2019-03-12 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                        12 MARCH 2019


NAC financial performance for the period ending 31 December 2018

                                     2018/19         2018/19
   Statement of Income and           Current          YTD              2018/19         %           YTD
          Expenses                   Budget          Budget              YTD         Current     Variance
                                                                       Actuals       Budget
Total Revenue                         1,831,399         942,514           941,733     51.4%             (781)
Total Expenditure                     2,760,329       1,398,729         1,379,128     50.0%            19,600
Operating Result                      (928,930)       (456,215)         (437,395)                      18,819


Expenditure Summary
Employee Benefits                     1,232,745         616,604          621,084      50.4%            (4,480)
Materials & Services                    737,104         386,884          362,926      49.2%            23,958
Finance Costs                                 0               0            (292)     100.0%                292
Other Expenses                            1,060             530              530      50.0%                  0
Depreciation & Amortization             205,622         102,811          102,811      50.0%                  0
Internal Charges                        583,799         291,899          292,069      50.0%              (169)
Competitive Neutrality                        0               0                0       0.0%                  0
Total Expenditure                     2,760,329       1,398,729        1,379,128                       19,600




                                Noosa Aquatic Centre
 1,500,000

 1,000,000

   500,000

          0
                     Total Revenue                Total Expenditure                 Operating Result
  (500,000)

(1,000,000)

                                     2018/19                          2018/19
                                     YTD                              YTD
                                     Budget                           Actuals


The NAC has experienced several consecutive years of strong revenue growth, as can be seen
in the historical half-yearly results table below. This growth has now plateaued, with half-yearly
revenue finishing the period less than $1k behind budget. Minor YTD expenditure savings led to
the centre producing a net half-yearly result $18,819 ahead of budget.

General admissions, retail and learn-to-swim program revenue tracked slightly behind budget,
with stronger performances in squad, group fitness and gym revenue offsetting this. The squad,
group fitness and gym revenue lines continue to benefit from a growing member base, which sat
at 554 on 31 December 2018, up 105 members (23% growth) on the previous year.




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