At the end of each financial year, sites are required to submit their Annual Financial report. This report may show that a site has incurred a surplus as a result of not using the entire HIPPY Funding Payment and any other payment provided to the site.
If a surplus has been created, HIPPY Australia will review the site's financial and operational performance and may determine that the site can retain their surplus.
In some cases, a surplus proposal may be required in order for the site to retain their surplus. This is typically only required with larger surpluses.
If a site has been permitted to retain their surplus and a surplus proposal was required, the site can use their surplus in accordance with the surplus proposal.
If no surplus proposal was required, the site may use the surplus in the same way that they use their regular HIPPY Funding Payment.
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