Shocking report blows the lid on where government funding is being spent
Moderated by Tomas Kauer 
A shocking report is blowing the lid on where government funding, meant for vulnerable Queensland children, is really being spent.
It's costing Queenslanders millions every year and is at the detriment of more than 2300 vulnerable kids across the state.
The damning report from KPMG was commissioned by the Child Safety Inquiry and revealed some providers have been operating without proper oversight or regulation from the government.
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The cost of residential care has exploded from $200 million to $1.1 billion over the past decade.
Without reform that's expected to balloon even further, to $7 billion by 2030.
Some company CEOs were found to be paying themselves excessive salaries, some between $400,000 to $679,000 a year.
In one instance, a top executive took home 21 per cent of the overall revenue, with all the money coming from the government.
Instead of funding vital care for children, the report found one provider spent $340,000 on luxury items including $242,000 on gold, $100,000 on cryptocurrency and two Mercedes Benz cars.
"It's just beggars belief how that can happen," child protection reformist Hetty Johnston told 9News.
"What we want now is action. What we don't want now is just to wait for another set of inquiry, recommendations to come down and then wait for the government to respond."
What's shocking is that 68 per cent of operators are unlicenced and one of those organisations received nearly $34 million in funding last financial year.
These findings will now play a vital role in the final two weeks of the Child Safety Commission of Inquiry , starting on Tuesday.
Recommendations will be handed down on May 22.
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