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
| Assessments | $ | 1,796,870 |
| Examinations | $ | 2,929,705 |
| Accreditation | $ | 684,722 |
| Grants | $ | 629,570 |
| Investments | $ | 92,123 |
| Other | $ | 43,470 |
| $ | 6,176,460 |
Expenses
| Employee Benefits | $ | 3,004,411 |
| Services and Contracts | $ | 1,220,459 |
| Supplier Costs | $ | 384,507 |
| Depreciation and Amortisation | $ | 136,482 |
| Other | $ | 304,187 |
| $ | 5,050,046 |
Assets
| Cash | $ | 4,500,276 |
| Debtors | $ | 111,520 |
| Investments | $ | 4,153,326 |
| Non Current Assets | $ | 935,823 |
| Prepayments | $ | 117,311 |
| $ | 9,818,256 |
Liabilities
| Creditors | $ | 418,890 |
| Employee provisions | $ | 458,583 |
| Lease liability | $ | 970,800 |
| Contract liabilities | $ | 1,105,800 |
| $ | 2,954,073 |
| Surplus | $ | 1,126,414 |
| Equity | $ | 5,737,769 |
Income
Expenses
Assets
Liabilities
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:
- Finance, Audit and Risk Monitoring Committee – watches and manages compliance risk
- Accreditation Committee – decides on accreditation and consults on examination issues
- Examinations Committee – keeps our exams relevant and fair
- Indigenous Health Strategy Group – provides advice on how to best contribute to improving Indigenous health