2000-2001
 |
overview |
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mission centres |
|
volunteering |
|
superintendent's report |
|
care services |
|
community services |
|
pastoral services |
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corporate services |
|
triple bottom line reporting |
|
financial summaries |
|
major donors |
Financial Commentary
Wesley Mission continues to grow in almost every aspect of its work. This has been enabled by strong annual financial performances and a strengthening balance sheet. Total revenue has increased this year by 14.4 percent to $109.1 million. Over the past five years revenue has grown by $49 million or 82 percent. Our net assets have increased over the same period by $ 22 million or 18.3 percent.
Over 50 percent of revenue is raised by Wesley Mission from its own effort through fees, legacies and fundraising. The personal nature of our work means that 60 percent of total expenditure is represented as salaries and wages. Administration expenditure has been limited to 6.4 percent of total operating expenditure. This is significantly lower than comparable organisations.
Group Consolidated Statement of Financial Position
Year ended 30/6/01
|
2001 |
2000 |
|
Current assets |
||
| Cash | 6,542 | 2,180 |
| Receivables | 7,426 | 7,543 |
| Other Financial Assets | 8,515 | 7,138 |
| Inventories | 904 | 868 |
|
Total current assets |
23,387 | 17,729 |
Non-current assets |
||
| Property, plant and equipment | 237,830 | 233,629 |
| Receivables | 5,750 | 5,752 |
| Intangibles | 4,728 | 4,990 |
| Total non-current assets | 248,308 | 244,371 |
| Total assets | 271,695 | 262,100 |
Current liabilities |
||
| Payables | 3,239 | 6,177 |
| Interest bearing liabilities | 1,784 | 2,175 |
| Provisions | 4,786 | 3,809 |
| Other liabilities | 12,644 | 13,872 |
| Total current liabilities | 22,453 | 26,033 |
Non-current liabilities |
||
| Other Liabilities | 71,940 | 56,599 |
| Interest Bearing Liabilities | 3,900 | 4,500 |
| Unearned Income | 26,333 | 26,628 |
| Provisions | 2,220 | 2,162 |
| Total non-current liabilities | 104,393 | 89,889 |
| Total liabilities | 126,846 | 115,922 |
| Net assets | 144,849 | 146,178 |
Equity |
||
| Accumulated funds | 43,621 | 44,834 |
| Reserves | 101,228 | 101,344 |
| Total equity | 144,849 | 146,178 |
Group Consolidated Statement of Financial Performance
Year ended 30/6/01
Summary by Activity
| Activity | Income | Expenses | Net |
| $,000 | $,000 | $,000 | |
| Parish | 1,652 | 1,845 | (193) |
| Aged Care Services | 17,793 | 16,137 | 1,656 |
| Child & Family | 6,431 | 6,786 | (355) |
| Homeless Persons | 2,757 | 2,505 | 252 |
| Disability Services | 8,244 | 7,758 | 486 |
| Employment Services | 29,988 | 25,505 | 4,483 |
| Hospitals | 23,993 | 21,126 | 2,867 |
| Conference Centres | 4,611 | 5,350 | (739) |
| Counselling Services | 2,738 | 3,067 | (329) |
| Business Activities | 2,930 | 3,159 | (229) |
| Education (Wesley Institute) | 1,062 | 1,907 | (845) |
| Communications | 1,600 | 1,800 | (200) |
| Administration & Other Activities | 441 | 7,039 | (6,598) |
| Discretionary Funds / Reserves | 2,502 | 2,601 | (99) |
| Sale of non-current assets | 2,346 | 2,739 | (393) |
| Total | 109,087 | 109,324 | (236) |
Net Assets 1978-2001
Group Consolidated Statement of Financial Performance
Year ended 30/6/01
Summary by category
| Category |
2001 $,000 |
2000 $,000 |
Operating Revenue |
||
| Revenue from Sale of Goods | 3,985 | 4,587 |
| Revenue from Rendering of Services | 37,394 | 32,992 |
| Government Subsidies and Grants | 52,853 | 36,647 |
| Donations and Offerings | 6,286 | 5,116 |
| Legacies | 1,425 | 4,429 |
| Other Revenues from Ordinary Activities | 6,849 | 11,612 |
| Amortisation of Yearly Premium of Lease | 295 | 0 |
| Total Revenue | 109,087 | 95,383 |
| Employee Expenses | 65,321 | 53,547 |
| Depreciation and Amortisation | 5,817 | 3,374 |
| Borrowing Costs | 1,249 | 1,339 |
| Property and Accommodation | 12,770 | 9,719 |
| Other Expenses | 24,166 | 25,034 |
| Total Expenditure | 109,323 | 93,013 |
|
Operating (Deficit)/Surplus |
(236) |
2,370 |
| Movement in Asset Revaluation Reserve | (1,093) | 0 |
| Total change in Equity | (1,329) | 2,370 |
