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Australian Military Forces Relief Trust Fund Annual Report 2018–19

Introductory statement

We, the Board of Trustees of the Australian Military Forces Relief Trust Fund (AMFRTF), as the accountable authority of the Fund present the AMFRTF 2018-19 Annual Performance Statement as required under section 39 (1) of the Public Governance, Performance and Accountability Act 2013 (PGPA Act).

In our opinion, this Annual Performance Statement is based on properly maintained records, accurately reflects the performance of the AMFRTF and complies with the requirement under section 39(2) of the PGPA Act.

Purpose

The purpose of the AMFRTF is to provide benefits through loans and grants that contribute to the welfare of members of the Australian Army, in particular members who have served in the Australian Army and for the dependants of these members. This accords with the objectives as defined in the Services Trust Funds Act 1947.

The AMFRTF has set goals to continually achieve this purpose. These goals cover the current and subsequent years of the AMFRTF Corporate Plan 2018-19.

Results

*Performance criterion* Provide financial assistance to members of the Army through the provision of low cost and affordable loans.
*Criterion source* AMFRTF Corporate Plan 2018-19 Activity 1
1. Funds disbursed within the guidance annual budget $4.160m. 2. Number and types of loans are in scope. The following table shows the analysis of loan funds for the year ended 30 June 2019:
Loan Type	Numbers of loans	Amounts $
Debt consolidation Dental Education Funeral expenses Furniture / household needs Housing purchase / repair / moving Legal Medical Other – multi types Travel Vehicle repair / purchase Wedding / engagement	192 13 26 10 129 93 43 48 78 34 180 38	911,600 54,800 114,200 42,900 607,400 450,000 200,500 204,450 358,000 164,000 847,900 188,000
Total	884	4,143,750

3. The target of greater than 75% of loans issued to junior ranks (Sergeant and below) was met. The following table shows the analysis of loan funds for the year ended 30 June 2019:
Ranks	Loans %	Amounts $
Private	45	1,894,750
Lance Corporal	8	334,500
Corporal	22	901,400
Sergeant	12	466,100
Warrant Officer	6	239,500
Lieutenant	1	54,000
Captain	4	153,100
Major	2	90,400
Lieutenant Colonel	0	10,000
Total	100	4,143,750

Performance criterion

Provide financial assistance to former members or dependants in financial and necessitous circumstances through hardship grants.

Criterion source

Corporate Plan 2018-19 Activity 2

Results

A total of $3,843 was funded under hardship grants in this reporting period. These grants were within the approach to the strategic direction of the Board. Two hardship grants were provided to support a former Army member for medical assistance and a grant paid to cover expenses on behalf of dependants of a serving member during the reporting period.

Performance criterion

Use sound financial management and investment practices in accordance with PGPA Act and Services Trust Funds Act 1947 and other relevant standards, rules and legislation.

Criterion source

Corporate Plan 2018-19 Activity 3