2017-08-08 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                      8 AUGUST 2017


NAC interim financial performance as at 30 June 2017


                               2016/17       2016/17      2016/17      2016/17        %
    Statement of Income and
                               Original      Current       YTD           YTD        Current     YTD
           Expenses
                               Budget        Budget       Budget       Actuals      Budget    Variance

Total Revenue                    1,601,109    1,651,109    1,651,109    1,805,698    109.4%      154,589
Total Expenditure                2,428,252    2,525,091    2,525,091    2,586,159    102.4%      (61,068)
Operating Result                 (827,143)    (873,982)    (873,982)    (780,462)                  93,520


Expenditure Summary
Employee Benefits                1,168,250    1,171,750    1,171,750    1,155,586     98.6%        16,165
Materials & Services               638,807      713,607      713,607      788,847    110.5%      (75,240)
Finance Costs                            0            0            0            0      0.0%              0
Other Expenses                         972          972          972          990    101.8%           (18)
Depreciation & Amortization        173,352      191,902      191,902      192,429    100.3%         (527)
Internal Charges                   446,870      446,860      446,860      448,309    100.3%       (1,449)
Competitive Neutrality                   0            0            0            0      0.0%              0
Total Expenditure                2,428,252    2,525,091    2,525,091    2,586,159                (61,068)


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




A combination of favourable weather conditions, a simplified and improved fee structure and a
revitalised gym offering, resulted in the best financial performance the NAC has delivered since
opening in 1999. The NAC’s full year performance saw an overall positive variance to budget of
$93,520. Revenue finished $154,589 ahead of budget, with expenses finishing the year $59,094
over budget.

Revenue was up in all areas and was 14% higher than 2015/16 which is testament to the team’s
hard work to improve the NAC’s offering as a whole. Cumulative annual Learn to Swim (LTS)
program enrolments grew by 284 students to 3,710 this year and revenue finished $47,877
ahead of the $641,977 budget. Occupancy levels of all classes averaged around 86%,
significantly higher than the accepted industry target of 80%.

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