Anthony Maney, Mount Gambier
ON the Have your say page of The Border Watch (Wednesday, September 18, 2019) my concerns about the registered charity, Lock the Gate Alliance Limited (LTG) were printed.
In particular I was concerned about a blowout (over a number of years) in employee benefits expense to revenue ratio.
FYE 30/6/2016 its ratio was an okay 24pc.
FYE 30/6/17 ratio increased to about 31pc.
FYE 30/6/18 ratio blew out massively to 52pc and a loss of about $290,000 was reported.
For FYE ending 30/6/19 the ratio again increased to nearly 55pc and another loss of more than $200,000 has been reported.
If Lock the Gate’s employee benefits expense to revenue ratio continues to increase and significant losses continue to be racked up, how long before it will suffer the same fate as White Ribbon Australia which was placed into liquidation last October?
ANTHONY MANEY, MOUNT GAMBIER