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Analysis of performance against purpose
Holiday facilities recorded an operational loss and, as such, a negative return on accommodation investment. However, a 3 per cent land appreciation was reported for the Goolwa’s properties. The Company’s financial investment portfolio experienced downward pressure in the second quarter and third quarter, however a bounce back in the final quarter. Overall a positive return for the Company’s investment portfolio for the reporting period.
Positive returns from the investment portfolio and asset appreciation were offset by a negative return of holiday operations. With proactive and targeted marketing, it is anticipated operational outcomes for holiday facilities will move towards a positive outcome.
The Messes Trust Fund was non-operational in this reporting period and its closure will be explored in 2019-20.
Other contributing factors that have enabled the performance of the Company to achieve its purpose as set out in its Corporate Plan 2018-19 are:-
- strategic direction and decisions of the Board, and the oversight of the Audit Committee;
- the delivery of its activities through the secretariat’s management of operations ensured;
- self-sustainment achieved through investment portfolio continuing to generate growth to cover annual operational costs with reserves for the future needs of the Trusts;
- the environment that the Company as the trustee operates in has not experienced any changes that would significantly impact on operations; and
- the ability to mitigate any risk during the reporting period.