The Australian Red Cross says it is on target for a balanced budget and promises no more redundancies despite its humanitarian services division leaking more than $30 million over the past two years.
The charity underwent a national restructure last year to find $8.6 million in savings that included making 14 staff across Queensland redundant.
The restructure came after its humanitarian services lost $13.4 million in 2017/2018 which was followed by a $21 million loss last year.
The losses were partially offset by its blood services division which made a profit of around $10 million during the same period, according to its financial reports.
ARC CEO Judy Slatyer said last year's overall loss of $19.1 million, while well above average, was expected and has no bearing on their ability to deliver humanitarian services.
"Our funding and revenue vary, and can be received in one year then spent in other years, as many programs run over multiple years," Ms Slatyer said.
"This year for example, whilst our operating budget is forecast to break even, our funding tied to contracts and other commitments is expected to result in a surplus as more funds are being received this year that will then require delivery of our work over the next couple of years."
She said the Red Cross had almost achieved its savings target and of the 60 staff made redundant over the past year, they were "a mix of contracts ending and other changes."
"There are no further redundancies planned for this financial year, bearing in mind that at any one time there are multiple projects that start, end and people leave the organisation," she said.
Among its myriad of his charitable duties, the ARC is in midst of distributing more than a $1 million per day, out of a $115 million fund, to bushfire victims.
ARC's Queensland director Garry Page said the bushfire relief fund was separate from its day-to-day operations and there would be an exemplary level of transparency on how the monies distributed.
He said that while the ARC had forecast about 10 cents in every dollar would be soaked up in administering the bushfire relief fund, it was more likely to be significantly lower.
"That's (bushfire relief fund) kept completely in a separate account and will be independently audited," he said.
"We forecast spending up to 10 cents in the dollar but we will reduce it as low as we can. In previous disasters its been as low as four cents in the dollar."
Australian Associated Press