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Lifetime Support Authority of South Australia (LSA)

Financial statistics
Provision for future costs of current participants: $203 million
Lifetime Support Scheme Fund levy net of duty: $131 million
   
Investments: $293 million
Net assets: $90 million
   
Number of FTEs: 18.1
   
Number of interim participants as at 30 June: 66
Number of lifetime participants as at 30 June: 10

Significant events and transactions
  • The provision for the future cost of caring for current participants more than doubled, increasing by $110 million to $203 million.
  • The total number of participants increasing from 39 in 2014-15 to 76 in 2015-16.
  • The LSA made an operating surplus of $15 million and has net assets, meaning the Lifetime Support Scheme remains fully funded at 30 June 2016.

Financial statement opinion
Unmodified

An emphasis of matter was included in the financial report opinion relating to significant inherent uncertainty surrounding the estimate of the provision for participants' treatment, care and support services because of the long-term nature of the provision and limited participants’ experience to date.