Annual Report 2022–2023

Finances

Financials at a glance

APMHA Healthcare Ltd (APMHA) delivered another year of solid underlying financial performance, demonstrating stringent financial management and resolve in a challenging financial landscape.

Company Accountant Report

Charles Mahagodage

Senior Financial Accountant

APMHA’s commitment to financial discipline and improved internal efficiencies, ensures ongoing sustainability, growth and successful service delivery across all programs. Our strong performance was delivered despite the lingering challenges of the COVID-19 pandemic, as well as natural disasters in some contracted regions, including the floods in NSW and Victoria, with our organization response exemplifying our financial acumen and adaptability as a company.

APMHA reported a surplus of $296K for the year, whilst our net asset position improved from $1.4M to $1.7M compared to last financial year; a testament to the overall health of the company.

We assess funding opportunities through internal review processes, ensuring APMHA services align with community needs and our company’s strategic direction. Business and financial risk assessments are conducted, and business continuity plans are developed, ensuring viability, efficiency and effectiveness of service delivery. Funding acquittals are audited by an independent external auditor, underscoring responsible and transparent reporting.

I would like to extend a thank you to our main funders,  Primary Healthcare Networks (PHNs) for allowing us to undertake this important work. I would also like to thank our board of directors and executive team for their guidance and support in shaping our financial strategy. We will continue to work diligently to ensure APMHA’s financial resources to effect positive mental health changes for local communities. We look forward to another year of growth and achievement.

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