Berry Street Web Docs Financial Report 2009 | Page 28

BERRY STREET VICTORIA INC.
ABN 24 719 196 762

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2009

NOTE 18: KEY MANAGEMENT PERSONNEL COMPENSATION
Short-term benefits
Superannuation
Salary and fees
contribution
$
$

Long-term benefits
Long service
leave
Total
$
$

2009
Total compensation

503,794

49,615

154,665

708,074

2008
Total compensation

467,602

46,038

132,717

646,357

NOTE 19: CONTINGENT LIABILITY
Included in Land and Buildings are three residential properties which were purchased in prior years with grants
from the Department of Human Services, totaling 50% of the original purchase prices. A liability exists to pay
the Department 50% of the net proceeds of sale when realised. Based on the current valuations of those
properties, it is estimated that a contingent liability exists for $937,500, in the event of sale.

NOTE 20: RELATED PARTY TRANSACTIONS
Transactions between related parties are on normal commercial terms and conditions no more favourable
than those available to other persons unless otherwise stated.
(a)

Board member Dr Neil Coventry is a Director of Austin CAMHS. Austin CAMHS has provided
consultancy services to the value of $36,000.

(b)

Berry Street Victoria is in partnership with the Austin CAMHS, Mindful and LaTrobe University to deliver
the statewide Take Two Program.

(c)

Board member Kate Jenkins is a partner of Freehills which from time to time provides pro-bono work to
Berry Street Victoria.

26