b'The SDN group ended the financial year with a surplusWe have sustained our level of support for families of $114,990, which was lower than last years result ofand continue to be a trusted advisor. Our largest $148,826. This surplus included an amount of $49,250,government funded contract is for the NSW Brighter which was a revaluation gain following an independentFutures program.valuation of SDN properties and land. Expenditure on our staff remains our largest cost. We Our total revenue decreased from $52.5m in managed expenditure through careful controlling of costs, 201718 to $47m. Overall revenue declined due to theparticularly staff costs in our shared services, and the cost ending of NSW government funding for our childrensof using agency casuals in our centres. Our expenditure therapies, and we now rely completely on fee-for-servicereduced from $52.3m in 201718, to $46.9m, with staff revenue from those services.costs reducing from $40.4m to $35.9m.Fees from families for our early childhood educationThe SDN group maintained a strong financial and care centres continue to be our largest source ofposition with approximately $7.9m in cash equivalents revenue. Our focus remains on maintaining strongand $38.2m in net assets. Net assets increased by $6m utilisation in our centres and increasing our revenue at afollowing an independent valuation of SDNs owned time of increased competition and oversupply. Revenueproperty and land as at 30 June 2019.from our centres remained steady at $33.9m comparedOur profit and loss statement and the statement of with $33.8m in 201718. our financial position are on pages 4445 of this review. You can find our full financial statements in our 201819 Annual Report, which is available on our website at www.sdn.org.au.1,500,000 Revenue Expenditure1,000,00055500,00050045-500,00040-1,000,00035-1,500,00030201415 201516 201617 201718 201819 201415 201516 201617 201718 201819Consolidated surplus over five years Five year consolidated revenue vs expenditure ($m)43'