Montefiore: nothing to hide
THE Montefiore Home has responded to ongoing calls for openness and questions regarding its financial management by pledging to make its full accounts available to the public for the first time.
THE Montefiore Home has responded to ongoing calls for openness and questions regarding its financial management by pledging to make its full accounts available to the public for the first time.
Montefiore president David Freeman said his board has nothing to hide and the full accounts will be on the organisation’s website after the upcoming annual general meeting.
“The figures have been crystal clear in the summary accounts published in the annual reports that anyone could find online in the last five years,” Freeman told The AJN.
In recent years, the Montefiore has published annual reports on its website, which includes a written report by the treasurer, profit and loss statements and a summary balance sheet.
It also provides full accounts to the JCA as part of the allocations process, but it has never provided full audited accounts to the public before.
“When you have people saying ‘publish the whole thing,’ then if you don’t, it looks like you are hiding something.
“We have nothing to hide.”
Montefiore chief executive Robert Orie said the decision to provide the full audited accounts is for the benefit of the home’s members.
“The board felt that the size of the organisation justified publishing the full set of accounts,” Orie told The AJN.
“The board is particularly proud of the home’s financial position, especially following what was arguably the largest capital-development program ever undertaken by the Jewish community when it built the Randwick campus.”
JCA president Peter Philippsohn said he encourages a policy of transparency and good governance by its member organisations.
“It is only by openly reporting where communal funds are spent that the community can truly appreciate the great work done by our members,” Philippsohn told The AJN. “We applaud the Montefiore Home embracing this policy and trust that other members will do likewise.”
The announcement regarding the release of the accounts comes eight months after major communal donor Millie Phillips called for the Montefiore board to step down, insisting she could save the home millions of dollars.
Following her claims, several key community leaders contacted The AJN and expressed concern that the full accounts were not available to the public.
JOSHUA LEVI
Robert Orie and David Freeman
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