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Financial Management

Budget brings some relief for struggling Australians

By Business, Financial Management

The federal Budget this week prioritised measures aimed at alleviating the strain of living costs, responding to calls from various sectors addressing issues like homelessness, housing affordability, and electricity costs. Treasurer Jim Chalmers highlighted a $9.3 billion surplus while unveiling initiatives such as a power bill rebate, increased rental assistance, tax cuts, student debt reduction, and funding for domestic violence support and aged care. However, despite some welcome measures, organisations like the Antipoverty Centre, Mission Australia, and Anglicare expressed disappointment, emphasising the need for more substantial support, especially for disadvantaged Australians. Additionally, concerns were raised regarding the lack of sufficient support for mental health and environmental issues, indicating that while the Budget addressed some immediate concerns, deeper and more comprehensive solutions are needed for lasting impact.

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Budget is great intel for not-for-profits

By Business, Financial Management, Other

Not-for-profits should closely examine the federal Budget for opportunities to help solve some of the biggest challenges facing the country, according to a leading social sector economic commentator.

While acknowledging the budget’s efforts to assist struggling sectors, Emma Dawson, the executive director of the Per Capita economic think tank, urges not-for-profits to strategically engage with government policies, highlighting their role in providing solutions and advocating for long-term structural reforms to address economic inequality, tax concessions, and housing affordability.

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Don’t Wait for a Crisis to Reduce Costs

By Business, Financial Management

Leaders who take a hard, holistic look across their cost base will find opportunities to reposition their companies for future growth. But they must act boldly and decisively to achieve a competitive cost position.

In this article, the authors discuss five critical actions that CEOs and other executives can take to tackle cost challenges.

Collectively, these measures help organisations sustain efficiency and redirect resources to invest in innovation, promote growth, and capture value..

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ProBono: 2023 NFP Salary Survey​

By Business, Financial Management

The Salary Survey has been helping not-for-profit organisations for 11 years by mapping out trends and offering in-depth analysis. 

The report allows individuals and organisations to effectively benchmark their remuneration practices, allowing you to offer appropriate salaries to new employees, and manage the retention and satisfaction of existing employees.

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Reviewing charities’ financial information and annual financial reports​

By Board & Governance, Business, Financial Management

Each year, charities must submit an annual return to the ACNC – the Annual Information Statement. Alongside their Annual Information Statements, medium and large charities must also submit an annual financial report (AFR), which must comply with the ACNC’s requirements for financial reports.

The ACNC emphasises the importance of voluntary disclosure of information in AFRs to enhance transparency, accountability, and public trust in the charitable sector, and they regularly review the quality and accuracy of these reports to improve reporting compliance and guidance.

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A ‘tentatively good’ budget for not-for-profits and charities

By Board & Governance, Business, Financial Management, Revenue - Fundraising

David Crosbie, CEO of the Community Council for Australia assessment is that this budget passes – and takes some important steps in the right direction – but it is not a bold or assertive budget, and lacks significant and sustained investment in programs and services that could make a real difference to charities, not-for-profits, and the communities they serve.

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The Status of ANZ Fundraising – 2022 Benchmark Report​

By Board & Governance, Business, Financial Management, Revenue - Fundraising, Revenue - Other

The very first Status of ANZ Fundraising Report featuring the views and insight of charity professionals working in organisations across Australia and New Zealand. ​

The report creates a comprehensive view of fundraising in 2022 and provides a unique opportunity for charities looking to benchmark their performance.

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Finding a new way forward​

By Board & Governance, Business, Financial Management, Operations, People & Culture

At a time of relatively high and increasingly expensive government debt, rising cost of living pressures, growing inequality, and increasing pressure to meet community expectations for government services and support, the budget is a step forward from where we were, but still well short of where we need to get to.

David Crosbie provides an interesting insight into the Federal Budget he writes, in many ways this budget was a full stop to the work of the previous Morrison government, a reorientation to the new federal government agenda and workplan.​

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