THE Quandamooka Yoolooburrabee Aboriginal Corporation (QYAC) has announced a $6 million profit for the 2024-25 financial year, marking a strong performance across its core operations and its main business arm, Minjerribah Camping.
Despite the positive result, QYAC reported a decline in cash assets, attributed to ongoing workforce cost pressures and several one-off expenses.
An Executive Transitional Team, appointed in February 2025, has since completed a full operational review.
Newly appointed auditors also identified several prior-period transactions that had not been correctly recognised in earlier financial statements.
Chair Cameron Costello said the organisation’s profit reflected strong growth in tourism services and grant-funded programs, along with strengthened financial discipline.
“We’re proud that we’ve achieved a strong profit result given the number of exceptional challenges we’ve faced and addressed over the past year,” Mr Costello said.
“In FY 24-25, QYAC saw expenses far exceed revenue, particularly with an escalation in staff and administration costs.
“There was also a need to spend significant legal and accounting fees to ensure QYAC was being managed appropriately and under the direction of its governing Board. Further one-off expenses were also necessary to carry out independent investigations into workplace conduct and in order for QYAC to manage its WHS obligations across the organisation.”
Tropical Cyclone Alfred also had a major impact on infrastructure and service delivery on Minjerribah, with several camping sites on Main Beach still closed due to dangerous sand erosion.
“Whilst we’re pleased that QYAC is in a robust financial position, implementing recommendations of the strategic review remains a priority under the leadership of our new CEO Fiona Cornforth and COO Joanne Gonsalves,” Mr Costello said.
“It will include strategies focused on improved financial planning, better managing our cost base, streamlining operational processes and reducing overheads; avoiding duplication in shared services across QYAC and Minjerribah Camping; strengthening financial reporting and transparency; and prioritising revenue-generating activities in tourism and other services.”
Minjerribah Camping has approved its operational plan and budget for 2025-26, including capital works upgrades to ageing infrastructure.
QYAC and Minjerribah Camping have also secured Queensland Government funding for a new amenities block at Adams Beach.
Incoming QYAC CEO Fiona Cornforth said she was encouraged by the additional grant and partnership opportunities available to strengthen business operations and drive economic activity on Minjerribah.
“I have met many dedicated staff members who care deeply about the organisation’s continued success and being able to rely on business systems and functionality that best supports that success is critical,” she said.
