2017-08-08 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                      8 AUGUST 2017


1.     FINANCE

The J 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                      523,275      523,275      523,275      573,041    109.5%        49,766
Total Expenditure                1,205,203    1,204,643    1,204,643    1,271,939    105.6%      (67,295)
Operating Result                 (681,928)    (681,368)    (681,368)    (698,897)                (17,529)


Expenditure Summary
Employee Benefits                  395,287      400,287      400,287      433,921    108.4%      (33,634)
Materials & Services               371,734      366,734      366,734      398,390    108.6%      (31,656)
Finance Costs                            0            0            0            0      0.0%             0
Other Expenses                           0            0            0           74    100.0%          (74)
Depreciation & Amortization        240,351      239,804      239,804      240,248    100.2%         (444)
Internal Charges                   197,831      197,819      197,819      199,305    100.8%       (1,486)
Competitive Neutrality                   0            0            0            0      0.0%             0
Total Expenditure                1,205,203    1,204,643    1,204,643    1,271,939                (67,295)


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




The J exceeded revenue budget by $49,766 – up 9.5% on budget and 10.5% on 2015/16 -
following another very busy year. Expenditure exceeded budget by $67,295, resulting in a net
financial performance of $17,529 over budget.

The strong revenue result continued on from the previous year with most revenue streams
finishing ahead of budget. Bar and kiosk were up by $38,015 and venue hire by $9,309. Ticket
sales were down $17,857 specifically due to a reduction in the number of internal ticketed events.
However, ticketing commission and related revenue from venue hire events and performances
was up by $18,417 to offset this deficit.
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