Directors’ report

05 Governance and reports

Your directors present this report to the members of the consolidated entity (‘the group’), consisting of The Royal Australian College of General Practitioners Ltd (‘the company’ or ‘RACGP’) and its controlled entities at the end of, or during, the financial year ended 30 June 2018.

Principal activities

The RACGP is Australia’s largest professional general practice organisation and represents urban, rural, regional and remote general practitioners. The RACGP is a not-for-profit entity and is endorsed as a deductible gift recipient (DGR) under subdivision 30B of the Income Tax Assessment Act 1997 for donations made for education or research in medical knowledge or science.


Objectives

The RACGP’s objectives are to improve the health and wellbeing of all people in Australia by supporting GPs, general practice registrars and medical students through its principal activities of education, training and research and by assessing doctors’ skills and knowledge, advocacy, supplying ongoing professional development activities, developing resources and guidelines, helping general practitioners (GPs) with issues that affect their practice, and developing standards that general practices use to ensure high-quality healthcare.

The RACGP has a proud history of achievements, including the development of the Standards for general practices and introducing continuing professional development. The RACGP carries out its activities within the following areas of strategic focus:

  • education and training for general practice
  • innovation and policy for general practice
  • advocacy
  • collegiality.

Performance measures

The RACGP monitors and reports on performance to the RACGP Council through governance reporting mechanisms during:

  • Council meetings
  • Finance Audit and Risk Management Committee of Council meetings
  • other Council sub-committee and advisory board meetings.

Results of operations

During the financial year ended 30 June 2018, the group recorded a total surplus after tax of $413,430 compared to $495,056 in 2017. Over the year, the net assets of the group increased from $27,753,968 to $34,017,398. As a result of asset revaluation during the year, an increment of $5,850,000 was taken to the asset revaluation reserve.


Significant changes in the state of affairs

There were no significant changes in the state of affairs of the group that occurred during the financial year that are not otherwise disclosed in this report or the financial statements.


Performance in relation to environmental regulation

There was no environmental legislation applicable to the operations of the group that has not been complied with.


Likely developments and future results

The group anticipates that it will maintain in 2018–19 its positive financial position. The group is continually updating, reviewing and improving its management and governance practices to ensure that the objectives and obligations of the group and its directors are met.


Dividends

The company is a company limited by guarantee and its Constitution precludes the payment of dividends.


Events subsequent to the end of the financial year

No circumstances have arisen since the end of the year that have significantly affected or may significantly affect the operations, the results of those operations or the state of affairs of the group in future financial years.