2019-08-06 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                    6 AUGUST 2019


NAC interim financial performance as at 30 June 2019


    Statement of Income and          2018/19        2018/19
           Expenses                  Current         YTD           2018/19        %          YTD
                                     Budget         Budget           YTD        Current    Variance
                                                                   Actuals      Budget
 Total Revenue                       1,831,399      1,831,399      1,826,002     99.7%        (5,397)
 Total Expenditure                   2,760,329      2,760,329      2,769,916    100.3%        (9,587)
 Operating Result                    (928,930)      (928,930)       (943,914)                (14,984)

 Expenditure Summary
 Employee Benefits                   1,232,745      1,232,745      1,214,416     98.5%         18,329
 Materials & Services                  737,104        737,104        738,792    100.2%        (1,688)
 Finance Costs                               0              0          (118)    100.0%            118
 Other Expenses                          1,060          1,060          1,060    100.0%              0
 Depreciation & Amortization           205,622        205,622        231,689    112.7%       (26,067)
 Internal Charges                      583,799        583,799        584,076    100.0%          (277)
 Competitive Neutrality                      0              0              0      0.0%              0
 Total Expenditure                   2,760,329      2,760,329      2,769,916                  (9,587)

*Please note figures are interim financial results only as final figures were not available at the
time of compiling this report.




Somewhat predictably, the NAC pulled back a little from 2017/18’s remarkable financial result.
Revenue performance was still very strong and came within $6k of budget, a particularly good
effort given the centre was closed for the final week of financial year for maintenance purposes.
As the 8-week programmed closure drew nearer there was an evident drop-off in attendance and
renewals of visit passes and memberships, a factor that negatively impacted the NAC’s financial
performance.

Uncontrollable depreciation charges finished the year $26k above budget and pushed the centre
to report a $15k net negative variance to total budget.

                                                                                    Page 110 of 170