2019-03-12 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                     12 MARCH 2019


1.     FINANCE

The J financial performance as at 31 December 2018



     Statement of Income and         2018/19        2018/19
            Expenses                 Current         YTD             2018/19        %         YTD
                                     Budget         Budget             YTD        Current   Variance
                                                                     Actuals      Budget
Total Revenue                           674,246        384,015          342,709    50.8%        (41,306)
Total Expenditure                     1,400,148        710,703          692,836    49.5%          17,868
Operating Result                      (725,902)      (326,688)        (350,127)                 (23,439)


Expenditure Summary
Employee Benefits                       488,994        244,907         248,386     50.8%         (3,479)
Materials & Services                    398,907        209,401         188,196     47.2%         21,205
Finance Costs                                 0              0             (88)   100.0%              88
Other Expenses                            1,060            530             530     50.0%               0
Depreciation & Amortization             251,223        125,611         125,611     50.0%               0
Internal Charges                        259,964        130,254         130,201     50.1%              53
Competitive Neutrality                        0              0                0     0.0%               0
Total Expenditure                     1,400,148        710,703         692,836                   17,868




                               The J Community Centre
 800,000

 600,000

 400,000

 200,000

         0
                    Total Revenue              Total Expenditure             Operating Result
(200,000)

(400,000)

(600,000)

                                    2018/19                        2018/19
                                    YTD                            YTD
                                    Budget                         Actuals


The J is $41,306 behind its half-yearly revenue budget, however has achieved just over 50% of
its annual revenue budget in the first half of the year. This result is indicative of budget profiling
which was too heavily skewed towards the first 6 months of the year and learnings from this have
been applied to the 2019/20 budget.

Venue hire finished $5,821 above budget, while bar and kiosk sales were down $13,259, due
mainly to a reduction in the number of events with strong associated bar sales. Anecdotal
evidence across the Community Facilities branch also points towards customers being a little
tighter with their discretionary spend over the past 6 months than in the year prior.


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