2021-03-09 Services & Organisation Committee Meeting Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                                                     9 MARCH 2021


Half-yearly performance shows a net favourable result of $107,374 against budget, entirely because
of expenditure savings totalling $108,207.

The J’s operations were heavily constrained by COVID-19 restrictions for a majority of the period
and as such revenue was down approximately $270k (72%) when compared to the same period the
year prior. With the exception of lease revenue from onsite partners, all revenue streams were
adversely impacted. The amended budget reflected this expectation and the period’s actuals came
within $1,000 of budget target.

Expenditure was under budget by $108k, with employee costs under by $52k and materials and
services under by $50k. Labour savings were achieved with staff deployed to other Departments
during the protracted closure and less requirement for casual event related staff in general. Materials
and services also saw savings with far fewer events running at the centre, including in the areas of
beverage cost of goods sold (COGS), contract services, performance fees and building
maintenance.

The below comparison of the past four years’ half-yearly financial performance data reveals the
widespread reductions in revenue and clearly demonstrates the savings in key expenditure areas.

                                           Historical financial performance - The J
                                                          2017/18 YTD          2018/19 YTD          2019/20 YTD          2020/21 YTD
Revenue                                            actuals as at 31 Dec actuals as at 31 Dec actuals as at 31 Dec actuals as at 31 Dec
40025 - Misc Fees - Venue Catering                              (127.27)                 0.00                 0.00             (109.09)
40032 - Other - Sales - Equipment Hire                       (28,262.25)          (26,658.15)          (35,611.37)           (4,065.45)
40034 - Lease Revenue                                        (41,412.50)          (48,872.50)          (42,886.04)          (43,615.10)
41103 - Other - Sales - Bar & Kiosk Sales                    (70,968.00)          (63,864.34)          (68,076.31)          (11,774.10)
41154 - Venue Hire                                           (95,977.94)         (103,525.18)         (110,259.46)          (24,872.53)
42000 - Other - Commission Received                          (35,158.60)          (34,296.84)          (33,559.59)           (4,885.46)
42017 - Other - Sales - Tickets                              (10,114.12)           (5,530.26)           (1,246.39)           (1,180.90)
42032 - Other - Sundry Recoupment                             (7,414.76)           (4,187.62)           (9,807.85)           (6,853.38)
42043 - Other - Misc - Photocopying and Printing              (1,322.52)           (1,204.41)           (2,789.07)             (110.87)
42044 - Other - Misc - Employee Cost Recoveries              (64,591.12)          (52,695.17)          (66,000.91)           (8,207.27)
42046 - Other - Misc - Telephone Transaction Fee                (731.76)             (524.43)             (632.83)             (142.42)
42050 - Marketing Recoupment/Recovery                         (2,394.12)           (1,350.00)           (5,935.88)                 0.00
                                                             (358,475)            (342,709)             (376,806)            (105,817)


Controllable expenses
6EX01 - Employee Benefits                                    229,413.23           248,385.93           258,509.14            180,349.26
6EX03 - Materials & Services                                 203,186.87           188,196.33           165,860.74            104,010.50
6EX06 - Other Expenses                                           512.10               530.00               541.90                551.60
                                                               433,112              437,112              424,912              284,911

Net operating result                                           -74,637              -94,403              -48,106             -179,095


Uncontrollable expenses
6EX04 - Depreciation & Amortization                          119,362.56           125,611.26           133,347.54            133,592.58
6EX12 - Internal Charges                                     150,014.66           130,200.60           139,265.50            131,651.15
                                                               269,377              255,812              272,613              265,244

Total operating result                                       -344,014              -350,215             -320,719             -444,339




                                                                                                                      Page 24 of 48