Vision Australia is the leading national provider of blindness and low vision services in Australia. https://t.co/jKaeVjMsAz or call 1300 84 74 66 Vision Australia is a national provider of blindness and low vision services. We support people who are blind or have low vision of all ages and circumstances to live the life they choose. During the financial year Vision Australia Limited continued to fulfil its mission of supporting people who are blind or have low vision to live the life they choose, with a particular focus on supporting our clients in a difficult and highly changeable COVID19 environment. The deficit for the 2022 financial year has been calculated in accordance with Australian Accounting Standards (AASBs). The Group has changed its accounting policy to implement the International Financial Reporting Standards Interpretations Committee (IFRIC) final agenda decision on SoftwareasaService (SaaS) arrangements in its 2022 financial statements. The change has been applied retrospectively resulting in the restatement of the comparative information. Changes to significant accounting policies and the impact of applying the new standards are described in note 6.6 of the consolidated financial statements. Consolidated activities during the 2022 financial year returned a reported deficit of $2,025,000 (restated 2021: surplus of $3,246,000), which after adjusting for nonrecurring items, provided an adjusted recurring deficit of $2,487,000 (restated 2021: deficit of $8,019,000) refer note 6.3 below. The underlying deficit reflects lower service and fundraising income due to continued impact of COVID19 and lower bequests due to natural variability, partially offset by higher investment income, the gain from change in fair value of non equity investments, vacancies and cost constraint. The reported deficit of $2,025,000 (restated 2021: surplus of $3,246,000) includes oneoff operating items of $513,000 which is JobSaver funding received as a direct result of reduction in income from COVID19 offset by amounts accrued for entitlements as a result of external review. The prior year result includes JobKeeper funding received of $10,102,000 and reversal of prior year property impairments of $1,338,000. The reported surplus does not include growth or decline in equity assets. The net assets of the Vision Australia consolidated entity decreased by $18,317,000 year on year, which comprise the current year deficit of $2,025,000, realised gain on equity investments of $3,629,000 and decrease in fair value of equity investments (or unrealised loss on equity investments) of $19,921,000.