News Video | Policy | GPs | Hospitals | Medical | Mental Health | Welfare | Search


Richmond Posts Financial Surplus

31 August 2005

Richmond Posts Financial Surplus after Difficult Year

Richmond Fellowship New Zealand has recorded an overall surplus on its annual balance sheet for the 2005 financial year, in spite of operational losses on some services and high costs associated with accreditation processes.

Richmond’s chief executive, Dr Gerry Walmisley, says the audited financial surplus of $674,000 is a satisfactory result considering the focus of 2004/05 was on quality systems rather than growth of services.

“This result takes into account the losses on some areas of our operations, and is realistic considering the current difficult environment. We do, however, have to acknowledge a modest operating deficit, which is due largely to a reduced rate of growth and budget over-runs in one or two cost centres.”

Some of these services will require further attention and strong financial management. These include the organisation’s Christchurch-based Regional Disability and Supported Accommodation Service (RIDSAS), which provides specialist services for young intellectually disabled people with high and complex needs.

“Overall, the position for the coming year looks positive. It is pleasing to note that we have negotiated a considerable amount of new business towards the end of the financial year and the operational issues at a service level are being addressed.

“Our investment in quality systems has been an important journey. These new systems, and the many new internal processes which have been developed, are the foundation for the next stage of Richmond’s development.”

Richmond was surveyed by auditors from Quality Health New Zealand earlier this month, following months of intensive planning and preparation. “The preliminary feedback from the auditors has been more than positive," says Dr Walmisley. “While it’s inevitable there will be some issues which require further action, we’re looking forward to a favourable report from the auditors in November.

“Richmond's investment in providing a solid and professional service base will provide a satisfactory operating position for the year ending June 2006.”

About Richmond Fellowship

Richmond Fellowship is a major provider of community support services throughout New Zealand. The Fellowship has developed specialist services for a range of purchasers including the Ministry of Health, Community and Public Health, Child Youth and Family Service and District Health Boards.

Services include support programmes for people with mental, psychiatric or psychological illness, respite and emergency support, consumer based drop-in services, specialist youth services and dual diagnosis services (including intellectual disability/mental illness).


© Scoop Media

Culture Headlines | Health Headlines | Education Headlines

Legendary Bassist David Friesen Plays Wellington’s Newest Jazz Venue

Friesen is touring New Zealand to promote his latest album Another Time, Another Place, recorded live at Auckland's Creative Jazz Club in 2015. More>>

Howard Davis Review: The Father - Descending Into The Depths of Dementia

Florian Zeller's dazzling drama The Father explores the effects of a deeply unsettling illness that affects 62,000 Kiwis, a number expected to grow to 102,000 by 2030. More>>

Howard Davis Review: Blade Runner Redivivus

When Ridley Scott's innovative, neo-noir, sci-fi flick Blade Runner was originally released in 1982, at a cost of over $45 million, it was a commercial bomb. More>>

14-21 October: New Zealand Improv Festival In Wellington

Imagined curses, Shibuya’s traffic, the apocalypse, and motherhood have little in common, but all these and more serve as inspiration for the eclectic improvised offerings coming to BATS Theatre this October for the annual New Zealand Improv Festival. More>>


Bird Of The Year Off To A Flying Start

The competition asks New Zealanders to vote for their favourite bird in the hopes of raising awareness of the threats they face. More>>

Scoop Review Of Books:
Jenny Abrahamson's John & Charles Enys: Castle Hill Runholders, 1864-1891

This volume will be of interest to a range of readers interested in the South Island high country, New Zealand’s natural environment, and the history of science. More>>



  • Wellington
  • Christchurch
  • Auckland