2021-09-07 Services & Organisation Committee Meeting Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                      7 SEPTEMBER 2021


The J interim financial performance as at 30 June 2021

 Statement of Income and Expenses            2020-21        2020-21       2020-21         %
                                             Original        YTD            YTD         Current        YTD
                                             Budget         Budget        Actuals       Budget       Variance

 Total Revenue                                 362,792       362,792        407,220       112.2%         44,428
 Total Expenditure                            1,272,604     1,272,604     1,249,500        98.2%         23,105
 Net Result - Surplus/(Deficit)               (909,812)     (909,812)     (842,279)                      67,533


 Total Revenue                                 362,792       362,792        407,220       112.2%         44,428
 Direct Costs (Controllable)
   Employee Benefits                           422,707       422,707        431,660       102.1%         (8,952)
   Finance Costs                                        0             0          36       100.0%            (36)
   Materials & Services                        306,739       306,739        284,678        92.8%         22,061
   Other Expenses                                 1,087         1,087         1,103       101.5%            (17)
 Subtotal Direct Costs (Controllable)          730,533       730,533        717,477        98.2%         13,055
 Operating Surplus/Deficit                    (367,741)     (367,741)     (310,257)                      31,373
 Indirect Costs (Corporate)
   Depreciation & Amortization                 267,185       267,185        267,185       100.0%                0
   Internal Charges                            274,887       274,887        264,837        96.3%         10,050
 Subtotal Indirect Costs (Corporate)           542,072       542,072        532,022        98.1%         10,050
 Net Result - Surplus/(Deficit)               (909,812)     (909,812)     (842,279)                      67,533
*Please note figures are interim financial results only as final figures were not available at the time
of compiling this report.


                      The J Community Centre
 1,500,000

 1,000,000

   500,000

          0
                   Total Revenue        Total Expenditure         Net Result -
  (500,000)                                                      Surplus/(Deficit)

(1,000,000)

(1,500,000)

                                   2020-21        2020-21
                                   YTD…           YTD…


The J’s financial result was considerably impacted by ongoing Covid-19 operating restrictions which
effectively rendered the venue inoperable for the first half of the year. The centre largely lost all ability
to generate revenue throughout this period and was also required to issue a number of refunds to
customers and hirers for cancelled bookings. The second half of the year resembled something
closer to a normal operating period and was at times very busy as rescheduled performances were
slotted in amongst pre-existing bookings. A real highlight during this time was selling out five Kitty
Flanagan performances!
                                                                                             Page 45 of 55