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Queenslanders are seeing a hefty price tag attached to the care of vulnerable children, with the bill climbing to millions annually. The troubling details were unveiled in a report by KPMG, commissioned by the Child Safety Inquiry, which highlighted the lack of proper oversight and regulation among some care providers in the state.
Over the past ten years, expenditure on residential care has surged from $200 million to a staggering $1.1 billion. Without significant reforms, projections indicate this figure could skyrocket to an alarming $7 billion by 2030.
Adding to the concern, it has been discovered that certain CEOs of these care organizations are drawing exorbitant salaries, ranging from $400,000 to $679,000 annually. This revelation underscores the urgent need for regulatory reform to ensure that funds are directed towards improving the welfare of the over 2,300 vulnerable children relying on these services in Queensland.
Without reform that’s expected to balloon even further, to $7 billion by 2030.
Some company CEOs were found to be paying themselves excessive salaries, some between $400,000 to $679,000 a year.
In one instance, a top executive took home 21 per cent of the overall revenue, with all the money coming from the government.
Instead of funding vital care for children, the report found one provider spent $340,000 on luxury items including $242,000 on gold, $100,000 on cryptocurrency and two Mercedes Benz cars.
“It’s just beggars belief how that can happen,” child protection reformist Hetty Johnston told 9News.
“What we want now is action. What we don’t want now is just to wait for another set of inquiry, recommendations to come down and then wait for the government to respond.”
What’s shocking is that 68 per cent of operators are unlicenced and one of those organisations received nearly $34 million in funding last financial year.
These findings will now play a vital role in the final two weeks of the Child Safety Commission of Inquiry , starting on Tuesday.
Recommendations will be handed down on May 22.
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