P5 - OH is a Sustainable, Vibrant and Innovative Organisation Accountable To Its Communities and 1 more...less...

Financial Management

(P5) % Return on Financial Equity

10.50%Feb 2019

Line Bar
Story Behind the Curve

November 2018 Report for YTD October 2018.

The completion of the annual financial audit enabled the organisation to finalise the financial position for the Trust for 2017-2018. The end result was reported at the OHCT Annual Community meeting held in October 2018. The change in position between May and July 2018 was due to a combination of the

  • correction of income recognised earlier, being recoded to 'income in advance' on the balance sheet 
  • programme expenditure 
  • one off performance payments made to staff for the 2017-2018 financial year.

The return on financial equity reported is derived as a percentage of YTD income/Equity. The careful monitoring of the actual revenue and expenditure against the budget continues to ensure a positive result.  

Partners

Funders, Staff and Management and Providers

What Works
  • Ensuring all programmes and services delivered by Otara Health cover all direct labour and project resource costs, while making a contribution to meeting the organisation's indirect cost.  
  • Regular and timely monitoring of all income and expenditure transactions made
  • Ensuring all new and existing project activities are accounted for against the operational budget
  • Ensuring the financial controls are sufficient and strictly adhered to
  • Delivering on contractual commitments and specifications as expected by funders
  • Continuously seeking funding appropriate to the organisations goals, capacity and capability 
Action Plan
  • Apply for lotteries funding to off set the expected shortfalls with the HIPPY programme
  • Lift the value of the delivery for the Kaitohutohu and CC contracts to resecure both past June 2019
  • Transfer business financial software from MYOB to XERO to improve job cost management capacity
  • Apply for philanthropic funding to supplement the CC funding currently supporting the Thriving Otara movement
Scorecard Result Container Indicator Measure Action Actual Value Target Value Tag S R I P PM A m/d/yy m/d/yyyy