2014/2015 Annual Report
Trading as the Russian Relief Association of St Sergius of Radonezh
The Russian Relief Association values caring for our residents with respect, trust, quality care, exceptional staff and management.
Our Vision Statement ...................................... 2
Board of Directors .......................................... 3
President’s Report .......................................... 4
Vice President’s Report ................................ 5-6
Treasurer’s Report .......................................... 6
Organisational Chart ........................................ 7
Management ............................................... 8-9
Internal Audit Committee Report .................. 10
Report from the Director of Care ............. 11-12
Report from the Finance Manager ........... 12-13
Maintenance Report – IT/ Technology ...... 14-15
Dementia Care .............................................. 15
Palliative Care ................................................ 16
Physiotherapy ............................................... 17
Staff Education ........................................ 18-19
Work Health and Safety ............................ 19-20
Day Care Report ....................................... 20-22
Leisure and Lifestyle ................................. 22-23
Employee of the Month ................................ 24
Financial Statements ..................................... 26
Caring for people St Sergius has a philosophy that we
apply and believe that every person
has a value and each individual must
be treated with respect and dignity.
This same philosophy is adopted to all
residents and their families and friends
and also to our staff. This encourages
everyone to work together. With
looking after each other in the way
we do this in turn results in happier
residents and high retention of staff.
Contents
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2014/2015 Annual Report
Our Vision Statement
Our Vision
The Board of Management of Russian Relief
Association of St. Sergius of Radonezh is
committed to achieving the highest possible
standards of care for our residents in the
tradition of their heritage and culture.
Our Philosophy
In providing care for the aged and infirmed
persons of the highest possible quality we
are inspired by the principles of the Christian
benevolence. We aim to provide a lifestyle for
our residents in the traditions of the Russian
Culture and the rites of the Russian Orthodox
Church. We believe that growing old is a
further stage of development, which should be
approached with dignity and confidence in one’s
ability to achieve the full potential that is possible
for this time of life. At the same time, we
recognize and accept the notion that all residents
irrespective of their physical, emotional, mental
state or denomination have the same right as
all Australian citizens and should be treated
with utmost care and consideration. Their sense
of personal dignity and self respect should be
maintained at all times.
Values
• Striving to understand another person’s
experience, being aware of their feelings,
their discomfort and suffering, and being
motivated to respond.
• Upholding the right of every individual
to be held in positive regard, to be
treated with dignity and in a way that
acknowledges their full human potential.
• Achieving and maintaining the optimum
standard of service in every area through
continues quality improvement.
• Demonstrating willingness to contribute in
full, and to cooperate with one another to
achieve our shared vision for the future.
• Acting with fairness and openness in such
a way that individual and organizational
values are displayed through our facility.
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Objectives
• To create a homelike atmosphere to which
our residents have been accustomed at
home by providing specific home style
cooked meals, observance of religious
feasts and other customs relating to
Russian culture.
• To maintain the highest standard of nursing
care, meeting physical, psychological,
spiritual and emotional needs of residents
in a professional and safe manner.
• To treat residents with kindness and
dignity and maintain quality of life at the
highest level.
• To provide an atmosphere where mutual
respect exists between staff and residents.
• To enable residents to maintain their
independence, privacy and individuality,
yet encourage them to take an interest in
daily activities.
• To implement recreational and social
programmes to met the individual needs
of residents.
• To provide in-service training and
opportunities for external education for
staff development.
• To offer our support to relatives and friends
and help them come to terms with the
changed circumstances.
Board of Directors
Board Members:
President ....................................... Mrs I.B. Ryan
First Vice President .....................Mr A.S. Hughes
Second Vice President ...................Dr A.F. Pesce
Hon. Treasurer ................................Mr N.B. Ostin
Hon. Secretary.....................Mr N.M. Serebriakov
Directors ................................Mr V.M. Ignatenko
.................................................... Mr E.B. Aleshin
..................................................Mr M.M. Dubinin
.................................................Mr N.N. Pitchuev
.................................................. Dr A.V. Newfield
People are our most important resource.
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2014/2015 Annual Report
President’s Report 2014-2015Our association started by humble, traumatised Orthodox Russian migrants from China and Europe in 1945 has grown into a professional organisation with specialised staff working
round the clock to provide expert care for our residents.
In this year of our 70th anniversary I think it is appropriate to pay tribute to my predecessors. Those idealistic and strong people had foresight, unfailing dedication and passion for the Russian people and culture. Little did they know that they would be making such an enormous contribution to our community and making history in Australia and elsewhere. As far as I know there is no other facility like it. St Sergius Aged Care is an organisation that is a leader in its field and one that our community can rightly be proud of.
The modern concept of ‘person centred service’ has always been in practice here. It means fitting the service to the individual and not the other way around, it means kasha rather than corn flakes and balalaika before Billy Joel. We have delivered culturally appropriate care, we have celebrated Orthodox feasts and are further introducing pilot programs which will further improve the quality of the residents’ lifestyle, keep them more mobile and interested in the world around them. The Samovar Cafe has undergone further improvements and the delicacies produced on the premises are a great source of joy to visitors and residents. We realise that mobility is an issue for a lot our people, so we have acquired a larger bus with hydraulic lifters for wheelchairs to
increase the number of outings. Similarly we have increased the number of concerts and introduced the festivals of Krasnaya Gorka and Yolka. We have worked on a scented garden, so that a walk in the fresh air means enjoying colourful and beautiful plants without venturing too far.
Our staff speak Eastern European languages to ensure that our residents are understood and their needs are met. I have often heard from our long serving members of staff that St Sergius is like home to them too, great to hear given that we all could find ourselves here in our twilight years or unfortunately for some, even earlier. Dementia is a growing problem all around the world and we are planning for our expansion.
None of the above could have been possible without the support of the Board, management and staff. All bar none are passionate about their work and I thank them for it.
We retained the general Health Department and our first Day Care Accreditation with flying colours.
The organisation is in a very healthy financial situation. We don’t owe money to anyone even though the recent building programme has been completed.
There is an increasing need for the service that we provide and we hope to give an even better service in the future.
Irene RyanPresident
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Vice President’s Report 2014-2015Exactly 70 years ago, on 18th November 1945, a group of Russian people founded a new organisation which has grown into what it is today – a first class Aged Care Facility – St Sergius Aged Care.
Over the last 70 years many changes, additions and modifications were made to the Facility, but regardless of how fast new rooms were added, there were never enough; demand exceeds supply.
As the population ages, there is a world shortage of Aged Care Facilities and it is a major issue for the whole world. The Australian Government has undertaken a complete review of the Aged Care Act some years ago and it is continuously being modified. The last three years have seen big changes such as the introduction of Bonds, making residents more responsible for their aged care. All these changes and more stringent rules and systems have put a lot of pressure on Aged Care Providers. Even more responsibilities are also placed on people looking to enter Facility and their relatives. This requires filling in a lot of Government forms, which are difficult for elderly people to complete.
To comply with these additional Government requirements the Board of Directors have developed a 10 year strategic plan.
1. First of all starting in November 2015 St Sergius will have specially trained staff available to assist in filling in many Government forms. This will make entry into St Sergius facility relatively easy.
2. Last year St Sergius facility opened 30 rooms for dementia patients and this year
the number of people seeking dementia and nursing care is increasing every day. If a room becomes vacant today, it is occupied again in the morning.
The Board of Directors have prepared plans for the building of a new 50 bed, three level extension to the facility on land which belongs to St Sergius. The Board is also negotiating purchase or swap of Church land which will allow new facility to follow existing building along Cabramatta Road.
This three level building will have two levels of dementia care rooms, associated rooms for dining, rest rooms, lounges, staff etc. Ground floor will have a carpark, swimming pool, saunas, billiards and craft rooms.
It is expected that this development will take 2.5 – 3 years to complete.
3. The Board is examining a possibility of modifications of the existing original nursing home to incorporate as many additional bathrooms as possible, thus creating better facilities.
4. Refurbish and extend kitchen to accommodate needs of extra 50 residents. Expected 2 years to complete.
5. Build approximately 10 to 14 one, two and even three bedroom Independent Living Units on RRA land. Expected completion 3 years.
6. We already have a very successful Day Care operation and the Board is currently in the process of establishing Home Care Service in the current financial year. This service will make St Sergius a complete Aged Care Provider, offering Day Care, Home Care, Residential Care and Independent Living Units.
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2014/2015 Annual Report
7. Aged Care sector is growing extremely fast and to stay in business St Sergius Aged Care Facility must continue with our hard work to be the best in the industry!
There is only one way to achieve this is to have hard working caring staff and first class facilities. Some 15% of our staff have worked for St Sergius for over 15 years. These are very impressive figures and indicate that St Sergius staff have shown their dedication to the care of our residents. The Board of Directors and Management are putting a lot
of effort into assisting our staff to further their education, many of who are already completing or currently studying.
Alexander Hughes OAM
Vice President
Treasurer’s Report 2014-2015
Dear Members,
I have the honour to report that Turnover for Financial Year 2014-15 was $15,529,047.27 and after deducting expenses and
depreciation, Net Profit was $2,215,114.57 = 14.27% Net Profit.
I must thank all staff for these excellent results.
I must thank the Board of Directors for the forward planning and vision to increase 20 new beds to 168 and increase of 4 new Independent Living Units to 26 that have been occupied this year.
RRA has $5,867,466.13 in Bank Accounts on Term Deposits this includes $1,113,642.50 in Accommodation Bond Liabilities that RRA could be required to refund after residents leave RRA.
In 15-17 August 2014 the Board of Directors held a 2 day seminar in Hunter Valley to consider and prepare strategic plans for future directions and development of RRA.
The priorities have been agreed upon, but the negotiations to implement are still ongoing to find a fair and wise resolution.
Overall RRA is in a very strong financial position to continue operating at a high standard, investing and expanding our Russian Aged Care Facilities.
Nicholas (Ostasevich) Ostin
Hon. Treasurer
10th September 2015
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Organisational Chart
RRA MEMBERS
BOARD OF DIRECTORS
PRESIDENT
DIRECTOR OF CARE
DEPUTY DIRECTOR OF CARE
CLINICAL CARE COORDINATOR AND EDUCATOR
PHYSIOTHERAPIST NON CLINICAL EDUCATOR
RN’S
AIN, CERT IV, PERSONAL AID
RAO’S
MAINTENANCE MANAGER
KITCHEN
LAUNDRY
CLEANING
MAINTENANCE
FINANCE MANAGER
ACCOUNTS
RECEPTION
PURCHASING
PR
DAY CARE NURSING RECORDS COORDINATOR
HR
FINANCE COMMITTEE
QUALITY AND RISK COMMITTEE
BUILDING COMMITTEE
RESIDENT WELFARE COMMITTEE
WH&S AND FIRE COMMITTEE
AUDIT COMMITTEE
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2014/2015 Annual Report
Board of Directors
Mrs Irene RyanDirector (President)
Dr Andrew PesceDirector (Second Vice President)
Mr Nick SerebriakovDirector (Secretary)
Mr Alexander HughesDirector (First Vice President)
Mr Michail DubininDirector (Welfare Committee)
Mr Nick PitchuevDirector
Mr Nicholas OstinDirector (Treasurer)
Mr Victor IgnatenkoDirector (Building Committee)
Mr Eugeni AleshinDirector
Dr Alexsandra NewfieldDirector
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Olga Verbovskaia Nursing Record Coordinator
Iain GrettonMaintenance Supervisor
Suzana DancksDay Care Coordinator
Natalya Zaytseva Clinical Care Coordinator
Susanna MaguireDeputy Director of Care
Helen WorkmanPhysiotherapist/Non-Clinical
Management
Ilmira ChernyakovaDirector of Care
Tatiana Fedoseeva Finance Manager
Alexey ZhigunovMaintenance Manager
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2014/2015 Annual Report
Internal Audit Committee Report
Russian Relief Association has grown exponentially
for the past few years and it is time to introduce and
clarify to its members the functions of one small
committee within an Association which is the Internal
Audit Committee. I intentionally highlight meaning the
Internal Audit as against the External Audit.
The External Audit check correctness of the financial
and accounting system within the organisation. It is
an officially registered Auditor, and is appointed by
the Board. Usually it conducts audit once a year and
submits yearly report to the Board.
The Internal Audit Committee is an independent
committee, elected at the Annual Meeting by the
members of the Russian Relief Association.
The Internal Audit Committee’s functions are not to
control correctness of the accounting System, not
to monitor the payment of wages or correctness of
reconciliation with Bank statements, but to identify
and give independent advice to the Board about
potential threats to the profitability and the reputation
of the Russian Relief Association. It should monitor
how internal processes are working and how well
financial risks are being managed, monitor large
financial changes and monitor profit and loss monthly
statements, also identify potential cases of negligence
or material personal interests within organisation,
monitor treatment of the employees and residents, and
give independent advice to the Board.
Unfortunately Russian Relief Association still
uses outdated “MEMORANDUM AND ARTICLES OF
ASSOCIATION”. Functions of the Auditing Committee,
as listed in the existing Memorandum, are now
obsolete and confusing.
We take this opportunity to advise members that the
amendments are urgently needed to the existing
“MEMORANDUM AND ARTICLES OF ASSOCIATION”.
Following report is based on the functions of the
Internal Audit Committee as described above:
The Board successfully carried out this year major
restructure of the Senior Management Team.
Addition of New Wing was finished except for the
small defects. Until all defects are fixed a bank
guarantee will not be released.
The Finance Department monthly reports did not
show any unusual or unexpected expenses.
Retained Profit for this year was $2,215,115.00, which
was by $1,212,682.00 higher than the last financial
year. This improvement was partially due to the
professional success by the Accountant, obtaining
Higher Accommodation Supplement, which added
extra $788,000.00 this year to the Retained Profit.
The kitchen operated satisfactory with usual minor
complaints. Kitchen work is checked once a month
internally by the Administration, once a year by an
independent firm and by the Government Division
for food. An independent nutritionist also checks the
menu once a year.
The laundry operational problems were resolved and it
passed Accreditation.
The Audit Committee attended most of the
Resident’s Review meetings. Following issues are
usually discussed: new appointments, complaints and
suggestions, kitchen and laundry operations and other
problems and news.
The Audit Committee recommends to the Board again
that amendments must be introduced to the existing
Memorandum, including clarification of the functions
of the Internal Audit Committee, abolishing the age
limit for Directors, also clarifying the responsibilities
of the Board of Directors, in the event of a potential
Conflict of Interest.
Nicholas Nikulin
Chairman
Internal Audit Committee
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Report from the Director of Care
This is my first report as the Director of Care. I am honoured to work in an organisation that is funded by the people of Russian Relief Association of St Sergius of Radonezh, managed by the Board of Directors and continues to care for some of the vulnerable people in our community. I strongly believe that our mission and values define who we are and underpin everything we do.
St Sergius has had a challenging, successful and exciting 2014-2015 year:
Updated systems and processes to meet new legislative changes:
The Commonwealth Department of Social Services (DSS) introduced new legislations pertaining to aged care - The Living Longer Living Better aged care reforms - which took effect as of July 1st, 2014. Additionally, service referrals through My Aged Care Portals have commenced, along with the new My Aged Care Regional Assessment Service (RAS), since July 2015. We spent much of the 2014-2015 year preparing and implementing for changed regulations. The overarching aims of the reforms are to provide greater transparency around pricing, while opening the way for residents and clients with sufficient means to contribute more to their care. It was critical that St Sergius as a service provider has reviewed and then activated our service information through the portal for those services to be displayed in the service finder located on the My Aged Care website and to receive service referrals from My Aged Care. St Sergius is now providing more information than ever before about our services, including publishing set accommodation prices for residential aged care facility. In addition, new means testing arrangements have been introduced in residential care. We are firm supporters of these changes, although some regulatory details need to be reviewed. Educating our staff, Residents, their representatives and the community on this new system has been a huge task.
Quality and Safety in Service Delivery:
In March, 2015, Russian Relief Association of St Sergius of Radonezh underwent the triennial accreditation review of Residential Aged Care Facility, as well as in July, 2015, a quality review of Day Care Service by the Quality Accreditation Agency. We received positive recognition for the quality of our services.
A new management team of Director of Care and Deputy Director of Care were introduced to their new roles following CEO resignation in March, 2015. There have been other changes to the management team including resignation of the Educator and unfilled Clinical Care Coordinator position till the middle of June, 2015.
Refining our governance systems has been a major task for the management team over the last 6 months. The organisation has refined and realigned our committee structures with the aim of improving our governance systems and processes. Additionally, we have established Key Performance Indicators which monitor our performance and identify risks from a quality and WH&S perspective. Aged Care Service Consultancy was invited to support a new management team in May, 2015.
The following operational actions were implemented:
1. Broad consultation and determination of
organisation structure
2. Review current staffing structures and levels
to outline gaps in staffing. A new position
Cert IV in medication administration which
is covered entire facility (10 hrs shift) was
introduced in May, 2015. The main idea of
introduction of Cert IV – 10 hrs shift was that
Cert IV staff will free up RNs time to focus on
resident’s care coordination
3. Outline staff training requirements and
professional development programs
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2014/2015 Annual Report
Report from the Finance Manager
4. ACFI validation and claiming review to enhance
ACFI funding.
The specific skill areas outlined below have been identified as development priorities for the current workforce:
1. Person-centred care approach particularly for
people living with dementia
2. Leadership skills
3. ACFI skills
4. Specialised clinical skills including: Palliative
Care, Dementia/ Mental Health and behaviours
of concern, Rehabilitation including a focus on
wellbeing and Gerontology.
St Sergius recruits new employees with its values and directions in mind, and believes staff well-being and
staff performances go hand in hand. As a result, we emphasise the importance of personal attributes or ‘soft skills’ such as: self-management and self-care, social intelligence, accountability, continual improvement attitude and commitment to lifelong learning.
More work is needed to determine the knowledge and skills required across these areas for particular roles, and then to systematically plan development programs to meet existing gaps.
Ilmira Chernyakova
DOC
Aged care industry has grown a lot over the past few years. Today about 1.5 million Australians receive some form of care from more than 2000 specialist organisations which employ more than 350 thousand people. Even this large number of care providers and workers is proving to be insufficient due to Australia’s ageing population. To ensure that the system is keeping up with the times, the Australian government has begun rolling out the aged care reform in 2012 which is expected to continue until 2022, with a number of changes already affecting Australian nursing homes. Elderly people often have a hard time navigating through new laws, which can cause some distress, however these reforms should not frighten them, as the employees of St Sergius Aged Care can always be relied on to provide understanding, help and support.
St Sergius Aged care has existed since 1945. The first Russian immigrants from China and Europe
were often elderly and lonely and required care. This encouraged the Russian community in Sydney to create the Russian Relief Association. Ever since then, our organisation has developed and grown, we are constantly building new facilities. Today we have 168 residents in various forms of care, depending on their needs. Those who can still care for themselves reside in independent living units. We also have plans for future construction and we have already acquired parcels of land to be developed. We hope that we will soon have new additional facilities and will be able to accept more residents, both for permanent and respite care.
St Sergius Aged Care can become a real life saver for an elderly person with Russian roots. It is no secret that at a certain stage of life, bilingual people tend to return to their first language. We are proud to offer care services in the Russian language to accommodate these situations and we are very
Report from the Director of Care (continued)
2014/2015 Annual Report
13
happy to see Russian speakers at our nursing home.
The ongoing aged care reforms have introduced certain new policies. The first step for a person wishing to enter aged care has, however, remained the same – a consultation with a doctor. The second step is to register on a government website. Some elderly people may find this second step complicated and that is why we created a special help group. A person wishing to enter aged care, or their relatives or friends should contact us and schedule a first interview where we will help them register on the website and discuss their needs.
Another aspect of aged care which often worries people is the financial side. The newly introduced reforms ensure that every potential aged care resident is assessed on a case by case basis. This means that even if a person does not own any property or does not have a lot of money and relies on their pension, this pension will be enough to cover all expenses, including accommodation, food, medicine and additional personal services such as haircuts. Some people also needlessly worry about the “accommodation bond”. The amount of the bond is also determined on a case by case basis, and
is refundable to the person or their relatives if the person leaves aged care for any reason. This ensures that everyone can afford the bond, no matter their financial position. A person will never be asked to pay a bond that they cannot afford. We would be happy to discuss the financial aspect with any potential resident or their representative.
St Sergius Aged care is also very accommodating of family and friends visits. We have designated areas where visitors can spend time with the residents in comfort, as well as a cafe. Residents can also leave the nursing home to visit their close ones, even overnight. There is, however, a limit of 52 days a year, which means that a resident can have one overnight stay every weekend of the year.
The decision to move into aged care should not be stressful for the person or their close ones. It is truly wonderful that elderly people in Australia have the ability to receive the care they need. Our staff will help along every step of the way to ensure that the process is simple and stress free.
Tatiana Fedoseeva
Finance Manager
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2014/2015 Annual Report
Maintenance Manager Report
The financial year 2014-15 was filled with
important events and changes in all areas of RRA
operations. The main event was the Accreditation
of RRA. Agency inspectors thoroughly checked
the Maintenance Department, its documentation,
procedures, programs and records. As a result
of the Agency check, inspectors highlighted
the excellent RRA maintenance system that has
been established. I am proud to say that the
Accreditation Agency suggested sharing our
knowledge with other aged care organisations.
The Maintenance Team goals set in 2014 were:
Completion of building process and takeover
of new villas; establishment of final landscape;
revision and edit of all Maintenance procedures
and programs as well as further reduction of
Maintenance costs.
The main tasks for the team were familiarization
with the new building and all its systems, as
well as continuous technical support of existing
structures.
I would like to report that the RRA Maintenance
team has achieved the set goals.
Apart from these, the team was involved in
additional major projects. Among those are:
a) New building defects rectification completed.
The design documentation, Work as Executed
drawings (WAE) and manuals handed over
to RRA.
b) Individual RRA Fibre Optic Internet channel
and 12 telephony channels (SIP). This project
allowed us to increase connection speed and
amalgamate all six RRA accounts into one.
c) Introduction of a new chemical supplier –
“ECOLAB”. The transition to better quality
chemicals was organised impeccably and did
not disrupt any day-to-day operations. This
project had an immediate impact on RRA
laundry and facility cleaning.
d) Further modernisation of Kitchen equipment
and appliances. New “Scan Boxes” – mobile
food heaters (similar to airline ones) exceeded
our expectations and are now fully employed.
The kiosk also has new baking equipment.
e) Resident room renovations project began in
March 2015 and is ongoing. The complexity
of this project is very high, because we only
have a limited amount of time to install new
systems, lighting, curtains, furniture as well
as paint ceiling and walls. Completion on time
directly affects RRA income.
Independent Living Units (ILUs)
All ILUs sold and frequent inquiries indicate their
popularity. The Maintenance team does everything
possible to keep all independent units and
surroundings in good condition.
As a part of the Fire Safety program, RRA has
employed the services of a NSW Fire and Rescue
Officer to conduct a thorough check of RRA
emergency procedures. The comprehensive report
with recommendations has been provided to us.
RRA has started the process of implementing all
suggested changes.
Existing Building
The Maintenance team continues to look after
old and existing buildings. Our organisation keeps
growing, together with it grows the demand
for well working equipment and systems.
Quantity of daily requests for technical assistance
(maintenance logs) has doubled, and my team
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Dementia Care
respond to every request successfully. Keep
in mind, that at the same time, we follow a
preventative Maintenance program related to
medical and kitchen equipment, communications
and hygiene.
In conclusion
The main tasks for the team in 2015-2016 are:
a) Completion of Fire Emergency Plans,
b) Evacuation training for ILU residents,
c) “Cloud” based storage for growing RRA archives,
d) Full revision of computer hardware,
e) Full revision of Printing and Scanning
equipment and associated cost reduction,
f) Development of software to optimise
scheduling of RRA events,
g) Upgrade of Nursing Home old lift, and
h) Further development and edit of all
Maintenance procedures and programs.
Alexey Zhigunov
RRA Maintenance Manager
This year we have increased our Dementia capacity
to 39 beds to try and accommodate the ever
increasing number of Dementia Specific Residents.
These people have a deterioration of brain function
with the result of memory loss, reduced language
skills, impaired reasoning, loss of daily living skills
and changes in behaviour and emotions.
Family and friends are very welcome in our
Dementia unit and we encourage them to visit and
to escort the Residents to outside appointments
and to take them on outside visits and outings.
Over the past 12 months we have continued and
improved our existing practices, thus enhancing
and enriching the life of our Dementia Residents.
We maintain person-centred care to our elderly
residents in a safe environment using a specialised
Diversional Therapy Program and experienced
nursing staff.
We now have a Registered Nurse in our Dementia
Unit for the morning and evening shifts. We ensure
that staff working in this unit are caring, passionate
people with a commitment to provide the highest
quality care.
We have 2 full time Recreational Officers with a
passion for caring for our Dementia residents,
who are providing meaningful activities for groups
and individuals.
We are also working closely with our Physiotherapy
Team in developing innovative exercise and walking
programs. Our aim is to maintain mobility and safety
for each of our residents.
The RN working in Dementia, with the consultation
of all staff involved in the care for the resident,
constantly reviews the resident’s needs, abilities and
preferences in order to provide each resident with a
unique person-centred care.
Our aim is to maintain the wellbeing of each
Dementia resident and to improve their quality
of life.
Susanna Maguire
DDOC
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2014/2015 Annual Report
Palliative Care
Our Palliative Care Unit continues to provide
specialised medical care for people with serious
illnesses. It is focused on administering relief to
residents in pain associated with serious illness –
whatever the prognosis. We provide reassurance to
all residents and ensure that their pain is kept to a
minimum with the administration of analgesia and
providing pain relief therapy.
Our goal is to provide comfort and all possible
care to our terminally ill residents. Staff provide
2nd hourly pressure care and patients are nursed
on air mattresses to prevent development of
pressure sores.
The rooms are equipped with suction equipment
and piped oxygen for immediate use as required by
the resident. They live in large, quiet and light filled
rooms with an ensuite bathroom.
An increase in staff numbers meet the needs of
our seriously ill residents in our Palliative Care Unit.
All staff have undergone continuous training in
“Palliative Care”, ensuring they are equipped with
appropriate knowledge to provide the best possible
care. A Registered Nurse is on the ward 24 hours
per day to provide all specialised care as required
for the residents.
Recreation Officers provide one on one care to each
resident daily and ensure that gentle and soothing
music is playing in each room.
Family and friends are very welcome in our
Palliative Care Unit and we encourage them to visit
at any time. Overnight family stays can also be
accommodated.
Staff encourage and transfer each resident to have
their meals in the dining room on the Palliative Care
Unit if at all possible. They feed frail residents if they
cannot feed themselves and ensure that nutrition
and hydration are maintained.
The Russian Relief Association has an approach
that improves the quality of life of residents and
their families facing the problems associated with
life-threatening illness, through the prevention
and relief of suffering by means of impeccable
assessment and treatment of pain and other
problems, physical, psychosocial and spiritual.
Susanna Maguire
DDOC
2014/2015 Annual Report
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Physiotherapy
The Physiotherapy Department has had a lot of
changes and improvements this year which are of
great benefit to our residents. Our big focus has
been increasing physical activity opportunity for
our residents. Physical activity and exercise helps
you stay healthy, energetic, independent and
reduce the risk of falls. As you get older it is even
more important to stay active if you want to stay
healthy and maintain your independence.
To make the changes possible we have increased
our staff levels with 2 extra PT aides and PT now
4 x week.
New Initiatives:
1. We have been running our exercise group now
for several years 2 x week. The exercises focus
on improving strength and fitness of those
muscle groups which are most likely to impact
on an elderly person’s independent mobility
and falls prevention. Residents are re-assessed
regularly to allow the program to be tailored
to their individual need. The residents enjoy
the social impact of the group and have also
reported an improvement in their mobility. We
have now started to run the gym programme
3 x week.
2. We have commenced an advanced walking
programme (garden walks) 3 x week with
our residents. The ‘walking programme’ was
developed to optimise residents’ physical
activity. This program aims to minimise falls
risk, and improve function in our residents.
3. Pain not only subjectively is unpleasant but
care decrease energy levels and make people
more vulnerable to falling. With the increased
staff and hours we are able to offer more pain
intervention more regularly.
Non Clinical Education/Training
We have a strong commitment in offering
quality care and supporting our staff. We have
successfully started half block training for staff
to make Mandatory Education more efficient. We
have also introduced regular in house training from
a college to increase staff knowledge in speciality
areas such as Dementia and Palliative Care.
We set up a new project this year training Russian/
Serbian speaking staff who had previously never
worked in Aged Care but showed an interest. A
lot of the staff had poor English so we supported
them originally in house, providing training and
lectures and setting up a buddy system for
them. We are happy to announce that all 10 staff
members have now completed a Certificate III in
Aged Care.
Helen Workman
Physiotherapist
Non-Clinical Educator
18
2014/2015 Annual Report
Staff Education
Nurses of Russian Relief Association of St. Sergius
of Radonezh are committed to incorporating the
principles of person-centered care in every aspect
of nursing care, including assessment, treatment,
and advocacy. This commitment to person-
centered care supported by educating staff on this
care philosophy; developing staff communication
skills; providing the transformational leadership
required for practice change and collaborative
work relationships; and promoting individual
accountability for person-centered care. A
nurse’s ability to deliver person-centered care is
determined by the attributes of the nurse, their
nursing practice, and the care environment.
We are determined to improve professional
competence, by providing continuous training
and education. Training and in-service education
sessions designed to provide broad level of the
knowledge, skills and strong professional values
to all nursing personal. All new staff members
undergo comprehensive training, introduction
program and competency assessments in order
to ensure that high standards of nursing care
are maintained. Additionally, working in close
collaboration with Medi-Learn and Australian
Institute of Workplace Learning allowed us to
provide access for our staff to various education
and training programs which might boost
professionalism of our nursing personal. Any staff
member might choose an education and training
program to upgrade qualifications and build career
in aged care. Recently, ten new personal care
workers completed Certificate III course and joined
our team.
Regular competency assessments of Certificate III
and Certificate IV allows us to identify and address
weakness, as well as to maintain appropriate
standards of nursing care. Changing the nursing
model of care required changing the way we
think. We are orientated to build strong, trustful
relationships with our residents and families.
There is an open disclosure process that ensures
residents and their families are provided with
timely information on what has happened, why it
occurred and what steps are being taken to prevent
it happening again. Nursing staff communicate
with family members more frequently, not only to
provide updated information, but also to receive
personal information about residents, to improve
quality of care.
At the Russian Relief Association of St. Sergius of
Radonezh we strive to understand the way our
health care is delivered and to develop systems
that will reduce the likelihood of future adverse
events that result in residents harm. We have
programs in place to identify areas of clinical
risk including incident management reporting
system and audit system. Management of the
facility worked hard to develop a culture and
that actively encourage staff to report incidents,
known in health care as adverse events. Insights
gained from analyzing incidents information are
used to improve resident care and provide us with
opportunities to learn about and correct problems.
We continue to use an incident management
system to manage safety and quality risks to
maximize resident safety and care across the
entire facility. The information gained from our
systems allows RN’S and Managers to learn about
and to use this knowledge to improve the safety
and quality of clinical care. In the last 12 months,
majority of all incidents notified resulted in minimal
or no harm. Data from these events is aggregated
to identify opportunities for improvement.
2014/2015 Annual Report
19
Recently, to improve nursing care and to reduce
medical complications, we have purchased INR
testing machine. INR monitoring is considered
the gold standard of care, as it has been found
that individuals using this method remain within
therapeutic range over 70% of the time.
Russian Relief Association of St. Sergius of
Radonezh is committed to enhance person
centered care. Collaborative education programs
clearly demonstrate the facility’s commitment
to providing, promoting and inspiring lifelong
learning across all health professions.
Natalya Zaytseva
Clinical Care Coordinator
Work Health and Safety
The Russian Relief Association of St Sergius
of Radonezh is committed to a safe working
environment and this is achieved through an
effective consultative process which gives all
employees the opportunity to express their views
on matters relating to Work Health and Safety.
RRA Management facilitates a safe working
environment through:
• Promoting a safe working culture through
proactive risk management;
• Providing ongoing training to all staff in
relation to a safe working culture;
• Providing appropriate resources for all aspects
of Work Health and Safety;
• Implementing effective consultative
mechanisms with all employees;
• Monitoring performance and implementation
of continuous improvement plan;
• Encouraging all staff to believe that Work
Health and Safety is everybody’s responsibility
to report.
Work Health and Safety is an area that the RRA
takes very seriously and this year we continued
with the ongoing training of all staff including
the Board of Directors who undertook fire safety
training as well as providing a fire drill for our
Independent Living Units.
Consulting all staff on matters pertaining to Work
Health and Safety is not only a legal requirement
under the Act but it also makes good business
sense – a safe worker is a happy worker! This year
we purchased new equipment for our staff so
they can provide the best of care for our residents
as well as keeping our staff safe. This equipment
included two lifters for our new sections, Palliative
Care and Dementia 2. A new fire panel was also
installed in the original section of the Nursing
Home which now communicates effectively with
the main fire panel. Updated evacuation drawings
were also commissioned and displayed throughout
facility, giving staff a clearer understanding of
their nearest evacuation route in the event of
an emergency.
The Work Health and Safety Committee continues
to meet every two months where any issues to
do with Work Health and Safety are discussed and
acted upon. WHS Representatives and Committee
play an important role in making the workplace
safe and healthy by:
20
2014/2015 Annual Report
• Helping improve the workplace through the
implementation of a safety management system;
• Participating in matters that affect WHS,
including hazard identification and controls;
• Using a continuous improvement approach to
Work Health and Safety.
Iain Gretton
Maintenance Supervisor
Day Care Report
Day Care has had an amazing year and since our last
Annual Report there’s been considerable growth in
our outputs, staff and the diversity of our service
provision to our Clients and their Carers.
Advertising and promotions
Day Care has made itself known to the local
community through various ways of advertising:
the Russian TV, Russian newspaper, Serbian
newspaper, fliers, networking, countless emails sent
to other aged care services but word of mouth has
been the best thus far.
Community Partners
We have established a network with various Aged
Care Community Partners and collaborate with
them on a regular basis regarding referrals, clients’
needs or any issues that we can work on resolving
together. Community partners such as MCCS, ACAT,
Dept. of Family and Community services and Home
Care Services have been most helpful in advertising,
referring new clients, offering transport for mutual
clients as well as sharing with our clients’ valuable
information regarding aged care through various
programs and organised presentations.
Day Care Team
Our team consists of 3 Recreational Activity
Officers, 1 wonderful Volunteer and a Coordinator.
And what a great team we have! We base our
successful teamwork on great communication,
clear understanding of our roles and mutual care
for providing the best service to our clients and
their carers. We often say that our clients are our
extended family and, from the positive feedback
that we have been getting from clients and carers,
I can safely say that they share the same feeling.
The Day Care Team firmly believes that professional
development is the key to improvement in the
quality of our service. Our staff regularly attend
facility on-site training and all staff have also been
enrolled in a Leisure and Health Certificate IV
Course.
As the leader of the Day Care Team I am constantly
researching the aged care sites and keeping
informed about the changes in the aged care
industry ensuring that the RAO staff is continuously
updated. As a Coordinator I research and regularly
communicate with my staff about valuable
information regarding health and leisure activities,
2014/2015 Annual Report
21
dementia and behaviour management, cultural
diversity etc.
Our Service
At Day Care, we pride ourselves on our structure
and organization. This involves: developing,
updating and following procedures, time
management, reporting, team meetings, staff
and volunteer training, developing and updating
documentation, housekeeping, etc. However, none
of the above would matter without providing the
best quality of service that our seniors need and
deserve.
Service provision involves: Careful Client Care
Planning based on individualised needs and goals,
appropriate interventions with client focused
activities in view of wellness and enablement. Our
daily recreational activities are broken down into 5
elements to stimulate social, physical, emotional
or sensory, cognitive and spiritual needs. Service
also includes client and carer care coordination,
information sessions and workshops for clients and
carers through Community Partners and other aged
care service providers.
Focus on Enablement
Activities that are implemented in Day care
are carefully planned and constantly evolving
and changing to suit clients’ needs but more
importantly to promote enablement. Our clients are
encouraged to take turns in calling bingo numbers,
scoring games, picking teams for competitions and
leading exercise activities with the activity officer.
Our clients also take their own initiative in helping
other clients with craft, word association games and
similar. A great example of enablement is that one
of our clients has became a volunteer and shares
her skills with the other clients.
Activities
We have a huge number of activities ensuring
that there is a good variety of different activities
every day. Our clients enjoy social discussions,
reminiscence, memory games and word association
games, sports and competitive games, sensory
games, outings or just plain old chit chat about the
weather. Our activities can be highly complex such
as a word association game which involves rolling of
the dice and adding numbers then comparing the
number with the alphabetical order and answering
a question that starts with that letter. Or ridiculously
simple such as alphabetical ball toss. Both activities
produce the same result and stimulate the same
part of the brain but they acquire different skill
sets. So, for example, dementia effected clients
who may not be able to do the complex game, can
still benefit from a mentally stimulating activity in a
group environment.
All of our activities are developed and implemented
with flexibility to suit all clients.
Quality Review
As HACC Government service provider we are
obligated to follow and comply with the Community
Care Common Standards. The aims of the standards
quality review process are to assess whether:
• Safe, high-quality community care services are
delivered
• Service provision meets the identified needs of
service users
• Program Standards and expectations are met
• Funds are used according to the purposes
specified in funding agreements.
And as a result of weeks and months of hard work
and great efforts from all of us in Day Care, our
22
2014/2015 Annual Report
1st Quality Review passed all 18 points of the 3
Standards with flying colours. Now we just need to
continue to develop and improve further.
Our Vision
We set big goals last year and achieved all of them
and more. Day Care services are open for clients 3
days per week and has 45 active members, At this
stage we have a Russian Group on Mondays, a Slavic
group on Tuesdays and a mixed cultural group on
Wednesdays. Our future goal is to grow further and
expand our services to 5 days a week in view of
providing a service to people from a wider culturally
and linguistically diverse background.
Suzana Dancks
Day Care Coordinator
Leisure and Lifestyle
Leisure and Lifestyle is a major part of St Sergius
Residents, we offer a variety of leisure and lifestyle
activities to assist to improve individualised care
needs. Leisure activities are created to enable and
empower residents to become more independent
and to have a happy fulfilled lifestyle.
RAO Staff
Our staff prides themselves on delivering
individualized care to resident’s quality of life.
New RAO staff members have been introduced
to the team as the facility has expanded to
accommodate the demanding need of residential
care in the community.
Dementia Care
St Sergius Aged Care Facility Dementia Unit caters
for 39 residents living with Dementia, RAO staff
members take pride with engaging residents in
stimulating activities to minimise and prolong the
effects of living with Dementia.
Volunteers
Volunteers work closely with RAO staff and
residents on a weekly basis to assist with leisure
and lifestyle activities; they interact with residents
individually and in group environments.
Stimulating Activities
A Sensory trolley was introduced in December
2014, using poetry readings, music, massage,
aroma oils, and tactile items, residents are
engaged and stimulated in the comfort of their
own bed.
Gardening is a big part of residents past, a garden
box on wheels has been introduced recently and
is designed for resident to be able to sit down and
take care of plants at arm’s length. This activity
enables residents that have a love for nature to
feel connected to their surrounds and feel more
at home.
Evening Relaxation program
Recently residents have been participated in a
new program designed for residents who require
a little relaxation in the evenings. Residents have
been observed in participating in relaxing music
sessions, Hand massages, aroma oils and sensory
DVD’s. By engaging in more relaxing environment
in the evening residents have a better night sleep
and wake up more refreshed and alert ready for
the day, this will assist in minimising challenging
behaviours throughout the day.
Day Care Report (continued)
2014/2015 Annual Report
23
Cultural festivities
St Sergius celebrates the Russian Orthodox
traditions. The Krasnaya Gorka celebration and the
Ivan Cupala Festival of Flowers were part of the
Russian traditions in 2015 and residents enjoyed
taking part in these festivities.
St Sergius Aged Care Facility caters for all
multicultural residents, as always we continue to
assist residents to meet their cultural needs by
offering a variety of cultural festivities.
Bus Outings and Shopping trips
In April 2015 St Sergius become proud owners of
a 21 seated Mitsubishi Roza commuter bus with a
mobility lifter to accommodate all residents.
Residents will have an opportunity to participate in
regular bus outings and fortnightly shopping trips
as this will assist residents being part of the greater
community.
Spiritual and Pastoral Care
St Sergius Aged Care Facility takes pride in assisting
residents to meet their religious and spiritual
needs. Regular visitation is provided by Priests from
the Russian, Serbian and Catholic faith.
Father Boris from the Russian Orthodox Church,
Cabramatta, performs monthly Chapel Services
including Holy Communion and general Confession.
Father Boris also provides services on special
cultural days throughout the year, including the
Holy Unction during Great Lent and the bringing of
the shroud on Good Friday.
Rose Leef
RAO Coordinator
24
2014/2015 Annual Report
Employee of the Month
Employee of the Month commenced in November 2008 with great success. Employees, residents and their
families can nominate an employee whether it be Nursing Staff, Recreational Officers or Administration
Officers and put this form in the suggestion box which is checked towards the end of each month and
collated. The employee receives a Westfield gift card with the value of $100.00.
Financial Statementsfor the year ended 30th June 2015
Russian Relief Association of St Sergius of Radonezh Limited
ABN: 20 071 400 470
Contents
Directors’ Report ...................................................................... 1-3
Auditor’s Independence Declaration ............................................4
Statement of Profit or Loss and Other Comprehensive Income ..5
Statement of Financial Position ....................................................6
Statement of Changes in Equity ................................................. 7
Statement of Cash Flows ............................................................ 8
Notes to and forming part of the Financial Statements ........ 9-19
Directors’ Declaration .................................................................20
Independent Audit Report ................................................... 21-22
2014/2015 Annual Report
Financial Statements Page 1
RUSSIAN RELIEF ASSOCIATION OF ST SERGIUS OF RADONEZH LIMITED ABN: 20 071 400 470
D I R E C T O R S ' R E P O R T
Page 1 Your Directors present their report on the company for the financial year ended 30 June 2015.
1. Information on Directors
The qualifications, experience and special responsibilities (if any) of the Directors in office at any time during the financial year and at the date of the report are:
NAME QUALIFICATIONS SPECIAL & EXPERIENCE RESPONSIBILITIES Mrs I Ryan Barrister President elected 16.11.2014 Mr A Hughes Retired Manager Resigned as President 16.11.2014 First vice-president from 4.12.2014 Dr A Pesce Specialist medical Elected 16.11.2014 Practitioner Second vice-president from 4.12.2014 Mr E Aleshin Retired Businessman Elected 16.11.2014 Mr N Brusentsev Retied Industrial Chemist Resigned 20.10.2014 Mr M Dubinin Retired Manager Director Mr V Ignatenko Consultant Engineer Director Mr A Larpardin Retired Project Manager Not re-elected 16.11.2014 Mr N Maksymow Manager Not re-elected 16.11.2014 Dr A Newfield General Practitioner Director Mr N Ostin Director/Owner Appointed Treasurer 4.12.2014 Mr N Pitchuev City Council Officer Elected 16.11.2014 Mr N Serebriakov Retired Manager Director (Secretary) All Directors of the Company are members. During the financial year thirteen (13) meetings of the Company’s Directors were held, in respect of which each Director of the Company attended the following number:
2014/2015 Annual Report
Financial Statements Page 2
RUSSIAN RELIEF ASSOCIATION OF ST SERGIUS OF RADONEZH LIMITED ABN: 20 071 400 470
D I R E C T O R S ' R E P O R T Page 2
NUMBER ELIGIBLE NUMBER NAME TO ATTEND ATTENDED Mrs I Ryan 13 11 Mr A Hughes 13 11 Dr A Pesce (elected 16.11.2014) 8 5 Mr E Aleshin (elected 16.11.2014) 8 7 Mr N Brusentsev (resigned 20.10.2014) 4 4 Mr M Dubinin 13 12 Mr V Ignatenko 13 13 Mr A Lapardin (not re-elected 16.11.2014) 5 4 Mr N Maksymow (not re-elected 16.11.2014) 5 4 Dr A Newfield 13 9 Mr N Ostin 13 12 Mr N Pitchuev (elected 16.11.2014) 8 6 Mr N Serebriakov 13 12 2. Principal Activities
The principal activities of the Russian Relief Association of St Sergius of Radonezh Limited (Russian Relief Association) during the financial year was to provide:
• accommodation and support services for the aged, primarily aged care for those with an ethnically Russian background and other people from the community;
• ancillary services related to the provision of these services. Short term Objectives The Russian Relief Association’s short term objective is to achieve improved performance within the constraint of providing high quality services to residents and clients whilst ensuring the long term sustainability of the Russian Relief Association. To expand the attendance at day care and develop home care. Long term Objectives Provision of accommodation and support services for the aged and to be financially viable for the long term.
3. Results Review
The net profit after tax was $2,215,114.57 compared with 2014 year’s net profit after tax of $1,002,433.21. The Russian Relief Association is exempt from income tax.
4. Financial Position
The entity is in a very strong financial position with Net Assets totalling $33,806,628.65 at 30 June 2015 compared with $31,091,514.08 in 2014.
2014/2015 Annual Report
Financial Statements Page 3
RUSSIAN RELIEF ASSOCIATION OF ST SERGIUS OF RADONEZH LIMITED ABN: 20 071 400 470
D I R E C T O R S ' R E P O R T Page 3
Results Overview 5. Business Strategies and Performance
The Russian Relief Association operates as a not for profit organisation depending on recurrent Federal Government support augmented by donations, residents contributions bequests and interest on investments. The Russian Relief Association will continue to invest in the refurbishment of its aged care facilities to maintain modern standards of best practice and maintain optimal occupancy. The Russian Relief Association is committed to attracting and retaining quality staff and volunteers, who are committed to assisting and nursing the aged. The Directors are committed to the needs to both residents and the families.
6. Significant Changes No significant change in the nature of these activities occurred during the year.
7. After Balance Date Events
There have been no significant after balance date events outside the normal operations of the company.
8. Environmental Issues The Russian Relief Association’s operations are not regulated by any significant environmental regulation under a law of the Commonwealth or of a State or Territory.
9. Auditor’s Independence Declaration
The lead auditor’s independence declaration for the year ended 30 June 2015 has been received and can be found on page 4 of the financial report.
Signed in accordance with a Resolution of the Board of Directors. ________________________ _________________________ Mrs Irene Ryan Mr Alex Hughes Director / President Director / First Vice President Dated: 26 August 2015
2014/2015 Annual Report
Financial Statements Page 4
Page 4
C M PITT & CO
Chartered Accountants TELEPHONE (02) 9715 1555 6/2 PHILIP STREET FACSIMILE (02) 9715 1566 STRATHFIELD NSW 2135 PO BOX 580 CHARLES M PITT B.Bus FCA E-MAIL [email protected]
Chartered Accountants
Liability limited by a scheme approved under Professional Standards Legislation
AUDITOR’S INDEPENDENCE DECLARATION UNDER SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OF RUSSIAN RELIEF ASSOCIATION
OF ST SERGIUS OF RADONEZH LIMITED
__________________________________________________________________________
I declare that, to the best of my knowledge and belief, during the year ended 30 June 2015 there have been: (i) no contraventions of the auditor independence requirements as set out in the
Corporations Act 2001 in relation to the audit; and
(ii) no contraventions of any applicable code of professional conduct in relation to the audit.
Signature: ………………………………………………… Name of Firm: CM Pitt & Co Name of Partner: Mr Charles M Pitt Date: 26 August 2015 Address: Units 6 , 2 Philip Street, Strathfield NSW 2135
2014/2015 Annual Report
Financial Statements Page 5
NOTE 2015$
2014$
REVENUES 3 15,529,047.27 12,205,260.82
Depreciation expenses 618,122.98 603,906.35
Donations 43,300.00 58,455.01
Employee Benefits expenses 8,647,282.36 7,020,910.30
Occupancy expenses 656,112.76 569,570.77
Residents expenses 1,964,134.19 1,699,767.81
Regulatory expenses 31,924.31 24,882.99
Other expenses 1,353,056.10 1,225,334.38
EXPENSES 13,313,932.70 11,202,827.61
Profit before income tax 2,215,114.57 1,002,433.21
Income tax expense – –
Profit for the year 2,215,114.57 1,002,433.21
OTHER COMPREHENSIVE INCOME
Net gain on revaluation of non-current assets 500,000.00 –
OTHER COMPREHENSIVE INCOME 500,000.00 –
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO MEMBERS OF THE ENTITY
2,715,114.57 1,002,433.21
Statement of Profit or Loss and Other Comprehensive Income for the Year ended 30th June 2015
The accompanying notes form part of these financial statements.
2014/2015 Annual Report
Financial Statements Page 6
Statement of Financial Position for the Year ended 30th June 2015
NOTE 2015$
2014$
EQUITY
RESERVES
General reserves 4 22,255,900.41 21,253,467.20
Asset revaluation reserve 5 9,335,613.67 8,835,613.67
TOTAL RESERVES 31,591,514.08 30,089,080.87
Retained Earnings 6 2,215,114.57 1,002,433.21
TOTAL EQUITY 33,806,628.65 31,091,514.08
ASSETSCURRENT ASSETS
Cash and cash equivalents 7 5,868,576.13 2,635,990.64
Receivables 8 182,376.61 373,351.72
Inventories 9 12,958.00 13,597.45
Prepayments 10 21,607.78 2,026.30
TOTAL CURRENT ASSETS 6,085,518.52 3,024,966.11
NON-CURRENT ASSETS
Prepayments 10 5,000.00 –
Land & buildings 11 30,746,761.54 29,383,030.58
Furniture & equipment 12 1,613,448.21 1,478,502.80
TOTAL NON-CURRENT ASSETS 32,365,209.75 30,861,533.38
TOTAL ASSETS 38,450,728.27 33,886,499.49
LIABILITIESCURRENT LIABILITIES
Payables 13 2,515,830.30 1,216,114.30
Accommodation Bonds / Deposits 14 1,113,642.50 546,798.50
Provisions 15 818,846.76 811,305.51
TOTAL CURRENT LIABILITIES 4,448,319.56 2,574,218.31
NON-CURRENT LIABILITIES
Provisions 16 195,780.06 220,767.10
TOTAL NON-CURRENT LIABILITIES 195,780.06 220,767.10
TOTAL LIABILITIES 4,644,099.62 2,794,985.41
NET ASSETS 33,806,628.65 31,091,514.08
Commitment for expenditure 17 1,200,000.00
The accompanying notes form part of these financial statements.
2014/2015 Annual Report
Financial Statements Page 7
Statement of Changes in Equity for the Year ended 30th June 2015
NOTE 2015$
2014$
General Reserves
Balance at the beginning of the year: 21,253,467.20 19,581,072.14
Add: Accumulated income prior year 1,002,433.21 1,672,395.06
Balance at end of the year 22,255,900.41 21,253,467.20
Assets Revaluation Reserve
Balance at beginning of the year 8,835,613.67 8,835,613.67
Add: Increase in land and buildings 500,000.00 –
Balance at end of the year 9,335,613.67 8,835,613.67
Retained Earnings
Retained Profits at the beginning of the Financial Year 1,002,433.21 1,672,395.06
Net Profits attributable to members of entity 2,215,114.57 1,002,433.21
3,217,547.78 2,674,828.27
Transferred to General Reserve (1,002,433.21) (1,672,395.06)
Balance on End of Year 2,215,114.57 1,002,433.21
Total Equity 33,806,628.65 31,091,514.08
The accompanying notes form part of these financial statements.
2014/2015 Annual Report
Financial Statements Page 8
Statement of Cash Flows for the Year ended 30th June 2015
NOTE 2015$
INFLOW (OUTFLOW)
2014$
INFLOW (OUTFLOW)
Cash flows from Operating activities
Receipts from residents and government 15,166,289.02 11,792,618.50
Payments to suppliers and employees (10,026,847.27) (10,200,935.91)
5,139,441.75 1,591,682.59
Interest received 81,965.99 183,170.38
Donations and Bequests 107,578.70 81,550.00
Receipts from Others 364,188.67 206,661.35
NET CASH PROVIDED BY / USED IN OPERATING ACTIVITIES 22 5,693,175.11 2,063,064.32
Cash flows from Investing activities
Purchase of equipment and building progress payments (1,623,459.57) (5,622,629.81)
NET CASH PROVIDED BY / USED IN INVESTING ACTIVITIES (1,623,459.57) (5,622,629.81)
Cash flows from Financing activities
Accommodation bonds received / (refunded) (837,130.05) (933,507.72)
NET CASH PROVIDED BY / USED IN FINANCING ACTIVITIES (837,130.05) (933,507.72)
Net Increase/(Decrease) In Cash Held 3,232,585.49 (4,493,073.21)
Cash & Cash Equivalents at beginning of year 2,635,990.64 7,129,063.85
Cash & Cash Equivalents at end of year 7 5,868,576.13 2,635,990.64
CASH
For purposes of the Statements of Cash Flows, cash includes deposits at call which are readily convertible to cash on hand.
The accompanying notes form part of these financial statements.
2014/2015 Annual Report
Financial Statements Page 9
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015
The financial report is for Russian Relief Association of St Sergius of Radonezh Limited as an individual entity, incorporated and domiciled in Australia. Russian Relief Association of St Sergius of Radonezh Limited is a company limited by guarantee.
NOTE
1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESBasis of PreparationThe financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards - Reduced Disclosure Requirements of the Australian Accounting Standards Board (AASB) and the Corporations Act 2001. The company is a not-for-profit entity for financial reporting purposes under Australian Accounting Standards.
This financial report has been prepared on the basis of historical cost, except for property which is fair value.
Australian Accounting Standards set out accounting policies that the AASB has concluded would result in a financial report containing relevant and reliable information about transactions, events and conditions. Material accounting policies adopted in the preparation of this financial report are presented below and have been consistently applied unless otherwise stated.
The financial report is presented in Australian Dollars and all values are rounded to the nearest dollar unless otherwise stated.
(a)
Accounting Policies
PROPERTY, PLANT AND EQUIPMENT
Freehold land and buildings are brought to account at cost or at directors’ valuation. The depreciable amount of all fixed assets are depreciated on a straight line basis over the useful life of the assets to the association commencing from the time the asset held ready for use. The depreciation rates used for each class of depreciable asset are:
Class of Fixed Asset Depreciation Rate
Buildings 2.5 – 3%
Plant and Equipment 5 – 20%
Furniture and Fittings 5 – 20%
(b) IMPAIRMENT
The carrying amount of all fixed assets is reviewed annually by directors to ensure it is not in excess of the recoverable amount of those assets indicating impairment.
The recoverable amount is assessed on the basis of expected net cash flows which will be received from the assets’ employment and subsequent disposal. The expected net cash flows have not been discounted to their present values in determining the recoverable amounts.
(c) MAINTENANCE AND REPAIRS
Maintenance, repair costs and minor renewals are charged as expenses as incurred.
(d) INCOME TAX
The Company is exempt from income tax.
(e) GOOD AND SERVICE TAX (GST)
Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of expenses.
2014/2015 Annual Report
Financial Statements Page 10
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015(continued)
(f) EMPLOYEE ENTITLEMENTS
– Annual Leave - a liability for Annual Leave is based on employees year end entitlements at current rates of pay.
– Sick Leave - a liability for sick leave is based on employees year end accumulated entitlements at current rates of pay.
– Long Service Leave - A liability for long service is recognised and is measured as the current value of expected payments to be made in respect of service provided by employee from commencement of service up to balance date.
(g) REFUNDABLE ACCOMMODATION DEPOSITS & REFUNDABLE ACCOMMODATION BONDS
Non-Supported Residents admitted to any aged care facilities before 01 July,2014 paid an Accommodation Bond. Non-supported residents admitted to any aged care facilities first time after this date can choose to pay Refundable Accommodation Deposit (RAD) lump sum or by Daily Accommodation Payment (DAP). The RAD is money placed on deposit with Russian Relief Association with no interest payable to the residents. The amount refundable is on agreement with the Association less any amounts have agreed to have deducted.
The Association maintains all its cash deposits at Authorised Deposit-taking Institution (ADI) to cover repayments of bonds. The Investment Management Strategy (IMS) is in accordance with the Aged Care Act 1997. Refundable accommodation payments both deposits and bonds are refundable within 14 days.
(h) REVENUE RECOGNITION
Revenue is recognised when the Company is legally entitled to the income and the amount can be quantified with reasonable accuracy.
– Government Revenue has been recognised in accordance with the terms of the agreement and the entitlements based on the scale of care. 70% of Russian Relief Association of St Sergius of Radonezh Limited total reported revenue is generated from government funding. The major source of funding is from the Federal Government, Medicare.
– Interest from Money invested with Australian banks is recognised on an accrual basis using the effective interest method.
– Donations and Bequest are treated as income at the time they are receipted or credited to the Company.
– Accommodation Bond Retentions revenue includes accommodation charges to the residents who are liable to a pay a fee that is deducted from the accommodation bond, the fee is determined by the Government and the Aged Care Act 1997.
(i) COMPARATIVES
Where necessary, comparative information has been reclassified to achieve consistency in disclosure with current year amounts and other disclosures.
(j) TRADE AND OTHER PAYABLES
Trade and Other Payables represent the liability outstanding at the end of the reporting period for goods and services received by the company during the reporting period which remain unpaid. The balance is recognised as a current with the amount normally paid within 30 days of recognition of the liability.
2014/2015 Annual Report
Financial Statements Page 11
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015(continued)
(k) CRITICAL ACCOUNTING ESTIMATES & JUDGMENTS
The directors evaluate estimates and judgments incorporated into the financial statements based on historical knowledge and best available information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the company.
(l) TRUST MONEY
The Company holds in trust residents money received for the payment of personal expenses. The moneys held in trust are accounted for separately and do not appear in the Company’s financial accounts.
The accounting for residents trust money is audited and monthly statement distributed.
(m) ENTRY CONTRIBUTIONS
Entry contributions are amounts paid by individuals & occupy independent living units. The liabilities are reduced in accordance with the various resident agreements. These reductions are recorded as income in the statement of profit or less and other comprehensive income. Repayment of the contributions are also in accordance with the various resident agreements. Interest is not payable on these liabilities.
2 MEMBERS GUARANTEE
The liability of the members is limited by guarantee. Every member of the Company undertakes to contribute to the property of the Company in the event of the same being wound up while he/she is a member or within one year after he/she ceases to be a member for payment of the debts and liabilities of the Company contracted before he/she ceased to be a member and for the costs, charges and expenses of winding up and for the adjustment of the rights of the contributors among themselves such amount as may be required not exceeding twenty dollars ($20.00). At 30 June 2015 there were 252 members (30 June 2014 - 306 members).
NOTE 2015
$
2014
$
3 REVENUE
Government Subsidies
Resident fees
Resident accommodation bond retention deducted
Rents – Residential (non age care)
– Independent living units (age care)
– Hostel (non age care)
Membership
Bank interest received
Donations
Entry contribution fees
HACC Grants
Insurance refund
HACC trading/ operating activities
11,256,305.54
3,336,476.77
10,968.00
18,266.96
66,804.18
71,169.98
2,680.00
119,474.49
107,578.70
176,025.95
332,373.10
18,273.60
12,650.00
15,529,047.27
8,598,154.94
3,047,209.33
17,857.35
20,012.69
45,289.66
70,091.65
1,910.00
150,117.80
81,550.00
51,500.00
121,037.40
-
530.00
12,205,260.82
2014/2015 Annual Report
Financial Statements Page 12
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015(continued)
NOTE 2015
$
2014
$
4 GENERAL RESERVE
Balance at beginning of the year
ADD: Accumulated income prior year
Balance at end of the year
21,253,467.20
1,002,433.21
22,255,900.41
19,581,072.14
1,672,395.06
21,253,467.20
5 ASSET REVALUATION RESERVE
Balance at beginning of the year
Increase in land and buildings
Balance at end of the year
8,835,613.67
500,000.00
9,335,613.67
8,835,613.67
–
8,835,613.67
6 RETAINED PROFITS
Retained profits at the beginning of the
Financial Year
Net profits attributable to members of entity
Transferred to General Reserve
Balance on end of Year
1,002,433.21
2,215,114.57
3,217,547.78
(1,002,433.21)
2,215,114.57
1,672,395.06
1,002,433.21
2,674,828.27
(1,672,395.06)
1,002,433.21
7 CASH AND CASH EQUIVALENTS
Cash at bank
Cash at call
Interest bearing deposits
Cash on hand
Total Cash Assets
402,814.76
261,651.37
5,200,000.00
4,110.00
5,868,576.13
86,422.56
1,546,568.08
1,000,000.00
3,000.00
2,635,990.64
8 RECEIVABLES
Accrued Interest
Government Subsidies
Security bonds
Other Debtors
47,901.70
26,337.36
7,310.00
100,827.55
182,376.61
10,393.20
198,239.40
7,310.00
157,409.12
373,351.72
9 INVENTORIES
Goods in store 12,958.00 13,597.45
10 PREPAYMENTS
Expenses prepaid
Non Current – Architect Cost
21,607.78
5,000.00
2,026.30
–
2014/2015 Annual Report
Financial Statements Page 13
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015 (continued)
NOTE 2015
$
2014
$
11 LAND & BUILDINGS
Land – at cost
– at directors’ valuation 30 June 2006
– at directors’ valuation 30 June 2007
– at directors’ valuation 30 June 2010
– at directors’ valuation 30 June 2013
Building – at cost or fair value
Building in Progress
Less: Provision depreciation
Total Land and Buildings
634,010.65
356,677.84
2,749,311.51
1,260,000.00
3,000,000.00
8,000,000.00
27,690,957.41
-
27,690,957.41
(4,944,195.87)
22,746,761.54
30,746,761.54
634,010.65
356,677.84
2,749,311.51
1,260,000.00
3,000,000.00
8,000,000.00
25,472,903.33
424,105.30
25,897,008.63
(4,513,978.05)
21,383,030.58
29,383,030.58
12 FURNITURE & EQUIPMENT
Furniture and equipment – at cost
Less: Provision for depreciation
Total Property, furniture and equipment
2,867,711.91
(1,254,263.70)
1,613,448.21
32,360,209.75
2,547,628.34
(1,069,125.54)
1,478,502.80
30,861,533.38
Movement in Carrying Amounts
The movement in the carrying amounts for each class of property, furniture and equipment between the beginning and the end of the current financial year:
The total at beginning of the year:
Capital Additions
Write back in depreciation
Depreciation
30,861,533.38
2,118,459.57
(1,660.22)
(618,122.98)
32,360,209.75
25,879,586.93
5,622,629.81
(36,777.01)
(603,906.35)
30,861,533.38
13 PAYABLES
Trade Creditors
Refundable Residents Entry Contributions – Independent living units
Accrued Expenses
274,202.20
1,957,489.12
284,138.98
2,515,830.30
468,295.06
553,515.07
194,304.17
1,216,114.30
14 ACCOMMODATION BONDS/DEPOSITS
Accommodation bond within 12 months 1,113,642.50 546,798.50
Accommodation Bonds/Deposits be classified and disclosed as current liabilities as the company does not have an unconditional right to defer settlement of the liability after 12 months of the reporting date.
2014/2015 Annual Report
Financial Statements Page 14
NOTE 2015
$
2014
$
15 PROVISIONS – CURRENT
Provision for Sick Leave
Provision for Annual Leave
Provision for Long Service Leave
Provision for Superannuation
156,589.50
525,285.19
48,945.02
88,027.05
818,846.76
145,893.00
514,564.83
55,191.77
95,655.91
811,305.51
16 PROVISIONS – NON CURRENT
Provision for Long Service Leave 195,780.06 220,767.10
17 COMMITMENT FOR EXPENDITURE
A commitment for capital expenditure on construction of new facilities:
Payable no later than 12 months –
–
1,200,000.00
1,200,000.00
18 REMUNERATION OF DIRECTORS & INTERNAL AUDIT COMMITTEE
The Russian Relief Association reimburses travel and other costs incurred on behalf of the Association. No other remuneration was paid to the Board of Administration or the Internal Audit Committee during the year or during the previous year.
Total amounts received, or due and receivable by Directors and the Internal Audit Committee: 69,711.93 96,791.70
19 REMUNERATION OF AUDITOR
Total amounts received, or due and receivable by the auditors of the company for:
(a) Audit of the accounts
(b) Other Services 25,000.00
3,000.00
28,000.00
25,000.00
3,000.00
28,000.00
20 RELATED PARTIES
There were no related party transactions.
21 SUPERANNUATION ARRANGEMENTS
The Company contributes 9.5% of employees wages to their employees’ superannuation funds. The contributions are made in accordance with award requirements.
22 EVENTS SUBSEQUENT TO BALANCE DATE
There have been no significant events subsequent to balance date.
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015(continued)
2014/2015 Annual Report
Financial Statements Page 15
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015(continued)
NOTE 2015
$
2014
$
23 RECONCILIATION OF CASH FLOW FROM OPERATIONS WITH PROFIT FROM ORDINARY ACTIVITIES
Net Cash provided by Operations
– Depreciation
Change in Operating Assets & Liabilities
Change in inventories
Increase/(Decrease) in receivables
Loss on disposal of assets
(Increase)/Decrease in trade creditors and accrued expenses
(Increase) in employee entitlements
Increase/(Decrease) in prepayments
Profit from Ordinary Activities
5,693,175.11
(618,122.98)
(639.45)
(190,975.11)
(1,660.22)
(2,703,690.05)
17,445.79
19,581.48
2,215,114.57
2,063,064.32
(603,906.35)
(2,036.82)
(58,739.41)
(36,777.01)
(644,450.86)
312,266.02
(26,986.68)
1,002,433.21
24 FINANCIAL RISK MANAGEMENT
The company’s financial instruments consist mainly of deposits with bank accounts receivables and payables.
The totals for each category of financial instruments, measured in accordance with AASB 139 are as follows:
Within 1 Year Total Contractual Cash Flow
Financial Assets Note 2015 2014 2015 2014
$ $ $ $
Cash at Bank 7 402,814.76 86,422.56 402,814.76 86,422.56
Cash at Call 7 261,651.37 1,546,568.08 261,651.37 1,546,568.08
Cash on Deposit 7 5,200,000.00 1,000,000.00 5,200,000.00 1,000,000.00
5,864,466.13 2,632,990.64 5,864,466.13 2,632,990.64
Cash 7 4,110.00 3,000.00 3,000.00 3,000.00
Receivables 8 182,376.61 373,351.72 182,376.61 373,351.72
Total Financial Assets 186,486.61 376,351.72 185,376.61 376,351.72
Financial Liabilities
Entry contributions 13 1,957,489.12 553,515.07 1,957,489.12 553,515.07
Payables 13 558,341.18 662,599.23 558,341.18 662,599.23
Accom Bonds/Deposits 14 1,113,642.50 546,798.50 1,113,642.50 546,798.50
Total Financial Liabilities 3,629,472.80 1,762,912.80 3,629,472.80 1,762,912.80
2014/2015 Annual Report
Financial Statements Page 16
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015(continued)
NOTE
24 (continued)
Specific Financial Risk Exposures and Management
The main risks the company is exposed to through its financial instruments are credit risk, liquidity risk and market risk relating to interest rate risk and equity price risk.
(a) Credit Risk
Exposure to credit risk relating to financial assets arises from the potential non-performance by counterparties of contract obligations that could lead to a financial loss for the company.
The company does not have any material credit risk exposure as its major source of revenue is the receipt of federal government funding for aged care services. Credit risk is further mitigated as 70% of the revenue being received from federal government is in accordance with funding agreements which ensure regular funding for a period of 3 years with renewal of the accreditation as an aged care provider.
(b) Exchange Rate Risk Exposures
There were no financial assets or liabilities determined in foreign currencies and accordingly the Club does not carry any currency risk.
(c) Credit Risk Exposures
Trade and other receivables that are neither past due or impaired are considered to be of high credit quality. Aggregates of such amounts are as detailed in Note 8.
The company has no significant concentration of credit risk exposure to any single counterparty or group of counterparties. Details with respect to credit risk of Trade and Other Receivables are provided in Note 8.
Credit risk related to balances with banks and other financial institutions is managed by the finance committee in accordance with approved Board policy. Such policy requires that surplus funds are only invested with Authorised Deposit-taking Institution (ADI) that are Australian banks.
(d) Liquidity Risk
Liquidity risk arises from the possibility that the Company might encounter difficulty in settling its debts or otherwise meetings its obligations in relation to financial liabilities. The company manages this risk through the following mechanisms:
– preparing forward looking cash flow analysis in relation to its operational, investing and financial activities;
– maintaining a reputable credit profile;
– managing credit risk related to financial assets;
– only investing surplus cash with major financial institutions; and
– comparing the maturity profile of financial liabilities with the realisation profile of financial assets.
25 EMPLOYEES
The number of employees at 30 June 2015 was 173 (2014 -178).
26 ASSOCIATION DETAILS
The principal place of business is:
Russian Relief Association of St Sergius of Radonezh Limited
1 Gilbert Street
Cabramatta NSW 2166
2014/2015 Annual Report
Financial Statements Page 17
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015(continued)
NOTE
27 SEGMENT REPORTING
Accounting Policies
Segment revenues and expenses are those directly attributable to the segments and include any joint revenue and expenses where a reasonable basis of allocation exists. Segment assets include all assets used by a segment and consist principally of cash, receivables, inventories, intangibles and property, plant and equipment, net of allowances and accumulated depreciation and amortisation. Segment liabilities consist principally of payables, employee benefits and accrued expenses.
The Company provides residential aged care services from its own facilities at Cabramatta in New South Wales
2015
Business Segments
Residential Aged Care
Community support Services
Administration and
Unallocated
Independent Living Unit
Total
Revenue
Government grants and subsidies 11,256,305.54 345,023.10 - - 11,601,328.64
Residents and client fees 3,336,476.77 - - - 3,336,476.77
Other operating revenue 176,025.95 - 18,273.60 - 194,299.55
Accommodation bond retentions 10,968.00 - - - 10,968.00
Interest received 119,474.49 - - - 119,474.49
Rent received - - 89,436.94 66,804.18 156,241.12
Donations - - 7,578.70 100,000.00 107,578.70
Membership - - 2,680.00 - 2,680.00
Total segment revenue 14,899,250.75 345,023.10 117,969.24 166,804.18 15,529,047.27
Result
Segment profit before income tax 2,631,765.21 (94,619.10) (471,242.25) 149,210.71 2,215,114.57
Income tax expense - - - - -
Segment profit after income tax 2,631,765.21 (94,619.10) (471,242.25) 149,210.71 2,215,114.57
Segment assets 33,195,579.93 - 2,890,876.93 2,364,271.41 38,450,728.27
Segment liabilities (2,686,610.50) - - (1,957,489.12) (4,644,099.62)
Net Assets 30,508,969.43 - 2,890,876.93 406,782.29 33,806,628.65
2014/2015 Annual Report
Financial Statements Page 18
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015(continued)
NOTE
27 (continued)
2014
Business Segments
Residential Aged Care
Community support Services
Administration and
Unallocated
Independent Living Unit
Total
Revenue
Government grants and subsidies 8,598,154.94 121,567.4 - - 8,719,722.34
Residents and client fees 3,047,209.33 - - - 3,047,209.33
Other operating revenue 51,500.00 - - - 51,500.00
Accommodation bond retentions 17,857.35 - - - 17,857.35
Interest received - - 150,117.80 - 150,117.80
Rent received - - 90,104.34 45,289.66 135,394.00
Donations - - 1,550.00 80,000.00 81,550.00
Membership - - 1,910.00 - 1,910.00
Total segment revenue 11,714,721.62 121,567.40 243,682.14 125,289.66 12,205,260.82
Result
Segment profit before income tax 1,000,574.25 68,160.60 (191,591.30) 125,289.66 1,002,433.21
Income tax expense - - - - -
Segment profit after income tax 1,000,574.25 68,160.60 (191,591.30) 125,289.66 1,002,433.21
Segment assets 30,841,183.41 - 2,390,876.93 654,439.15 33,886,499.49
Segment liabilities (2,241,470.34) - - (553,515.07) (2,794,985.41)
Net Assets 28,599,713.07 - 2,390,876.93 100,924.08 31,091,514.08
2014/2015 Annual Report
Financial Statements Page 19
Notes to and Forming Part of the Accounts for the Year ended 30th June 2015(continued)
NOTE
Residential Aged Care Expenses 2015 2014
Employee benefits 7,904,541.89 6,608,725.58
Premises 1,337,430.52 1,090,206.49
Motor vehicle 11,952.46 5,533.58
Food services 1,378,664.73 1,145,591.94
Client services 585,469.46 590,677.37
Depreciation and amortisation 449,768.36 602,204.46
Purchased services external 106,740.54 96,777.47
Loss on disposal non-current assets 1,660.22 36,777.01
Other 491,257.36 537,653.47
Total residential aged care expenses 12,267,485.54 10,714,147.37
Residential aged care assets
Current 6,085,518.52 3,024,966.11
Non-current 27,110,061.41 27,816,217.30
33,195,579.93 30,841,183.41
Residential aged care liabilities
Current
Accommodation bonds 1,113,642.50 546,798.50
Staff provisions 818,846.76 811,305.51
Other 558,341.18 662,599.23
Total 2,490,830.44 2,020,703.24
Non-current
Staff provisions 195,780.06 220,767.10
Other borrowings - -
195,780.06 220,767.10
2014/2015 Annual Report
Financial Statements Page 20
THE RUSSIAN RELIEF ASSOCIATION
OF ST SERGIUS OF RADONEZH LIMITED
ABN: 20 071 400 470
DIRECTORS’ DECLARATION Page 20 The Directors of The Russian Relief Association of St Sergius of Radonezh Limited declare that: 1. the financial statements and notes, as set out on pages 5-19:
(a) comply with Accounting Standards and the Corporations Law: and (b) give a true and fair view of the financial position as at 30 June
2015 and performance for the year ended on that date of the company;
2. in the directors’ opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.
This declaration is made in accordance with a resolution of the Board of Directors. ________________________ ________________________ Mrs Irene Ryan Mr Alex Hughes Director / President Director / First Vice President Dated: 26 August 2015
2014/2015 Annual Report
Financial Statements Page 21
Page 21
C M PITT & CO
Chartered Accountants TELEPHONE (02) 9715 1555 6/2 PHILIP STREET FACSIMILE (02) 9715 1566 STRATHFIELD NSW 2135 PO BOX 580 CHARLES M PITT B.Bus FCA E-MAIL [email protected]
RUSSIAN RELIEF ASSOCIATION OF ST SERGIUS OF RADONEZH LIMITED ABN: 20 071 400 470
I N D E P E N D E N T A U D I T R E P O R T
To the members and Residents of the Russian Relief Association of St Sergius of Radonezh Limited. Report on the financial report We have audited the financial report of the Russian Relief Association of St Sergius of Radonezh Limited, which comprises the statement of financial position as at 30 June 2015 the statement of profit or loss and other comprehensive income, statement of changes in equity and statement of cash flows, and notes to and forming part of the Financial Statements and Statement by Directors. Directors' responsibility for the financial report The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance the Australian Accounting Standards and for such internal control as the directors determine is necessary to enable the preparation of the financial statement that is free from material mismanagement, whether due to fraud or mismanagement. This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor's responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Chartered Accountants
Liability limited by a scheme approved under Professional Standards Legislation
2014/2015 Annual Report
Financial Statements Page 22
Page 22 RUSSIAN RELIEF ASSOCIATION OF ST SERGIUS OF RADONEH LIMITED
ABN: 20 071 400 470 I N D E P E N D E N T A U D I T R E P O R T
Independence In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. Audit Opinion In our opinion, the financial report of the Russian Relief Association of St Sergius of Radonezh Limited, is in accordance with: (a) the Corporations Act 2001, including:
i) giving a true and fair view of the company’s financial position as at 30 June 2015,
and of their performance for the year then ended on that date.
ii) complying with Australian Accounting Standards – Reduced Disclosure Requirements and the Corporations Regulations 2001;
Charles M Pitt C M PITT & CO ASIC Auditor Number: 2944 Chartered Accountants Units 6 & 7, 2 Philip Street STRATHFIELD NSW 2135 Dated: 26 August 2015
НОВЫЕ КВАРТИРЫ для пожилых в поселке “СЕРГИЕВ ПОСАД” При Русском Благотворительном
Обществе Преподобного Сергия Радонежского
1 Gilbert St, Cabramatta NSW 2166 | Tel: (02) 9727 9844 | www.stsergius.org.au | email: [email protected]
Если вы заинтересованы и желаете получить подробную информацию, пожалуйста, обращайтесь с 9 утра до 4 х дня Алексею Александровичу Жигунову по телефону 9727 9844.
Мы предлагаем на выбор четыре типа постройки и приглашаем вас посмотреть планы и выбрать подходящий для себя вариант.
Квартиры находятся в 25 км. от центра Сиднея.
Вам будут предоставлены следующие услуги:
• Вкусная и полезная пища, приготовленная нашими поварами.
• Уборка квартиры и услуги прачечной.
• Комната для отдыха, ТВ и столовая.• Зал для развлечений, концертов и
ваших семейных праздников.• Раз в месяц организованные поездки
на нашем автобусе в любое место по общему выбору пассажиров.
• Предоставляется наш автобус для поездки в магазин за продуктами.
• Парикмахерский салон• Кабинет физиотерапии• Кабинет ароматерапии• Педикюр• Отдельный кабинет для встреч
и медицинского обслуживания с вашим доктором.
• Площадка для барбекью для общего пользования.
• Закрытая и безопасная стоянка для автомобилей.
• Медицинская помощь 24 часа в сутки.
• Все квартиры подключены к Nurse call system.
• Св.Покровский Храм рядом.• Несколько минут ходьбы до
станции поезда.• Автобусная остановка около
въезда в новый комплекс.• Библиотека.
LEASING COSTSOne BEDROOM Total leasing cost $140 000
Two BEDROOM second & third floor Total leasing cost $170 000
Two BEDROOM ground floor Total leasing cost $180 000
Artist’s impression of a 2 Bdr unit in a single storey building. View to Lounge room View to kitchen. Main bedroom. Bathroom.
Русское Благотворительное Общество имени Св. Сергия Радонежского открывает запись на односпальные и двухспальные квартиры с плана новой постройки.
Nursing Home | Home for the Aged | Dementia Hostel | Independent Living Units
1 Gilbert Street, Cabramatta NSW 2166
Tel: (02) 9727 9844 | www.stsergius.org.au | email: [email protected]
Trading as the Russian Relief Association of St Sergius of Radonezh