2021-03-09 Planning & Environment Committee Meeting Agenda

PLANNING & ENVIRONMENT COMMITTEE MEETING AGENDA                                               9 MARCH 2021


For the half year ended December 2020, the Digital Hub’s operating result was $17k favourable to
budget. YTD revenue was $23k above budget primarily driven by higher membership volumes of
$24k. This is as a result of the higher volume of memberships of $12k and covid-19 adjusted FY21
budget of $12k.

Revenue Analysis

Figure 2: Monthly Revenue by Type
    45,000

    40,000

    35,000

    30,000

    25,000

    20,000

    15,000

    10,000

     5,000

        -
             Jul              Aug          Sept                 Oct                 Nov              Dec

              Lease Revenue           Outgoings Reimbursement            Co-work Space Memberships
              Venue Hire              Grants, Subsidies & Sponsorships   Total




Table 2: Monthly Revenue by Type




Commentary:
       Lease revenue was consistent across the first half year due to both Atmail and Fireball
        leases.
       Table 3 below highlights the year on year growth in Co-work membership revenues
        (represented in ‘Sale of Goods’) of 24% and long-term rentals of 26%. Note the
        ‘contributions’ line relates to sponsorship received from TechOne in FY20. This has not been
        received in FY21 to date and is budgeted for receipt in the 4th quarter of FY21.




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