By BEN CAMERON
OUTLOOK is well-placed to address economic challenges, posting a $700,000 surplus in a record-breaking last financial year.
At the disability support service’s annual general meeting last week, treasure Peter Link said the price deregulation of the National Disability Insurance Scheme would create challenges in the future.
He said it was pleasing cash reserves ($1.8m) had remained healthy, which would be available for “anticipated costs associated with Outlook’s preparations for the introduction of the NDIS”.
Outlook increased its surplus by almost 300 per cent on last year, returning $703,701 for the past financial year compared to $180,921 in 2012-’13.
“The 2014 financial results were very good indeed,” he said.
“However our deficit can shift quickly if government grants dry up.
“We are well-placed to address these challenges.
“Labour remains our main expense item at 56 per cent of all annual expenses.”
Deputy chief executive officer Anne McCormick said it had been a record breaking year for Outlook with a record number of volunteers (70), while 53 job seekers with disabilities found jobs in just two months across Casey and Cardinia.
Financial reports revealed Outlook’s biggest income stream was its Outlook Environmental division (61 per cent) and government grants (31 per cent).
Operating revenue increased by 7.5 per cent while expenses increased by 2.8 per cent.
