Annual Performance Statement
The Trustees, as the accountable authority of the Royal Australian Air Force Welfare Trust Fund, present the 2019 – 2020 annual performance statement of the Royal Australian Air Force Welfare Trust Fund, as required under paragraph 39(1)(a) 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 entity, and complies with subsection 39(2) of the PGPA Act.
The purpose of the Royal Australian Air Force Welfare Trust Fund is to provide benefits for members of the Defence Forces who have served in, or in association with, the Royal Australian Air Force and to the dependants of such members.
The following activities, as detailed in the Royal Australian Air Force Welfare Trust Fund corporate plan for the reporting period 2019 -2020, enabled the Fund to meet objectives.
Performance Monitoring and Measurement
Low cost loans
Objective: Make low cost loans available to eligible persons
Results: The Fund provided 2808 loans to Air Force members totalling $13,161,400.
1. $13,161,400 was loaned to Air Force members compared with $14,792,100 in the previous year. Loan requests decreased during the reporting period. An individual reason could not be ascertained, however, COVID 19 restrictions reduced workplace attendance, which may have contributed to the lower numbers.
2. Loans paid to lower-paid personnel represented 61% of all loans.
3. The maximum value of the loan available to service personnel increased to $5,000 from $4,500 in January 2018.
4. Members apply using a digital loan application. This application was upgraded and released in March 2020.
Grants to Individuals
Objective: Make grants available to serving and ex-serving personnel who are suffering from financial hardship or make grants available to serving members suffering from the effects of natural disaster.
Results: Ten requests for support were approved.
Bushfires did not overly impact serving members, however one member sought and received bushfire assistance. Three members received support as a result of additional expenses related to COVID 19.
1. Ten general hardship and disaster relief requests in support of serving or ex-serving members or their families were approved totalling $36,756.
Grants to Bases
Objective: Provide grants to Air Force Bases for welfare related projects.
Results: The sum of $175,625 was approved and distributed among Air Force Bases for welfare related projects.
1. Grants to Bases were approved by the Board.
2. The grants provided to Bases covered a wide range of welfare related activities and are expected to have a significant positive affect on the welfare and amenity of Air Force members and their families.
3. Previous funding under the scheme must be acquitted before current grants are paid.
4. After grant payments the Fund realised a surplus of income over expenditure in excess of $250,000. This surplus is sufficient to cover any expected expenses and provide growth for the Fund.
Group Life Insurance Scheme
Objective: Provide permanent serving Air Force personnel with the opportunity to participate in a low cost insurance scheme.
Results: 7641 permanent Air Force members were participating in the scheme as at 30 June 20. Membership remained steady with a minor decrease from 7808 from the end of the previous financial year.
1. Based on a permanent Air Force workforce of approximately 14,586 personnel the participation rate achieved was 52%.
2. Contractor (Ezidebit) provided an appropriate means of managing and collecting member contributions.
3. The Fund achieved a surplus of over $38,000 after taking into account administration and underwriting fees.
4. 7 payments of $15,000 were made to beneficiaries of deceased personnel during the reporting period.