KU Annual Report 2010 - Page 5

Families 6000 Children 2010 Members Chief Executive Officer 2008 15000 12000 6000 3000 Service Type: Services / *Licenced and other places 9000 2009 Chairman, Board of Directors Sheridan Dudley KU Service Summary 12000 2008 David Bryant KU Family Profile 15000 9000 Most importantly, financial sustainability will enable us to continue finding the balance between the cost of providing high quality early childhood education and care, and affordability. A key issue for the Board and Management is KU’s financial sustainability, which will mean we can continue to grow, making the KU Difference for more children and families, and that we can continue to support inclusion and diversity, of both the children within our centres, and the staff within our team. It also means we have enough reserves to ensure KU can weather any tough times that may occur in the future. 2010 has been a year of both change and consolidation and none of this could have been achieved without the efforts and passion of our wonderful staff in our centres, in our support and inclusion programs, and in Central Office. The KU Board and Management would like to publicly acknowledge their contribution. KU’s long-term stability and strength has seen our continued growth and successful operation in 2010 and we look forward to a rewarding year ahead. 13,853 KU has continued to expand during the year. Little Stars at Bourke, our second centre for the National Australia Bank, opened in Melbourne in January 2010 and in July we opened the new Commonwealth-funded KU Marcia Burgess Autism Specific Early Learning and Care Centre in Liverpool. The Board took the opportunity to add KU funds to this project to rebuild KU Liverpool Preschool as part of the new integrated centre on this site. As well, we commenced the construction of KU Queanbeyan South Early Learning Centre, also funded by the Commonwealth Government. KU’s financial result for 2010 was total reported deficit of $1,178,344 which includes an adjustment of $1,220,110 relating to the Workers Compensation Premium for the 2010 calendar year. This was a disappointing outcome in a year during which we otherwise managed our operations largely within budget parameters. Preschools continued to perform strongly however the long day care centres did not perform as well as expected. There has been considerable centre analysis, business planning and action on workers compensation to ensure a better result in 2011. 12,053 were disappointed that the NSW Labor Government discontinued this funding at the end of 2010. 2009 0 2010 Preschools (including mobiles): 93 / *2987 Children Families Members KU Managed Services: 16 / *862 Community Based Long Day Care: 20 / *931 Out of School Hours: 2 / *125 Vacation Care: 2 / *180 Occasional Care: 3 / *95 Family Programs: 7 / *480 AMEP: 7 / *428 Staff (FTE) Total: 150 / *6088 3000 0 Staff (FTE) 115th Annual Report 2010 5