Chair’s Report
KU respectfully acknowledges the
traditional owners of the many lands
on which our services are delivered.
The contribution by Aboriginal and
Torres Strait Islander people to the
education of young children existed
long before our story began.
For more than 120 years KU has responded
to the changing needs of families, and
more recently, the competitive nature of
the childcare market. As the custodians of
KU – today and into the future, the Board’s
responsibility is to shape an organisation
that meets our families’ needs and ensures
the delivery of high quality education for
generations to come. A small operating deficit in 2014 led the
Board and Management to focus on
realigning KU’s operating model, shifting
the organisation into a more financially
sound position, and underpinning KU’s
financial sustainability in the long term.
To this end - the Board and Executive
committed to a Return on Revenue target
annually of between 3 and 4.5%.
This Annual Report presents a challenging
and rewarding chapter in KU’s journey -
delivering the Strategic Plan 2013 to 2016:
Building on the KU Difference, to ensure a
strong, sustainable KU that is well equipped
for the years ahead. Our commitment to surplus allows us to
invest in high quality educational programs
that deliver exceptional results for children
and their families, and alongside KU’s
continued investment in social impact
outcomes, reaching and supporting the
most vulnerable children. Delivery of this
surplus will have KU well positioned to
continue innovating, leading and evolving
the organisation.
Our achievements over the past four years
have been many, and 2016 was no exception.
Our programs and services lead the sector’s
quality standards by an enviable margin.
We continue to train, develop and retain
the best educators in the country, and
we continue our commitment to social
inclusion, launching in 2016 the KU
Reconciliation Action Plan.
121st Annual Report 2016
Following a sound financial result in 2015,
we are pleased to again report a surplus
in 2016 alongside our commitment to
reinvest that surplus in accordance with our
values and strategic priorities.