Financial Reporting

Outback Stores meets quarterly with store owners to discuss each stores’ financial performance and regularly reports on store operations.

Some communities choose to have this reporting presented via The Money Story, a presentation aid for communicating business concepts, which reproduces the core ideas in standard financial reports. Using graphics and plain language, The Money Story translates complicated financial information into an adaptable, straight forward story. This optional communication format helps overcome language barriers and different standards of numeracy and literacy, while aiming to help Indigenous communities with their decision-making process.

The first Money Story was presented in the Mimili community in Central Australia in 1985 and the program has gone on to be tried and tested with Indigenous people over many years. It has been so successful that Little Fish (the company that now runs Money Story programs) was the first Northern Territory business to win at national level in the Telstra/Australian Government Business Awards.  The Money Story format used by Outback Stores continues to evolve in line with the stores it manages and in consultation with the store owners.

The quarterly face-to-face delivery of the store financial results to store owners allows for a two-way process of feedback. In the case of Outback Stores, The Money Story helps the store committee understand how the store is performing, the financial process in relation to the management agreement, how loans work and how money made can be distributed. This allows store owners to discuss issues in relation to the store with the store management (if they choose), brainstorm community based initiatives and make informed decisions.

For further information go to http://www.littlefish.com.au/.html