RACGP to break even next financial year after $6 million deficit, says CEO
Paul Wappett says the college was braced for significantly worse financial results.
The RACGP has logged a $5.7 million deficit for the 2022/23 financial year, but CEO Paul Wappett says the result shows it is on the right track.
The college’s annual report, published last week, lays out some of the financial struggles that led to 50 job losses earlier this year — almost 8% of RACGP staff.
Mr Wappett said the hundreds of millions of taxpayer dollars given to the RACGP to take back GP training, plus JobKeeper grants, had masked underlying financial concerns in the 2021/22 annual report, which showed a smaller deficit of $1.6 million.
He said the RACGP had braced for a $10 million deficit for 2022/23, however, the job cuts and an overhaul of membership fee categories shielded some of the damage.
