2022-11-08 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING REPORT                                 8 NOVEMBER 2022


NAC interim financial performance as at end of financial year 30 June 2022

                                          2021-22
 Statement of Income and Expenses         Current                         %
                                          Budget          2021-22         Current   Variance
                                                          Actuals         Budget
 Total Revenue                               1,782,840       1,939,799     108.8%        156,959
 Total Expenditure                           3,133,226       3,089,140      98.6%         44,086
 Net Result - Surplus/(Deficit)             (1,350,386)     (1,149,341)                  201,046


 Total Revenue                               1,782,840       1,939,799    108.8%         156,959
 Direct Costs (Controllable)
   Employee Benefits                         1,441,938       1,386,854     96.2%           55,084
   Finance Costs                                     0             (84)   100.0%               84
   Materials & Services                        796,669         772,838     97.0%           23,832
   Other Expenses                                1,114           1,122    100.7%               (8)
 Subtotal Direct Costs (Controllable)        2,239,721       2,160,729     96.5%           78,992
 Operating Surplus/Deficit                   (456,881)       (220,930)                     77,968
 Indirect Costs (Corporate)
   Depreciation & Amortization                  246,771         281,487   114.1%         (34,716)
   Internal Charges                             646,734         646,924   100.0%            (190)
 Subtotal Indirect Costs (Corporate)            893,505         928,411   103.9%         (34,906)
 Net Result - Surplus/(Deficit)             (1,350,386)     (1,149,341)                  201,046



                                  Noosa Aquatic Centre
 3,500,000
 3,000,000
 2,500,000
 2,000,000
 1,500,000
 1,000,000
   500,000
          0
 (500,000)           Total Revenue               Total Expenditure        Net Result - Surplus/(Deficit)
(1,000,000)
(1,500,000)
(2,000,000)


                                       2021-22            2021-22
                                       Budget…            Actuals


Budget Commentary
End of year performance against budget shows revenue up 9% or $157K, while expenditure was
under budget by approximately 1.5% or $44K. Overall, the centre finished $201K ahead of the net
budgeted position, a strong result given the ongoing impact and uncertainties of the pandemic.


                                                                                        Page 15 of 35