SHA had a deficit of $79,796 in the year from 1 July 2022 to 30 June 2023, compared to a deficit of $67,070 in the prior year.
Income for 2023 was $1,352,725 which is $30,125 less than the previous year. The largest component of income was recurrent grants from the Victorian Government, totalling $1,353,562, of which $1,307,568 has been recognised in the Income statement this financial year and $46,084 on the Balance Sheet for future projects.
Expenses for the year were $1,432,521, a decrease of $17,399 from the previous year. Grant disbursements to member faith communities were $609,570, less than the previous year by $52,630.
Employee expenses for the year is higher than previous year by 10 percent. Decrease in depreciation of $8,416 from previous year and decrease in other expenses by $16,201 compared to previous year.
At 30 June 2023 SHA had cash of $582,325, 94 percent of total assets. Total liabilities increased by $65,092 compared to previous year. After providing for all liabilities SHA had net assets of $448,262 at 30 June 2023.
The following is abbreviated income and balance sheet information.