VFF losses: 884 members gone in 12 months

The Victorian Farmers Federation’s annual report shows its membership fell by almost 20 per cent in 2022 as its operating loss tripled.

Balancing the VFF’s finances has proven challenging for its president Emma Germano and her board as farmers quit the federation.

The Victorian Farmers Federation lost 884 members in 2022 as its operating loss tripled.

Details released in the VFF’s latest annual report show its membership dropped from 4846 members in 2021 to 3962 by September 30 last year.

The 2022 report, lodged by the VFF with the Australian Securities and Investments Commission on December 29, did not provide any breakdown of the member losses.

But the report did show membership levy revenue, which predominantly comes from United Dairyfarmers of Victoria members, fell from $1.72 million in 2021 to $1.47 million in 2022.

Extracts from VFF annual reports state that on September 30, 2021 it had “4846 current ordinary members” compared to “3962” members on September 30, 2022.

The financials also show the VFF recorded a $927,757 operating deficit in 2022 - three times its 2021 loss.

However, a revaluation of the VFF’s Melbourne headquarters lifted the lobby group out of a financial quagmire.

The annual report states the value of the VFF’s Farrer House property rose 33 per cent in 12 months, from $30.8 million in 2021 to $41.1 million by September 2022, despite a drop in demand for city office space.

By working the $10.3 million revaluation gain into its financials the VFF was able to turn its $927,757 loss into a $7.9 million surplus for 2022.

The VFF’s financials also show:

THE VFF’s legal costs blew out from $124,624 in 2021 to $476,068 in 2022, largely due to the board’s failed bid to oust UDV member Ian Morris, which in July last year the Supreme Court ruled invalid;

ELECTED representatives’ fees and stipends rose from $448,547 in 2021 to $518,758;

CONSULTANTS costs were cut from 916,547 in 2021 to $518,758;

OUTSOURCED services were cut from $200,343 in 2021 to $131,596; and

CONFERENCE expenses were cut from $77,485 in 2021 to $12,931.

VFF president Emma Germano refused to respond to questions on what action the federation was taking to offset the membership losses and spiralling operating deficit.

“It’s important that our members hear directly from us at our upcoming AGM on Monday February 27, 2023,” Ms Germano said.

“We will not be releasing further information until this date and encourage members to engage with us at the AGM.”

Emma Germano was re-elected Victorian Farmers Federation president last month for a second two-year term.