2016-03-01 Infrastructure and Services Committee Agenda

INFRASTRUCTURE & SERVICES COMMITTEE MEETING AGENDA                                                 1 MARCH 2016


The J Year To Date Financial performance as at 31 January 2016

                                    2015/16       2015/16       2015/16          2015/16          %
    Statement of Income and
                                    Current      Forecast        YTD               YTD          Current     YTD
           Expenses
                                    Budget        Budget        Budget           Actuals        Budget    Variance

Total Revenue                          466,625        466,625          294,738        298,433     64.0%        3,695
Total Expenditure                    1,200,171      1,200,171          691,781        663,256     55.3%       28,526
Operating Surplus / (Deficit)        (733,546)      (733,546)        (397,044)      (364,823)                 32,221


Expenditure Summary
Employee Benefits                      363,435        363,435         213,780        231,942      63.8%      (18,162)
Materials & Services                   365,732        365,732         203,505        154,691      42.3%        48,814
Other Expenses                             930            930             810            150      16.1%           660
Depreciation & Amortization            274,511        274,511         160,131        160,131      58.3%             0
Internal Charges                       195,563        195,563         113,556        116,342      59.5%       (2,786)
Competitive Neutrality                       0              0               0              0       0.0%             0
Total                                1,200,171      1,200,171         691,781        663,256                   28,526



                                The J Community Centre
 800,000

 600,000

 400,000

 200,000

        0
                    Total Revenue                Total Expenditure           Operating Surplus / (Deficit)
(200,000)

(400,000)

(600,000)

                                    2015/16                           2015/16
                                    YTD                               YTD
                                    Budget                            Actuals

As a whole, The J’s YTD financial performance is ahead of budget with a net favourable variance
of $28,526.
Overall revenue performed solidly and is marginally ahead of budget by $3,695. Expenditure sits
at $28,515 below budget with savings of $27,982 seen in Building & Facilities maintenance and
$10,940 of savings in Performance & Presenter fees. There are a number of large maintenance
items planned in comings months which will see a levelling out against budget, although some
level of savings is likely to occur. Performer & Presenter fees will align with budget once
payments to entrepreneurial acts are made later in the year.
Employee Benefits were $18,162 overspent; which represents another $3000 on top of the
overspend of $15,338 as at 31 September 2015. A majority of this overspend is associated with
the high number of events at the centre in the first quarter and the associated casual labour
required to deliver them - in hindsight the budget seems to have been too tight. It was hoped that
Employee Benefits would return to be in line with budget as the year progressed however this
has not yet eventuated. It therefore looks likely that the overspend will remain in place for the
remainder of the year.

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