NZNO records operating loss.
Subject: Medical societies (Finance)
Medical societies (Conferences, meetings and seminars)
Pub Date: 10/01/2010
Publication: Name: Kai Tiaki: Nursing New Zealand Publisher: New Zealand Nurses' Organisation Audience: Trade Format: Magazine/Journal Subject: Health; Health care industry Copyright: COPYRIGHT 2010 New Zealand Nurses' Organisation ISSN: 1173-2032
Issue: Date: Oct, 2010 Source Volume: 16 Source Issue: 9
Topic: Event Code: 250 Financial management Computer Subject: Company financing
Product: Product Code: 8622000 Medical Associations NAICS Code: 81392 Professional Organizations SIC Code: 8621 Professional organizations
Organization: Organization: New Zealand Nurses Organisation; New Zealand Nurses Organisation
Geographic: Geographic Scope: New Zealand Geographic Code: 8NEWZ New Zealand
Accession Number: 241179361
Full Text: NZNO recorded an operating toss of $512,000 for the 2009/2010 financial year, the third year it has run a deficit. Income from subscriptions amounted to $13.3 million plus $1.3 million of other income but total expenses amounted to $15.1 million. Staff costs amounted to $8.4 million, travel and accommodation cost $1.3 million; the costs associated with the board, te poari and regional councils amounted to $328,000, with other costs totalling $4.8 million. These other costs included information technology, communication, offices and Legal and accounting costs.

Subscription income increased by close to one million dollars and there was a savings in travel of $201,000 due to the introduction of videoconferencing. But over expenditure amounted to $1.6 million.

Presenting the annual report and financial report, business services manager Kevin O'Neill said, despite the deficit, NZNO was still in a strong financial position, with reserves of $8.5 million. "But we can't run deficits for even"

O'Neill also presented a breakdown of NZNO membership. Since 2002, membership had grown 49 percent from 30,169 to 45,068. Aged care and primary health care saw the most spectacular growth, both increasing membership by 92 percent: aged care from 2602 members in 2002 to 5007 this year; and primary health care from 2782 to 5328 in the same period. The two regions with the biggest membership growth were Greater Auckland and Greater Wellington, each with a 62 percent increase, followed closely by Bay of Plenty with a 5g percent increase and Top of the South with a 57 percent increase.

The number of Maori members has increased from 1928 in 2002 to 3023 this year, a 57 percent increase; Pacific membership has increased 145 percent from 509 members to 1247 in the same eight years; while the number of members from European countries grew from 1470 to 4217, a 287 percent increase. By far the biggest percentage increase was for nurses from Asia. Their numbers grew from 291 in 2002 to 3956 this year--a 1359 percent increase.

O'Neill pointed out that as well as the number of members increasing, so was the number of years people remained as members: 61 percent had been members for up to ten years; 15 percent for between ten and 15 years, 10 percent between 15 and 20 years and 13 percent had been members for more than 20 years. "We are retaining our members," O'Neill said.
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