The Trusts have released their 2022 annual report.
Despite last year’s challenges of lockdowns and the new traffic light system, we are pleased to report financial growth from our operating assets. We gave improved financial systems to the community including two Your West Support Funds valued at $1,515,00 and continued to bestow sponsorship to the value of $370,000.
Here, we are releasing the full set of WATS accounts for the first time in our history, establishing full transparency. We also moved from the historical property cost model to fair value to better reflect the total value of the community’s assets. As a result, you will note a significant increase in both property value and equity.
Last year we were thrilled to introduce four Liquorland banner franchises to The West. This marks the first time in 50 years that a national banner has run in our region. It means an increase in brand competition and promotional choice with The Trusts continuing to distribute all the surplus profits throughout The West.
We were delighted to announce that from September 1, 2021, we would be paying the living wage. We also included parity payment increases to most of the team - more than 85 per cent of our workforce.
Here is the 2022 annual report.