Chair of Finance Report

I am honoured to assume the role of Chair of Finance for Country SA PHN and express my gratitude for the opportunity to contribute to this remarkable organisation.

Country SA PHN’s mission to support health and wellbeing in regional South Australia aligns with my own values, and its dedication to addressing the unique health challenges of remote communities is a cause I wholeheartedly support.

I follow in the footsteps of John Curnow, previous Chair of Finance, whose exceptional leadership has left Country SA PHN’s financial foundation strong and seamless for my transition.

Our CEO, Mark Hartigan (previously CFO), and his finance team deserve credit for maintaining our financial stability despite some challenges and changes in the team. Auditors from William Buck confirm the organisation’s ongoing strong financial performance.

I recommend accepting the Financial Report and Audit report.

In the 2022-23 financial year, we experienced a modest expected increase in income by $8.3M, reflecting our ability to provide even more services to South Australian communities. Additionally, the surplus has seen a slight increase (a total of $402k), largely driven by the increased interest rates. This provides us with more resources for reinvestment.

We experienced a modest expected increase in income by $8.3M, reflecting our ability to provide even more services to SA communities.

The launch of the Rural Health Innovation Fund, a ground-breaking initiative, allows us to reinvest surplus funds into the community, supporting innovative ideas that may not qualify for mainstream funding. Country SA PHN’s thought leadership in this regard is both innovative and courageous, and I applaud our management for conceiving and successfully implementing this bold project. While this activity is not yet reflected in the 2022-23 financial report, we eagerly anticipate its future impact, including through opportunities for co-investment with other stakeholders to increase our collective impact and reach.

In addition to the Fund initiative, our performance in core activities, department-set KPIs, and the rollout of Performance-Based Commissioning allows Country SA PHN to serve as a model of sound business acumen and strong governance culture on the national stage, among other PHNs.

Lastly, I extend my heartfelt thanks to John Curnow for his outstanding service and leadership as Chair of Finance. I am looking forward to contributing to the continued success and positive social impact of Country SA PHN in regional South Australia.

Professor Svetlana Bogomolova Chair of Finance*

*As accepted at the Country SA PHN 2023 Annual General Meeting