The difference between aged care and retirement living is stark when looking at the finances of Kiama Municipal Council’s Blue Haven operation on the NSW South Coast.
At Tuesday’s Council meeting, it was revealed that the residential aged care home in July received income of $714,534 – but outlaid $1.3 million, including $800,000 in employee wages and $330,000 in materials and services.
That’s a loss of $660,027 in 31 days for running 132 beds in eight purpose-built care houses (17 were empty).
Blue Haven also has its Bonaira Village, which comprises 59 independent living units and, over the same period, had a net surplus of $365,000.
Kiama Council had previously included its aged care home and retirement village in its general financial reporting; they are now separate.
