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2019-08-06 Services & Organisation Committee Agenda
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SERVICES & ORGANISATION COMMITTEE MEETING AGENDA 6 AUGUST 2019
The Hub’s Co-Lab space hosts an exciting program of events and activities. It features a creative
studio and makerspace, presentation space with grandstand and a modular classroom for
mentoring and skills development. An on-site barista and reception service (Barception) operates
from the Hub’s canteen.
The Hub vision and purpose has evolved throughout the 1st year of operation and can currently
be expressed in the following terms:
“The Hub vision is to help make Noosa the best community on earth for people who want to work
in the digital economy, play by the ocean and raise a family.
Our mission is to foster a digital ecosystem which attracts entrepreneurs, talent and clientele
from around the world and provides meaningful employment for thousands of residents.
We will achieve this by attracting, supporting and developing the talent that make this possible”
1. FINANCE
The viability of the Hub is tightly coupled to the health of Noosa’s emerging digital ecosystem.
Without a strong base of technology entrepreneurs and digital businesses, there will be
insufficient demand to sustain the Hub’s facilities and services.
The objective of the Hub is therefore to operate a commercially sustainable digital co-work facility
whilst delivering public service outcomes that develop the digital ecosystem and assist to meet
the objectives of Council’s Local Economic Plan.
Table 1: Digital Hub financial performance for the Financial Year ending 30 June 2019 (Interim
Figures)
2018/19 2018/19 2018/19 %
Statement of Income and
Current YTD YTD Current YTD
Expenses
Budget Budget Actuals Budget Variance
Total Revenue 150,000 150,000 196,569 131.0% 46,569
Total Expenditure 322,763 322,763 299,260 92.7% 23,503
Net Result - Suplus/(Deficit) (172,763) (172,763) (102,691) 70,073
Total Revenue 150,000 150,000 196,569 131.0% 46,569
Direct Costs (Controllable) 240,607 240,607 234,466 97.4% 6,141
Operating Surplus/(Deficit) (90,607) (90,607) (37,897) 40,429
Indirect Costs (Corporate)
Depreciation & Amortization 82,013 82,013 63,793 77.8% 18,219
Internal Charges 144 144 1,000 694.4% (856)
Subtotal Indirect Costs (Corporate) 82,157 82,157 64,793 78.9% 17,363
Net Result - Suplus/(Deficit) (172,763) (172,763) (102,690) 70,073
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