2020-03-10 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                                               10 MARCH 2020


Revenue performance was particularly pleasing given last year’s dip in first-half revenue. 2019/20’s
result was $34k (10%) up on the corresponding period in 2018/19 and was the highest first-half
result ever produced by The J. Revenue benefitted from strong performance in most areas but
particularly from venue hire, equipment hire and on-charging of employee costs to hirers. Results
such as these are validation for the investment Council recently made in upgrading the centre’s
PA system and are reflective of an increasingly positive industry reputation for the venue.

There were a variety of underspends relating to materials and services expenditure, with the largest
being $17,017 for building and facilities maintenance. Much of this relates to timing of maintenance
works and it is expected that maintenance expenditure will fall back in line with budget by year’s
end.

The below comparison of the past four years’ half-yearly financial performance data shows the
10% uplift in revenue in 2019/20. It also shows controllable expenses falling to the lowest level
since 2016/17 which is a credit to management for their tight financial control of the venue.

                                         Historical financial performance - The J
                                                        2016/17 YTD          2017/18 YTD          2018/19 YTD          2019/20 YTD
Revenue                                          actuals as at 31 Dec actuals as at 31 Dec actuals as at 31 Dec actuals as at 31 Dec
40025 - Misc Fees - Venue Catering                                  0.00             (127.27)                 0.00                 0.00
40032 - Other - Sales - Equipment Hire                      (20,970.47)          (28,262.25)          (26,658.15)          (35,611.37)
40034 - Lease Revenue                                       (39,959.76)          (41,412.50)          (48,872.50)          (42,886.04)
41103 - Other - Sales - Bar & Kiosk Sales                   (62,248.03)          (70,968.00)          (63,864.34)          (68,076.31)
41154 - Venue Hire                                          (91,964.52)          (95,977.94)         (103,525.18)         (110,259.46)
42000 - Other - Commission Received                         (28,300.28)          (35,158.60)          (34,296.84)          (33,559.59)
42017 - Other - Sales - Tickets                               (6,931.87)         (10,114.12)            (5,530.26)           (1,246.39)
42032 - Other - Sundry Recoupment                             (4,445.20)           (7,414.76)           (4,187.62)           (9,807.85)
42043 - Other - Misc - Photocopying and Printing              (1,344.92)           (1,322.52)           (1,204.41)           (2,789.07)
42044 - Other - Misc - Employee Cost Recoveries             (39,901.79)          (64,591.12)          (52,695.17)          (66,000.91)
42046 - Other - Misc - Telephone Transaction Fee                (470.85)             (731.76)             (524.43)             (632.83)
42050 - Marketing Recoupment/Recovery                           (257.73)           (2,394.12)           (1,350.00)           (5,935.88)
49029 - Internal Recoveries - Venue Hire                      (1,485.08)                 0.00                 0.00                 0.00
49031 - Internal Recoveries - Equipment Hire                    (120.00)                 0.00                 0.00                 0.00
                                                             (298,401)            (358,475)            (342,709)            (376,806)


Controllable expenses
6EX01 - Employee Benefits                                  217,230.78            229,413.23            248,385.93            258,509.14
6EX02 - Finance Costs                                            0.00                (23.40)               (88.40)                (6.87)
6EX03 - Materials & Services                               182,234.15            203,186.87            188,196.33            165,860.74
6EX06 - Other Expenses                                           0.00                512.10                530.00                541.90
                                                             399,465               433,089               437,024               424,905

Net operating result                                       -101,064                -74,614               -94,315               -48,099


Uncontrollable expenses
6EX04 - Depreciation & Amortization                        119,397.44            119,362.56            125,611.26            133,347.54
6EX12 - Internal Charges                                    99,756.73            150,014.66            130,200.60            139,265.50
                                                             219,154               269,377               255,812               272,613

Total operating result                                     -320,219              -343,991              -350,127               -320,712




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