ANNUAL REPORT 2019
2019 has been a demanding and rewarding period of success and transformation.
KU
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The scale and diversity of KU’s
operations were reflected in 2019
with revenues of over $135m.
Although financial performance was
below the prior year, KU continues
to maintain large cash reserves and
is operationally cashflow positive,
with a surplus in 2019 of more than
$900k. This surplus was achieved
after reinvesting $3.39m in our
key strategic priorities and social
impact activities.
KU remains committed to the safety
and wellbeing of all the children in
our care. In 2019, KU extended on
our already rigorous child wellbeing
policies and processes, to develop
and launch a comprehensive suite
of Child Safe resources in response
to the Commonwealth Child Safe
Framework. These resources include
a Child Safe Policy, Child Safe
Statement of Commitment and
a Child Safe in Practice resource
folder, and provide vital information
to guide and inform early education
practices and underpin KU’s position
as a Child Safe organisation.
A focus on expanding our reach
resulted in the growth strategy in
Victoria exceeding our expansion
targets, with the purchase of three
new sites at Maidstone, Newport
and Heidelberg. In addition, KU’s
profile in Victoria is increasing
with representation on Victorian
Government committees and sector
forums; an increase in our capital
investment; recognition of the
Professional Learning Program; and
our increased presence in Victoria
with our Fitzroy office.
Expansion in New South Wales has
been steady with the establishment
of two new CBA centres, Honey
Bird and The Nest, and the
re-establishment of KU Ashmont
Preschool and Family Centre in Wagga
Wagga under the management of KU.
The 2017-2019 IT roadmap was
successfully implemented by the end of
2019, including the commencement
of the Human Resource Information
System to streamline human resource
processes, implementation of WHS
training modules, enhanced cyber
security systems and the QikKids enrol
module pilot completed and ready for
roll out to our long day care services.
KU continued to increase activities to
achieve our social impact with over
$1.81m re-invested in this area. The
KU Marcia Burgess Foundation was
expanded, and a fundraising strategy
was successfully implemented, with
plans to accelerate activities in
2020 to increase our commitment
to social impact. The KU Starting
Points program transitioning to
NDIS continued to be a challenge,
with many children on a waiting
list for their NDIS plan, and KU
continues to advocate in this area
to improve outcomes for children
with additional needs.
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