WAFarmers has recorded an operating surplus for the first time since 2010, after recharging their finances and reconnecting with members over the past 12 months.
The $22,382 surplus, achieved through a $140,000 turnaround from the previous year, was the result of hard work in aligning with the advocacy group’s five-year Re-charge, Re-connect Business Plan.
While total income decreased by 1.7 per cent to $1.6 million, it was positively offset by a 9.6 per cent decrease in expenditure after an increase in staff FTE numbers, largely attributable to the significant reduction in office costs associated with relocation from Burswood to Guildford.
“The Board and executive team were committed to decreasing expenditure while also exploring alternative revenue streams, so the surplus comes off the back of a challenging situation,” WAFarmers Chief Executive Officer Stephen Brown said.
“In addition to focusing on strengthening our financial position, the first full year of sales for WAFarmersFirst Milk proved to be a successful new revenue stream.
“Notably, the surplus was achieved after an increase in expenses associated with travel, which enabled our staff, Directors and Commodity representatives to spend more time representing our members on local, state and national platforms.”
Mr Brown said the next step after continuing to develop the processes towards surplus would involve the creation of additional positions at WAFarmers.
“This month we will add an additional Policy staff member, giving us three full time, highly experienced people in this area, and also a Membership Coordinator,” he said.
“The new staff will take our total team number to 10 people, all of whom will be focused on membership and the benefits for our members, including advocacy for our members in the Western Australia’s agricultural sector.”
All media requests must be directed to WAFarmers Media and Communications Officer Melanie Dunn on (08) 9486 2100 or [email protected].