ANNUAL FINANCIAL REPORT 2015-16 · 8 ANNUAL FINANCIAL REPORT 2015-16. STATEMENT OF CHANGES IN...

ANNUAL FINANCIAL REPORT 2015-16

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ST VINCENT DE PAUL SOCIETY QUEENSLAND 3

4 ANNUAL FINANCIAL REPORT 2015-16

STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE YEAR ENDED 30 JUNE 2016

NOTE 2016 $

2015 $

REVENUE OPERATING EXPENSES

NET SURPLUS / (DEFICIT) REVENUE OPERATING

EXPENSES NET SURPLUS /

(DEFICIT)

Community Services

Child & Family Support 4,865,472 4,989,756 (124,284) 4,692,607 4,835,637 (143,030)

Homelessness 1,054,556 1,541,205 (486,649) 1,124,993 1,404,193 (279,200)

Financial Assistance 309,785 274,138 35,647 197,571 285,245 (87,674)

Help for People in Crisis 2,080,823 6,945,852 (4,865,029) 2,561,846 7,052,511 (4,490,665)

Natural Disaster Relief 3,207 25,872 (22,665) 867,948 521,618 346,330

Migrants & Refugees 578,610 671,754 (93,144) 453,593 563,576 (109,983)

Overseas Development 14,262 249,574 (235,312) 45,271 323,399 (278,128)

Youth 107,736 1,169,699 (1,061,963) 128,877 931,615 (802,738)

Disability 3,271,628 3,042,935 228,693 3,107,943 2,787,531 320,412

Community Housing 3,596,850 3,136,186 460,664 3,401,789 3,370,669 31,120

Home Assist 6,081,903 6,274,030 (192,127) 7,193,267 7,417,299 (224,032)

21,964,832 28,321,001 (6,356,169) 23,775,705 29,493,293 (5,717,588)

Supporting Services

Fundraising 3,961,332 1,158,265 2,803,067 4,941,564 1,072,530 3,869,034

Administration 104,628 687,201 (582,573) 157,071 506,829 (349,758)

Operations # 5,117,684 4,807,663 310,022 4,437,566 3,396,431 1,041,135

Retail Operations 29,573,562 16,196,938 13,376,624 25,537,401 14,375,478 11,161,923

Warehouse Operations 1,721,062 5,225,019 (3,503,957) 1,405,678 4,760,573 (3,354,895)

Membership Spiritual Development - 166,091 (166,091) - - -

40,478,268 28,241,176 12,237,092 36,479,280 24,111,841 12,367,439

Shared Services

Finance - 78,055 (78,055) 2,171 250,797 (248,626)

Human Resource 10,082 64,027 (53,945) - 44,965 (44,965)

Information Technology 16,908 479,792 (462,884) 98 221,103 (221,005)

Legal & Compliance 50 400,650 (400,600) 61,297 395,817 (334,520)

27,040 1,022,524 (995,484) 63,566 912,682 (849,116)

62,470,140 57,584,702 4,885,439 60,318,551 54,517,816 5,800,735

Total Surplus 2, 3 4,885,439 5,800,735

Other comprehensive income for the year

- -

Total comprehensive income for the year 4,885,439 5,800,735

# Revenue 2015 & Expenses 2016 include unrealised gains and losses on Financial Assets due to change in accounting policy.

This financial statement should be read in conjunction with the accompanying notes.


STATEMENT OF FINANCIAL POSITIONAS AT 30 JUNE 2016

NOTE 2016 $

2015 $

Current assets

Cash and cash equivalents 5 15,547,358 5,658,419

Trade and other receivables 6 870,443 1,938,676

Inventories 7 75,700 124,080

Other assets 8 735,187 773,703

Assets held for sale 9(B) 856,400 -

Total current assets 18,085,088 8,494,878

Non-current assets

Other assets 8 100,000 100,000

Property, plant and equipment 9(A) 81,972,111 76,181,888

Financial assets at fair value through profit and loss 10 16,820,215 23,802,126

Total non-current assets 98,892,326 100,084,014

Total assets 116,977,414 108,578,892

Current liabilities

Trade and other payables 11 3,321,780 2,104,978

Current provision 13 4,227,236 4,036,688

Interest bearing liabilities 12 1,117,243 708,478

Grants in advance 14 1,245,292 1,002,645

Total current liabilities 9,911,551 7,852,789

Non-current liabilities

Interest bearing liabilities 12 9,060,272 6,876,125

Provisions 13 1,279,740 1,316,830

Grants in advance 14 19,750,820 20,443,556

Total non-current liabilities 30,090,832 28,636,511

Total liabilities 40,002,383 36,489,300

Net assets 76,975,031 72,089,592

Equity

Reserves 15 7,886,911 7,941,911

Accumulated funds 15 69,088,120 64,147,681

Total equity 76,975,031 72,089,592



STATEMENT OF CHANGES IN EQUITYFOR THE YEAR ENDED 30 JUNE 2016

RESERVESACCUMULATED

FUNDS TOTALNOTE $ $ $ $

PROPERTY REVALUATION

RESERVE

AVAILABLE FOR SALE

FINANCIAL ASSETS FAIR

VALUE RESERVE

Balance at 30 June 2014 7,941,911 1,329,700 57,017,246 66,288,857

Total comprehensive income for the period

Net surplus for the period 30 June 2015 - - 5,800,735 5,800,735

Other comprehensive income

- Reclassification adjustment on disposal of property - - - -

Total comprehensive income for the period - - 5,800,735 5,800,735

- Reclassification adjustment of Available for Sale Financial Assets on early adoption of new accounting standards 10 - (1,329,700) 1,329,700 -

Balance at 30 June 2015 7,941,911 - 64,147,681 72,089,592

Total comprehensive income for the period

Net surplus for the period 30 June 2016 - - 4,885,439 4,885,439

Total comprehensive income for the period - - 4,885,439 4,885,439

- Reclassification adjustment on disposal of property (55,000) - 55,000 -

Balance at 30 June 2016 15 7,886,911 - 69,088,120 76,975,031



STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 30 JUNE 2016

NOTE 2016 $

2015 $

Cash flows from Operating Activities

Receipts from operating activities 62,524,818 58,274,852

Payments to suppliers and employees (51,882,153) (53,277,857)

Interest received 696,375 653,529

Dividends received 577,143 635,540

Finance costs (471,895) (297,809)

Net cash provided by operating activities 18(B) 11,444,288 5,988,255

Cash flows from Investing Activities

Proceeds - sale of property, plant and equipment 4,193,610 2,932,290

Proceeds - sale of financial assets at fair value through profit and loss 15,176,783 16,879,687

Payment for property, plant and equipment (14,254,210) (13,283,237)

Payment for available for sale financial assets (9,264,444) (27,123,962)

Net cash used in investing activities (4,148,261) (20,595,222)

Cash flows from Financing Activities

Repayment of borrowings (944,751) (559,725)

Proceeds from borrowings 3,537,663 3,542,133

Net cash provided by financing activities 2,592,912 2,982,408

Net increase/(decrease) in cash 9,888,939 (11,624,559)

Cash and cash equivalents at the beginning of the financial year 5,658,419 17,282,978

Cash and cash equivalents at the end of the financial year 18(A) 15,547,358 5,658,419



ABOUT THIS REPORTCorporate Information

The St Vincent de Paul Society Queensland, (the Society) is a non-government charitable organisation. The financial report covers the economic activities of the Society in Queensland. The Society is a body incorporated under letters patent.

The Society is a non-profit organisation and receives a principal part of its income from donations, as cash or in kind. The Society is a deductible gift recipient (DGR).

The financial statements, which are presented in Australian dollars, were authorised for issue on 24 September 2016 by the State Council.

The Society is a non-profit entity for financial reporting purposes under Australian Accounting Standards

Organisation Details

The registered office of the Incorporated Organisation is:St Vincent de Paul Society Queensland 10 Merivale Street South Brisbane Qld 4101

NOTE 1: GENERAL ACCOUNTING POLICIESAs disclosed in the Early adoption of standards section below, this report has been changed so that accounting policies of particular items appear in the relevant notes. This is to facilitate easier use and more relevant understanding of each item by users of this report.

Basis of Preparation

Statement of compliance

The financial statements are general purpose financial statements which have been prepared in accordance with Australian Accounting Standards – Reduced Disclosure Requirements, other authoritative pronouncements of the Australian Accounting Standards Board and the Australian Charities and Not-for-profits Commission Act 2012. The Australian Accounting Standards include Australian equivalents to International Financial Reporting Standards AIFRS. Due to the application of Australian specific provisions for not-for-profits entities contained only within Australian Accounting Standards, the financial report and notes thereto are not necessarily compliant with all International Financial Reporting Standards.

Adoption of new and revised accounting standards

New and amended standards and interpretations that are mandatory for the first time for the financial year beginning 1 July 2015 have been adopted. The adoption of these standards and interpretations did not have any material impact on the current or any prior period and is not likely to materially affect future periods.

Early adoption of standards

The Society adopted AASB 9 Financial Instruments (AASB 9) early with initial application from 1 July 2014. Equity instruments were reclassified due to a change in the nature of these investments such that they are now classified as held for trading. This results in all gains and losses from these investments, and all fair value movements being directly recognised through profit or loss in the statement of profit or loss and other comprehensive income. As a result of the change, $12,659,377 of listed equity securities were transferred from Available for Sale Assets to Financial Assets at Fair Value through Profit and Loss in 2015. These assets were revalued during the year ended 30 June 2016 to $16,820,213 (2015: $23,802,126) with the fair value loss of $1,069,569 (2015: gains of $898,471) being recognised through profit or loss in the statement of profit or loss and other comprehensive income.


NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30 JUNE 2016

Disclosure initiative The Society has elected to early adopt the amending Accounting Standard, AASB 2015-2 for the financial statements for the year ended 30 June 2016. The amendments allow changes to the format of the notes to the financial statements to enhance the presentation of information to users.

The notes include information which is required to understand the financial statements and is material and relevant to the operations, financial position and performance of the Society. Information is considered relevant and material if for example:

- the amount in question is significant because of its size or nature;- it is important for understanding the results of the Society;- it helps to explain the impact of significant changes in the Society’s business, acquisitions and

impairment write-downs;- it is related to an aspect of the Society’s operations that is important to its future performance.

The notes are organised in the following way:

- Key numbers Note 2 to 8, 11, 12 to 15 - Capital Expenditure Note 9 and 10 - Risk Note 19 - Unrecognised items Note 16 & 17 - Other Note 18, 20 to 21

The Society has not elected to apply any other pronouncements before their operative date in the annual reporting period beginning 1 July 2015.

New accounting standards not yet effective

The following new/amended accounting standards and interpretations have been issued, but are not mandatory for financial years ended 30 June 2016. They have not been adopted in preparing the financial statements for the year ended 30 June 2016 (or for late financial reports of earlier periods) and may impact the entity in the period of initial application. In all cases the entity intends to apply these standards from application date as indicated below.

AASB 15 RevenueThe new revenue recognition standard, AASB 15 Revenue from Contracts with Customers is a result of a joint project of the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB). The core principle of AASB 15 is that an entity should recognise revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This means that revenue will be recognised when control of goods or services is transferred, rather than on transfer of risks and rewards as is currently the case under AASB 118 Revenue. The Society is still determining the effect on the financial statements on implementation of the Standard (effective 1 July 2018).

AASB 16 Leases

Except for short-term leases (less than 12 months from commencement date, including extension options), and ‘low value’ items, all leases will be capitalised in the financial statements by recognising a ‘right-of-use’ asset and a lease liability for the present value of the obligation. This means that we will no longer see straight-line ‘rental’ expense in profit or loss (except for short-term leases and low value items). All leases will incur a frontend loaded expense, comprising depreciation on the right-of-use asset, and interest on the lease liability. When initially measuring the right-of-use asset and lease liability, non-cancellable lease payments (including inflation-linked payments), as well as payments for option periods which the entity is reasonably certain to exercise, must be included in the present value calculation. There will be no change to the accounting treatment for short-term leases less than 12 months and leases of low value items, which will continue to be expensed on a straight-line basis. No changes to accounting for entities as a lessor, as it retains the accounting for operating and finance leases for lessors. The Society is still determining the effect on the financial statements on implementation of the Standard (effective 1 January 2019).



Reporting basis and conventions

The financial report has been prepared on an accruals basis and is based on historic costs modified by the revaluations of selected financial assets, for which the fair value basis of accounting has been applied.

Key judgements and estimates.

In the process of applying the Society’s accounting policies, management has made a number of judgements and applied estimates for future events. Judgements and estimates which are material to the financial report are found in the following notes:

Note 9 Property Plant & Equipment Page 19Note 10 Fair Value Measurement Page 23Note 10 (A) Investments at Fair Value Page 24Note 13 Provisions Page 28

Fair values of assets and liabilities

Fair values may be used for financial asset as liability measurement as well as for sundry disclosures.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is based on the presumption that the transaction takes place either in the principal market for the asset or liability or, in the absence of a principal market, in the most advantageous market. The principal or most advantageous market must be accessible to, or by, the Society.

Fair value is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their best economic interest.

The fair value measurement of a non-financial asset takes into account the market participant’s ability to generate economic benefits by using the asset at its highest and best use or by selling it to another market participant that would use the asset at its highest and best use.

In measuring fair value, the Society uses valuation techniques that maximise the use of observable inputs and minimise the use of unobservable inputs.

Income tax and Fringe benefit tax

The Society is not subject to Income Tax. The Society is entitled to a partial exemption from fringe benefits tax.

Comparative figures

Where necessary, comparative figures have been adjusted to conform to changes in presentation in the current year.

OZCARE LIMITED (OZCARE)Pursuant to the settlement reached between the Society and Ozcare on 20 September 2011, the Society became the sole member of Ozcare. As part of the Ozcare settlement, the Society had undertaken to the Supreme Court of Queensland not to exercise any rights as the sole member of Ozcare prior to 1 September 2016. This was part of a structured transition period that forms part of the Court order. During the transition period, the Society had an entitlement to appoint directors progressively until it assumed full control of Ozcare, as sole member, on 1 September 2016. Taking into account the requirements of the Australian Accounting Standards and the restrictions placed on the Society’s rights as the sole member of Ozcare up until 1 September 2016, the Society determined it would not be appropriate to consolidate the results and financial position of Ozcare into the financial statements of the Society. The financial results of Ozcare for the year ended 30 June 2016 (and 30 June 2015) have not been reported in the financial statements of the Society on a consolidated basis.



NOTE 2: REVENUE

NOTE 2016 $

2015 $

Shop revenue 30,231,631 26,709,545

Donations

- General 4,130,960 4,450,082

- Disaster appeal 18,696 356,554

- Special appeal 276,104 457,442

4,425,760 5,264,078

Bequests 1,222,873 2,216,823

Government funding

- General 16,510,650 17,516,695

- Capital funding 740,865 772,913

17,251,516 18,289,608

Interest received

- Cash and cash equivalents 225,768 298,097

- Financial assets at fair value through profit and loss 10(B) 470,607 355,432

696,374 653,529

Dividends received 10(B) 744,653 635,540

Contributions for service 4,460,434 4,154,254

Insurance recovery 86,554 513,212

Other revenue 1,015,658 639,754

Placement fee 358,753 -

Revenue 60,494,205 59,076,343

Other Income

- Gain on sale of property, plant and equipment 384,066 343,737

- Gain on financial assets at fair value through profit & loss - 898,471

- Recovery of impaired available for sale financial assets # 1,591,869 -

1,975,935 1,242,208

62,470,140 60,318,551

# During the financial year the Society received $1,591,868.86 of its $1,848,326 claim relating to the liquidation of Lehman Bros Australia Limited. This amount included a settlement of its action against Standard & Poors in connection with the Lehman’s investments.



ACCOUNTING POLICY Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Society and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognised:

Goods and Services Tax

Revenues are recognised net of the amount of GST. GST received during the financial year is stated at gross amounts in the Statement of Cash Flows and is included in receipts from operating activities.

Sale of goods

Revenue is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer and can be measured reliably. Risks and rewards are considered passed to the buyer at the time of delivery and/or control of the goods has passed to the buyer.

Donations and bequests

Revenue or capital assets arising from donations and bequests is recognised when control is obtained, as it is impossible for the Society to reliably measure these prior to this time. For example, cash donations are recognised when banked and other donations are recognised when title or possession transfers to the Society.

Gifts in kind

Gifts in kind obtained for charitable purposes have a nil replacement value (that is they would be replaced by other donated goods), and as such revenue from the donations of these goods are not included in the financial statements other than as defined under donations and bequests.

Government grants

Grants are principally of a recurrent or capital nature and intended to fund ongoing operations or asset acquisitions.

Grants received on the condition that specified services are delivered, or conditions are fulfilled, are considered reciprocal. Such grants are initially recognised as a liability and revenue is recognised as services are performed or conditions fulfilled. Revenue from non-reciprocal grants is recognised when the Society obtains control of the funds.

The Society has determined that capital grant income shall be recognised over the term of the agreement where the terms of the grant include service requirements and other conditions. As the conditional agreement extends to the life of the agreement (20 to 40 years) the Society has determined that the capital grants will be initially recognised as a deferred income liability and amortised to capital grant income over the period of the agreement.

Interest revenue

Revenue is recognised as the interest accrues for the accounting period.

Dividends

Dividends are recognised when the Society’s right to receive payment is established.

Client contributions

Client contributions by clients who have the capacity to pay are recognised when the service is provided.

Proceeds of non-current asset sales

The net gain from the sale of non-current assets is included as revenue when control of the asset passes to the buyer. The gain or loss on disposal is calculated as the difference between the carrying amount of the asset at the time of disposal and net proceeds.



NOTE 3: OPERATING EXPENSES

NOTE 2016 $

2015 $

Specific required disclosures are:

Depreciation of property, plant and equipment 9(A) 3,689,735 3,468,885

Disaster expenses 16,486 436,031

Write off of fixed assets 97,165 253,879

Rental expense on operating leases

-Minimum lease payments 4,138,638 4,261,052

Employee benefits 22,091,509 20,370,146

Defined contribution superannuation expense 1,937,415 1,808,769

Legal claim expense - CDO # - 41,329

Finance costs 471,895 426,090

Fair value loss on financial assets at fair value through profit & loss 10(B) 1,069,569 -

# An expense has been taken up for a requested refund of Federation CDO issued to the Society in 2009 of $1,000,000. They are also seeking interest of 9% p.a. on these funds. As this is now 7 years since the claim arose, no interest has been accrued for 2016 to reflect the reduced litigation risk of the matter (2015: $128,281). Refer Note 13 Key Judgements for details.

Accounting Policy


Expenses are recognised net of the amount of GST. GST paid during the financial year is stated at gross amounts in the Statement of Cash Flows and is included in payments to suppliers.

NOTE 4: AUDITORS’ REMUNERATION

NOTE 2016 $

2015 $

Amount paid to BDO for:

Audit of financial report and grant financial returns 101,000 93,000

Indirect taxation services 2,240 400

Other assurance services 3,186 7,719

106,426 101,119



NOTE 5: CASH AND CASH EQUIVALENTS

NOTE 2016 $

2015 $

Cash on hand 41,332 48,297

Cash at bank 10,260,391 4,392,850

Term deposits 5,245,635 1,217,272

15,547,358 5,658,419

Accounting PolicyCash and cash equivalents in the Statement of Financial Position comprise cash at bank and in hand and deposits at call or with an original maturity of less than three months, which are subject to insignificant risks of changes in their value. For the purposes of the Statement of Cash Flows, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

Financial assets

All financial assets are initially recognised at cost, being the fair value of the consideration given and including acquisition charges associated with the financial assets. Where a financial asset is acquired at no cost, or for a nominal cost, the cost is its fair value as at the date of acquisition.

NOTE 6: TRADE AND OTHER RECEIVABLES

NOTE 2016 $

2015 $

Trade and other receivables 627,518 1,407,174

GST receivable 242,925 531,502

870,443 1,938,676

Accounting PolicyTrade and other receivables are recognised and carried at original invoice amount less an allowance for any uncollectible amounts. An estimate for doubtful debts is made when collection of the full amount is no longer probable. Bad debts are written off when identified.


Assets are recognised net of the amount of GST. Receivables in the Statement of Financial Position are shown inclusive of GST. GST received during the financial year is stated at gross amounts in the Statement of Cash Flows and is included in receipts from operating activities.

Financial assets




NOTE 7: INVENTORIES

NOTE 2016 $

2015 $

Stock on hand 75,700 124,080

75,700 124,080

Accounting PolicyInventories are valued at the lower of cost and current replacement cost.

Financial assets


NOTE 8: OTHER ASSETS

NOTE 2016 $

2015 $

Current

Prepayments 567,677 420,930

Accrued income (A) 167,510 352,773

735,187 773,703

Non-Current

Loan receivable (B) 100,000 100,000

100,000 100,000

(A) Accrued franking credits for 2016 of $167,510 (2015: $352,773). (B) A No-interest loan was made to St Vincent de Paul Society Tasmania for $100,000 in February 2014, repayable in 10 years.

Accounting PolicyLoans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Such assets are carried at amortised cost using the effective interest rate method. Gains and losses are recognised in profit or loss when the loans and receivables are derecognised or impaired. These are included in current assets, except for those with maturities greater than 12 months after reporting date, which are classified as non-current.


Assets are recognised net of the amount of GST. GST received during the financial year is stated at gross amounts in the Statement of Cash Flows and is included in receipts from operating activities.

Financial assets




NOTE 9(A): PROPERTY, PLANT & EQUIPMENT

NOTE 2016 $

2015 $

Land and Buildings

At Cost 85,163,958 75,396,825

Less accumulated depreciation (10,191,269) (8,489,124)

74,972,689 66,907,701

Leasehold Improvements

At Cost 1,716,581 1,466,994

Less accumulated depreciation (797,950) (679,828)

918,631 787,166

Motor Vehicles

At Cost 5,897,906 5,408,498


3,473,136 3,216,504

Furniture & Fittings

At Cost 4,008,452 3,873,922


1,318,638 1,306,150

Computer Equipment

At Cost 3,572,373 3,269,536


694,797 608,218

Office Equipment

At Cost 1,308,222 1,540,726


189,593 270,811

Work in Progress

At Cost 377,323 3,072,835

377,323 3,072,835

Make Good Leased Premises

At Cost 487,568 555,409

Less accumulated depreciation (460,264) (542,906)

27,304 12,503

81,972,111 76,181,888



NOTE 9(A): PROPERTY, PLANT & EQUIPMENT (CONTINUED)

Reconciliations

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

NOTE 2016 $

2015 $

Land & Buildings

Carrying amount at the beginning of the financial year 66,907,701 61,686,203

Additions 6,174,979 4,352,261

Disposals (82,750) (78,429)

Transfers 4,583,523 2,351,469

Transfers to assets held for sale (856,400) -

Less depreciation (1,754,364) (1,403,803)

Carrying amount at the end of the financial year 74,972,689 66,907,701

Leasehold Improvements

Carrying amount at the beginning of the financial year 787,166 776,023

Additions 324,544 170,678

Disposals (53,860) (10,213)

Transfers - (443)

Less depreciation (139,219) (148,879)

Carrying amount at the end of the financial year 918,631 787,166

Motor Vehicles


Additions 4,931,464 3,844,771

Disposals (3,747,227) (2,708,597)

Transfers - (492)



Furniture & Fittings


Additions 299,801 374,664

Disposals (19,147) (27,503)

Transfers 64,346 (2,976)






Reconciliations (continued)

NOTE 2016 $

2015 $

Computer Equipment


Additions 192,890 304,186

Disposals (3,040) (6,552)

Transfers 300,885 86,918



Office Equipment


Additions 38,292 106,563

Disposals (686) (6,750)

Transfers - 2,366



Work in Progress


Additions 2,253,241 4,069,281

Transfers (4,948,753) (2,436,842)

Carrying amount at the end of the financial year 377,323 3,072,835

Make Good Leased Premises


Additions 39,000 170,009

Disposals (11,144) (34,200)






Reconciliations (continued)

NOTE 2016 $

2015 $

Total Property, Plant & Equipment


Additions (excluding make good leased premises) 14,254,210 13,392,413

Movement in make good leased premises (non-cash) (11,144) (34,200)

Disposals (3,906,708) (2,838,044)

Transfers to assets held for sale 9(B) (856,400) -

Less depreciation 3 (3,689,735) (3,468,885)


Accounting PolicyProperty, plant and equipment are stated at cost less accumulated depreciation and any impairment in value. Depreciation is calculated on a straight-line basis over the estimated useful life of assets as follows:

Class of Property, Plant and Equipment Depreciation Rates

Buildings 2.5%Furniture & fittings, leasehold improvements & office equipment 2.5% to 20%Computer equipment 20% to 33.33%Motor vehicles 15% to 20%

Impairment

No impairment has been taken to account for the period ended 30 June 2016. The carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

If any such indication exists and where the carrying values exceed the estimated recoverable amount, the assets are written down to their recoverable amount.

At each reporting date, the Diocesan Central Councillors review a number of factors affecting property, plant and equipment, including their carrying values, to determine if these assets may be impaired. If an impairment indicator exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and ‘value in use’ is compared to the carrying value. Any excess of the asset’s carrying value over its recoverable amounts is expensed in profit or loss as an impairment expense.

As the future economic benefits of the Society’s assets are not primarily dependent on their ability to generate net cash inflows, and if deprived of the asset, the Society would replace the asset’s remaining future economic benefits, ‘value in use’ is determined as the depreciated replacement cost of the asset, rather than by using discounted future cash flows.

Depreciated replacement cost is defined as the current replacement cost of an asset less, where applicable, accumulated depreciation calculated on the basis of such cost to reflect the already consumed or expired future economic benefits of the asset. The current replacement cost of an asset is its cost measured by reference to the lowest cost at which the assets future economic benefits of that asset could currently be obtained in the normal course of business.


Assets are recognised net of the amount of GST.



NOTE 9(B): ASSETS HELD FOR SALE

NOTE 2016 $

2015 $

Carrying amount at the beginning of the financial year

Transfer from land & buildings 856,400 -

Assets held for sale 856,400 -

Accounting PolicyAssets held for sale represents land and buildings that have been disposed of subsequent to year end or are currently held for sale in the market and are expected to be sold within one year. Assets held for sale are measured at the lower of the carrying amount and fair value less costs to sell.


Assets are recognised net of the amount of GST.

NOTE 10: FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT AND LOSS

FAIR VALUE MEASUREMENTThe following assets are recognised and measured at fair value on a recurring basis.

All these assets are at Level 1 in the fair value hierarchy, with the exception of unlisted international managed funds which are at Level 2, as they are not actively traded through an exchange. For Level 1 the fair value is based on quoted prices (unadjusted) in active markets for identical assets or liabilities. For Level 2 the fair value is determined by the fund manager’s value calculation using the value of the underlying listed investments.

Accounting PolicyDetails regarding critical accounting estimates and assumptions about financial risk management made by management at reporting date are disclosed in Note 19(A) and 19(B).

(A) Investments at fair value

Listed investments - Primary markets NOTE 2016 $

2015 $

- Australian equities 6,294,790 10,286,770

- International equities 102,120 3,414,415

- Interest rate notes 3,046,635 4,602,877

- Preference shares 985,727 1,495,515

Listed investments - Other markets

- Property 404,928 501,574

- Interest rate notes 4,499,085 3,500,975

Unlisted investments

- Unlisted international managed funds 1,486,930 -

16,820,215 23,802,126



NOTE 10: FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT AND LOSS (CONTINUED)

(A) Investments at fair value (continued)

Accounting PolicyAs at 1 July 2014 all Available for sale financial assets (AFSFA) were reclassified as financial assets at fair value through profit and loss. The decision to reclassify the Financial Instruments was due to the following:

Change of investment management

In November 2015 the Society moved investment managers from UBS Wealth to JBWere Wealth Management. No change in accounting policy was required. Under JBWere Wealth Management, international equities are invested through international managed funds. This complies with the Society’s Investment Policy and there is no increase to risk. They are valued by the fund manager using the exchange value of the underlying securities rather than direct from the exchange.

(B) Return on Financial assets at fair value through profit and loss

NOTE 2016 $

2015 $

Recognised in surplus for the year:

- Interest Received 2 470,607 355,432

- Dividends Received 2 744,653 635,540

- Gain/(Loss) on fair value 3 (1,069,569) 898,471

- Recovery of Impaired available for sale financial asset 2 1,591,869 -

1,737,560 1,889,443



(C) Reconciliation of Financial Assets Reconciliations of the carrying amounts of each class of financial asset at the beginning and end of the current financial year are set out below:

NOTE 2016 $

2015 $

Listed investments

- Australian Equities


Additions 4,753,098 19,165,894

Disposals (7,198,760) (15,549,327)

Redemption of investment (594,160) -

Net revaluation increase/(decrease) (952,158) 71,315


- International Equities


Additions 590,962 2,750,000

Disposals (3,360,706) (1,566,949)

Redemption of investment (588,184) -

Net revaluation increase/(decrease) 45,633 629,587


- Listed Interest rate notes


Additions 527,775 4,579,467

Disposals (1,027,505) (4,169,864)

Redemption of investment (1,024,500) -



- Preference Shares

Carrying amount at the beginning of the financial year 1,495,515 500,000

Additions - 1,547,050

Disposals (500,760) (500,000)

Net revaluation increase/(decrease) (9,028) (51,535)




NOTE 10: FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT AND LOSS (CONTINUED)

(C) Reconciliation of Financial Assets (continued)

NOTE 2016 $

2015 $

Listed investments (continued)

- Property

Carrying amount at the beginning of the financial year 501,574 -

Additions 383,189 595,222

Disposals (652,097) -

Redemption of investment 122,400 -

Net revaluation increase/(decrease) 49,862 (93,648)


- Interest Rate Notes

Carrying amount at the beginning of the financial year 3,500,975 100,000

Additions 1,509,420 3,491,985

Disposals (1,497,805) (100,000)

Redemption of investment 1,024,500 -



Unlisted Investments

- Unlisted international managed funds

Additions 1,500,000 -

Net revaluation increase/(decrease) (13,070) -

Carrying amount at the end of the financial year 1,486,930 -

Summary


Additions 9,264,444 32,129,618

Disposals (14,237,633) (21,886,140)

Redemption of investment (1,059,944) -





NOTE 11: TRADE AND OTHER PAYABLES

2016 $

2015 $

Trade and other payables 3,321,780 2,104,978

3,321,780 2,104,978

Accounting PolicyTrade and other payables represent unpaid liabilities for goods received by and services provided to the Society prior to the end of the financial year. The amounts are unsecured and are normally settled within 14-30 days.


Payables in the Statement of Financial Position are shown inclusive of GST. GST paid during the financial year is stated at gross amounts in the Statement of Cash Flows and is included in payments to suppliers.

NOTE 12: INTEREST BEARING LIABILITIES

2016 $

2015 $

Current

Archdiocesan Development Fund Loans 1,117,243 708,478

1,117,243 708,478

Non-current

Archdiocesan Development Fund Loans 9,060,272 6,876,125

9,060,272 6,876,125

The carrying amounts of non-current assets pledged as security are:

Freehold Land and Buildings 15,245,000 11,670,000

The Society has approved loan facility limits with the Archdiocesan Development Fund of $10,977,515 (2015: $8,364,603). The drawn down amount as at 30 June 2016 was $10,177,515 (2015: $7,584,603) with an amount available to draw of $800,000 (2015: $780,000).

This facility is secured by a first mortgage, held by the Archdiocesan Development Fund, over certain freehold properties owned by the Society. A covenant has been imposed requiring all operating funds that are surplus to the Society’s normal day to day requirements, are to be placed on deposit with the Archdiocesan Development Fund. There has been no breach of this covenant.

Accounting PolicyInterest bearing liabilities are initially recognised at the fair value of the consideration received less directly attributable transaction costs. After initial recognition, interest bearing liabilities are subsequently measured at amortised cost using the effective interest rate method.

Financial Liabilities

Financial liabilities, including loans and borrowings, are recognised at amortised cost, comprising original debt less principal payments and amortisation.



NOTE 13: PROVISIONS

2016 $

2015 $

Current

Provision for legal matters 1,541,978 1,553,623

Employee entitlements - annual leave 1,715,474 1,647,879

Employee entitlements - long service leave 969,784 835,186

4,227,236 4,036,688

Non-current

Make good leased premises 487,567 555,409

Employee entitlements - long service leave 792,173 761,421

1,279,740 1,316,830

Key Judgements

A provision has been taken up for a requested refund of Federation Collateralised Debt Obligations (CDOs) issued to the Society in 2009. Liquidators for Lehman Australia are seeking the return of these funds on the grounds that these funds were unlawfully distributed. They are also seeking Interest of 9% p.a. on these funds. As this is now 7 years since the claim arose, no interest has been accrued for 2016 to reflect the reduced litigation risk of the matter (2015: $128,281).

This asset was redeemed in 2010 against impairment in the P&L of $1,000,000. The Society is following due process regarding the requirement to repay the funds, but have taken up a provision of $1,541,978 (2015: $1,553,623) to provide for the likelihood that it is repayable.

Accounting PolicyLiabilities for wages and salaries expected to be settled within 12 months of the reporting date represent present obligations resulting from employees’ services provided up to the reporting date, calculated at undiscounted amounts based on remuneration wage and salary rates that the Society expects to pay as at reporting date including on-costs.

Employee Entitlements

Sick leave is non-vesting and no provision has been made.

The provision for annual leave represents the present value of the estimated future cash outflows to be made resulting from employees’ services provided up to the reporting date. The liability is recognised as current and non-current provisions dependent on the unconditional right to settlement of the liability within 12 months after the reporting date. The provision is calculated using expected future increases in wage and salary rates, expected settlement dates and is discounted using the rates attaching to corporate bonds at reporting date.

The provision for long service leave represents the present value of the estimated future cash outflows to be made resulting from employees’ services provided up to the reporting date. The liability for long service leave is recognised as current and non-current provisions, depending on the unconditional right to defer settlement of the liability for at least 12 months after the reporting date.

The provision is calculated using expected future increases in wage and salary rates including related on-costs and expected settlement dates based on experience of employee departures and periods of service and is discounted using the rates attaching to corporate bonds at reporting date which most closely match the terms of maturity of the related liabilities.



NOTE 13: PROVISIONS (CONTINUED)

Other Provisions

Provisions for legal claims, service warranties and make good obligations are recognised when the Society has a present legal or constructive obligation as a result of a past event, it is probable that an outflow of economic resources will be required to settle the obligation and the amount can be reliably estimated. Provisions are not recognised for future operating losses.

Where the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and, where appropriate, the risks specific to the liability.

NOTE 14: GRANTS IN ADVANCE

2016 $

2015 $

Current

Grants in advance - operational 531,563 232,865

Grants in advance - capital 713,729 769,780

1,245,292 1,002,645

Non-current

Grants in advance - capital 19,750,820 20,443,556

19,750,820 20,443,556

Accounting PolicyGrants are principally of a recurrent or capital nature and intended to fund ongoing operations or asset acquisitions.

Grants received on the condition that specified services are delivered, or conditions are fulfilled, are considered reciprocal. Such grants are initially recognised as a liability and revenue is recognised as services are performed or conditions fulfilled. Revenue from non-reciprocal grants is recognised when the Society obtains control of the funds.

The Society has determined that capital grant income shall be recognised over the term of the agreement where the terms of the grant include service requirements and other conditions. As the conditional agreement extends to the life of the agreement (20 to 40 years) the Society has determined that the capital grants will be initially recognised as a deferred income liability and amortised to capital grant income over the period of the agreement.



NOTE 15: EQUITY

NOTE 2016 $

2015 $

Property Revaluation Reserve 7,886,911 7,941,911

Accumulated Funds 69,088,120 64,147,681

76,975,031 72,089,592

Accounting Policy

Property revaluation reserve

The property revaluation reserve records increments and decrements on the revaluation of individual parcels of land and buildings when revaluations have been performed previously. When individual parcels of land and buildings are sold, any balance in the revaluation reserve pertaining to those land and buildings is transferred to accumulated funds. Transfers for land and buildings sold during the year amounted to $55,000 (2015: $NIL).

NOTE 16: CONTINGENT ASSETS AND CONTINGENT LIABILITIESThere are legal proceedings in place relating to the default of the Collateralised Debt Obligations (CDOs) held, which has been provided for. Refer Note 13 Key Judgements for details.

NOTE 17: COMMITMENTS

Operating lease commitments payable

Future minimum lease payments due on non-cancellable property operating leases:

NOTE 2016 $

2015 $

Property - Operating Leases

Not later than one year 2,677,637 2,848,778

Later than one year but not later than 5 years 2,972,320 3,327,406

5,649,957 6,176,184

Accounting Policy

Leases where the lessor retains substantially all the risks and benefits of ownership of the asset are classified as operating leases.

Operating lease payments are recognised as an expense in the profit or loss on a straight-line basis over the lease term.



NOTE 18: NOTES TO THE STATEMENT OF CASH FLOWS

(A) Reconciliation of CashCash at the end of the financial period as shown in the Statement of Cash Flows is reconciled to the related items in the Statement of Financial Position as follows:

NOTE 2016 $

2015 $

Cash on Hand 5 41,332 48,297

Cash at Bank 5 10,260,391 4,392,850

Term Deposits 5 5,245,635 1,217,272

Balance per Statement of Cash Flows 15,547,358 5,658,419

(B) Reconciliation of cash flow from operations with the net surplus

NOTE 2016 $

2015 $

Net Surplus 4,885,439 5,800,735

Non-cash flows in operating surplus

Depreciation 9 (A) 3,689,735 3,468,885

Net (gain) on sale of fixed assets 2, 3 (286,901) (89,858)

Net loss/(gain) on sale of financial assets at fair value through profit and loss

2 1,069,569 (898,471)

Other non-cash items (729,720) 73,325

Changes in assets and liabilities

(Increase)/decrease in trade and other receivables 955,723 258,007

(Increase)/decrease in other assets 441,801 (95,821)

(Increase)/decrease in inventories 48,381 (21)

Increase/(decrease) in trade and other payables 1,216,803 (2,030,508)

Increase/(decrease) in provisions 153,458 (498,018)

Cash flows from operations 11,444,288 5,988,255



NOTE 19: FINANCIAL RISK MANAGEMENT

General Objectives, Policies And ProcessesIn common with similar organisations, the Society is exposed to risks that arise from its use of financial instruments. This note describes the Society’s objectives, policies and processes for managing those risks and the methods used to measure them.

There have been no substantive changes in the Society’s exposure to financial instrument risks, its objectives, policies and processes for managing those risks or the methods used to measure them from previous periods unless otherwise stated in this note.

The principal financial instruments from which financial instrument risk arises:

• Cash and cash equivalents; • Trade and other receivables; • Trade and other payables; • Interest bearing liabilities; and • Financial assets at fair value through profit and loss.

The State Council has overall responsibility for the determination of the Society’s risk management objectives and policies.

(A) Credit RiskCredit risk is the risk that the other party to a financial instrument will fail to discharge their obligations resulting in the Society incurring a financial loss. This usually occurs when debtors or counter parties to contracts fail to settle their obligations owing to the Society.

The maximum exposure to credit risk at balance date, without taking into account the value of any collateral or other security, in the event other parties fail to perform their obligations under financial instruments in relation to each class of recognised financial asset at reporting date is the carrying amount of those assets as indicated in the Statement of Financial Position and is as follows:

NOTE 2016 $

2015 $

Cash and cash equivalents 5 15,547,358 5,658,419

Trade and other receivables 6 870,443 1,938,676

Financial assets at fair value through profit and loss 10 16,820,215 23,802,126

33,238,016 31,399,221



NOTE 19: FINANCIAL RISK MANAGEMENT (CONTINUED)

(A) Credit risk (continued)

Cash and cash equivalents

Cash and cash equivalents are deposited with the Commonwealth, Westpac, ANZ, National Australia and Macquarie Banks, various Queensland Catholic Development Funds and various small financial institutions throughout regional Queensland.

Trade and other receivables

Within trade and other receivables the federal and state governments are the largest debtors through GST and government funding receivables. The Society’s no interest loans scheme has outstanding receivables of $375,195 (2015: $442,361). Credit risk associated with trade and other receivables is monitored by the monthly review of trade debtor listings.

Financial assets at fair value through profit and loss

The Society’s financial assets at fair value through to profit or loss are disclosed in Note 10. No one investment product is greater than 6% of the portfolio at the time of investing. Investments are diversified and are exposed to defensive and growth assets.

Listed interest rate securities consists primarily of Australian hybrid securities such as convertible notes and types of preference shares that provide a return based on quoted interest rates.

The Finance Committee has been formed to manage the risk and return of the Society’s financial assets in line with the National Investment Policy.

Up to 30 June 2016 the Finance Committee employed independent advisors, who manage the Society’s investments in line with State Council’s approved investment policy which adheres to the National Investment Policy. They have reported monthly to management and quarterly to the Finance Committee.

Risk is managed by monthly reviews of investment holdings, policy compliance, economic updates and reviewing the long term cash needs of the Society. The committee monitors the quality of investments taking into consideration areas such as credit ratings, returns and investment objectives.

All Lehmans CDOs have either matured or been impaired as at 30 June 2016. The details are as follows:

Liquidation of Lehmans AustraliaThe Society made a claim of $1,848,326.41 in August 2015. Dividends/settlement payments received to 30 June 2016: $1,591,869 (86.12% claim recovery). A further dividend is anticipated but the amount and timing have not yet been determined by the liquidators.

Federation Notes disputeLehmans US is attempting to recover payment of $1,000,000 investment redeemed by the Society in 2008. The action includes a claim for payment of interest and costs. The Society was joined as a party to the recovery proceedings in 2014. Limited steps have been taken and in the interim is being monitored by the Society’s legal advisors. Refer Note 13 Key Judgements for details.



NOTE 19: FINANCIAL RISK MANAGEMENT (CONTINUED)

(b) Market RiskThe Society does not have any material exposure to market risks other than interest rate, price and currency risks.

The policies and procedures for managing price risk are similar to those for managing credit risk as detailed in Note 19(B)

Interest Rate Risk

Interest rate risk arises from the use of interest bearing financial instruments. It is the risk that fair value for future cash flows of a financial instrument will fluctuate because of changes in interest rates.

The Society monitors its interest rate exposure continuously. Total financial assets that earned interest at a floating rate is $24,078,805 as at 30 June 2016 (2015: $13,672,271). Total financial liabilities that are charged interest at a floating rate are $10,177,515 as at 30 June 2016 (2015: $7,584,603).

Price Risk

The Society invests in publicly traded investments including listed equities, unlisted managed funds and bonds and in doing so it exposes itself to the fluctuations in price that are inherent in such a market. Any investment decisions must be approved by the board. To limit its price risk, the Society holds a diversify portfolio and the Board makes investment decisions on advice from professional advisors.

Currency Risk

The Society is exposed to currency risk in relation to its investments in international investments. To limit its currency risk the Society monitors currency movements and the impact on fair values of investments before any redemption transactions are made.

The Society’s exposure to price and currency risk is detailed in Note 10.

NOTE 20: EVENTS SUBSEQUENT TO REPORTING DATE

With the exception of the below matters there are no other post balance date events to report.

Ozcare

On 1 Sept 2016, pursuant to a 2011 legal settlement, the Society became entitled to exercise its rights as sole member of Ozcare. Subject to identified regulatory constraints, the Society will maintain capacity to direct key strategic and key operational decisions of the Ozcare Board. This capacity relates to the Society’s strategy, mission and values that impact on the financial or other operational activities of the Society. No funds were paid to acquire control over Ozcare.

Ozcare is a public company limited by guarantee and employs over 3000 people. It provides a wide range of programs and services for the aged, those with disabilities and disadvantaged through its network of 60 locations throughout Queensland. Further detail is available on their website http://www.ozcare.org.au.

The State Council is currently completing a financial and operating assessment of the impact of this event for the Society, including a detailed review of the asset carrying values and accounting policies adopted by Ozcare. At the date of this report, the assessment is not complete, but the outcomes will be significant for the Society. The audited results of Ozcare for the year ended 30 June 2015 disclose total revenue of $224m and net assets of over $300m. There is no current intention to significantly change any of the programs or services offered by Ozcare.



NOTE 21: RELATED PARTY TRANSACTIONSThe names of persons who were State Councillors of St Vincent de Paul Society Queensland at any time during the financial year are as follows:

FOR THE PERIOD: DURING PERIOD:

John ForrestRon Sullivan Robert Leach Annette BakerPeter DriverIan LahertyNoel SweeneyJohn ElichMike Ryan Dennis InnesBrian Headford

June Chandler (resigned February 2016)Catherine Lutvey (resigned February 2016)Matt Nunan (commenced September 2015)Matthew Kirkham (commenced March 2016)John Harrison (term completed March 2016)Larry Mann (commenced March 2016)Joe De Pasquale (term completed May 2016)Peter Madden (commenced May 2016)

No State Councillor has entered into a material contract with St Vincent de Paul Society Queensland since the end of the previous financial year and there were no material contracts involving State Councillors’ interests subsisting at year end. State Councillors may have family members or relatives who utilise the services that St Vincent de Paul Society Queensland provides. Such transactions are conducted at arms length.

Other key management personnel were:

Peter Maher Chief Exectutive OfficerAnna Aubrey General Manager - Operations Resigned 25/7/2015Cassandra Ashton General Manager - Operations Appointed 31/8/2015 - Executive Officer, South Coast Diocese Resigned 31/8/15Deborah Nisbet Chief Financial OfficerJoe Duskovic Corporate Secretary & Legal Services ManagerKirstin Hinchliffe Human Resource Manager (returned from maternity leave January 2016)

State Councillors do not receive any direct remuneration, however a reportable fringe benefit does exist on motor vehicle usage and is included in the figure below.

Key management personnel remuneration includes reportable fringe benefits on motor vehicles supplied.

2016 $

2015 $

Remuneration including reportable fringe benefits on motor vehicles

# 764,344 2,755,849

The bands of remuneration (including reportable fringe benefits) are as follows:

RANGE 2016 2015

$0-40k 11 17

$40-80k 0 0

$80-120k 0 1

$120-160k 1 9

$160k and above 5 7

# Reassessment of Key Management Personnel based on the Accounting Standards definition identified only 6 (2015: 17) who had key strategic influence. The banding information summarises the annualised rates of the key management personnel and is not the actual amount paid.



NOTE 21: RELATED PARTY TRANSACTIONS (CONTINUED)

Intra-Society

Brought to account in arriving at the surplus for the year are net intra-society payments of $717,000 (2015: $671,092). Intra-society payments and receipts are payments made to and funds received from the Society of St Vincent de Paul outside Queensland.

The net intra-society payments is made up of intra-society payments of $669,250 (2015: $668,592) to the National Council of St Vincent de Paul Society, including payments for special projects of $230,682 (2015: $264,078) and levies of $438,568 (2015: $407,014), and payment to Tasmania for their Disaster Appeal of $50,000 (2015: Nil). Receipts of $2,250 (2015: $2,500) have been received from State Councils of St Vincent de Paul Society throughout Australia for the natural disaster in Queensland.

Ozcare

There have been no transactions with Ozcare during the financial year (2015: NIL). Refer to note 20 for information on the current relationship with Ozcare.



YOU CAN RESTORE HOPE FOR PEOPLE WHO HAVE LITTLE ELSEMake a financial donationThe Society’s major lifeline has been the generous financial assistance our loyal donors have given over the years. This support assists the many activities undertaken by the Society. Donations can be directed to a specific special work or general works. You can make a secure donation online or by calling 13 18 12.

Join Helping HandsThe ‘Helping Hands’ program allows donors to make a periodical commitment to the work of the Society and receive only one tax-deductible receipt each year.

Membership and volunteerBecome a member of a conference or volunteer your time to assist people in need in your community.

Workplace givingIndividuals or groups of employees can take part in this program by donating a small amount each fortnight, which is deducted from employee’s salaries by their payroll department, and then forwarded to the Society.

Corporate collaborationIf you are a business looking to partner with a charity, you can contact the State Administration Office to discuss ways in which your company can support one of Australia’s largest and most respected charitable organisations.

Donating goodsDonations of quality second hand clothing, furniture and household goods can be made at any Centre of Charity, or collected by contacting your local Vinnies Donation line.

Gifts in willsYou can support those in need by making a bequest to the Society in your Will. Through remembering the Society in your Will, you will ensure your legacy lives on through the assistance your generosity provides.

Be a part of our online community at www.facebook.com/vinniesqld www.vinnies.org.au

To discuss any of these opportunities to support Vinnies Queensland and help us to provide hope to those who need it most, please call the State Administration Office on (07) 3010 1000 or visit www.vinnies.org.au/qld.

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