Residential care providers would be required to publicly report on their finances under a new bill introduced by South Australian MP Rebekha Sharkie (pictured above) this Monday.
The Aged Care Legislation Amendment (Financial Transparency) Bill 2020, would require providers to submit annual reports on their income, costs of food and medication, staff and staff training, accommodation, administration and monies paid to parent bodies in annual financial transparency reports to the Aged Care Quality and Safety Commissioner.
This information would then be made available to the public.
The Federal Member for Mayo is also seeking amendments to the Corporations Act 2001, that would require providers submit detailed financials in their annual statements.
Ms Sharkie says the bill is about giving Government and the public a better understanding as to how the facilities are being resourced.
“There is no public information on the way providers use taxpayers’ funds and individuals’ contributions to deliver aged care services,” she told Parliament.
“Currently, there is no clear way to know how much a provider is spending on the provision of care. It is permissible for providers to spend their taxpayer subsidies pretty much as they choose. In an environment where our elderly are being subjected to systemic neglect, this cannot continue.”
Will it get the green light however? Ms Sharkie’s colleague Centre Alliance Senator Griff Stirling moved a similar motion last year for financial transparency from providers but it was blocked when One Nation joined with the Government to oppose it.
