The Prisoners’ Aid Association of New South Wales Inc has released its Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2021. Here’s a brief overview of the key figures compared to 2020.
Revenue
- Service Revenue: Increased slightly from $421,554 in 2020 to $437,643 in 2021.
- Government Assistance (JobKeeper & Cashflow Boost): More than doubled, rising from $52,821 to $122,070.
- Other Income: Dropped sharply from $87,055 in 2020 to $4,374 in 2021.
Expenses
- Cost of Goods Sold: Rose from $445,025 in 2020 to $557,694 in 2021, contributing significantly to total expenses.
- Other Expenses: Declined from $57,803 to $9,468, reflecting a decrease in certain overhead or administrative costs.
Overall Result
- Surplus/(Deficit) Before Income Tax: The Association moved from a $58,602 surplus in 2020 to a $3,075 deficit in 2021.
- No Income Tax Expense: The total comprehensive result mirrors the pre-tax figure in both years.
While the increase in service revenue and government support helped offset some costs, the steep drop in other income and rise in cost of goods sold resulted in an overall deficit. The Prisoners’ Aid Association of NSW continues to work toward financial stability while maintaining its commitment to delivering vital support services for individuals transitioning out of the justice system.
