Celebrating 91 years of community service
CONTENTS FROM THE CHAIRMAN
YOORALLA’S NEW STRATEGIC PLAN
THE YOORALLA STORY PG 2
FROM THE CHAIRMAN PG 3
2009 was a year of many changes for Yooralla. With a new CEO at the helm the
FROM THE CEO PG 3 Board and Executive Team worked on Yooralla’s next four year strategic plan, and
THROUGH THE LENS: PG 4 produced new vision, mission and value statements for the organisation. The
A PHOTOGRAPHIC ESSAY OF YOORALLA consultations with clients, staff, the disability sector and government were rich and
have resulted in ﬁve strategic priorities to focus on over the next four years.
YOORALLA’S STRATEGIC PLAN PG 6
NATIONAL DISABILITY INSURANCE SCHEME PG 7 Yooralla’s vision, mission, values and strategic priorities have been updated to be
aspirational, whilst also being measurable, attainable, timely and based on shared
YEAR IN REVIEW PG 8 values.
INTRODUCING...NIAMH SCALLY PG 10
One of the challenges for the future is to build community and government support for a national disability
INTRODUCING...ANOO BHOPTI PG 11 insurance scheme, whereby all people in Australia who are born with or acquire a disability, would receive
FINANCIAL REPORT PG 12 appropriate levels of care and support, based on their needs. It would enable Yooralla’s new vision: ‘A fair
go for all people with disabilities’ to become a reality. Yooralla will therefore continue to take a leading role
DIRECTORS’ REPORT PG 14
in support of this transformational idea and it is very encouraging that the momentum in support of this
CORPORATE GOVERNANCE PG 16 idea is building steadily.
CELEBRATING 91 YEARS OF COMMUNITY SERVICE PG 20
I am privileged to work with a skilled and dedicated Board to govern Yooralla’s work, and I thank them for
NOTES PG 28 their dedication. Further details on Yooralla’s corporate governance and audited ﬁnancial accounts are
DIRECTORS’ DECLARATION PG 41 contained in this report.
AUDITOR’S REPORT PG 42
2 Bruce Bonyhady 3
THE YOORALLA STORY Chairman
In 1918, Evangeline Ireland (Sister Faith) found a severely Yooralla helps around 30,000 Victorians with disabilities
disabled child languishing under a chicken coop, left every year, many on a daily basis. FROM THE CEO
to fend for herself while her parents worked. Like many
parents of the time, they had no access to welfare or any Yooralla offers pre-school, school-aged and adult
of the support services that we take for granted today. therapy services including nursing, speech pathology,
A step closer to the moon (Michelle from Melton).
occupational therapy and education therapy.
Miss Ireland was so distressed that she established a free It is now twelve months since I was appointed CEO of Yooralla. And what a year it
kindergarten in inner-suburban Melbourne for children The Service also provides opportunities for people with
was! We have attempted to describe some of the achievements in the pages of this
with disabilities. The kindergarten was named ‘Yooralla’ - a disability to access residential accommodation, in-
report, and I invite you to follow the journey with us here.
an Aboriginal word meaning “place of love”. and out-of-home respite, attendant care or alternative
care for children with a disability, equipment, advocacy, Yooralla provides services to thousands of people in Victoria and I visited almost every
Because of Miss Ireland’s determination and vision, many employment and recreation services. service centre this year. The visits provided me with terriﬁc insight into the unique
thousands of children and adults with disabilities and their goals, wants and aspirations people with disabilities have. Site visits inspire me.
carers have since received valuable therapy, training and Yooralla’s success is driven by a remarkably diverse
Recently I was in Melton where a staff member described the experience of seeing
support. community of professional and support staff and
clients gain new skills and conﬁdence in life as being ‘a step closer to the moon’. An appropriate comment, as
volunteers, dedicated to empowering people to achieve
it is 40 years this year since the ﬁrst moon landing!
Yooralla is one of Victoria’s oldest, largest and most their potential.
trusted non-proﬁt community service providers. It assists I would like to say thank you to Bryan Woodford for growing such a ﬁne and dedicated organisation. I would
people who live with a disability acquired from birth, and Dame Elisabeth Murdoch AC, DBE a long-standing
also like to thank two long standing members of the Executive, Marsha Sheridan (deputy CEO) and Noel
an increasing number whose disability is the result of road supporter of Yooralla and Patron of the Yooralla Media
Bryant (General Manager Corporate Services) who we farewelled this year. I acknowledge the valuable
or recreational accidents, drug or alcohol abuse, illness or Awards, said that “change will only come about through
contributions made by Bryan, Marsha and Noel to the growth and development of Yooralla over the years.
ageing. It supports them with everyday things like eating, afﬁrmative action.”
I also want to thank all employees who make this organisation what it is.
moving about, talking, showering, working and living
This has been Yooralla’s ethos since 1918.
Design & Printed by: Sands Print Group CEO
Photography: Stuart Milligan & Elisabeth Jane Photography
THROUGH THE LENS:
A PHOTOGRAPHIC ESSAY OF YOORALLA
Yooralla is a word that has come to mean excellence in
the provision of care to people with a disability.
It started 90 years ago as a free kindergarten; a small,
almost non-descript place for children described as
“physical weaklings”. Today, it embraces a remarkably
varied and allied range of services employing more than
1,500 specialists, administrative and support staff who
work alongside a selﬂess volunteer ‘army’.
Its size and success, borne out by a growth in services,
clients and its role as a leading industry advocate, has
been distilled into a simple word: Yooralla.
But herein lies a dilemma: if Yooralla has come to
represent the empowerment of people with a disability,
how do we explain in detail what Yooralla is today? A
simple, yet powerful word has, by default, masked the
inner workings of an organisation employing world’s
best practice to achieve a single aim: dignity for every
man, woman and child with a disability.
Our response was to invite the Herald Sun’s Stuart
4 Milligan, an award-winning photographer, to spend a 5
day at some of our facilities, meeting clients and staff
and observing our programs. The result is a visual
essay that we hope captures the warmth, humour and
humanity of the people who comprise the Yooralla
Yooralla’s Strategic Plan NATIONAL DISABILITY INSURANCE SCHEME
2009-2013 YOORALLA IS CHAMPIONING THE CALL FOR A
NATIONAL DISABILITY INSURANCE SCHEME
There are nearly 90 Yooralla facilities in Victoria.
At every one of them Yooralla aims to provide the
equipment, home modiﬁcations and access to the
community, education and training.
The deﬁning criteria would be needs, as
determined by clear eligibility criteria, which would
best quality services. include measures of physical, intellectual and
Our vision Our values
Yooralla staff often have to juggle insufﬁcient
resources, notwithstanding efforts to raise The principal beneﬁciaries would be those
A fair go for all people Steadfast
We leave no stone unturned to ensure that
additional funds through fund raising, bequests
and rafﬂes, and frequently working unpaid
Australians with profound and severe disabilities,
while people with more moderate disabilities could
with disabilities. everyone has an equal opportunity to succeed overtime. also be eligible for assistance based on their lesser
in achieving the outcomes they desire. Wheelchairs need replacing now, not after
waiting in long queues. Children need more early Families would be nurtured and supported in their
intervention. Clients’ needs increase as they age. caring roles.
We are knowledgeable, agile and innovative, Families need respite. Ageing carers want to know
thriving on partnerships to create positive change. that their son or daughter will be well cared for A NDIS would be more efﬁcient, give choices and
allow people with disabilities and their families to
To actively support people with disabilities, their Courageous before they die.
families and carers, in all their diversity, to live the We speak up, face challenges, act with integrity Many people with disabilities feel shut out,
life they choose. and create possibilities. notwithstanding the State Disability Plan’s lofty A NDIS would give peace of mind to all
aims. Australians, because disability can and does strike
anyone at any time.
Yooralla’s approach Our strategic priorities This is a disgrace.
It’s therefore time to move away from the current
However, a National Disability Insurance Scheme
will only become a central plank of Australia’s
6 We believe The future has never contained more possibilities welfare-based and crisis-driven approach to social and economic policy framework if it has 7
In everyone having a fair go and challenges.
providing services for people with disabilities. many champions.
In a world that celebrates diversity Yooralla is operating in a fast changing and ﬂuid
In participation for everyone environment driven by changing community expectations, It’s time to make services for people with We need you to become a champion for change.
In people being in control of their own lives emerging government policies, signiﬁcant resource shifts disabilities and their families effective, equitable
That family and friends are important and complex compliance requirements. Yooralla is therefore Ask your family and friends to sign the petition,
In life long learning embracing new ways of working, radical innovation and write to or visit your local MP, and spread the word!
seeking to be more agile.
We work A National Disability Insurance Scheme (NDIS)
The aspirations of our employees are changing and there would do this. The Scheme would provide GO TO www.ndis.org.au NOW for further details.
Courageously is a growing workforce shortage. To meet these challenges,
Alongside people Yooralla will invest in workforce development funding for essential care, support, therapy, aids,
In partnership with government and others and technology.
Resourcefully Yooralla’s Strategic Plan 2009 to 2013 sets the Strategic
To use funding responsibly priorities for the next four years. Annually, the Strategic
Plan will be supported by a business plan which will guide
the key activities for Yooralla for that year.
High quality services and supports
Flexibility to meet individual needs Priority 1 Priority 4
Support to people with mild to complex needs Leadership Collaboration
Support to families and informal networks Creating strategy and Building community
thought leadership to capacity and expanding
We challenge inﬂuence the future our sphere of inﬂuence to
Current ways to anticipate the future achieve better outcomes
Barriers Priority 2
Attitudes of intolerance Empowerment Priority 5
Ourselves to be relevant Empowering decision making Capability
by individuals, families, Ensuring our organisation’s
We celebrate carers and employees long term future
New ways of thinking
Working in uncharted territory Priority 3
Leaving no stone unturned Quality and Growth
The achievements of people with disabilities Achieving on-going
and our staff organisational growth and
Success development of support
options, revenue, quality
YEAR IN REVIEW Yooralla staff and clients worked to do their part for people affected by the bushﬁres.
Several lost their homes and possessions and many others volunteered their time and skills
to fundraise or help out in the weeks that followed.
T Learning and Development team began training employees with managerial
responsibilities on the new performance support and development system. This system
measures performance based on behaviours that demonstrate Yooralla’s values as well as key accountabilities.
The Independent Living Centre in Brooklyn played host to the launch of
the Department of Human Services’ Vehicle Modiﬁcation Subsidy Scheme, Yooralla chaired the Inter Agency Group, a panel of senior managers in the disability sector. It conducted a
a subsidy of up to $10,000 to assist people with a disability who require price review of disability service provision in Victoria. The review provided substantive and credible evidence of
modiﬁcations to drive or travel as a passenger in a vehicle. underfunding, which will be used in future funding negotiations.
While many businesses were suffering the effects of the global ﬁnancial crisis, Dual
After 11 years of exemplary service, Bryan Woodford retired from Yooralla, leaving the Ware in Melbourne and Mooroopna showed their business mettle by diversifying,
organization stronger and more ﬁnancially secure. Under his tenure Yooralla’s revenues
o renovating, building skills and securing new contracts. These proactive strategies not
grew, service quality improved and strong partnerships within the sector were established.
g only provided sustainable work for the supported employees but they also offered
opportunities to increase skills and grow the business in the longer term.
The OHS team started work on Yooralla’s ﬁrst 4 year OHS Strategic Plan, which aims to
September: deliver measurable improvement in all areas of Yooralla’s occupational health and safety performance.
Sanjib Roy joined Yooralla. Many challenges lay ahead of him including implementation of key
Consultation on the strategic plan gathered pace after meetings were held with several key members of the disability
aspects of the Victorian Disability Plan and the development of Yooralla’s 2010 – 2013 Strategic Plan.
sector including; Lisa Neville, Minister for Community Services; Fran Thorn, Secretary of DHS; and Arthur Rogers,
Executive Director of Disability Services with DHS.
T Early Childhood Intervention Centre at Altona North was the ﬁrst service for children with a April:
disability to be awarded the ‘Kids Go for your Life’ award. It recognized the kinder for leading
The early childhood intervention building at Narre Warren had a $430,000 revamp to create a one-stop
t way in promoting physical activity and healthy eating in the daily life of its students.
shop for children with a disability living in the local area. The renovations were ofﬁcially opened by
Victorian Minister for Children and Early Childhood Development, Maxine Morand, and have created
an additional multi-purpose playroom.
November: The People and Culture department were busy setting out the framework for the change management
Four new Xmas cards were unveiled. Artwork was produced by children from Belmore school and toolkit, a series of guidelines and checklists so that when signiﬁcant changes occur within Yooralla a uniform and
other adult clients, and the collation, packaging and distribution was carried out by clients of the strategic approach is taken to ensure a successful outcome. The toolkit, which covers changes in service provision, technology
Busy Bees program. All monies raised were used for art programs within Yooralla. and infrastructure, was then adopted by National Disability Services to be used as a template for the rest of the disability sector.
Initial planning and development of Yooralla’s 2010 – 2013 Strategic Plan began in earnest.
Consultants, Chris Fyffe and Jeff McCubbery were commissioned to provide a report which
formed the basis for the plan’s development and direction. May:
Although Yooralla had been preparing for a pandemic for several years, the organization really
swung into action once the number of reported cases began to rise. The Pandemic plan and
regular infection control measures were published on the website which proved so successful
December: that Yooralla’s strategy was used as a model by other services providers all over Australia.
Uri Rosenberg retired from Dual Ware in Footscray where he worked as a supported
employee in a variety of light assembly and packaging tasks. In the latter years it was also
Uri’s job to handle the mail delivery between Footscray and Head Ofﬁce in Flinders Street.
Consultation sessions with a broad range of staff, clients, carers and families began to June:
harness attitudes and ideas for the future of Yooralla and the Strategic Plan. After months of lobbying by Yooralla and others, a breakthrough was made for people with a disability
in regards to the new myki ticketing system. People with restricted arm movement and some cognitive
disabilities will be entitled to free travel when the myki card is introduced. This will ensure that people are
not penalized unfair for their inability to scan their cards at the beginning and end of their journeys.
“Making Pathways”, a new mentoring program for young people with a disability After an extensive consultation process the ﬁnishing touches were added to the 2010 – 2013 Strategic Plan which will shape
in the Central Gippsland area was launched. The program matches young Yooralla’s strategic priorities for the next four years. Annually, the plan will be supported by a business strategy which will
people with local community volunteers who have skills in the areas they want to guide Yooralla’s key activities for that year.
move into. The mentors offer positive role models for the young people as they
Consultation and development of Yooralla’s new organizational structure was completed and rolled out ready for
grow up and start to look for support and advice as they pursue their dreams.
implementation to support the 2010 – 2013 Strategic Plan.
INTRODUCING...NIAMH SCALLY INTRODUCING...ANOO BHOPTI
The service that I use is My most treasured possession is … my brain. The service that I work What I don’t ﬁnd amusing is … that children of our world
… Pathﬁnder South. in is … Yooralla ECIS still die of hunger and people throw away food!
To relax I … listen to music, daydream, sit in the sunshine
and Research and
I began using a Yooralla and practice progressive muscle relaxation. If I were Prime Minister I would … never ever be a Prime
service in … 2007. Minister because I’m too much of a dreamer and dreams
What I don’t ﬁnd amusing is … doing crosswords.
I began working for change when you get power!
My ﬁrst impressions of
If I were Prime Minister I would … make life fair for all. Yooralla in … 1999.
Yooralla were … that In the movie of my life I would be played by … anyone
It’s all about opportunities; if you don’t succeed in life
they want you to get the My ﬁrst impressions of who knows me.
you can usually give a reason why. However, if you don’t
most out of life. Yooralla were … this
succeed because you haven’t been given the opportunity ‘I had a dream’ that I … saw all children had food to eat
might work for me as it
The biggest problem to try it’s just unacceptable. in this hugely evolved human race.
reminds me of Spastics
I encounter on a daily
In the movie of my life I would be played by … I think Society of India (my On a typical day my life is … crazy, chaotic, lots of
basis is … deciding what
either myself or I would want Natalie Bassingthwaighte to previous workplace in thinking, changing hats and full of fun!
to wear. I have so many
portray me. India) and had a similar
clothes that last year my The 5 people I would invite to a dinner party are … my
buzz to it and looked
wardrobe collapsed. ‘I had a dream’ that I … was on a stage performing which 2 sisters, mum, dad and my brother! We would rock the
is my dream. I used to put on little shows for my family. night! And eat our favourite food which I hope my mum
It’s not fashionable but I love … wearing my big baggy
The biggest problem I encounter on a daily basis is … would cook!
trackies when I’m not going out anywhere and sitting in On a typical day my life is … organised chaos.
what to wear every morning.
the armchair watching movies while eating junk food. If money was no object I would … eradicate poverty ﬁrst
The 5 people I would invite to a dinner party are …
It’s not fashionable but I love… “Love” in its traditional and then buy all the shoes that I love!
Having a disability allows me to … get away with murder Natalie Bassingthwaighte, Carl Barron, Steady Eddie,
(does the evil laugh muwahahaha). No seriously, I believe Rove McManus and Ellen DeGeneres. I am always being asked … So, where do you come from?
that my disability has made me a stronger person and Working with people who have a disability allows me to You speak good English!
If money was no object I would … build a wheelchair
having to rely on people to assist me to do the most basic … follow my passion everyday.
10 accessible house for myself and my family. The last time I witnessed discrimination because of a 11
things has ultimately increased my patience.
The hardest thing I’ve ever done was … migrated to disability was … when my friend’s son who has some
I am always being asked … how I drive my wheelchair.
The hardest thing I’ve ever done was … transfer at age Australia. issues with motor coordination and behaviour was always
17 from a special school with a physical therapy focus to The last time I experienced discrimination because of my missing out on party invitations due to a fear that he may
My happiest moment in life recently was … every
a mainstream High School with an academic curriculum. disability was … making a new ‘chat buddy’ online who I break the beautiful decorative pieces in people’s houses.
moment when I feel overwhelmed and humbled!
Going straight into Year 10 was really tough having no real really clicked with but then disappeared when they found
I think the most challenging thing for a person with a
academic foundation to build on. VCE is hard enough out I had a disability. Also being the victim of bullying I don’t like talking about …pessimism.
disability is … people’s attitude regarding people with
when you don’t have physical restrictions however when online by people who use my disability as a cheap shot to
My parents always told me to … stand tall and keep your disabilities deserving less because there is not enough for
you don’t have the use of your hands it’s that much more insult me and bring me down.
head high when you are poor and bow down when you the able, so ….
I think the most challenging thing for a person with a get rich
Anoo Bhopti is a Research and Development Clinician
My happiest moment in life recently was … when my two disability is … having to accept that they might not be
My most treasured possession is … my family. based at Heatherton and Tarlina Early Childhood
sisters and I went to see Beyonce. That girl knows how to able to be as independent as they would like to be.
put on a show, it was incredible To relax I … listen to music, sink on my huge leather
Niamh Scally is a client of Yooralla’s Pathﬁnder Service
lounger and make phone calls to loved ones!
I don’t like talking about … limitations – I prefer to focus in Cranbourne. She is a talented writer and is planning
my energy on what I can achieve and do it well. to launch a community magazine next year. Niamh has
My parents always told me … “Be the best that you can
FINANCIAL REPORT 13%
Yooralla reported an operating deﬁcit of $583,087 in the year ended 30 June 2009. This result follows Who Beneﬁts from Yooralla’s Expenditure for 11%
a deﬁcit of $504,752 in the previous ﬁnancial year. The net surplus for the year ended 30 June 2009 the Year Ended 30 June 2009 (Total $76.8m)
was $1,455,674 following a surplus of $3,055,042 in the 2008 ﬁnancial year. The decrease in net surplus
is attributable to the recognition in this ﬁnancial year of an unrealised impairment loss from managed ● Residential and Individualised Support Services
funds. Total operating revenues rose by 8.3% to $76.2 million. Expenditure incurred during the year ● Community & Independence Services
increased by 8.3% to $76.8 million. ● EI and Children Services
● Business & Employment Services 20%
Financial highlights for the 2008/09 year include: 56%
a) Government funding increased by 9% to $52.4 million. This reﬂects general growth across all
b) Government capital funding increased to $2.6 million from $2.2 million in 2007/08.
c) Income from equip increased by 13% over last year to $6.5 million. This was due to performance in
As always, Yooralla recognises and greatly appreciates the ongoing funding support of the Victorian Department
the contract with the Department of Veteran Affairs exceeding budget.
of Human Services and the Commonwealth Department of Families, Housing, Community Services and Indigenous
d) Income for speciﬁc purpose projects (mainly from government) increased by 18% to $3.9 million Affairs. In total, Government contributed $54.9 million to the overall operating costs of $76.8 million.
e) Sales Income from Dualware Business Services increased by 35% to $1.6 million.
Millions Yooralla Revenue Sources
f) Income from Fundraising activities increased by 6% to $3.8 million.Presented below are three graphs
for the 2008/09 Year. The percentage splits in these graphs are consistent with the 2007/08 year: $90,000,000
Presented below are three graphs for the 2008/09 Year. The percentage splits in these graphs are $70,000,000
consistent with the 2007/08 year:
• The ﬁrst shows where Yooralla’s revenue is sourced. ● Revenue from
• The second shows in what expenditure categories Yooralla spent its revenue. Other sources
• The third shows who beneﬁts from how Yooralla spent its revenue. $30,000,000
● Revenue from
12 $20,000,000 13
June 2005 June 2006 June 2007 June 2008 June 2009
6% Yooralla spent $5.1 million on capital projects in the 2008/09 year. There was a major property purchase for a new
residential service at Altona, as well as building works for a residential service at Watsonia and the rebuild of an Early
Where Yooralla sourced its Revenue for the 8%
Intervention Centre at Narre Warren. In addition to these property purchases and works, Yooralla also spent $1.9
Year Ended 30 June 2009 (Total $80.1m) million on upgrades of its vehicle ﬂeet. Yooralla funded $1.9m of this from its own reserves, the rest being funded
● Government Grants - Operating 10% from government, special grants and proceeds from the sale of assets.
● Government Grants - Capital
Yooralla’s Board and management team continue to monitor and plan for the capital requirements of Yooralla’s
● Business Services / Equip. 4% services. We will continue to seek government and other sources of capital funding to assist with meeting the
● Client Fees & Charges
capital needs of our services and maintain our high quality standards. In particular the replacement of an ageing
● Fundraising, donations, bequests & trusts.
69% ﬂeet of vans (client transport) is of high importance.
● Investment Returns
The results for the past year for Yooralla were very dependent on the generosity of the public in the form of annual
donations, bequests and trusts. On behalf of the clients of Yooralla, we therefore wish to thank all our ﬁnancial
supporters. It is only with these additional revenues that Yooralla is able to ensure the continuation of its services
across Victoria and maintain the ﬁnancial strength of the organisation.
What Yooralla spent its revenue on for the 1% 8%
Year Ended 30 June 2009 (Total $76.8m) 3%
● Employee Wages & Agency Expenses 1%
● Discretionary Exp. - Clients & Carers 7%
● Cost of goods sold - Business Services/Equip.
● Motor Vehicles John Yeoman
● Occupancy Chairman – Audit & Property Committee
● Depreciation & Amortisation 12th October 2009
● Food Supplies Expense
● Other 70%
Your Directors submit their report for the year ended 30 June 2009. Principal Activities Signiﬁcant Events or changes in affairs after balance date
The company’s principal activities for the year were: No matters or circumstances have arisen since the end
• Residential and carer support for people with of the ﬁnancial year that have signiﬁcantly affected, or
The names and the details of the members of the Board at 30 June 2009 are set out elsewhere in this report. may signiﬁcantly affect, Yooralla’s operations, the result of
those operations or Yooralla’s state of affairs.
Corporate Information • Community and Independence services
Corporate Structure • Children’s school and early intervention services Directors Beneﬁts
Yooralla is a company limited by guarantee and the liability of members of Yooralla is limited to $50 each. The principal • Recreation services No non-executive director of Yooralla has received or
activities of Yooralla are to provide services for people with disabilities in the State of Victoria. Yooralla’s range of became entitled to receive a beneﬁt by reason of a
• Adult day program services
essential services includes therapy, accommodation, respite, equipment, employment, recreation and help in and out contract made by Yooralla with a director, with a ﬁrm of
of the home. • Supported employment services
which a director is a member, or with a company in which
• Equip – equipment services a director has a substantial ﬁnancial interest.
• Raising of funds for these activities through
government grants, fee for service and fundraising. Directors’ Meetings
During the year the number of meetings held and
attended by the Board of Directors and the Board’s
Learning, Information, Individualised Infrastructure
Committees were as follows:
Financial Services People and Culture
Family & Technology Support Services & Development
Directors Committee Meetings
Children and Family Supported Information Learning &
Services Accommodation Technology & Development
Full Board Audit & Property Quality & Risk Investment
Number of meetings held 11 4 5 4
Corporate Recreation Industrial and
Accounting Services Employment Relations
Quality & Risk Number of meetings attended
14 Community Learning Positive Emily Adams 9 2 15
& Living Behaviour Support Systems and
Services Physical Resources Bruce Bonyhady 10 4 5 4
Employment Information Recruitment & Elizabeth Corbett 6
Services Planning & Employment
Case Management Peter Langkamp (1) 8/9 1/1
Dinah Reddihough AO 11 5
Amanda Robertson 9 2
Sanjib Roy (1) 9/9 4 4/4 3/3
e.quip and A&EP
ECDS Phillip Slater 9 5 4
Bryan Woodford (2) 2/2 1/1 0/1
Assistive Technology John Yeoman 8 4
(1) appointed 25 September, 2008
(2) resigned 28 August, 2008
Auditors’ Independence and Non-Audit Services On behalf of the Board
Yooralla employed 1,477 employees as at 30 June 2009 (2008: 1,380 employees).
The directors received a declaration from the auditor of Signed in accordance with a resolution of the Directors.
Review of Operations and Results Yooralla which is included with the Independent Audit
Report on pages 42 to 43.
The operating deﬁcit for the 2009 ﬁnancial year was $583,087 (2008: $504,752). After allowing for revenue from
capital grants and bequests and impairment of investments, the net surplus was $1,455,674 (2008: $3,055,042). The entity’s auditor, Ernst & Young, provided the following
non-audit services. The directors are satisﬁed that the
Total revenues increased by $6.1m. This increase can be attributed to a $6.0m increase in revenues from operating
provision of non-audit services is compatible with the Bruce Bonyhady
activities and a $0.5m increase in revenue from government capital grants. These increases were offset by decreases
general standard of independence for auditors imposed Chairman
in investment revenues of $0.2m and revenues from bequests and trusts of $0.2m.
by the Corporations Act. The nature and scope of each 12th October 2009
The increase in revenues from operating activities can be attributed to an increase in government grants revenue type of non-audit service provided means that auditor
of $3.9m. There was also an increase in the sale of goods of $1.2 m and speciﬁc purpose grants revenue grew by independence was not compromised.
$0.6m. A $5.9m increase in total operating expenses is in line with increased activity within Yooralla’s services.
Ernst & Young received or is due to receive the following
amounts for provision of non-audit services: Other
The Board of Directors of Yooralla is responsible for • The Board meets in accordance with the Constitution and privacy. It monitors client and staff satisfaction and The members of the investment committee during
corporate governance of the organisation. The Board and its directions and follows meeting guidelines set policies and procedures such as emergency procedures. the year were Mr Phillip Slater (Chairman), Mr Bruce
guides and monitors the business and affairs of Yooralla down to ensure all directors are made aware of, and The Committee’s function is predominately one of Bonyhady, Mr Richard Greenﬁeld (co-opted member),
to ensure that it achieves its Objects, as set out in the have available all necessary information, to participate governance to satisfy itself that Yooralla has appropriate Dr Steven Vaughan (co-opted member) and Mr Sanjib
Constitution, and acts on behalf of its members by whom in an informed discussion of all agenda items. quality frameworks, procedures and policies in place Roy (attends ex-ofﬁcio).
it is elected and to whom it is accountable. and that those processes are monitored and audited
Details of the members of the Board of Yooralla during and appropriate remedial action taken when and where Board’s Compensation
The Board sets the policies, strategic direction and the ﬁnancial year are set out elsewhere in this Annual necessary. Yooralla’s quality standards are audited by SAI A non-executive director must not be paid by Yooralla
annual budget of Yooralla. It decides what services Report. Global who report to Yooralla’s senior management and for his or her work as a director or for services to people
and programs are to be provided and supported. The to the Quality & Risk Committee. with disabilities. He or she is only paid for his or her
Chief Executive, appointed by and accountable to the Codes of Conduct
out of pocket expenses. Subject to section 241 of the
Board, is responsible for the day to day operations and Codes of Conduct have been developed to establish the The members of the committee during the year were Prof Corporations Act, Yooralla must indemnify every director
administration of Yooralla. professional standards of behaviour required of directors, Dinah Reddihough (Chairperson), Mr Bruce Bonyhady, or other ofﬁcer of Yooralla against all liabilities which he or
management and staff in the conduct of Yooralla’s affairs. Mr Phillip Slater, Dr Peter Langkamp and Mr Sanjib Roy she may take upon himself or herself as agent for Yooralla
The Board aims to ensure it discharges its responsibilities In particular, the staff Code seeks to provide guidance to (attends ex-ofﬁcio). or for the beneﬁt or intended beneﬁt of Yooralla. However,
in an appropriate manner and it has established a Board staff to assist them to act with conﬁdence and integrity Yooralla will not be required to provide an indemnity if the
Charter and Policies to guide its actions. in their interpersonal relationships with consumers, Investment Committee - This Committee provides advice
director or ofﬁcer was acting outside the scope of his or
consumers’ family members, carers and advocates. The and recommendations to the Board on all investment
The Board ensures that the members are informed and her authority pursuant to the Corporations Act.
Codes are periodically reviewed and updated as required. matters. The Committee regularly reviews the investment
the information is communicated through: policies and strategy of Yooralla and monitors the
• the annual report which is distributed to all members; Risk Management Framework performance of Yooralla’s investment managers. The
• the annual general meeting and such other meetings The Board ensures that a risk assessment process is Committee has co-opted two additional members, with
as may be called to obtain approval for Board action as regularly undertaken and that control and monitoring considerable experience in investment matters, to assist
required by the Constitution. processes are both in place and reviewed on a regular in its deliberations
basis. The Board is supported in this responsibility
Composition of the Board through its sub-committees and by the development
16 The composition of the Board is determined in and formalisation and policies and procedures at the 17
accordance with Yooralla’s Constitution: organisational and divisional levels.
• The Board must comprise between seven and ten
directors. The members can vote at a general meeting
to change the limits on the number of directors, The Board has established the following Committees to
however the limits cannot be lower than ﬁve nor greater assist it in carrying out its responsibilities:
than ﬁfteen. The Board can still act even if it has fewer
Audit & Property Committee - This Committee’s primary
directors than its lower limit. However, if it has fewer
purpose is to act in an advisory capacity to the Board
than ﬁve directors it cannot do anything other than
in relation to the company’s ﬁnancial and property
appoint more directors so that there are ﬁve in all.
policies and procedures and the framework of ﬁnancial
• A person can become a director by being elected internal controls. It provides the Board with assurance
by the members at an Annual General Meeting. At regarding the reliability of ﬁnancial information for
each Annual General Meeting, at least one third of inclusion in the ﬁnancial statements. It also provides
the Board (those on the Board for the longest time oversight of procedures and policies to ensure Yooralla’s
since last elected) must resign and having done so, are compliance with reporting requirements of Victorian
eligible to be re-elected. These rotation requirements and Commonwealth legislation and any Victorian or
do not include the Chief Executive Ofﬁcer. Commonwealth government body, department or
• At the ﬁrst Board meeting after each Annual General instrumentality under which Yooralla is or becomes
Meeting, the Board must elect a Chairman and a registered or funded.
The members of the Committee during the year were Mr
• The Board can appoint a member to ﬁll a vacancy
John Yeoman (Chairperson), Ms Emily Adams, Mr Bruce
on the Board. He or she will hold ofﬁce until the next
Bonyhady, Mrs Elizabeth Corbett, Ms Amanda Robertson
Annual General Meeting and will be eligible for re-
and Mr Sanjib Roy (attends ex-ofﬁcio).
election at that meeting.
• At any meeting of Yooralla, the members present in Quality & Risk Committee - The purpose of the
person or by proxy, who are entitled to vote, may, Committee is to have oversight of Yooralla’s compliance
by a majority vote, remove a director and appoint a and risk management with respect to quality in the areas
replacement. of Occupational Health and Safety, client safety and care
Left to right: Ass Prof Dinah Reddihough AO; John Yeoman; Peter Langkamp; Amanda Robertson; Bruce Bonyhady; Phillip Slater.
Seated: Sanjib Roy; Emily Adams. Absent: Elizabeth Corbett
INCOME STATEMENT BALANCE SHEET
YEAR ENDED 30 JUNE 2009 AS AT 30 JUNE 2009
NOTES 2009 $ 2008 $ NOTES 2009 $ 2008 $
Revenue CURRENT ASSETS
Revenues from operating activities 2 74,052,942 67,997,853 Cash Assets 14(b) 8,983,508 4,577,838
Revenue from investing activities 2 2,140,088 2,378,883 Receivables 4 1,978,833 2,205,386
Total Revenue from operating activities 76,193,030 70,376,736 Other Financial Assets 5 12,528,818 20,119,326
Inventories 6 83,277 72,322
Prepayments 285,838 189,707
Salaries, employee beneﬁts and staff agency expense 3 52,903,028 48,676,863
TOTAL CURRENT ASSETS 23,860,275 27,164,579
Discretionary expenditure for carers & clients 3 4,659,689 4,390,747
Motor Vehicle Expense 1,091,407 1,119,609 NON-CURRENT ASSETS
IT, Telecommunications & Postage expense 989,634 987,763 Property, Plant & Equipment 7 32,706,676 29,999,196
Food Supplies expense 1,047,840 897,894 TOTAL NON-CURRENT ASSETS 32,706,676 29,999,196
Printing, Stationery & Photocopying expense 706,202 589,310
TOTAL ASSETS 56,566,951 57,163,775
Rent, Insurance & Utilities expense 1,302,952 1,343,785
Repairs, maintenance and minor equipment expense 1,263,821 1,114,132
18 Payables 9 8,030,238 11,457,645 19
Raw materials and consumables used expense 3 356,581 241,914
Employee Entitlements 10 6,028,734 5,555,211
Cost of Equip supplies under contract 3 5,375,600 4,737,227
TOTAL CURRENT LIABILITIES 14,058,972 17,012,855
Depreciation and amortisation expenses 3 2,147,576 1,985,547
Other expenses from ordinary activities 4,931,789 4,796,696 NON-CURRENT LIABILITIES
Total expenses from operating activities 76,776,117 70,881,488 Employee Entitlements 10 967,966 776,124
TOTAL NON-CURRENT LIABILITIES 967,966 776,124
Operating (Deﬁcit) / Surplus for the period (583,087) (504,752)
TOTAL LIABILITIES 15,026,938 17,788,979
Revenue from capital grants 2 2,725,174 2,229,544
Revenue from bequests 2 1,158,019 1,330,250 NET ASSETS 41,540,013 39,374,796
Unrealised impairment (loss) from managed funds 3 (1,844,431) -
Net Surplus for the period 1,455,674 3,055,042
Special Trust Funds 11 1,414,287 1,354,148
(The above income statement is to be read in Unrealised gains/(losses) on available for sale investments 12 - (709,542)
conjunction with the accompanying notes).
Accumulated Surplus 13 40,125,726 38,730,190
TOTAL EQUITY 41,540,013 39,374,796
(The above balance sheet is to be read in
conjunction with the accompanying notes).
20 C E L E B R A T I N G 9 1 Y E A R S
OVER THE YEARS, YOORALLA’S Autism and Therapy Service Independent Living Centre It focuses on the use of assistive technology to help people In-home Respite SteppinOut: a specialised service for adults with intellectual
The Autism Service is a specialist therapy service for children We operate two ILCs – Brooklyn & Blackburn - which with disabilities become, or remain, independent in their In-home Respite is designed to provide home and community- disabilities. Activities include day trips, music therapy, art and
SERVICES HAVE EVOLVED AND daily lives. craft and the development of daily living skills.
with an autism spectrum disorder who are eligible for Federal provide information, advice and trial of assistive technology/ based respite to the primary carer(s) of a person with a disability.
EXPANDED IN CONSULTATION Government funding under the “Helping Children with independence equipment to enhance the quality of life for
Details: http://www.yooralla.com.au/ilced.php To meet the requirements of the person with disabilities and Pathﬁnder: offers planning and support for school leavers
WITH THOSE WHO USE THEM. Autism” program. people with disabilities.
who prefer to choose their own options for pre-vocational
their carer, the service can be utilised in a ﬂexible and responsive
Residential Services and/or adult service pathways. A tailored program can be
IT’S NOT POSSIBLE TO ADEQUATELY A team of occupational therapists, speech pathologists, Each ILC is staffed by occupational therapists and manner. It aims to provide the primary carer(s) with support,
psychologists, early childhood teachers and early childhood physiotherapists, with specialist knowledge in equipment and Yooralla offers a range of ﬂexible, supported accommodation allowing time for them either in or away from the home. This arranged to suit individual requirements.
REPRESENT ALL OF THE SERVICES assistants provide a range of ﬂexible, innovative and access. Visitors can trial many of the products on site, under options. Residential Services provide staffed accommodation service offers the advantage of minimising disruptions to family
for people with varying levels of support needs and with a Home and Community Approach: offers assistance for
HERE, HOWEVER THE FOLLOWING functional therapy support to clients with autism and their expert guidance, to determine which best suits their needs. members, especially the person with a disability.
older adults making the transition from Kew Residential to
support networks across Victoria. wide variety of abilities.
PROVIDES AN INSIGHT INTO THE Details: http://www.yooralla.com.au/ilc.php Details: http://www.yooralla.com.au/inhomerespite.php community homes. Clients in the program obtain support
SUPPORT WE DELIVER EVERY DAY Details: http://www.yooralla.com.au/aats.php Residential support is offered in houses and units throughout and training to access community facilities and develop skills
Equipment Library each of the metropolitan regions and rural Victoria. There is Breakaway Flexible Respite towards greater independence.
OF THE YEAR. Foster Care also overnight support available.
The library is a service of the ILC and provides hire of This service gives primary carers wider options to obtain
Eastern Region Communication Service.: Speech Pathology
Children and Family Services This program provides long-term support for children specialised equipment for children, families, carers and adults. meaningful support while providing a positive experience for
Details: http://www.yooralla.com.au/residential.php service based in the eastern region of Melbourne. It offers
Yooralla operates a range of services and supports for and young people with disabilities through family-based An extensive range of equipment can be hired for one month, the person with a disability.
training and skill development for people with complex
children aged from birth to six years. These include: placements. with a month’s extension subject to availability. Facility-based Respite
The options are endless and can assist families by providing communication needs. It also works at a community level
Carers can be single or in a couple, working or retired, with The type of equipment for hire or trial includes walking and This program gives carers of people with disabilities the funds for recreation, family holidays, holiday programs, to promote inclusion in local generic services to enhance
Early Childhood Intervention Services: providing
or without their own children. They are carefully selected and mobility aids, seating, wheelchairs, lifting equipment, transferring opportunity to take a break from their support role. This camps, and short-term in-home support. people’s independence and choice.
tailored therapy and educational support to children with
matched with the individual and provide full-time, part-time aids, transport equipment, and vocational aids and equipment. can be as a planned experience or in an emergency, with
developmental delay or disability, and support for families to Details: http://www.yooralla.com.au/dayservices.php
and respite care in the carer’s own home. respite stays ranging from one night through to an extended Holiday and Travel Service
access information and resources and develop their strengths.
Details: http://www.yooralla.com.au/equipmentlibrary.php period. Yooralla has three respite facilities (Box Hill, Glenroy Yooralla offers a dedicated service that arranges holidays Dual Ware Industries - Business Services
Inclusive Kindergarten Programs: three and four year old Funding is available to support the placement and to provide & Reservoir) that provide a home-like environment in modern for around 60 people with a disability each year, and ﬁelds
extra support that may be required including therapy, transport, ComTEC purpose built premises, fully wheelchair-accessible units with Yooralla has three supported workplaces that specialise in
groups operate from the Altona North Early Childhood a further 300 enquiries on accommodation, attendant care
equipment and building modiﬁcations where appropriate. ComTEC offers services throughout Victoria to people staff trained in the use of specialist equipment and attendant packaging, assembly, shrink wrapping, bundle wrapping,
Centre, Narre Warren Central Children’s Centre and The Patch options, equipment and transport. It takes into account
of all ages with a disability who have communication and support needs, speciﬁcally trained staff to provide support collating, bar-coding and associated services.
Early Learning Centre. Children beneﬁt from higher staff/ details like wheelchair access at resorts, where to recharge
Details: http://www.yooralla.com.au/familyoptions.php technology needs. The team includes speech pathologists, for people with high and/or complex personal support needs,
child ratios allowing them to participate at their own pace and wheelchairs ‘on the road’, and so on. Staff are trained to use the latest equipment and the most
C E L E B R A T I N G 9 1 Y E A R S O F C O M M U N I T Y S E R V I C E 24
families receive additional supports such as sibling groups occupational therapists and IT support with expertise in a place in which to meet and socialise with other people
and parent networks. communication and technology for people with disabilities. of similar age groups, and an enjoyable experience for the
person with a disability
Kindergarten Inclusion Support Services: children with a Services include individual advisory sessions, electronic
disability can attend, and participate in, their local community equipment library for short-term loan, individual training, and Details: http://www.yooralla.com.au/facilityrespite.phpns
kindergarten. It may include staff training or resources to technology open sessions for therapists.
Information, planning and case management
support the kindergarten group. Details: http://www.yooralla.com.au/comtec.php The service provides a range of creative and innovative
Details: http://www.yooralla.com.au/ecs.php planning and case management services to individuals, young
people and families to access customised supports and
School Services ILC.ed delivers education and training on assistive technology. funding.
Yooralla provides therapy, nursing and attendant care services As this technology becomes more complex, it’s necessary
to Special Schools in Balwyn and Glenroy, for children with a to provide up-to-date education and training for health
physical disability aged from ﬁve to 18 years of age. professionals, carers and other individuals and groups that
assist people with disabilities.
The focus is on supporting students to access the school
curriculum, to reach their maximum level of independence
and to support family and carers by helping them function as
independently as possible at home and in the community.
Occupational therapists, physiotherapists, speech Details: http://www.yooralla.com.au/breakaway.php
cost-effective processing methods. Each work place has
pathologists and nursing/attendant care staff have expertise
Day Services a committee of elected representatives who meet on a
in assisting children with signiﬁcant physical or speech and
regular basis to talk about issues facing them and to help
language difﬁculties. Parents are encouraged to participate in FirstBase: meets the needs of young adults with a disability,
the workplace better address their needs. These committees
goal setting and evaluation and to attend school programs. to make the transition to adulthood by developing skills and
ensure that Yooralla’s businesses continue to meet the needs
realising individual goals through specialised programs. The
Details: http://www.yooralla.com.au/school.php of people with disabilities.
program operates across Metropolitan Melbourne and South
Gippsland, in purpose built facilities. Details: http://www.yooralla.com.au/dualware.php
O F C O M M U N I T Y S E R V I C E 25
STATEMENT OF CASH FLOWS STATEMENT OF RECOGNISED
FOR THE YEAR ENDED 30 JUNE 2009 INCOME AND EXPENSES
FOR THE YEAR ENDED 30 JUNE 2009
NOTES 2009 $ 2008 $ NOTES 2009 $ 2008 $
CASH FLOWS FROM OPERATING ACTIVITIES Net Income recognised directly in equity
Receipts from Customers 15,148,421 13,689,831 Unrealised gains / (losses) on available for sale investments 12 (1,134,889) (1,354,478)
Payments to Suppliers and Employees (75,566,031) (67,748,517) Unrealised impairment of available for sale investments 1,844,431 -
Operating Government Grants 51,220,347 48,135,539 Surplus / (deﬁcit) for the period 1,455,674 3,055,042
Fund Raising 3,787,738 3,566,944
Total recognised income and expenses for the period 2,165,217 1,700,564
Grants for Special Purpose Projects 3,922,832 3,357,569
Goods and Services Tax Received 6,383,687 6,140,408
Goods and Services Tax Paid (6,655,383) (6,035,454)
Interest Received 1,017,202 1,073,350
NET CASH FLOWS FROM OPERATING ACTIVITIES 14 (a) (741,186) 2,179,671 YOORALLA’S RISK MANAGEMENT APPROACH
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of Property, Plant & Equipment (5,124,933) (3,669,214) Our risk management approach is inﬂuenced by and aligned to our
strategic plan. Our strategic priorities of empowerment, quality and
Proceeds from Sale of Property, Plant & Equipment 458,277 385,034
growth, collaboration, leadership and capability are necessarily reﬂected
26 Proceeds from / (Investments on) Managed Funds (1,000,859) (2,548,309) in Yooralla risk appetite. In other words the positive and challenging path 27
we have chosen is an indication of the risks we are willing to take and the
Proceeds from Sale of Shares in Public Companies 1,836,606 -
opportunities we seek to grasp.
Direct purchases of Shares in Public Companies (375,544) (203,176)
Our approach is fact based, involves identifying events that may impact
Dividends Received - Shares in Public Companies 384,122 508,685 our goals, evaluating of the likelihood and impacts of those events,
Proceeds from / (Investments on) Bank Bills 5,836,289 1,546,115 implementing mitigation strategies controls and ongoing monitoring.
Net Cash Flows from Investing Activities 2,013,959 (3,980,865) Over the last twelve months we have learnt that our structured approach
has given senior management an effective tool to make informed risk and
CASH FLOWS FROM FINANCING ACTIVITIES opportunity related strategic decisions, an experience we can now apply at
the operational level.
Capital Grants 2,017,666 4,386,375
By managing risks in a pro-active, organised and coherent manner Yooralla
Bequests 1,095,924 1,243,858
has greater assurance that we are meeting our compliance obligations.
Speciﬁc Trust Funds 19,309 29,514
The Victorian Managed Insurance Authority (VMIA), a statutory body that
NET CASH FLOWS FROM FINANCING ACTIVITIES 3,132,898 5,659,747 provides risk and insurance services to the government and its agencies, has
worked closely with Yooralla and has provided us with invaluable assistance,
NET INCREASE/(DECREASE) IN CASH HELD 4,405,670 3,858,553 support and training. This has enabled us to develop a risk framework
Add Opening Cash Brought Forward 4,577,838 719,285 speciﬁc to our unique needs. We look forward to growing the relationship
and beneﬁting from the expertise that VMIA so generously shares.
CLOSING CASH CARRIED FORWARD 14 (b) 8,983,508 4,577,838
(The above statement of cash ﬂows is to be read in
conjunction with the accompanying notes).
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS Impairment of Investments the risks and beneﬁts of ownership of the leased item,
Investments are assessed at each balance sheet date are recognised as an expense on a straight line basis.
FOR THE YEAR ENDED 30 JUNE 2009 for impairment. In the case of managed funds portfolio Contingent rentals are recognised as an expense in the
classiﬁed as available for sale, a signiﬁcant or prolonged ﬁnancial year in which they are incurred.
decline in the fair value of the managed funds portfolio
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES below its cost is considered in determining whether the
Trade and Other Payables
Liabilities for trade creditors and other amounts are
investment is impaired. If there is objective evidence that
an investment is impaired, the cumulative loss – measured carried at cost which is the fair value of the consideration
as the difference between its acquisition cost and its to be paid in the future for goods and services received.
(a) Basis of Preparation Donations and Fund Raising
current fair value, less any impairment loss previously
The ﬁnancial report is a general purpose ﬁnancial Donations and revenue generated from fund raising Provisions
recognised in proﬁt or loss, is transferred from equity to
report which has been prepared in accordance with the activities are recognised in the income statement when the income statement. Reversals of impairment losses for Provisions are recognised when the Company has a
requirements of the Corporations Act 2001 and Australian received. equity instruments classiﬁed as available-for-sale are not present obligation (legal or constructive) as a result of a
Accounting Standards. Other mandatory professional reversed through the income statement. past event and it is probable that an outﬂow of resources
reporting requirements (Urgent Issues Group Consensus Bequest Income will be required to settle the obligation and a reliable
Views) have also been complied with. The ﬁnancial Bequests of Corpus from Deceased Estates are Property, Plant and Equipment estimate can be made of the amount of the obligation.
report has also been prepared on a historical cost basis, recognised in the income statement when received. Non- Property, plant and equipment are carried in the accounts
cash bequest income, such as shares in listed companies, Employee Leave Beneﬁts
except for available-for-sale investments which have been at acquisition cost less accumulated depreciation and any
measured at fair value. The accounting policies adopted are recognised when received and brought to account at accumulated impairment losses. Liabilities arising in respect of wages and salaries, annual
are consistent with those of the previous year, unless the fair value on the date of receipt. leave and any other employee entitlements expected
otherwise noted. Land and Buildings are measured at fair value less to be settled within twelve months of the reporting date
Cash and cash equivalents accumulated depreciation on buildings and less are recognised in respect of employees’ services up to
Statement of compliance Cash on hand and in banks and short-term deposits any impairment losses recognised after the date of the reporting date. They are measured at the amounts
The ﬁnancial report complies with Australian Accounting are stated at nominal value. For the purposes of the revaluation. expected to be paid when the liabilities are settled (i.e
Standards. Statement of Cash Flows, cash includes cash on hand including all associated on-costs).
and in banks, and money market investments readily Depreciation is provided on a straight-line basis on all
Signiﬁcant accounting judgements, estimates and convertible to cash within 2 working days, net of property, plant and equipment, other than freehold land. Long service leave liability has been measured at the
assumptions outstanding bank overdrafts. present value of the estimated future cash outﬂow to be
Major depreciation periods: made in respect of services provided by employees up
In the process of applying Yooralla’s accounting policies,
management has made the following judgments, apart Receivables 2009 2008 to the reporting date. Consideration is given to expected
28 future wage and salary levels, experience of employee 29
from those involving estimations: Trade receivables, which generally have 30-60 day terms, Freehold 40 years 40 years
are recognised and carried at original invoice amount less departures and periods of service. In determining the
Deﬁned beneﬁt plans an allowance for any uncollectible amounts. An estimate present value of future cash outﬂows, the market yield
Various actuarial assumptions are required when for doubtful debts is made when collection of the full Leasehold The lease The lease as at the reporting date on national government bonds,
determining the entity’s deﬁned beneﬁt obligations. amount is no longer probable. Bad debts are written-off improvements term term which have terms to maturity approximating the terms of
These assumptions are further discussed in Note 10. as incurred. the related liability, are used.
Plant and 2 to 10 years 2 to 10 years
equipment Deﬁned Beneﬁt Superannuation Schemes
Revenue Recognition Inventories
Inventories are valued at the lower of cost and net In respect of the Society’s deﬁned beneﬁts superannuation
Government Grant Income An item of property, plant & equipment is derecognised plan, any contribution made to the superannuation fund
realisable value. Costs incurred in bringing each product
Revenue is recognised in accordance with AASB upon disposal or when no further future economic by the Society is expensed when due.
to its present location and condition is accounted for as
1004: Contributions. Revenue is recognised when beneﬁts are expected from its use or disposal. Any gain
the entity gains control over the revenue and there is or loss arising on derecognition of the asset (calculated as When sufﬁcient information is not available to use deﬁned
• Raw materials – purchase cost on a ﬁrst in-ﬁrst out the difference between the net disposal proceeds and the beneﬁt accounting for a multi-employer plan that is a
not an unconditional obligation to repay the revenue.
basis; and carrying amount of the asset) is included in proﬁt or loss in deﬁned beneﬁt plan, an entity shall account for the plan
Government grants received to purchase an asset are
recognised when the asset has been purchased, as prior • Finished goods and work in progress – cost of direct the year the asset is disposed. under AASB 119 paragraphs 44-46 as if it were a deﬁned
to this point Yooralla has an obligation to repay the funds material and labour. contribution plan. Refer to Note 10 for more detail.
if the asset is not acquired. Yooralla therefore recognises
Investments Intangible assets are acquired and initially measured at Taxation
grant income even where the service is not delivered until
Financial assets of Bank Bills and Managed Funds are cost. Following initial recognition intangibles assets are The Society is exempt from income tax by virtue of
the next ﬁnancial period.
classiﬁed as available-for sale. After initial recognition carried at cost less any accumulated amortisation and any Section 23 of the Income Tax Assessment Act 1936.
Sale of Goods available-for sale investments are measured at fair value accumulated impairment losses.
with unrealised gains and losses being recognised as Revenues , expenses and assets are recognised net of the
Recognised when control of the goods passes to the
Leases amount of GST except:
buyer. a separate component of equity until the investment is
derecognised or until the investment is impaired, at which Leases are classiﬁed at their inception as either operating • When the GST incurred on a purchase of goods and
Fees and Rents time the cumulative gain or loss previously reported in or ﬁnance leases based on the economic substance of the services is not recoverable from the taxation authority,
Fees are recognised when received. Rents and services equity is recognised in proﬁt and loss. Realised gains and agreement so as to reﬂect the risks and beneﬁts incidental in which case the GST is recognised as part of the cost
are recognised when control over the right to be paid losses are recognised through the proﬁt and loss. to ownership. of acquisition of the asset or as part of the expense
passes to Yooralla and can be reliably measured. item as applicable; and
The fair values of investments that are actively traded in Operating leases
• Receivables and payable, which are stated with the
Dividend Income organised ﬁnancial markets are determined by reference The minimum lease payments of operating leases, amount of GST included.
to quoted market bid prices at the close of business on where the lessor effectively retains substantially all of
Dividend income is recognised in the income statement
the balance date.
when the entity’s right to receive is established.
NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 3 EXPENSES
The net amount of GST recoverable from, or payable to, Yooralla Equity 2009 $ 2008 $
the taxation authority is included as part of receivables or Yooralla is a company limited by guarantee and therefore
payables in the balance sheet. the liability of members of Yooralla is limited to $50 each. Cost of goods sold - Business services 356,581 241,914
The liability continues for 12 months after a person stops Cost of goods sold - Equip. 5,375,600 4,737,227
Cash ﬂows are included in the Cash Flow Statement
being a member. Each member agrees to contribute up to
on a gross basis and the GST component of cash ﬂows Salaries, Employee Beneﬁts and Staff Agency Expense
that amount to Yooralla if it is wound up and the money is
arising from investing and ﬁnancing activities, which is
needed to pay the debts and liabilities of Yooralla or the cost Wages and Salaries expense 40,297,535 36,813,269
recoverable from, or payable to, the taxation authority are
of winding up. Under the Memorandum and the Articles of Superannuation expense 3,574,541 3,301,546
classiﬁed as operating cash ﬂows.
Association dividends are not able to be declared. Workers Compensation expense 1,162,581 1,016,186
Long Service and Annual Leave provision expense 709,016 862,161
Employee Training expense 491,788 449,393
Staff Agency expense 6,667,567 6,234,308
NOTE 2 REVENUE
2008 Speciﬁc purpose projects expense of $3,579,076 has been reclassiﬁed to the respective
2009 $ 2008 $ lines as it is considered more relevant. The breakdown is as follows:
• Salaries, employee beneﬁts and staff agency expense for $1,097,441 (2009: $1,129,359)
Revenues from Ordinary Activities
• Discretionary expenditure for carers & clients for $1,502,127 (2009: $1,637,403)
Government grants - State - recurrent 50,775,088 46,886,187
• IT, Telecommunications & Postage expense for $993 (2009: $4,067)
- Commonwealth - recurrent 1,593,378 1,160,260
• Repairs, maintenance and minor equipment expense for $0 (2009: $14,554)
Sale of goods - Business Services 1,640,905 1,164,825
• Other expenses from ordinary activities for $978,515 (2009: $780,798)
Sale of goods - Equip. 6,525,508 5,769,393
Fees and rents 5,784,543 6,086,734
Fundraising - ordinary activities 3,792,412 3,595,329
2009 $ 2008
Speciﬁc purpose projects 3,941,107 3,335,125
Total revenues from operating activities 74,052,942 67,997,853 Depreciation and Amortisation Expense
Revenues from Investing Activities Buildings 668,724 645,523
Interest on short-term deposits 1,029,500 1,053,135 Leasehold improvements 247,615 205,685
Rent for Glenroy School 475,189 467,590 Plant and equipment 609,102 554,500
Rent for ofﬁce spaces (net of outgoings) 263,793 270,711 Motor vehicles 622,134 537,206
Proﬁt from disposal of property, plant and equipment 188,400 175,738 Amortisation on Intangibles - 42,632
Income from managed funds / public company shares 333,581 455,761 2,147,576 1,985,547
Gain / (Loss) on sale of shares (150,376) (44,053)
Unrealised impairment (loss) from managed funds 1,844,431 -
Total revenues from non-operating activities 2,140,088 2,378,883
The market continues to be volatile with the value of investments held increasing
Revenue from Capital Grants
by approximately $838,000 during the two months since 30 June 2009
State Government 2,446,931 2,123,568
Commonwealth Government 125,500 28,879
Private Capital Grants 152,743 77,097
Total revenue from capital grants 2,725,174 2,229,544 2009 $ 2008 $
Revenue from Bequests Rental - operating leases 646,429 617,824
Capital bequests 1,095,924 1,243,858 Auditors remuneration - audit fee 46,350 48,920
Special Trust Funds 62,096 86,392 - other services 12,155 2,350
Total revenue from bequests 1,158,019 1,330,250 Bad debts - trade debtors 7,252 2,137
NOTE 4 RECEIVABLES (CURRENT) NOTE 6 INVENTORIES (CURRENT)
2009 $ 2008 $ 2009 $ 2008 $
Trade receivables 1,606,630 1,826,225 Stock - Raw materials 69,205 56,710
Less Allowance for impairment loss (10,000) (10,000) - Finished goods 14,072 15,612
1,596,630 1,816,225 83,277 72,322
Accrued Interest on Bank bills 65,521 53,223
Accrued Income - Imputation Credits (Franking) 109,252 101,088
Glenroy Special School share for utilities & maintenance 36,479 34,254
Other - Accrued income 159,704 178,492
Other debtors 11,246 22,104 NOTE 7 PROPERTY, PLANT & EQUIPMENT
(I) Trade receivables are non-interest bearing and generally on 30-60 day terms. 2009 $ 2008 $
A provision for impairment loss is recognised when there is objective evidence that an individual
trade receivable is impaired. An impairment loss of $10,000 has been recognised by Yooralla at balance date. Land - at cost 9,599,951 8,877,427
As at balance date the ageing analysis of trade receivables is as follows: Buildings - at cost 24,761,777 23,897,279
Accumulated depreciation (6,791,313) (6,122,589)
Total 0-30 days 31-60 days 61-90 days +91 days +91 days
Written down value 17,970,464 17,774,690
PDNI* PDNI* CI*
30 June 2009 1,606,629 1,432,084 108,928 32,016 23,601 10,000 Leasehold improvements - at cost 1,558,919 1,136,630
Accumulated amortisation (1,096,994) (849,380)
30 June 2008 1,826,225 1,491,194 255,736 42,957 26,338 10,000
32 Written down value 461,925 287,250 33
* PDNI - Past due not impaired
* CI - Considered impaired Plant and equipment - at cost 7,164,500 6,163,232
Accumulated depreciation (4,928,793) (4,448,573)
Written down value 2,235,706 1,714,659
Motor vehicles - at cost 4,955,458 4,274,017
Accumulated depreciation (2,516,828) (2,928,847)
NOTE 5 FINANCIAL ASSETS (CURRENT) Written down value 2,438,630 1,345,170
Total property, plant and equipment - at cost 48,040,605 44,348,585
Total accumulated depreciation and amortisation (15,333,929) (14,349,389)
2009 $ 2008 $
Total written down value 32,706,676 29,999,196
Bank bills - at fair value 7,000,000 12,836,289
Managed Funds - at fair value 5,528,818 7,283,037 As at 30th June 2009 the Directors have valued interests in
12,528,818 20,119,326 land and buildings at $43,145,000 which they are satisﬁed
exceeds the book value at that date.
Managed funds are classiﬁed as available for sale investments that are ordinary shares and shares in unit trusts
that have no ﬁxed maturity date. Their fair value has been determined directly by reference to published price
quotations in an active market.
NOTE 9 PAYABLES (CURRENT)
Reconciliations 2009 $ 2008 $
Reconciliations of the carrying amounts of property, plant and equipment at the beginning and end of
the current ﬁnancial year. Prepaid Revenue 115,187 472,594
Capital Income received in advance 4,220,654 5,770,124
Carrying Additions Disposals Depreciation End Balance Trade creditors 2,316,517 2,229,275
Beginning Expense @ 30/6/09 Goods & services tax payable 327,087 598,783
@1/7/08 Accrued salaries & wages (including super) 362,853 1,838,542
Super levy payable 428,580 266,381
Land 8,877,427 722,524 - - 9,599,951 Super contributions payable 64,435 55,493
Buildings 17,774,690 864,498 - (668,724) 17,970,464 Make Good Provision - 50,000
Leasehold improvement 287,250 422,288 - (247,615) 461,924 Jean Chambers Foundation 181,619 171,908
Plant & equipment 1,714,659 1,131,811 (1,661) (609,102) 2,235,706 Other creditors 13,306 4,545
Motor vehicles 1,345,170 1,983,811 (268,216) (622,134) 2,438,631
Total 29,999,196 5,124,933 (269,877) (2,147,576) 32,706,676
Carrying Additions Disposals Depreciation End Balance
Beginning Expense @ 30/6/08 NOTE 10 PROVISIONS, EMPLOYEE ENTITLEMENTS & SUPERANNUATION COMMITMENTS
Land 7,378,851 1,498,576 - - 8,877,427 2009 $ 2008 $
Buildings 17,854,711 565,502 - (645,523) 17,774,690 Employee entitlements (current) 6,028,734 5,555,211
Leasehold improvement 419,397 73,538 - (205,685) 287,250 Employee entitlements (non-current) 967,966 776,124
Plant & equipment 1,414,248 855,765 (854) (554,500) 1,714,659 6,996,700 6,331,335
Motor vehicles 1,414,985 675,833 (208,442) (537,206) 1,345,170 Employee Beneﬁts
Total 28,482,192 3,669,214 (209,296) (1,942,914) 29,999,196 The aggregated employee beneﬁts recognised and included in the ﬁnancial statements are as follows:
2009 $ 2008 $
Annual Leave - current 2,676,247 2,393,061
NOTE 8 INTANGIBLES Long Service Leave - current
Long Service Leave - non-current
Accrued Wages and Salaries (i) 362,853 1,838,542
2009 $ 2008 $ Superannuation payable (i) 493,015 321,874
Total Employee Beneﬁts 7,852,568 8,491,751
Computer Software at cost 382,448 382,448
Accumulated Amortisation (382,448) (382,448) (i) Accrued Salaries and Wages and Superannuation Payable are included in Note 9 Payables (current).
Written down value - -
NOTE 12 UNREALISED GAINS/(LOSSES) ON AVAILABLE FOR SALE INVESTMENTS
Superannuation Commitments We have been notiﬁed by Health Super that the Deﬁned 2009 $ 2008 $
The superannuation plans provide both accumulated Beneﬁt Fund has maintained its fully funded status. The
and deﬁned beneﬁts, the latter based on years of Health Super Deﬁned Beneﬁt Scheme assets exceeded Balance at beginning of year (709,542) 644,936
service and ﬁnal average salary. Eligible employees can liabilities by $15.063 million as at 30 June 2009 (30 June Unrealised gains / (losses) on managed funds (1,134,889) (1,073,430)
contribute to the plans at various percentages of their 2008: $23.95 million). Based on the Yooralla payroll
Effects of changes in accounting policy (281,048)
wages and salaries. Yooralla also contributes to the plan. information the notional excess of net assets attributable
to Yooralla employees in the Deﬁned Beneﬁt Scheme as Impairment of available for sale investments 1,844,431 -
Contributions by Yooralla into the accumulation fund of
up to 9% of employees’ wages and salaries are legally at 30 June 2009 is $16,305 (30 June 2008: $56,289) Balance at end of year - (709,542)
enforceable in Australia.
Past investment performance is not a reliable indicator of
The prior year Statement of Recognised Income and Expenses had Unrealised gains/(losses) on available for
Some of Yooralla’s employees will receive deﬁned beneﬁt future performance. Even though the Health Super Fund
sale assets relating to Special Funds separately as ($281,048). Under the change in accounting policy detailed
post-employment beneﬁts from Health Super. Health has recently attained a satisfactory funding status with
in Note 11, the 2008 Unrealised gains/(losses) on available for sale assets within the Statement of Recognised
Super is a deﬁned beneﬁt multi-employer plan. Sufﬁcient the assistance of strong investment returns, on the advice
Income and Expenses has been restated to ($1,354,478), representing an increase of ($281,048).
information is not available to account for Health Super of the Fund’s actuary, the contribution rates will remain
as a deﬁned beneﬁt plan as each employer is exposed to unchanged for the current ﬁnancial year.
actuarial risks associated with current and former employees
of other entities. As a result there is no consistent and
reliable basis for allocating the obligation, assets and
costs to individual entities. Therefore Yooralla has adopted
deﬁned contribution accounting for these employees. NOTE 13 ACCUMULATED SURPLUS
2009 $ 2008 $
Balance at beginning of year 38,730,190 35,562,267
NOTE 11 SPECIAL TRUST FUND Effects of changes in accounting policy 190,000 37
Restated opening balance 38,730,190 35,752,267
Net Surplus 1,455,674 3,055,042
2009 $ 2008 $ Surplus attributable to special trust funds (60,138) (77,119)
Balance at end of year 40,125,726 38,730,190
Hilltops Trust Fund
Balance at beginning of the ﬁnancial year 200,587 197,029
Additions during the ﬁnancial year 11,555 12,830
Expenditure during the ﬁnancial year (1,958) (9,272)
Balance at end of the ﬁnancial year 210,184 200,587
Katherine Bourke Trust Fund
Balance at beginning of the ﬁnancial year 1,153,561 1,270,000
Effects of changes in accounting policy - (190,000)
Restated opening balance 1,153,561 1,080,000
Additions during the ﬁnancial year 50,541 73,561
Unrealised gains/(losses) on managed funds - (281,048)
Effects of changes in accounting policy - 281,048
Balance at end of the ﬁnancial year 1,204,103 1,153,561
Total Special Funds 1,414,287 1,354,148
Change in accounting policy
Recognition of managed fund’s fair value movements attributable to the Katherine Bourke Trust Fund have
historically occurred directly in the same trust fund account. The appropriate treatment is to recognise such
movements outside of the Trust to preserve the bequest and recognise investment income.
The change has resulted in Unrealised Gains/(Losses) decreasing by $281,048 for the 2008 effect (see Note 12)
Accumulated Surplus has been restated by $190,000 for the 2007 effect (see Note 13)
NOTE 14 STATEMENT OF CASH FLOWS NOTE 15 EXPENDITURE COMMITMENTS
(a) Reconciliation of the net surplus to the net cash ﬂows from operating activities 2009 $ 2008 $
2009 $ 2008 $ Lease expenditure commitments:
Operating leases (non-cancellable)
Net surplus/(deﬁcit) 1,455,674 3,055,042 - not later than one year 597,617 507,120
Depreciation of property, plant and equipment 1,899,961 1,737,229 - later than one year and not later than ﬁve years 895,877 475,380
Amortisation of leasehold improvements 247,615 205,685 - greater than ﬁve years 20,634 -
Amortisation of Intangibles - 42,632 - aggregate lease expenditure contracted 1,514,128 982,500
Bad and doubtful debts 7,252 2,137 for at balance date but not provided for
(Proﬁt) / Loss on disposal of non-current assets (188,400) (175,739)
(Proﬁt) / Loss on sale of shares 150,376 44,053
Unrealised impairment (loss) from managed funds 1,844,431 -
Changes in assets and liabilities
Trade debtors 212,343 (290,004) NOTE 16 RELATED PARTY DISCLOSURES
Other receivables 35,133 (178,942)
Interest receivable (12,298) 20,215
Inventories (10,955) 22,876 The Board of Yooralla during the ﬁnancial year comprised:
Prepayments (96,131) 12,271 Ms. Emily Adams
Creditors (1,226,159) 567,230 Mr. Bruce Bonyhady
Other creditors / provisions (29,012) (856) Mrs. Elizabeth Corbett
Employee entitlements 665,364 862,162 Dr Peter Langkamp (appointed 25 September 2008)
38 Goods and services tax payable (271,696) 104,954 Prof. Dinah Reddihough AO 39
Prepaid Capital Income (938,549) 376,593 Mr. Phillip Slater
Unexpended Special Projects (271,318) (221,585) Ms. Amanda Robertson
Revenue from bequests and trusts (1,105,521) (1,268,053) Mr. Bryan Woodford (resigned 28 August 2008)
Revenue from investing activites (3,109,296) (2,738,229) Mr. John Yeoman
Mr. Sanjib Roy (appointed 25 September 2008)
Net cash ﬂow from operating activities (741,186) 2,179,671
Bruce Bonyhady (Yooralla Chairman) is also a director of ANZ Trustees Limited. Yooralla has an
investment management contract with ANZ Trustees. The contract is executed under normal
(b) Reconciliation of cash
No remuneration or superannuation beneﬁt has been received or is due and receivable by
Directors of Yooralla.
2009 $ 2008 $
Cash balance comprises:
- Cash on hand 17,120 15,280
- Cash in bank 216,388 112,558
- Deposits at call (Maxi)
Closing cash balance
NOTE 17 SEGMENT INFORMATION
Yooralla operates in Victoria within the community sector providing services to persons with disabilities.
NOTE 18 (b) NET FAIR VALUE
(b) Sensitivity analysis The credit risk on liquid funds is limited because the
effective interest rates of ﬁnancial assets and ﬁnancial
liabilities, both recognised and unrecognised, at the
managing each of the risks set out below, including counter parties are reputable banks with high credit
effective Interest Rate
The following sensitivity analysis is based on the interest
ratings. Equity securities are spreads amongst highly
Yooralla’s exposure to interest rate risks and the
the investment exposure, setting of limits and rate risk exposure in existence over the year ended 30
June 2009. If interest rates had moved as illustrated reputable fund managers and stocks to minimise the risk
This committee reviews and sets policies for
below, with all other variables held constant, the Yooralla of default.
operating surplus and equity would have been affected as
(d) Price Risk
The accounting standard deﬁnes this as the risk that the
Risk Exposures and Responses
Surplus (Deﬁcit) fair value of future cash ﬂows of a ﬁnancial instrument will
reporting date are as follows:
Higher / (Lower) ﬂuctuate due to changes in market price. At balance date
2009 $ 2008 $ Yooralla has 23% (2007: 27%) of its investment portfolio
statement of ﬁnancial
Total amount as per
in equity securities which is exposed to price risk. By its
(a) Interest rate risk
+1% (100 basis points) 189,000 142,000 nature, investment in equity securities can never be risk
-1% (100 basis points) (189,000) (142,000) free as the market price of these securities can ﬂuctuate.
To limit this risk Yooralla diversiﬁes its portfolio in
The sensitivity in 2009 is higher than 2008 due to higher
accordance with limits set by the Investment Committee
average monthly Maxi and bank bill balances throughout
and ultimately the Board. All the equity investments are
most of FY09, offset by lower average interest rates.
publicly traded on the ASX. The investment philosophy
(c) Credit Risk set by the Board regards these investments as medium to
2008 $’000 long term thereby shielding the portfolio from short term
Credit risk arises from the ﬁnancial assets of Yooralla,
development of a forecast cash ﬂow that is updated
to which we are exposed. These include monitoring
to manage credit risk. Liquidity is managed through
Finance and Property and Investment Committees.
rates. Ageing analysis of receivables is undertaken
which comprise cash and cash equivalents, trade and
the levels of exposure to interest rate movement
daily monitoring of cash ﬂow requirements and
and assessment of market forecasts for interest
other receivables and available for sale ﬁnancial assets.
ﬁnancial risks rests with the Board through the
The primary responsibility for identiﬁcation of
(e) Liquidity Risk
Yooralla’s exposure to credit risk arises from potential
The accounting standard deﬁnes this as the risk that an
default of the counter party on its contractual obligations
entity will encounter difﬁculty in meeting obligations
resulting in ﬁnancial loss.
40 associated with ﬁnancial liabilities. The ultimate 41
Yooralla only deals with third parties who have an responsibility for this rests with the Board. Management
approved credit record with Veda Advantage. Trade manages the liquidity risk by maintaining adequate cash
receivables consist of arrangements with state and reserves and by continuously monitoring forecast and
actual cash ﬂows while matching the maturity proﬁles of
maturing 1 yr or less
federal governments, Dualware commercial customers,
Fixed Interest Rate
clients TAC and Department of Veterans Affairs (DVA). ﬁnancial assets and liabilities. Given the current surplus
NOTE 18 FAIR VALUE & INTEREST RATE RISK
Receivables are monitored and followed up on an cash assets, liquidity risk is minimal.
at least monthly.
ongoing basis to reduce the potential for bad debts. Our
N/A – not applicable for non-interest bearing ﬁnancial instruments.
current trade terms are 30 -60 days (refer to Note 4 for
details of the ageing of trade receivables as at 30 June
and liquidity risk. The Board through the Finance and
Floating Interest Rate
instruments are interest rate risk, credit risk, price risk
Property Committee and the Investment Committee
consider these risks. Yooralla used various methods
receivables, ﬁnancial assets available for sale (bank
to measure and manage the different types of risk
call. Yooralla does not enter into or trade ﬁnancial
bills and managed funds), cash and deposits at
The main risks arising from Yooralla’s ﬁnancial
Yooralla’s ﬁnancial instruments comprise of
instruments for speculative purposes.
In accordance with a resolution of the Directors of (b) there are reasonable grounds to believe that
Yooralla, I state that: In the opinion of the Directors: Yooralla will be able to pay its debts as and when
they become due and payable.
(a) the ﬁnancial statements and notes of Yooralla are
Total ﬁnancial assets
Short term deposits
in accordance with the Corporations Act 2001,
Bill of exchange &
(i) giving a true and fair view of the Yooralla’s
ﬁnancial position as at 30 June 2009 and of its
performance for the year ended on that date;
and BRUCE BONYHADY
(ii) complying with Accounting Standards and Chair
Corporations Regulations 2001; and 12th October 2009
Independent auditor’s report to the members of Yooralla
In our opinion:
1. the financial report of Yooralla is in accordance with the Corporations Act 2001, including:
Report on the Financial Report (i) giving a true and fair view of the financial position of Yooralla at 30 June 2009 and of its
We have audited the accompanying financial report of Yooralla, which comprises the balance sheet as at 30 performance for the year ended on that date; and
June 2009, and the income statement, statement of changes in equity and cash flow statement for the year (ii) complying with Australian Accounting Standards (including the Australian Accounting
ended on that date, a summary of significant accounting policies, other explanatory notes and the directors’ Interpretations) and the Corporations Regulations 2001.
2. the financial report also complies with International Financial Reporting Standards as issued by the
International Accounting Standards Board.
Directors’ Responsibility for the Financial Report
The directors of the company are responsible for the preparation and fair presentation of the financial report in
accordance with the Australian Accounting Standards (including the Australian Accounting Interpretations)
and the Corporations Act 2001. This responsibility includes establishing and maintaining internal controls
relevant to the preparation and fair presentation of the financial report that is free from material misstatement,
Ernst & Young
whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting
estimates that are reasonable in the circumstances. In Note 2, the directors also state that the financial report,
comprising the financial statements and notes, complies with International Financial Reporting Standards as
issued by the International Accounting Standards Board.
Auditor’s Responsibility Partner
42 Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in Melbourne 43
accordance with Australian Auditing Standards and International Standards on Auditing. These Auditing XX October 2009
12th October 2009
Standards require that we comply with relevant ethical requirements relating to audit engagements and plan
and perform the audit to obtain reasonable assurance whether the financial report is free from material
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial report. The procedures selected depend on our judgment, including the assessment of the risks of
material misstatement of the financial report, whether due to fraud or error. In making those risk assessments,
we consider internal controls relevant to the entity’s preparation and fair presentation of the financial report in
order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity’s internal controls. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by the
directors2, as well as evaluating the overall presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
Auditor’s Independence Declaration to the Directors of Yooralla
In relation to our audit of the financial report of Yooralla for the financial year ended 30 June 2009, to
In conducting our audit we have met the independence requirements of the Corporations Act 2001. We have the best of my knowledge and belief, there have been no contraventions of the auditor independence
given to the directors of the company a written Auditor’s Independence Declaration, a copy of which is included requirements of the Corporations Act 2001 or any applicable code of professional conduct.
in the directors’ report. In addition to our audit of the financial report, we were engaged to undertake the
services disclosed in the notes to the financial statements. The provision of these services has not impaired our
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Liability limited by a scheme approved under June Wilson
Professional Standards Legislation
XX October 2009
12th October 2009
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