8

Governance and Financials

Finance

APC experienced high demand for services in 2021-22, which provided for a strong financial result. Overall, expenditure was on budget at year end, despite this significant increases in operations. This was partly a result of ongoing Covid restrictions.

The favourable operating outcome, compared to budget is primarily due to:

  • New accreditation programs
  • Increased applications for skills assessments, due in part to the relaxing of border restrictions through the pandemic, and the inclusion of APC on the PMSOL register, substantially increasing demand for these services.
  • Return and increases in registrations for all our exams, including KAPS, CAOP and IWE.

Despite the uncertainty and ongoing challenges of the pandemic throughout 2021/22, APC remains in a strong financial position due to careful financial management and increasing demand for our services. Our organisation remains committed to advancing and assuring pharmacy education through quality services and collaborations.

Statement of Financial Position as of 30 June 2022

Income

Assessments29%
Examinations47%
Accreditation11%
Grants10%
Investments2%
Other1%

Expenses

Employee Benefits59%
Services and Contracts24%
Supplier Costs8%
Depreciation and Amortisation3%
Other6%

Assets

Cash46%
Debtors1%
Investments42%
Non Current Assets10%
Prepayments1%

Liabilities

Creditors14%
Employee Provisions16%
Lease Liability33%
Contract Liabilities37%

Our Board

We are backed by an incredible Board of Directors. Their dedication to our work assures quality in pharmacy education. They draw experience from pharmacy, education, other health professions, business and the community.

Organisational Chart 

Our Committees

Operational and advisory committees provide expertise and advice:

 

The Australian Pharmacy Council acknowledges Aboriginal peoples and Torres Strait Islander peoples as the Traditional Owners and Custodians of country throughout Australia. We recognise their continuing connection to land, sea, and community. We pay our respects to them and their cultures, and to Elders, past, present and emerging.

© Australian Pharmacy Council 2022

Annual Report by Stream Design
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