The Australian economy, like the rest of the world, has suffered major disruption, as a result, of the COVID-19 shock.
The Federal and State governments responses have been swift and a series of assistance and economic stimulus packages have assisted in restoring some measures of confidence.
In general, the WA economy has so far proven to be more resilient than the other States and Territories. The implementation of lockdowns, social distancing and other pandemic mitigating measures have resulted in a shutdown of almost all of the Property Education Foundation’s activities.
Prior to the pandemic disruption, the Foundation organized 26 internships and awarded one new scholarship. Other activities, including our major fund-raising event, the annual yachting regatta, were postponed and school career expositions cancelled.
Governance: The PEF Board held 1 meeting during the year and the Management Sub-Committee held 1 meeting. All other scheduled meetings were postponed due to the pandemic.
Despite a fall in our reserves due to the performance of the Australian and Global markets, I am pleased to advise the Foundation remains in a solid financial position with funds invested standing at $862K as on 30th September 2020.
In a year of unprecedented disruption, I wish to thank the continued support of our honorary Treasurer Lee Pinkerton, and Rowena Ong who continues to manage our secretariat.
On a positive note, we have already returned to some normality with two successful Meet the Leaders events at Curtin University & UWA held this October, thanks to all participating Board members.
I look forward to the next twelve months as we continue to advance the Foundation’s activities.
Joe Lenzo
Chairman
