KU Financial Report
Directors’ Report
The Directors present their report on KU Children’s Services for the financial year ended 31 December 2011. In order to comply
with the provisions of the Corporations Act 2001, the Directors report as follows:
Operating Result and Cashflow
The net surplus of KU Children’s Services for the financial year ended 31 December 2011 was $2,055,973 (2010: $291,793)
representing a 2% net margin on revenue after applying losses on investments the comprehensive income for the year was
$1,424,358 (2010: $351,716).
The company utilised $5,754,732 of cash reserves during the financial year ended 31 December 2011 (2010: $10,981,428)
reflecting KU Children’s Services continued reinvestment in centres and delivery of services against specific grants.
Short and long term objectives of the company
KU Children’s Services continued to implement our Strategic Plan 2007 to 2012 “Making the KU Difference” which is detailed
in the Annual Report for the year ended 31 December 2011.
Our Vision
Every family is able to access affordable, high quality early childhood education and care for their children.
Our Objectives
(1) Become the most preferred provider of early childhood education and care services
Strategies:
• Increase the quality of our early childhood education and care services,
• Increase the affordability of early childhood education and care services
• Increase the number, type and geographic spread of financially viable programs and services
(2) Become the most trusted and respected adviser to families, communities, educators, the media and policy makers on early
childhood education and care
Strategies:
• Ensure the KU brand is recognised as “the best there is” in early childhood education and care
• Ensure policies, practices and advocated positions are based on best practice and sound research
(3) Become the “employer of choice” in early childhood education and care
Strategies:
•Increase the capacity of the KU workforce to make “the KU Difference”
• Nurture our culture of trust, respect, dignity and safety in the workplace
• R
ecognise, value and reward staff for performance, innovation, risk taking and actions and initiatives that make “the KU
Difference”
• P rovide innovative, flexible, people-friendly terms and conditions of employment that meet the needs and expectations
of KU staff
• Provide safe, attractive, well-resourced, environmentally responsible work places
Principle activities of the company
The principle activities of KU Children’s Services during the current year have been the provision of early childhood education
and care services.
Performance measurement
The Annual Report of the company details the achievements and performance over the past year measured against the
strategic goals. KU Children’s Services continued to achieve and perform strongly when measured against these strategic
goals. Our key performance indicators are utilisation, staff turnover and financial performance of individual services.
Company Limited by Guarantee
The company is incorporated as a company limited by guarantee. In accordance with the Constitution every member of the
company undertakes to contribute to the assets of the Company in the event of it being wound up, while he/she is a member or
within one year after he/she ceases to be a member, the sum of $2. The company has 6,489 members (2010: 6,428 members).
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KU Children’s Services