2020-09-08 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                          8 SEPTEMBER 2020


By end of year, revenue was behind budget by $171k, while expenditure savings totalled $114k.
Overall the net financial performance of the centre was $57k behind budget expectations for the
year.

The J had been tracking strongly prior to COVID, with revenue $30k ahead of YTD budget and
expenditure under budget by $34k as at the end of February. However, as March arrived and
bookings were cancelled and refunded, financial performance quickly deteriorated.

The comparison of the past five years’ financial performance below reveals a trend of strong
revenue growth through to the point where it was halted in 2019/20. Despite the impact of COVID
it is pleasing that the net operating result in 2019/20 is comparable to that of 2015/16 and
2016/17.

The J historical financial performance – 2015/16 to 2019/20

                                                     2015/16      2016/17      2017/18       2018/19      2019/20
Revenue                                              actuals      actuals      actuals       actuals      actuals
40025 - Misc Fees - Venue Catering                    (1,584)      (2,240)        (127)             0            0
40032 - Other - Sales - Equipment Hire              (42,446)     (42,323)     (55,644)      (54,931)     (47,758)
40034 - Lease Revenue                               (77,640)     (81,372)     (88,825)      (91,759)     (84,976)
41103 - Other - Sales - Bar & Kiosk Sales           (84,702)    (120,015)    (141,696)     (125,955)     (81,394)
41154 - Venue Hire                                 (151,659)    (164,521)    (187,961)     (192,983)    (143,570)
42000 - Other - Commission Received                 (32,174)     (46,122)     (60,278)      (55,173)     (38,467)
42017 - Other - Sales - Tickets                     (51,350)     (27,749)     (26,684)      (21,956)       (7,116)
42032 - Other - Sundry Recoupment                     (3,440)      (4,822)    (12,359)        (9,598)    (10,802)
42043 - Other - Misc - Photocopying and Printing      (1,859)      (4,050)      (3,781)       (4,521)      (3,113)
42044 - Other - Misc - Employee Cost Recoveries     (70,777)     (73,944)    (123,677)     (110,170)     (84,817)
42046 - Other - Misc - Telephone Transaction Fee        (923)      (1,413)      (1,364)       (1,207)        (757)
42050 - Marketing Recoupment/Recovery                       0      (2,603)      (5,666)       (4,690)      (8,440)
49029 - Internal Recoveries - Venue Hire                (265)      (1,485)            0             0            0
                                                   (518,819)    (572,658)    (708,062)     (672,942)    (511,210)


Controllable expenses
6EX01 - Employee Benefits                           401,987      435,061      462,775       489,231      465,299
6EX02 - Finance Costs                                 1,314            0        (214)         (101)          (26)
6EX03 - Materials & Services                        383,282      400,108      446,584       397,606      309,742
6EX06 - Other Expenses                                1,354           74        1,024         1,060        1,084
                                                    787,938      835,243      910,169       887,795      776,099

Net operating result                               -269,118     -262,585     -202,106      -214,854     -264,889


Uncontrollable expenses
6EX04 - Depreciation & Amortization                 235,832      241,050      257,369       258,648      266,695
6EX12 - Internal Charges                            199,895      199,305      299,393       263,568      277,808
                                                    435,727      440,356      556,762       522,216      544,503

Total operating result                             -704,845     -702,940     -758,868      -737,069     -809,393




                                                                                                 Page 35 of 48