Association in providing services or aid at no or nominal charge, they are valued at the lower of cost and replacement cost. (p) Trade and other receivables Trade debtors are recognised when the risks and rewards of ownership of the underlying sales transactions have passed to customers. This event usually occurs on delivery of goods or services to customers. Trade debtors are recorded at nominal amounts. Credit terms are 30 days. Collectability of overdue accounts is assessed on an ongoing basis. (q) Trade and other creditors Trade and other creditos represent unpaid liabilities for goods received by and services provided to the Association prior to the end of the financial year. The amounts are unsecured and are normally settled within 30 days. (r) Leases Leases where the lessor retains substantially all the risks and benefits of ownership of the asset are classified as operating leases. Initial direct costs incurred in negotiating an operating lease are added to the carrying amount of the leased asset and recognised over the lease terms on the same basis as the lease income. Operating lease payments are recognised as an expense in the Income Statement on a straight-line basis over the lease term. Finance leases which transfer to the Company substantially all the risks and benefits included in ownership of the leased item, are capitalised at the inception of the lease at the fair value of the leased property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned between the finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are charged directly against income. Capitalised leased assets are depreciated over the shorter of the estimated useful life of the asset or the lease term.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Continued (s) Employee benefits Wages, salaries, annual leave and sick leave Liabilities for wages, salaries and annual leave expected to be settled within 12 months of the reporting date represent present obligations resulting from employees' services provided up to the reporting date, calculated at undiscounted amounts based on remuneration wage and salary rates that the Society expects to pay as at reporting date including on-costs. Long service leave The provision for long service leave represents the present value of the estimated future cash outflows to be made resulting from employees' services provided up to the reporting date. The provision is calculated using expected future increases in wage and salary rates including related on-costs and expected settlement dates based on turnover history and is discounted using the rates attaching to national government bonds at reporting date which most closely match the terms of maturity of the related liabilities. Superannuation The Association contributes to complying funds at the required rate of the employees' wages and salaries. Superannuation contributions are recognised as an expense when incurred. (t) Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

2 FIRST-TIME ADOPTION OF AUSTRALIAN FINANCIAL REPORTING STANDARDS

Economic Entity Reconciliation of Equity at 1 July 2004 ASSETS CURRENT ASSETS Cash and cash equivalents Trade and other receivables Inventories Financial assets Other assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment Intangibles TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other creditors Interest bearing liabilities Provisions Other liabilities TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Provisions TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Reserves Retained earnings TOTAL EQUITY

Note

2 (c)

2 (a) 2 (b)

2 (f)

EQUIVALENTS

Previous GAAP at 1 July 2004 $

INTERNATIONAL

Effect of transition to AIFRS $

AIFRS at 1 July 2004 $

18,559,498 324,040 185,591 8,125,647 415,299 27,610,075

20,060 20,060

18,559,498 324,040 185,591 8,145,707 415,299 27,630,135

51,650,635 51,650,635 79,260,710

(355,735) 13,475,735 13,120,000 13,140,060

51,294,900 13,475,735 64,770,635 92,400,770

880,194 77,148 3,101,557 9,390,780 13,449,679

525,720 525,720 13,975,399 65,285,311

13,140,060

525,720 525,720 13,975,399 78,425,371

34,560,596 30,724,715 65,285,311

13,140,060 13,140,060

34,560,596 43,864,775 78,425,371

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

2 FIRST-TIME ADOPTION OF AUSTRALIAN EQUIVALENTS FINANCIAL REPORTING STANDARDS Continued

Parent Entity Reconciliation of Equity at 1 July 2004 ASSETS CURRENT ASSETS Cash and cash equivalents Trade and other receivables Inventories Financial assets Other assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment Intangibles Other financial assets TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other creditors Interest bearing liabilities Provisions Other liabilities TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Provisions TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Reserves Retained earnings TOTAL EQUITY

Note

2 (c)

2 (a) 2 (b)

2 (f)

Previous GAAP at 1 July 2004 $

INTERNATIONAL

Effect of transition to AIFRS $

AIFRS at 1 July 2004 $

6,211,413 98,670 151,679 1,000,000 349,089 7,810,851

20,060 20,060

6,211,413 98,670 151,679 1,020,060 349,089 7,830,911

22,310,796 37,739,829 60,050,625 67,861,476

(6,913) 6,913 13,120,000 13,120,000 13,140,060

22,303,883 6,913 50,859,829 73,170,625 81,001,536

376,955 77,148 691,100 793,624 1,938,827

191,629 191,629 2,130,456 65,731,020

13,140,060

191,629 191,629 2,130,456 78,871,080

16,267,064 49,463,956 65,731,020

13,140,060 13,140,060

16,267,064 62,604,016 78,871,080

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

2 FIRST-TIME ADOPTION OF AUSTRALIAN EQUIVALENTS FINANCIAL REPORTING STANDARDS Continued

Economic Entity Reconciliation of Equity at 30 June 2005 ASSETS CURRENT ASSETS Cash and cash equivalents Trade and other receivables Inventories Financial assets Other assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment Intangibles TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other creditors Provisions Other liabilities TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Provisions TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Reserves Retained earnings TOTAL EQUITY

Note

2 (c)

2 (a) 2 (b)

2 (f)

Previous GAAP at 30 June 2005 $

INTERNATIONAL

Effect of transition to AIFRS $

AIFRS at 30 June 2005 $

22,235,338 438,246 153,737 8,138,704 489,561 31,455,586

21,213 21,213

22,235,338 438,246 153,737 8,159,917 489,561 31,476,799

51,245,804 51,245,804 82,701,390

(225,744) 13,585,744 13,360,000 13,381,213

51,020,060 13,585,744 64,605,804 96,082,603

1,333,277 3,007,525 9,810,617 14,151,419

663,363 663,363 14,814,782 67,886,608

13,381,213

663,363 663,363 14,814,782 81,267,821

32,403,596 35,483,012 67,886,608

13,381,213 13,381,213

32,403,596 48,864,225 81,267,821

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

2 FIRST-TIME ADOPTION OF AUSTRALIAN EQUIVALENTS FINANCIAL REPORTING STANDARDS Continued

Parent Entity Reconciliation of Equity at 30 June 2005 ASSETS CURRENT ASSETS Cash and cash equivalents Trade and other receivables Inventories Financial assets Other assets TOTAL CURRENT ASSETS NON-CURRENT ASSETS Property, plant and equipment Intangibles Financial assets TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other creditors Provisions Other liabilities TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Provisions TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Reserves Retained earnings TOTAL EQUITY

Note

2 (c)

2 (a) 2 (b)

2 (f)

Previous GAAP at 30 June 2005 $

INTERNATIONAL

Effect of transition to AIFRS $

AIFRS at 30 June 2005 $

9,322,797 132,418 125,792 1,000,000 298,424 10,879,431

21,213 21,213

9,322,797 132,418 125,792 1,021,213 298,424 10,900,644

21,645,950 37,739,829 59,385,779 70,265,210

(5,192) 5,192 13,120,000 13,120,000 13,141,213

21,640,758 5,192 50,859,829 72,505,779 83,406,423

247,107 591,717 1,130,749 1,969,573

271,699 271,699 2,241,272 68,023,938

13,141,213

271,699 271,699 2,241,272 81,165,151

14,110,064 53,913,874 68,023,938

13,141,213 13,141,213

14,110,064 67,055,087 81,165,151

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

2 FIRST-TIME ADOPTION OF AUSTRALIAN EQUIVALENTS FINANCIAL REPORTING STANDARDS Continued

Economic Entity Reconciliation of Profit or Loss 2005

REVENUE AND OTHER INCOME Fundraising Government grants Sale of goods Other income Proceeds on disposal of fixed assets Net gain on sale of property, plant & equipment Changes in value of investment Total revenue from operating activities

Note

Previous GAAP at 30 June 2005 $

INTERNATIONAL

Effect of transition to AIFRS $

AIFRS at 30 June 2005 $

5,078,852 19,149,130 14,832,134 5,987,824 2,596,495 -

240,000 (2,596,495) 698,582

5,078,852 19,389,130 14,832,134 5,987,824 698,582

47,644,435

1,153 (1,656,760)

1,153 45,987,675

EXPENSES FROM OPERATING ACTIVITIES Cost of sales Fundraising/Public relations Administration Total expenses from operating activities

9,958,007 629,066 2,473,407 13,060,480

Total funds available for other activities

34,583,955

(1,656,760)

32,927,195

8,047,229 11,706,423 7,707,519 1,668,978 2,852,509

954,596 (2,852,509)

8,047,229 12,661,019 7,707,519 1,668,978 -

31,982,658

(1,897,913)

30,084,745

2,601,297

241,153

2,842,450

EXPENSES FROM OTHER ACTIVITIES People in need services Aged care services Homeless & housing services Support services Written down value of disposed/written-off fixed assets Profit from ordinary activities

2 (g)

2 (h) 2 (h) 2 (e)

2 (h)

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

2 FIRST-TIME ADOPTION OF AUSTRALIAN EQUIVALENTS FINANCIAL REPORTING STANDARDS Continued

Parent Entity Reconciliation of Profit or Loss 2005

Note

Previous GAAP at 30 June 2005 $

INTERNATIONAL

Effect of transition to AIFRS $

AIFRS at 30 June 2005 $

4,742,016 4,120,873 13,751,012 503,802 1,638,596 -

(1,638,596) 407,337

4,742,016 4,120,873 13,751,012 503,802 407,337

24,756,299

1,153 (1,230,106)

1,153 23,526,193

EXPENSES FROM OPERATING ACTIVITIES Cost of sales Fundraising/Public relations Administration Total expenses from operating activities

8,391,472 629,066 2,473,407 11,493,945

Total funds available for other activities

13,262,354

(1,230,106)

12,032,248

8,069,199 1,668,978 1,231,259

(1,231,259)

8,069,199 1,668,978 -

10,969,436

(1,231,259)

9,738,177

2,292,918

1,153

2,294,071

EXPENSES FROM OTHER ACTIVITIES People in need services Support services Written down value of disposed/written-off assets Profit from ordinary activities

2 (h) 2 (h) 2 (e)

2 (h)

There were no material differences between the cash flow statement presented under AIFRS and the cash flow statement presented under superseded policies.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

2 FIRST-TIME ADOPTION OF AUSTRALIAN EQUIVALENTS FINANCIAL REPORTING STANDARDS Continued

(a) Reclassifications have been made to the balance sheet for the year ended 30 June 2005 as follows: Under Australian equivalents to IFRS, computer software must be classified under intangible assets This reclassification has no effect on net profit for the 2005 financial year. (b) Intangible assets comprise: Economic Entity Aged Care Bed Licences recognised on transition at deemed cost (being their fair value at transition date, 1 July 2004, and on acquisition) Computer Software reclassified Total Parent Entity Computer Software reclassified Total (c) Current financial assets comprise: Economic and Parent Entity Shares in listed corporations recognised at fair value Total

Note

INTERNATIONAL

30 June 2005 $

1 July 2004 $

13,360,000

13,120,000

225,744 13,585,744

355,735 13,475,735

5,192 5,192

6,913 6,913

21,213

20,060

21,213

20,060

(d) Non-current financial assets comprise: Parent Entity Contribution of Aged Care Bed Licences by Government recognised at their fair value at date of acquisition (deemed cost) Total

13,120,000

(e) An unrealised gain from changes in the fair

1,153

value of a listed investment has been recognised under the Australian equivalents to IFRS which has increased its recoverable amount. This has been recognised in the income statement for the year ended 30 June 2005.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

2 FIRST-TIME ADOPTION OF AUSTRALIAN EQUIVALENTS FINANCIAL REPORTING STANDARDS Continued

(f) Retained earnings comprise: Economic Entity Aged Care Bed Licences recognised on transition at deemed cost (being their fair value at transition date, 1 July 2004, and on acquisition) Investment recognised at fair value Total Parent Entity Aged Care Bed Licences recognised on transition at deemed cost (being their fair value at 1 July 2004) Investment recognised at fair value Total (g) Adjustment to Government grant income comprise: Economic Entity Contribution of Aged Care Bed Licences by Government recognised at their fair value at date of acquisition (deemed cost)

Note

INTERNATIONAL

30 June 2005 $

1 July 2004 $

13,360,000

13,120,000

21,213 13,381,213

20,060 13,140,060

13,120,000

21,213 13,141,213

20,060 13,140,060

240,000

(h) Reclassifications have been made to the income statement for the year ended 2005 as follows: Under Australian equivalents to IFRS, the sale of non-current assets must be reflected as a gain or loss on sale and not separately split between proceeds and costs of disposal. This reclassification has no effect on net profit for the 2005 financial year.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

2,427,252 3,990,065 6,417,317

1,474,659 3,604,193 5,078,852

2,128,436 3,672,385 5,800,821

1,374,988 3,367,028 4,742,016

1,644,873 7,640,684 9,132,282 640,000 19,057,839

4,120,873 7,483,490 7,544,767 240,000 19,389,130

1,644,873 1,644,873

4,120,873 4,120,873

14,688,699 249,155 274,701 1,023,944 16,236,499

13,485,692 265,320 1,081,122 14,832,134

14,688,699 249,155 274,701 15,212,555

13,485,692 265,320 13,751,012

4,056,714 295,128 1,966,322 340,337 6,658,501

3,700,023 312,930 1,685,420 289,451 5,987,824

597,151 272,247 869,398

349,851 153,951 503,802

5,765

1,153

5,765

1,153

48,375,921

45,289,093

23,533,412

23,118,856

Note 3 REVENUE AND OTHER INCOME (a) Fundraising Activities Bequests Donations (b) Government Grants Councils/Conferences/Centres Community & Support Services Group Aged Care Group Aged Care bed licences granted (c) Sale of Goods Sales - Centres of Charity Sales - Groceries Sales - Piety Sales - Ozanam Enterprises (d) Other Income Client rent/fees Accomodation bonds retention Interest received - other persons Sundry income (e) Changes in value of investment TOTAL REVENUE

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

4,954,656

4,689,352

3,705,941

3,463,416

862,699 4,805,151 10,622,506

478,648 4,790,007 9,958,007

795,494 4,544,144 9,045,579

411,103 4,516,953 8,391,472

251,036 313,255 92,171 656,462

242,211 337,365 49,490 629,066

251,036 313,255 92,171 656,462

242,211 337,365 49,490 629,066

175,145 31,473 1,155,080 256,986 69,255 70,459 35,955 2,700 176,460 100,372 48,896 28,138 22,646 240,627 635,749 3,049,941

161,914 21,464 1,060,346 213,953 38,267 46,775 31,467 10,800 142,644 113,760 42,321 23,284 37,388 197,029 331,995 2,473,407

175,145 31,473 1,155,080 256,986 69,255 70,459 35,955 2,700 176,460 100,372 48,896 28,138 22,646 240,627 635,749 3,049,941

161,914 21,464 1,060,346 213,953 38,267 46,775 31,467 10,800 142,644 113,760 42,321 23,284 37,388 197,029 331,995 2,473,407

209,955 38,576 2,716,769 1,014,178 197,054 367,161 223,973 68,298 320,342 17,672 25,592

208,437 28,715 2,379,837 999,103 154,894 299,224 187,660 63,891 307,702 28,623 34,487

209,955 38,576 2,716,769 1,014,178 197,054 367,161 223,973 68,298 320,342 17,672 25,592

208,437 28,715 2,379,837 999,103 154,894 299,224 187,660 63,891 307,702 28,623 34,487

1,200,199 537,169 20,000 19,472 227,046 7,203,456

2,555,938 375,300 20,000 2,693 400,725 8,047,229

21,908 1,200,199 537,169 20,000 19,472 241,621 7,239,939

21,970 2,555,938 375,300 20,000 2,693 400,725 8,069,199 21

Note 4 OPERATING SURPLUS Operating expenses (a) Cost of Sales Employee salaries & benefits Cost of goods sold - purchases /materials Selling & Administration (b) Fundraising/Public relations Employee salaries & benefits Promotion Other (c) Administration Computer maintenance Audit Employee salaries & benefits Depreciation & amortisation Insurance Legal Motor vehicle running costs Occupancy Printing/Postage/Office supplies Repairs & maintenance Telephone Training Travel & accommodation Other State Council (d) People in Need Services Accommodation Cash Food vouchers Food purchases Transport Whitegoods Utilities Medical Education Compassionate Youth Grants to Community Services Group Migrant & Refugees Overseas Indigenous Program Bursary Sundry

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

675,541 307,892 609,818 9,186,744 222,503 189,046 171,377 48,880 305,629 30,671 44,978 344,675 202,740 613,005 12,953,499

671,015 264,463 542,376 8,321,698 205,904 146,494 158,446 39,812 246,517 28,836 47,311 325,760 219,692 1,442,695 12,661,019

203,606

213,194

1,047,896 386,712 5,031,569 159,474 134,270 146,892 141,809 87,441 93,654 365,061 7,798,384

1,054,554 388,360 4,779,387 182,240 87,423 146,974 194,199 115,564 112,333 433,291 7,707,519

168,000

160,000

168,000

160,000

717,717 185,905

595,570 142,252

717,717 185,905

595,570 142,252

524,835 579,515 67,490 2,243,462

164,069 607,087 1,668,978

524,835 579,515 67,490 2,243,462

164,069 607,087 1,668,978

44,527,710

43,145,225

22,235,383

21,232,122

Note 4 OPERATING SURPLUS continued (e) Aged Care Services Catering & Food Cleaning Depreciation Employee salaries & benefits Occupancy Medical & other supplies Legal & Audit Motor vehicle running Repairs & maintenance Resident amenities Telephone Utilities Workcover Other (f) Homelessness & Housing Services Cleaning/Waste removal Client support/Emergency accomodation Depreciation Employee salaries & benefits Occupancy Legal & Audit Motor vehicle running Repairs & Maintenance Telephone Utilities Other (g) Support Services Accounting & payroll support Conference Support -Employee salaries & benefits Conference Support - Other State, National, International Councils Conference operating Vinnies Budget Groceries set up

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

Note 4 OPERATING SURPLUS continued (i) Surplus from operating activities has been determined after: (i) Expenses Depreciation and amortisation of property, plant & equipment - Buildings 590,469 - Building Improvements 33,804 - Leasehold Improvements 12,502 - Furniture, Plant and Equipment 417,965 - Motor Vehicles 539,151 - Leased Motor Vehicles - Computer Equipment 74,379 1,668,270

545,017 14,460 10,210 410,911 544,859 50,572 73,105 1,649,134

266,668 127,034 352,456 42,996 789,154

247,721 117,346 365,069 50,572 39,545 820,253

193,924

162,095

19,059

4,324

Write off of plant and equipment

19,725

954,596

Bad and doubtful debts

11,449

13,504

1,422,546

1,334,632

1,337,904

1,242,229

79,121 79,121

51,641 51,641

40,011 40,011

21,464 21,464

869,275

698,582

921,994

407,337

1,077,586 96,000 38,013

514,380 48,000 11,013

557,016 48,000 21,013

96,982 1,308,581

46,294 619,687

50,131 676,160

Amortisation of Computer Software

Rental expense on operating leases - Minimum lease payments Remuneration of Auditor - Audit - Other Services

(ii) Net gains Gain on sale of property, plant and equipment

Note

5 KEY MANAGEMENT PERSONNEL COMPENSATION Short-term employee benefits - Salary & Fees 1,092,877 - Non-Cash Benefits 96,000 - Other 23,013 Post-employment benefits - Superannuation 98,358 Total 1,310,248

The basis of key management personnel are those officers that report to a Chief Executive Officer.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006

Note 6 CASH AND CASH EQUIVALENTS Cash on hand Cash deposits with banks - Councils & Central Office - Centres - Aged Care & Community Services Term Deposits Councils & Central Office - Employee Entitlements - Migrant & Refugees - Overseas Relief - Disaster Relief - Refugee Resettlement - Conferences/Councils Centres - Employee Entitlements - Capital & Property Maintenance Aged Care & Community Services - Funds Awaiting Utilisation - Employee Entitlements - Residents' Trust

Note 7 TRADE AND OTHER RECEIVABLES Trade debtors Allowance for doubtful debts Other debtors Total Current Receivables

Note 8 INVENTORIES Finished goods - average cost

Note 9 OTHER FINANCIAL ASSETS CURRENT Medium term notes - Funds Awaiting Distribution - Residents' Trust Fair-value through profit and loss: - Units in managed investment funds - shares in listed corporations at fair value

ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

20,394

15,590

3,004

1,350

109,604 (292,425) 913,726

(89,995) (42,253) 1,008,374

109,604 (292,425) -

(89,995) (42,253) -

383,983 429,854 263,149 76,389 5,096,987

400,000 493,155 215,878 71,840 2,233,455 3,646,862

383,983 429,854 263,149 76,389 5,096,987

400,000 493,155 215,878 71,840 2,233,455 3,646,862

588,399 2,781,945

500,000 1,892,505

588,399 2,781,945

500,000 1,892,505

2,978,544 6,810,787

1,370,249 2,807,472 7,712,206

20,161,336

22,235,338

9,440,889

9,322,797

411,078 (22,587) 388,491

304,061 (16,184) 287,877

115,282 115,282

117,833 117,833

1,668,189 2,056,680

150,369 438,246

1,492,634 1,607,916

14,585 132,418

183,060

153,737

154,926

125,792

9,482,500 3,517,500

8,000,000 -

2,000,000 -

1,000,000 -

138,704

26,978 13,026,978

21,213 8,159,917

26,978 2,026,978

21,213 1,021,213

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006

Note 9 OTHER FINANCIAL ASSETS Continued NON CURRENT Investment in Controlled entity

ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

Country of Incorporation

Parent Entity: St Vincent de Paul Society Victoria Inc.

Aust

Controlled entities of St Vincent de Paul Society Victoria Inc. St Vincent de Paul Aged Care and Community Services Note 10 OTHER ASSETS - CURRENT GST recoveries Prepayments Accrued income

225,970 150,933 37,289 414,192

Aust

189,852 199,395 100,314 489,561

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

50,859,829

Percentage Owned -

100%

225,970 7,000 37,289 270,259

100%

189,852 8,258 100,314 298,424

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

Note 11 PROPERTY, PLANT & EQUIPMENT LAND At cost BUILDINGS At cost Buildings under construction Less accumulated depreciation BUILDING IMPROVEMENTS At cost Less accumulated depreciation LEASEHOLD IMPROVEMENTS At cost Less accumulated depreciation FURNITURE, PLANT & EQUIPMENT At cost Less accumulated depreciation MOTOR VEHICLES At cost Less accumulated depreciation MOTOR VEHICLES UNDER FINANCE LEASES At cost Less accumulated depreciation COMPUTER HARDWARE At cost Less accumulated depreciation

25,369,801

24,680,899

9,598,790

9,694,953

24,025,488 1,026,310 (2,649,152) 22,402,646

22,050,765 1,544,043 (2,093,533) 21,501,275

10,368,063 (996,136) 9,371,927

10,018,556 236,819 (764,318) 9,491,057

402,785 (48,530) 354,255

201,957 (14,763) 187,194

43,103 (28,160) 14,943

42,012 (15,658) 26,354

4,365,414 (2,037,790) 2,327,624

3,741,766 (1,829,455) 1,912,311

1,341,252 (452,782) 888,470

1,065,721 (325,746) 739,975

4,093,770 (1,622,258) 2,471,512

3,836,020 (1,218,968) 2,617,052

2,883,586 (1,211,318) 1,672,268

2,572,380 (898,302) 1,674,078

378,409 (276,781) 101,628

386,663 (291,688) 94,975

203,091 (167,414) 35,677

165,114 (124,419) 40,695

53,042,409

51,020,060

21,567,132

21,640,758

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 ECONOMIC ENTITY 2006 $ Note 11 PROPERTY, PLANT & EQUIPMENT - continued

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

Reconciliations Reconciliations of the carrying amounts of each class of property, plant & equipment at the beginning and end of the current and previous financial year are set out below: Total Land

Carrying amount at beginning of financial year

Additions Disposals Carrying amount at end of financial year Total Buildings

Carrying amount at beginning of financial year

Additions Disposals Reclassifications Less depreciation Carrying amount at end of financial year Total Building Improvements

Carrying amount at beginning of financial year

Additions Disposals Reclassifications Less depreciation Carrying amount at end of financial year Total Leasehold Improvements

Carrying amount at beginning of financial year

Additions Less depreciation Carrying amount at end of financial year Total Furniture, Plant & Equipment

Carrying amount at beginning of financial year

Additions Impairment losses Reclassifications Less depreciation Carrying amount at end of financial year Total Motor Vehicles

Carrying amount at beginning of financial year

Additions Disposals Reclassifications Less depreciation Carrying amount at end of financial year Total Motor Vehicles under Finance

Carrying amount at beginning of financial year

Less depreciation Carrying amount at end of financial year

24,680,899 1,063,722 (374,820) 25,369,801

25,363,699 (682,800) 24,680,899

9,694,953 278,657 (374,820) 9,598,790

10,173,753 (478,800) 9,694,953

21,501,275 1,806,218 (249,880) (64,498) (590,469) 22,402,646

20,231,006 2,268,608 (409,573) (43,749) (545,017) 21,501,275

9,491,057 397,418 (249,880) (266,668) 9,371,927

9,421,337 607,912 (290,471) (247,721) 9,491,057

187,194 203,878 (3,013) (33,804) 354,255

164,873 36,781 (14,460) 187,194

26,354 1,091 (12,502) 14,943

36,564 (10,210) 26,354

1,912,311 804,616 (16,051) 44,714 (417,966) 2,327,624

2,898,252 372,598 (954,596) 6,968 (410,911) 1,912,311

739,973 275,531 (127,034) 888,470

843,380 13,941 (117,346) 739,975

2,617,052 1,090,877 (717,740) 20,474 (539,151) 2,471,512

2,597,525 1,367,737 (803,351) (544,859) 2,617,052

1,674,078 782,445 (431,799) (352,456) 1,672,268

1,763,112 735,985 (459,950) (365,069) 1,674,078

50,572 (50,572) -

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 ECONOMIC ENTITY 2006 $ Note 11 PROPERTY, PLANT & EQUIPMENT - continued Total Computer Hardware

Carrying amount at beginning of financial year

Additions Disposals Impairment losses Reclassifications Less depreciation Carrying amount at end of financial year Total Property, Plant & Equipment

Carrying amount at beginning of financial year

Additions Disposals Impairment losses Less depreciation Carrying amount at end of financial year

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

94,975 85,396 (3,674) (690) (74,379) 101,628

117,283 52,985 (2,188) (73,105) 94,975

40,696 37,977 (42,996) 35,677

51,730 30,548 (2,038) (39,545) 40,695

51,020,060 5,055,797 (1,345,453) (19,725) (1,668,270) 53,042,409

51,294,901 4,226,801 (1,897,912) (954,596) (1,649,134) 51,020,060

21,640,757 1,772,028 (1,056,499) (789,154) 21,567,132

22,303,884 1,388,386 (1,231,259) (820,253) 21,640,758

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006

ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

14,000,000

13,360,000

611,600 (489,570) 122,030

521,390 (295,646) 225,744

66,222 (26,840) 39,382

12,973 (7,781) 5,192

14,122,030

13,585,744

39,382

5,192

Note 12 INTANGIBLES AGED CARE BED LICENCES Aged Care Bed Licences at cost COMPUTER SOFTWARE & IT DEVELOPMENT At cost Less accumulated amortisation Total Intangibles

Reconciliations Reconciliations of the carrying amounts of each class of intangible assets at the beginning and end of the current and previous financial year are set out below: Aged Care Bed Licences Carrying amount at beginning of financial year Additions - contributed by Government Carrying amount at end of financial year

13,360,000 640,000 14,000,000

13,120,000 240,000 13,360,000

225,744 90,210 (193,924) 122,030

355,735 32,104 (162,095) 225,744

5,192 53,249 (19,059) 39,382

6,913 2,603 (4,324) 5,192

13,585,744 730,210 (193,924) 14,122,030

13,475,735 272,104 (162,095) 13,585,744

5,192 53,249 (19,059) 39,382

6,913 2,603 (4,324) 5,192

478,569

572,126

125,386

(27,076)

978,514 253,828 254,793 1,965,704

356,358 327,404 77,389 1,333,277

839,414 58,304 8,995 1,032,099

195,817 78,366 247,107

(a)

3,488,671

3,007,525

784,749

591,717

(a)

490,972

663,363

216,350

271,699

3,979,643

3,670,888

1,001,099

863,416

10,328,287 484,749 262,995 11,076,031

7,712,206 582,400 1,331,360 184,651 9,810,617

400,000 148,940 548,940

1,032,400 98,349 1,130,749

Total Computer Software & IT Development

Carrying amount at beginning of financial year

Additions Less amortisation Carrying amount at end of financial year Total Intangibles

Carrying amount at beginning of financial year

Additions Less amortisation Carrying amount at end of financial year

Note 13 TRADE AND OTHER PAYABLES Trade creditors Unsecured: Accrued creditors Other creditors Amount payable to subsidiary Grants in advance Note 14 PROVISIONS - CURRENT Employee benefits PROVISIONS - NON-CURRENT Employee benefits

(a) Aggregate Employee Entitlement Liability Note 15 OTHER LIABILITIES Unsecured Refundable accommodation bonds Prepaid income Other liabilities GST payable

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006

Note 16 RESERVES Nature and Purpose of Reserves:

ENTITY 2006 $

ENTITY 2005 $

ENTITY 2006 $

ENTITY 2005 $

Asset revaluation reserve Represents previous increases in valuation of land and buildings. Land and buildings are now held at deemed cost, however the entity is using this reserve to keep record of those previous revaluations. Capital profits reserve Represents the capital value of land and building sold Fund-a-Future reserve Represents funds set aside for an accommodation and support program to homeless young people between the ages of 15 and 24. Note 17 LEASE COMMITMENTS RECEIVABLE Commitments in relation to a lease contracted for at the reporting date but not recognised as assets, receivable: Within one year Later than one year but not later than 5 years Later than five years

Representing Non-cancellable operating lease

38,233 38,233

60,767 32,000 92,767

50,000 200,000 150,000 400,000

50,000 200,000 200,000 450,000

38,233

92,767

400,000

450,000

Note 18 CAPITAL AND LEASE COMMITMENTS (a) Lease Commitments Payable Commitments in relation to leases contracted for at the reporting date but not recognised as liabilities, payable: Property - Operating Leases Not later than one year

Later than one year but not later than 5 years

Later than five years

1,304,489 1,248,861 12,533 2,565,883

892,550 1,127,395 33,104 2,053,049

1,216,644 1,208,460 11,783 2,436,887

769,792 1,005,714 32,349 1,807,855

The property leases are non cancellable leases spanning various terms with rental paid monthly in advance. This covers property leases for Centres and Community Services. (b) Capital Commitments Capital expenditure commitments contracted for: Purchase of property Capital expenditure projects

Payable Not later than one year

702,000 798,996 1,500,996

1,500,996

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 ECONOMIC ENTITY 2006 $

ECONOMIC ENTITY 2005 $

PARENT ENTITY 2006 $

PARENT ENTITY 2005 $

Note 19 NOTES TO THE STATEMENT OF CASH FLOWS (a) Reconciliation of cash and cash equivalents Cash and cash equivalents at the end of the financial period as shown in the Cash Flow Statement is reconciled to the related items in the Balance Sheet as follows: Cash on hand Cash deposits with banks Bank term deposits Balance per Cash Flow Statement

20,394 730,905 19,410,037 20,161,336

15,590 876,126 21,343,622 22,235,338

3,004 (182,821) 9,620,706 9,440,889

1,350 (132,248) 9,453,695 9,322,797

(b) Reconciliation of cash flow from operations with operating surplus after income tax Operating surplus

4,717,486

2,842,450

2,220,023

2,294,071

1,862,194 (869,275)

1,811,229 (698,582)

808,213 (921,994)

824,577 (407,337)

(284,607)

(300,263)

(129,182) 19,725 (640,000) (5,765)

(204,281) 954,596 (240,000) (1,153)

(5,765)

(1,153)

(1,591,527) (29,323) 48,462 (718,240) 308,755

(209,398) 31,854 (578,049) 1,162,737 74,914

(1,448,591) (29,134) 1,258 203,183 137,683

(153,586) 25,887 (599) 378,378 (19,314)

2,688,703

4,646,054

964,876

2,940,924

Cash flows in operating activities but not in operating result Non-cash flows in operating surplus Depreciation and amortisation (Profit)/loss on sale of fixed assets Residents' accommodation bond retentions Interest deducted from residents' accommodation bond Fixed assets written off Aged Care bed licences granted Changes in value of investment Changes in assets and liabilities (Increase)/decrease in receivables (Increase)/decrease in inventories (Increase)/decrease in prepayments Increase/(decrease) in payables Increase/(decrease) in provisions Cash Flows from operations

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

20 FINANCIAL INSTRUMENTS (a) Financial Risk Management The Group's financial instruments consist mainly of deposits with banks, short-term investments, accounts receivable and payable, amounts due to and from the parent entity, and refundable accommodation bonds. The main purpose of non-derivative financial instruments is to raise finance for group operations. The Group does not have any derivative instruments at 30 June 2006. (i)

Treasury Risk Management The Chief Financial Officer is delegated the responsibility of determining the spread of investments across available financial investment options within the confines of the Society's Treasury Policy and analysing interest rate exposure in the context of the most recent economic conditions and forecasts. A finance committee consisting of representatives of State Council and external appointees meet on a regular basis to monitor movement in the financial investments and make recommendations to State Council.

(ii)

Financial Risks The main risks the Group is exposed to through its financial instruments are interest rate risk, liquidity risk and credit risk. Interest rate risk The Group is subject to normal commercial interest rate fluctuations on its bank accounts and money market instruments. For further details on interest rate risk, refer to Note 20(b). Foreign currency risk The Group is not exposed to fluctuations in foreign currencies. Liquidity risk The Group manages liquidity risk by monitoring forecast cash flows and ensuring that adequate unutilised borrowing facilities are maintained. Credit risk The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets, is the carrying amount, net of any provisions for impairment of those assets, as disclosed in the balance sheet and notes to the financial statements. Price risk The Group is not exposed to any material commodity price risk.

(b) Interest Rate Risk The Group's exposure to interest rate risk, which is the risk that a financial instrument's value will fluctuate as a result of changes in market interest rates, and the effective weighted average interest rates on those financial assets and financial liabilities, are as follows: Exposures arise predominantly from assets bearing variable interest rates as the Group intends to hold fixed interest rate assets to maturity.

Note

5.84% 6.26%

6.02% 6.80%

1,290,342 -

2006 $

14,290,342

5.60% 2,000,000 5.98% 11,000,000

5.57% 5.08%

2005 $

10,070,558

1,000,000 7,000,000

18,853,603

20,116,167

7,609,544 12,506,623

Fixed interest rate maturing in: 1 year or less Over 1 to 5 years 2006 2005 2006 2005 $ $ $ $

8,150,547 1,713,253 357,305 10,703,056

2005 $

Floating Interest Rate

12,302,193

148,940 10,328,287

1,023,104 801,862

2,101,048

26,978 -

1,607,916 448,764

17,390

2006 $

1,607,916 448,764

1,023,104 801,862

9,152,745 12,302,193

148,940 98,349 7,712,206 10,328,287

247,107 1,095,083

646,777 35,244,993

2,026,978 21,213 138,704 11,000,000

132,418 305,829

9,440,889 48,613 10,720,446

2005 $

Non Interest bearing

9,152,745

98,349 7,712,206

247,107 1,095,083

30,833,502

1,021,213 7,138,704

132,418 305,829

9,322,797 12,912,541

2005 $

Total carrying amount as per the statement of financial position

Non-interest bearing other financial assets consist of shares in a listed corporation and amounts invested within managed investment funds on which the Company receives quarterly distributions, and shares in listed entities, carried at fair value.

Total Financial Liabilities

Refundable Accommodation Bonds -SVDP Inc. -ACCS

Trade and Other Payables -SVDP Inc. -ACCS

(ii) Financial Liabilities

Total Financial assets

Other Financial Assets -SVDP Inc. -ACCS

Trade and Other Receivables -SVDP Inc. -ACCS

Cash -SVDP Inc. -ACCS

2006 $

Weighted average effective interest rate

FINANCIAL INSTRUMENTS - continued

(i) Financial Assets

Financial Instruments

(c)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006

ABN: 28 911 702 061 RN: A0042727Y

St Vincent de Paul Society Victoria Inc.

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note 20 FINANCIAL INSTRUMENTS - continued (d) Net Fair Values The net fair values of listed investments have been valued at the quoted market bid price at balance date adjusted for transaction costs expected to be incurred. For other assets and liabilities, the net fair value approximates their carrying value. No financial assets and financial liabilities are readily traded on organised markets in standardised form other than listed investments. The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the Balance Sheet and in the notes to the financial statements. Aggregate net fair values and carrying amounts of financial assets and financial liabilities at balance date

Financial assets Cash Trade and other receivables Other financial assets Financial liabilities Trade and other payables Refundable accommodation bonds

2006 Carrying Net Fair Amount Value $ $

2005 Carrying Net Fair Amount Value $ $

20,161,335 2,056,680 13,026,978 35,244,993

22,235,338 438,247 8,159,917 30,833,502

22,235,338 438,247 8,162,625 30,836,210

1,973,906 10,328,287 12,302,193

1,440,539 7,712,206 9,152,745

Fair values are materially in line with carrying values.

St Vincent de Paul Society Victoria Inc. St Vincent Society Victoria Inc. ABN: 28de 911Paul 702 061 RN: A0042727Y ABN: 28 911 702 061 RN: A0042727Y NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL FOR THE YEAR ENDED 30STATEMENTS JUNE 2006 FOR THE YEAR ENDED 30 JUNE 2006

Note 21 RELATED PARTY DISCLOSURES Note 21 RELATED PARTY DISCLOSURES Transactions between related parties are on normal commercial terms and conditions no more favourable than Transactions between on normal commercial terms and conditions no more favourable than available to otherrelated partiesparties unless are otherwise stated. those those available to other parties unless otherwise stated. The parent entity is St Vincent de Paul Society Victoria Inc. The parent entity is St Vincent de Paul Society Victoria Inc. The amount payable to St Vincent de Paul Aged Care and Community Services is disclosed in Note 13 to the The amount payable to St Vincent de Paul Aged Care and Community Services is disclosed in Note 13 to the financial statements. financial statements. St Vincent de Paul Aged Care and Community Services received the following revenue from the Society during St Paul Aged Care and Community Services received the following revenue from the Society during theVincent financialdeyear: the financial year:  donations totalling $21,908; and donations totalling $21,908; and  sales totalling $14,575.  sales totalling $14,575. During the financial year, St Vincent de Paul Aged Care and Community Services paid the Society $50,000 for During theoffinancial year, St Vincent de PaulStreet, Aged Box CareHill. and Community Services paid the Society $50,000 for the rental the office premises at Prospect the rental of the office premises at Prospect Street, Box Hill. Note 22 SEGMENT REPORTING Note 22 SEGMENT REPORTING ST VINCENT DE PAUL SOCIETY INC. ST DE PAUL SOCIETY INC. For VINCENT management purposes, the Association is organised into two major operating divisions, being centres of For management purposes, the Association is organised twoonmajor divisions, being its centres of charity and conferences and councils. The divisions are theinto basis whichoperating the Parent entity reports primary charity and conferences and councils. The divisions are the basis on which the Parent entity reports its primary segment information. segment information. The centres of charity segment provides material aid free of charge to those in need and sells surplus donated The centres of charity segment provides material aid free of charge to those in need and sells surplus donated goods. goods. The conferences and councils segment provides assistance to those in need. The conferences and councils segment provides assistance to those in need. Financial information about the Parent entity's business segments is presented in the schedule on the following Financial information about the Parent entity's business segments is presented in the schedule on the following page. page. ST VINCENT DE PAUL AGED CARE AND COMMUNITY SERVICES ST VINCENT DE PAUL AGED CARE AND COMMUNITY SERVICES For management purposes, the Company is organised into two major operating divisions, being aged care For management purposes, the Company is organised intoontwo major aged care services and community services. The divisions are the basis which the operating Company divisions, reports its being primary segment services and community services. The divisions are the basis on which the Company reports its primary segment information. information. The aged care services segment provides care and accommodation for elderly and disadvantaged citizens The aged care segment provides care and centre accommodation for elderly disadvantaged citizens through a mix of services hostels, nursing homes, a day therapy and independent livingand units. through a mix of hostels, nursing homes, a day therapy centre and independent living units. The community services segment operates a range of accommodation and support initiatives for people who The community services segment operates a range ofsuch accommodation and support initiatives for people experience homelessness; providing help with issues as general health concerns, drug and alcoholwho abuse, experience homelessness; help with issues as general health concerns, drug and abuse, employment education and providing training options, and socialsuch exclusion and isolation. This segment alsoalcohol includes a employment education andand training options, and social service. exclusion and isolation. This segment also includes a domestic violence service a disability employment domestic violence service and a disability employment service. There are no inter-segment transactions. There are no inter-segment transactions. Financial information about the Company's business segments is presented in the schedule on the following Financial information about the Company's business segments is presented in the schedule on the following page. page.

35 35

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note 22 SEGMENT INFORMATION Continued Primary reporting - business segments Centres of Charity $ 2006 REVENUE Fundraising activities Government grants Sale of goods 14,688,699 Client / resident fees Accommodation bond retentions Accommodation charge Interest received Grants received from Centres Grants received from Conferences & Councils Sundry income Changes in value of investment Total segment revenue OTHER INCOME Net gain/(loss) on sale of property, plant & equipment RESULT Segment profit/(loss) ASSETS Segment assets Unallocated company assets Consolidated total assets LIABILITIES Segment liabilities Unallocated company liabilities

Conferences & Councils $

Aged Care $

Community Services $

5,800,821 1,644,873 523,856 -

77,441 9,772,282 3,683,851 295,128

560,963 7,640,684 1,038,519 372,863 -

203,684 -

393,467 4,685,715 1,298,500

48,183 1,058,592 -

310,579 -

272,247 5,765

39,169 -

30,738 -

(50,000)

292,154 5,765

14,892,383

14,625,244

14,974,646

9,954,346

(6,070,698)

48,375,921

964,177

(42,183)

(12,039)

(40,680)

869,275

1,434,702

785,321

2,110,939

386,524

4,717,486

20,395,824

14,702,664

36,881,729

8,808,752

(400,000)

80,388,969 22,617,716 103,006,685

954,781

1,618,362

12,750,879

1,448,364

(400,000)

16,372,386 648,992

Consolidated total liabilities Depreciation and amortisation of segment assets

Write off of property, plant & equipment Acquisition of non-current segment assets Aged Care bed licences acquired

Elimination $

Consolidated $

(21,908)

6,417,317 19,057,839 16,236,499 4,056,714 295,128

(14,575)

(4,685,715) (1,298,500)

48,183 1,966,322 -

17,021,378 455,709

352,504

609,818

444,163

1,862,194

7,012

12,713

19,725

476,075

1,349,202

2,796,767

523,964

5,146,008

640,000

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006

Note 21 SEGMENT INFORMATION Continued Primary reporting - business segments Continued Centres of Conferences Charity & Councils $ $ 2005 REVENUE Fundraising activities 4,742,016 4,120,873 Government grants Sale of goods 13,485,692 265,320 Client / resident fees Accommodation bond retentions Accommodation charge Interest received Grants received from Centres Refugee Program Recovery Fees Sundry income Changes in value of investment Total segment revenue OTHER INCOME Net gain/loss on sale of property, plant & equipment RESULT Segment profit/(loss) ASSETS Segment assets Unallocated company assets Consolidated total assets LIABILITIES Segment liabilities Unallocated company liabilities

Aged Care $

Community Services $

113,497 7,784,767 3,397,199 312,930

223,339 7,483,490 1,081,122 302,824 -

5,078,852 19,389,130 14,832,134 3,700,023 312,930 61,124 1,685,420 -

Elimination $

106,730 101,703

243,121 2,001,976 -

61,124 957,458

378,111

153,951 1,153

9,321 -

87,025 -

(21,970)

228,327 1,153

13,694,125

11,528,410

12,636,296

9,555,911

(2,125,649)

45,289,093

432,346

(25,009)

10,108

281,137

698,582

838,785

1,455,286

17,626

530,753

2,842,450

18,673,428

13,873,166

34,506,295

9,434,317

(450,000)

76,037,206 20,045,397 96,082,603

667,086

1,574,186

10,315,316

735,904

(450,000)

12,842,492 1,972,290

(2,001,976) (101,703)

Consolidated total liabilities Depreciation and amortisation of segment assets

Write off of property, plant & equipment Acquisition of non-current segment assets Aged Care bed licences acquired

Consolidated $

14,814,782 518,795

305,782

542,376

444,276

1,811,229

954,596

974,450

416,538

1,097,399

1,770,518

4,258,905

240,000

954,596

Secondary reporting - geographic segment St Vincent de Paul Society Victoria Inc. operates within Australia. St Vincent de Paul Aged Care and Community Services operates within Australia. 37

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

23 CHANGE IN ACCOUNTING POLICY The following Australian Accounting Standards issued or amended which are applicable to the Group but are not yet effective have not been adopted in preparation of the financial statements at reporting date. AASB Standard Affected AASB 1: First-time Adoption of AIFRS AASB 139: Financial Instruments: Recognition and Measurement

Nature of Change in Accounting No change, no impact No change, no impact

2005 06

AASB 3: Business Combinations

2005 9

AASB Amendment 2005 5

Application Date Application Date for the Group of the Standard 1 January 2006 1 July 2006 1 January 2006

1 July 2006

No change, no impact

1 January 2006

1 July 2006

AASB 132: Financial Instruments: Recognition and Measurement

No change, no impact

1 January 2006

1 July 2006

AASB 139: Financial Instruments: Disclosure and Presentation

St Vincent de Paul Society Victoria Inc. is in the process of evaluating the effect of these changes of which the impact is not reasonably estimable at the date of this financial report

1 January 2006

1 July 2006

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

22 CHANGE IN ACCOUNTING POLICY Continued AASB Amendment 2005 10

AASB Standard Affected AASB 139: Financial Instruments: Recognition and Measurement

Nature of Change in Accounting No change, no impact

AASB 101: Presentation of Financial Statements AASB 114: Segment Reporting

No change, no impact

1 January 2007

1 July 2007

No change, no impact

1 January 2007

1 July 2007

No change, no impact AASB 133: Earnings No change, no per Share impact

1 January 2007

1 July 2007

1 January 2007

1 July 2007

AASB 117: Leases

New Standard

Application Date Application Date of the Standard for the Group 1 January 2007 1 July 2007

AASB 1: First-time Adoption of AIFRS AASB 4: Insurance Contracts

No change, no impact No change, no impact

1 January 2007

1 July 2007

1 January 2007

1 July 2007

AASB 1023: General Insurance Contracts

No change, no impact

1 January 2007

1 July 2007

AASB 1038: Life No change, no Insurance Contracts impact

1 January 2007

1 July 2007

AASB 7: Financial Instruments: Disclosure

1 January 2007

1 July 2007

No change, no impact

All other pending Standards issued between the previous financial report and the current reporting date have no application to the Group. AASB Amendment 2004 3

2005 1 2005 2 2005 4 2005 9 2006 1

AASB Standard Affected AASB 1: First-time Adoption of AIFRS AASB 101: Presentation of Financial Statements AASB 124: Related Party Disclosures AASB 139: Financial Instruments: Recognition and Measurement AASB 1023: General Insurance Contracts AASB 139: Financial Instruments: Recognition and Measurement AASB 132: Financial Instruments: Disclosure and Presentation AASB 4: Insurance Contracts AASB 1023: General Insurance Contracts AASB 121: The Effects of Changes in Foreign Exchange Rates New Standard AASB 119: Employee Benefits: December 2004

St Vincent de Paul Society Victoria Inc. ABN: 28 911 702 061 RN: A0042727Y

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2006 Note

24 ECONOMIC DEPENDENCY A significant portion of the subsidiary's revenue is provided by the Commonwealth and State Governments in the form of grants and subsidies.

Note

25 ASSOCIATION & COMPANY DETAILS (a) The registered office of the Association is: St Vincent de Paul Society Victoria Inc. 43 - 45 Prospect Street Box Hill Victoria 3128 (b) The principal place of business is: St Vincent de Paul Society Victoria Inc. 43 - 45 Prospect Street Box Hill Victoria 3128