2020-09-08 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                              8 SEPTEMBER 2020


The J interim financial performance as at 30 June 2020


     Statement of Income and          2019-20       2019-20
            Expenses                  Current        YTD         2019-20        %         YTD
                                      Budget        Budget         YTD        Current   Variance
                                                                 Actuals      Budget
 Total Revenue                          682,687       682,687       511,210    74.9%    (171,477)
 Total Expenditure                    1,435,048     1,435,048    1,320,602     92.0%      114,446
 Net Result - Surplus/(Deficit)       (752,361)     (752,361)     (809,393)              (57,032)


 Total Revenue                          682,687      682,687       511,210     74.9%    (171,477)
 Direct Costs (Controllable)
   Employee Benefits                    505,275      505,275       465,299     92.1%       39,976
   Finance Costs                              0            0           (26)   100.0%           26
   Materials & Services                 386,229      386,229       309,742     80.2%       76,487
   Other Expenses                         1,087        1,087         1,084     99.7%            3
 Subtotal Direct Costs                  892,591      892,591       776,099     86.9%      116,492
 (Controllable)
 Operating Surplus/Deficit            (209,904)     (209,904)     (264,889)              (54,986)
 Indirect Costs (Corporate)
   Depreciation & Amortization          266,695      266,695       266,695    100.0%             0
   Internal Charges                     275,762      275,762       277,808    100.7%       (2,046)
 Subtotal Indirect Costs                542,457      542,457       544,503    100.4%       (2,046)
 (Corporate)
 Net Result - Surplus/(Deficit)       (752,361)     (752,361)     (809,393)              (57,032)

*Please note figures are interim financial results only as final figures were not available at the
time of compiling this report.




The J’s financial result was considerably impacted by the COVID-19 shutdown from 23 March
onwards. From this point forward the centre lost all ability to generate revenue and was also
required to issue a number of refunds to customers and hirers for cancelled bookings.


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