Page 22 - Scouts NSW Annual Review

22
Financial Report
Scouts NSW reports a sound nancial result for 2016/17 as outlined in the accompanying table.
Our revenue has bene ted from ve main contributors:
» Membership fees $3,059,925 (prior year $3,034,910).
» Scouting activities and special events $2,197,093 (prior year $12,989,421). Naturally, we did not have the signi cant contribution from the Jamboree as we enjoyed last year however the Cuboree held in 2017 was a nancial success.
» Income generated from the Investment Portfolio $1,235,961 (prior year $1,125,943).
» Receipt of government grants $1,153,469 (prior year $772, 367).
» Favourable returns from our Asset Management Program $663,280 net (prior year $506,003 net).
This was supported by other items of:
» Pro t on sale of xed assets $6,140,883 (prior year Nil).
» Increase in the unrealised value of the Investment Portfolio $1,167,236 (decrease of $2,592,013).
These are satisfactory nancial results however they again include one-off transaction types that cannot be reliably expected in future years.
Consistent with our Strategic Plan 2016-18 investment into Scouting in the last 12 months includes:
» Property Infrastructure maintenance and upgrade $845,872 (prior year $784,935).
» Development and Promotional activities $374,021 (prior year $232,565).
» Leader Training $123,852 (prior year $125,372).
Again this year, the results re ect the commitment of many cost centre owners who put such rigorous effort into setting a tight budget and monitoring performance against budget, and who regularly deliver a result that is on, or better than, budget.
The Strategic Plan 2016-18 has focused Scouts key priorities – including “Our Money”.There are many important contributors to building the sound footing of Scouts.The critical challenge for Scouts remains an increase in its membership.
The current year budget has been structured to support the nine Strategic Goals as outlined in the Strategic Plan.
The state wide acceptance of the challenges outlined in the Strategic Plan together with the sharing of innovative ideas between the cost centres within Groups, Regions and State is critical if we are to fund and expand the program into the future.
The State Finance Committee continues to encourage and challenge the organisation on nancial matters and our goal remains to implement best practice at every opportunity together with best practice in governance matters. I thank each member for their terri c contributions.
The Investment Committee and Insurance Committee members continue to provide their expertise to ensure these parts of our organisation provide satisfactory nancial returns.
The State Of ce nance team provides ne support to our organisation. Carlos Uranza recently completed an extended period of good service to Scouts NSW, which I offer my sincere thanks. I also welcome Mark Katz as our Chief Financial Of cer.
Bob Mulcahy, Honorar y Treasurer
Summary
Income
Expenses
Surplus
2016-17 ($)
19,201,634 12,627,542 6,574,092
2015-16 ($)
24,492,602 22,451,271 2,041,331
Recent Operating Surpluses
$770,660 – 2013 $389,727 – 2014 $952,063 – 2015 $2,041,331 – 2016 $6,574,092 – 2017