Not-for-profit enterprises (NFPs) are often galvanised around delivering on a clear and compelling mission. The biggest obstacle to delivering that mission is often money, leading to non-critical functions being run as leanly as possible.
The Aged Care Royal Commission is currently considering how aged care should be funded. During September 2020, Paul Keating put forward some interesting ideas about the role of the family home in financing aged care, which we think warrant further consideration.
Aged care providers must hold funds in reserve to pay for refunds of accommodation deposits. When residents have paid lump sums to partly or fully fund their accommodation costs, these deposits are refundable when they leave or pass away.
This is amongst the most rewarding work I’ve done. Without it, Barnardos ’ funding structures would not have changed – which has led to lives being positively transformed” – Adrian McGarva, PFS Consulting.
