VSS Annual Report 15-16 VSS Annual Report 15-16 | Page 29

FINANCIAL SNAPSHOT Summary of Income and Expenses Type of Income (2015/16) Type of Expenses (2015/16) Employment Expenses 69% AGD 53% Client Expenses 11% DCSI 19% Admin/Operating Expenses 11% OfW 15% DSS 11% Communication Expenses 6% Investment 1% Travel and Accommodation 3% Other 1% Volunteer 0% Revenues in 2015-16 increased by 13 per cent to $3.7 (against a backdrop of no increase in funds from the Attorney- General’s Department (AGD) through the Victims of Crime Fund since 2001). This is significantly ahead of our strategic target to get to $3.4 million by 2017, with revenues in 16-17 budgeted at over $4 million. Expenses increased proportionately, but one of the issues we are conscious of is that expenses, especially salaries, will increase by more than the rate of Consumer Price Index over the next four years, yet our funding from the AGDs has for many years been set at CPI. So, at the very time when we are seeing a significant increase in demand for our services, in real terms our resources are set to shrink. One way to offset this is to bring in alternative funding sources and in 2015-16, for the first time in our history, VSS received more funding through other sources than through the Victims of Crime Fund. Our small Operating Deficit of $14,000 in 2015 was due to investment in some strategic projects, including a new case management system, whilst our assets performed in line with the market. Summary of Statement of Financial Position 2016 ($) 2015 ($) Current Assets 403,290 467,418 Non-Current Assets 557,186 534,835 Total Assets 960,476 1,002,253 Current Liabilities Non Current Liabilities Total Liabilities 467,627 9,279 476,906 463,800 6,609 470,409 Net Assets 483,570 531,844 28 Overall, the organisation is in a good financial position which is enabling the Board and management team to deliver on their key strategic goals of improving services for victims, investing in staff, and building our advocacy and research capabilities.