The 2024-25 financial year marked a successful turnaround, delivering a surplus of $867,050 after a challenging prior year. This result reflects continued growth, prudent financial management, and effective strategic investments made to expand capacity and enhance service quality for our community. Financial Performance Overview Total revenue for the year reached $9.5 million, boosted primarily by a significant increase in Home Care Packages (HCP) revenue of $7.04 million, up from $4.85 million the previous year. This growth was driven by increased client intake and stable government funding support. The Commonwealth Home Support Program (CHSP) provided additional revenue of $1.05 million, while the National Disability Insurance Scheme (NDIS) segment at $835,000 showed signs of stabilising after prior declines. Despite inflationary pressures affecting operational costs, the organisation managed expenditure carefully at $8.63 million, up from $7.4 million in 2023-24. Workforce-related costs including salaries, wages, and superannuation represented around 70% of total expenses, highlighting our commitment to supporting employees and registered service providers directly engaged in care delivery. Balance Sheet and Financial Position The organisation’s financial position strengthened substantially during 2024-25, with total assets recorded at $3.28 million and net assets nearly doubling to $1.7 million. Cash reserves grew significantly, ending the year at $1.44 million, providing strong liquidity to support operational and strategic initiatives. Key infrastructure investments included right-of-use assets and property improvements, supported by a new lease arrangement for premises at 52 Liverpool Street, Port Lincoln. This lease, commencing in late 2025, positions West Coast Community Services well for service expansion and operational efficiency improvements. Strategic Initiatives Workforce growth remained a strategic priority with ongoing recruitment and development programs ensuring the organisation is equipped with skilled clinical staff and team leaders to meet rising demand. Technology investments also enhanced scheduling, consumer engagement, and data management capabilities. The organisation prioritises effective governance and compliance, ensuring all services meet regulatory requirements and quality standards, while maintaining financial discipline. These efforts underpin our sustainability and ability to reinvest in community services. Looking Ahead West Coast Community Services Incorporated enters 2025-26 with optimism. Key focus areas include continuing to grow service capacity, expanding client access through the new premises, and further strengthening workforce stability. The organisation plans to maintain operational surpluses to enable reinvestment in service quality and community support. With a robust financial foundation and clear operational goals, West Coast Community Services is well-positioned to deliver compassionate, high-quality aged care and disability services that positively impact lives and local economies. Shane Porter Executive Manager Finance & Corporate Services West Coast Community Services Incorporated FROM THE EXECUTIVE MANAGER 28
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