Warrigal’s 2021 Annual General Meeting hears how Warrigal has doubled in size in just 4 years (2)
- Created on Thursday, 28 October 2021 06:00
On Monday, 25 October 2021, Warrigal held its Annual General Meeting (AGM) attended by its Board of Directors, Executive Managers and Company Members, including one of the founding members, 101 year old Norm Rowland OAM of Shellharbour. It was held online, under the chairmanship of Wyn Janssen to protect the health and safety of all parties in the context of the Covid-19 pandemic.
Three annual addresses were given by the Chairman, The Chair of the Business Risk and Audit Committee, Wayne Morris, and Warrigal’s CEO, Mark Sewell, on the year that was, plans for the future as well as on the results of the July 2020 to June 2021 financial year.
The meeting reflected on the historic challenges Warrigal has faced in the past 12 months which included the global COVID-19 pandemic, the start of the implementation of the recommendations from the Aged Care Royal Commission and the acquisition by Warrigal of the 2 BUPA homes in Canberra. Thriving amongst these challenges has put Warrigal in a very strong position to move forward.
Warrigal’s key financial results were also presented with the unprecedented cost pressures causing a significant situation over the last few years that has now been turned around. Warrigal’s unprecedented growth is being delivered, at the same time as a financial recovery plan and the pandemic response plan.
Some of the FY21 Highlights:
- Warrigal’s reported surplus of $107m for the year is a change in accounting policy to better reflect the current value of property assets.
- Warrigal’s underlying operating deficit was $9.6m reflecting the high costs of Covid protection, the commissioning of a new multi-level home at Queanbeyan and the acquisition of two homes in Canberra at Calwell and Stirling.
- Expansion of Residential Care licences to 1255 beds is up from 695 in 2018. Warrigal’s care homes bed numbers have doubled in 4 years to now be a strategically significant size of over 1000 beds and in the top 5% of providers in Australia.
- Warrigal has grown its total assets from nothing in 1967 to $472m in 2021 which demonstrates how a small band of local volunteers can create a significant organisation, still owned and governed by local volunteers on behalf of the community.
- A new Strategic Plan titled ‘Towards 2030’ is being developed now. This revised strategy will set a new focus on particular services that the community needs as Warrigal uses its impressive team and culture to move forward even faster.
Warrigal’s Annual Report was also officially launched at the event, documenting the organisations’ achievements, opportunities and challenges over the past year. Warrigal’s annual reports often win awards at the Australasian Annual Reporting Awards for their transparency and innovative presentation of information. CEO, Mark Sewell says the organisation has come a long way since it began on Mt Warrigal but still has the DNA of a trusted local friend who listens to older people and meets their housing and care needs. It’s a simple formula that has worked for several thousand older people every year and plans to keep doing so for many years to come.
Media Contact: Elsbeth Olalia | Community Relations Manager | M +61 (4) 3665 5808