2016-12-12 General Committee - Attachment 1 to Item 9 - NBRF Annual Report

QUARTERLY REPORT TO COUNCIL – Q1 FY 2017




   Note 1: Surplus from Grant Funding
   As at June 30 2016, further commitments of approximately $470,000 had been made by the
   Foundation to be paid over a number of years to various institutions for execution of our
   programs. In essence, the $80,000 sustainability grant has not been committed.

   Note 2: Surplus from Operations – approximately $100,000.
   The Foundation commenced operations July 2015; on ground activities in connection with
   programs were delayed through a variety of reasons until early Q3 FY 2016. The appointed
   Executive Officer did not resume duties in Quarters 3 and 4; accordingly, operations were
   well below forecast.

   Note 3: Total Surplus 30 June 2016
   Surplus shown in these statements of approximately $654,000 is comparable to cash
   balances 30 June 2016 of approximately $660,000.

   Note 4: Accounting for Grant Funding
   Financial statements presented to the auditor recognise grants as revenue only when funds
   are dispersed to recipient programs.


   6. UNESCO
   Next year will be our 10th anniversary since enrolling in the UNESCO MaB (Man and
   Biosphere) Program. We will develop a plan to re-engage with UNESCO for a reapplication
   next year.

   Board member David Dique has volunteered some time to be applied to this endeavour.
   Professor Karin Hussey at the GCI is well connected with UNESCO personnel and has
   agreed to assist.

   It is generally seen we should leverage this connection more appropriately.


   7. Governance
   The Board held a General Meeting on July 15 and confirmed new Board membership as:

      •   David Dique
      •   Dick Barnes
      •   Michael Gloster

   Adding to appointments in the prior period:

      •   Campbell Corfe
      •   Clare Cartwright
      •   Tony Wellington

   It is expected that Mr. Rowland Hill will agree to a continuing role with the Board and this
   will be confirmed at the AGM to be held December 2016.

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