Berry Street Web Docs Financial Report 2013 | Page 24
BERRY STREET VICTORIA INC.
ABN 24 719 196 762
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2013
NOTE 16: CASH FLOW INFORMATION
(a)
Non-cash financing and investment activities
The were no non-cash financing activities during the year ended 30 June 2013
(b)
Credit stand-by arrangement and loan facilities
There were no credit stand-by arrangements or loan facilities at 30 June 2013.
NOTE 17: KEY MANAGEMENT PERSONNEL COMPENSATION
Short-term benefits
Salary and fees
$
Long-term benefits
Superannuation
contribution
$
Long service
leave
$
Total
$
2013
Total compensation
647,108
63,723
217,189
928,020
2012
Total compensation
570,985
56,198
216,080
843,263
NOTE 18: CONTINGENT LIABILITIES
Included in Land and Buildings are three residential properties which were purchased in prior years with
grants from the Department of Human Services, totalling 50% of the original purchase prices. A liability
th
exists to pay the Department 50% of the net proceeds of sale when realised. Based on the 30 June 2012
valuations of those properties, it is estimated that a contingent liability exists for $1,085,000 in the event of
sale.
Following the establishment in January 2013 of the Royal Commission into Institutional Responses to Past
Child Sexual Abuse requests made of child welfare agencies from past clients for reparations, support and
assistance have generally increased.
Should requests for reparations, support and assistance arise, they will be assessed at the time. As
such, no reliable estimate can be made of any costs, legal or otherwise that may be incurred in resolving
these requests.
NOTE 19: 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)
Berry Street Victoria is in partnership with Mindful and LaTrobe University to deliver the statewide
Take Two Program.
(b)
Board member Kate Jenkins is a partner of Her