2022-10-11 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                               11 OCTOBER 2022


                                            2021-22         2021-22           %
                                            Original        Actuals        Original   Variance
  Statement of Income and Expenses          Budget                         Budget



Total Revenue                                   569,477         637,704      112.0%      68,227
Direct Costs (Controllable)
  Employee Benefits                             550,096         497,267       90.4%      52,829
  Finance Costs                                       0              (7)     100.0%            7
  Materials & Services                          413,753         380,279       91.9%      33,474
  Other Expenses                                  1,114           1,122      100.7%          (8)
Subtotal Direct Costs (Controllable)            964,962         878,660       91.1%      86,302
Operating Surplus/Deficit                     (395,486)       (240,956)                 (18,075)
Indirect Costs (Corporate)
  Depreciation & Amortization                   279,151         222,234       79.6%      56,917
  Internal Charges                              275,972         267,777       97.0%       8,195
Subtotal Indirect Costs (Corporate)             555,123         490,011       88.3%      65,112
Net Result - Surplus/(Deficit)                (950,609)       (730,967)                 219,641




Budget Commentary
The J’s financial result overall did improve to close to pre-covid levels and delivered a net
operating deficit of $731K which is a strong result against budget. This was pleasing given the
first half of the financial year still saw significant disruptions to core business which effectively
rendered the venue inoperable at times for the first half of the year. The centre was impacted in
its ability to generate revenue throughout this period and was also required to issue a number
of refunds to customers and hirers for cancelled bookings. The second half of the year
resembled something closer to a normal operating period and was at times very busy as
rescheduled performances were slotted in amongst pre-existing bookings.
End of year performance against budget shows revenue up close to 12%, while expenditure
was under budget by approximately 10%.
Overall, the centre finished $219k ahead of the net budgeted position, a strong result given the
significant impact and uncertainties of Covid-19.
All revenue streams performed strongly against budget, delivering a $68K surplus mainly due
to the following:

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