Kathy Guidi
Bottom Line: We should see a net cash surplus before tax of close to $15,000! Woot. Post tax surplus will be around $10,000 (and when/if we get our charitable status, then we'd get the tax payment back).
We did $70,000 in ticket sales revenue. Truly amazing. Final ticket sales number will be something like 754 (haven't had time to do the *final* number)
Pretty much all vendor invoices have come in and been paid. Everyone has been quite easy to work with this year.
A few things we need to discuss:
1). Volunteer Fire Services: We have paid Taupo FS a total of $2677. We had discussed whether to also make a 'donation' to Mango Volly Firefighters though this is not required. Tim/I had batted around a number of $2000 to give them. Thoughts?
2) I want to spend up to $100 to send flowers or something nice to Sharleen at All Finanz Risk Services as she went out of her way to secure us the extra insurance we needed. Thoughts? Is there anyone else we want to acknowledge in some special way?
3) I've upped the budget for the ExCom to $3k. Karl has bought his ticket over from Oz and $3k just allows for any extra costs that come up.
4) What is not on here is Site Search costs which we'll start to incur as people go looking.
Hmmm, that's about it. We did darn good this year!
| Revenue: | |
| Interest Earned (bank bal * 2%) | $ 135 |
| ticket sales: first tier | $ 17,600 |
| ticket sales: 2nd tier | $ 10,350 |
| ticket sales: 3rd tier: | $ 33,440 |
| Gate sales: | $ 9,328 |
| Fundraising | $ 1,785 |
| sponsorship from TDC: | $ 5,750 |
| total income: | $ 78,388 |
| Expenses - | |
| Administrative: | |
| Office Expense: | $ 40 |
| Accounting: (Xero software) | $ 200 |
| Art Grants disbursement | $ 7,000 |
| Bank Charge | $ 40 |
| Carbon Offsets | $ 1,965 |
| Capital Items: | |
| 2013: 2nd freezer for Depot | $ 150 |
| 2013: Tools | $ 1,423 |
| Cost of Goods: | |
| Crew Appreciation | $ 400 |
| Gate: (Tshirts/materials/gennie/lighting) | $ 836 |
| Greeters (designer / gennie / Tshirts) | $ 800 |
| Paddock Pirates/Ambassadorables | $ 280 |
| Man: | $ 4,576 |
| MPW Infrastructure/Site, crew items: | $ 1,323 |
| MPW/Temple/Man Kitchen: | $ 2,072 |
| Blizzard maintenance: (repairs & maint) | $ 515 |
| Temple: | $ 3,400 |
| Supplies: (Toilet Paper, Hand sanitizer, art supplies) 2012: added clipboard boxes | $ 203 |
| The Depot: | $ 835 |
| The Artery: | $ 500 |
| Centre Camp Infrastructure | $ 100 |
| Site Manager Budget {new} | $ 400 |
| Paddock Lighting: | $ 177 |
| Paddock Post supplies | $ 75 |
| Community Art Project: {new} | $ 800 |
| INSURANCE | $ 1,639 |
| Miscellaneous: | $ 316 |
| Rent: | |
| Council/SLAM/TDC Fees for festival: | $ 1,690 |
| Pony Shed Storage Rental (to SLAM): | $ 300 |
| Services: | $ - |
| Event Medics: | $ 5,175 |
| Head of Security Management {Paul}: | $ 500 |
| Security Guard Hiring | $ 9,154 |
| Hirepool for Toilets: | $ 6,469 |
| $ - | |
| - | |
| McEntee for Centre Camp Marquee: | $ 532 |
| Radio rental: | $ 1,380 |
| FIRE HIREAGE - paid to Taupo | $ 2,677 |
| Fire Hireage - to pay to Mangakino | $ 2,000 |
| Printing: | |
| Printing: Stickers / postcards | $ 778 |
| Printing: Patches for Volunteers | $ - |
| Printing: Entry Signs | $ 300 |
| Printing: Wristbands (1000) | $ 516 |
| Printing: Event Guide | $ 500 |
| Print ads (Dam Advertiser): | $ 56 |
| Printing: Survival Guides for tickets (250) | $ - |
| Taxes (on previous year): | $ - |
| Telephone (conf ph fees / ph cards): | $ 100 |
| Travel: (Excom summit) | $ 3,000 |
| total expenses: | $65,192 |
| GST Paid on revenue: | ($10,225) |
| GST claimed on expenses: | $8,503 |
| Sub-total: | $63,471 |
| Net Cash Movement: | $14,917 |
| Est Tax: |
$4,175 |
| Est Post tax surplus/deficit: | $10,742 |
| Beginning of period bank balance: | $ 14,138 |
| End of period bank balance (post festival): | $ 24,880 |
Bruce Scanlon
Bottom Line: We should see a net cash surplus before tax of close to $15,000! Woot. Post tax surplus will be around $10,000 (and when/if we get our charitable status, then we'd get the tax payment back).
This is one of those years where if we have some legitimate expenses we can get in before the end of the year it would be good to do so, remembering also that depreciable expenses of major equipment won't have so much impact on this year specifically.
1). Volunteer Fire Services: We have paid Taupo FS a total of $2677. We had discussed whether to also make a 'donation' to Mango Volly Firefighters though this is not required. Tim/I had batted around a number of $2000 to give them. Thoughts?
Would like to see a short explanation on how the sum of $2000 for Mango volunteers was determined.
2) I want to spend up to $100 to send flowers or something nice to Sharleen at All Finanz Risk Services as she went out of her way to secure us the extra insurance we needed.
Great idea. Also to Phil the fire chief.
YAY TEAM!!!!!!!!!!!!!!!!!!
Kathy Guidi
Would like to see a short explanation on how the sum of $2000 for Mango volunteers was determined.
a: We *thought* and budgeted for $10,000 for fire services when we were going to have to rent and find all the equipment to do the burn in the far paddock. The actual cost was only $2600. We've never given any money to Mankagino vollys in our 7 years there except for the BBQ and beers we've had for them a few times. So... thought it would be good public relations to give them something this year. I'm open to the amount but I think we should do something.
Pete Wyatt
Yes I agree about the flowers etc to suppliers who have gone further than expected to help us
on the income side I have been asked how much money we made with the Ice sales as some people commented about the $5 price per bag
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Bruce Scanlon
a: We *thought* and budgeted for $10,000 for fire services when we were going to have to rent and find all the equipment to do the burn in the far paddock. The actual cost was only $2600. We've never given any money to Mankagino vollys in our 7 years there except for the BBQ and beers we've had for them a few times. So... thought it would be good public relations to give them something this year. I'm open to the amount but I think we should do something.
Thanks for that.
If all we have ever given Mango was BBQ and beer for the last 7 years then going to $2000 seems like quite a big jump to me.
Were any Mango personnel involved in the event this year?
Kathy Guidi
Were they upset about the $5 price? I had discussed the pricing with Poppy/Ash. I think bags cost us $3.29 - $3.89 depending where we got them from. Plus petrol to do an ice run daily for a week. So I just thought to round it up to $5/bag rather than doing it for $4.50 or $4.75 and having to make small change.
I believe we brought in around $350. That money went towards post-festival cleanup costs & crew groceries which were not budgeted for. In the past the ice money 'profit' was so small that we've not accounted for it in the financials. But now that we've gotten bigger and the amount is becoming more significant, we shall be doing so in future years.
Hippie Tim
>Would like to see a short explanation on how the sum of $2000 for Mango volunteers was determined.
It went something like this...
a: We *thought* and budgeted for $10,000 for fire services when we were going to have to rent and find all the equipment to do the burn in the far paddock. The actual cost was only $2600. We've never given any money to Mankagino vollys in our 7 years there except for the BBQ and beers we've had for them a few times. So... thought it would be good public relations to give them something this year. I'm open to the amount but I think we should do something.
Thanks for that.
If all we have ever given Mango was BBQ and beer for the last 7 years then going to $2000 seems like quite a big jump to me.
Were any Mango personnel involved in the event this year?
chris hankins
i say $2000 would be fine and dandy for the Mangakino FB.......
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http://internationalartsmegacrew.com/
Karl Matthews
Poppy Norman
Pete Wyatt
Firey Emz
:)
Ash Easton
Kathy we don't deserve you!
I would love to support manga fb and I think lumos' idea of phrasing is great.
Kathy Guidi
We're a week away from 'closing the books' for our 31 March financial year end.
Currently we have around $28k in the bank ($14k from start of year and about $14k in current cash profit pre-tax from this year!).
There's approx $1600 in further payments that still need to be made this week for various things: one more art grantee to be paid, a few of you on committee I'm waiting receipts for, and Tim/Bruce's latest site search expenses.
We have paid $1500 to Mango FF; we purchased flowers for Sharleen as a thank you (see her note below); we purchased a special kind of flashlight for Phil/Taupo Fire Chief as a thank you; we've made our $1900 donation to Mangatuarti Trust for the carbon offsets..... and we've pre-spent almost $2k of our $3k budget for the Excom gathering.......
SO.. THIS IS FANTASTIC! We did really well this year. More analysis and commentary to come once the books are closed.....
Hi Kathy,
I returned to work today from a 3 day conference to your lovely flowers! What a surprise, they are beautiful, thank you so much!
Glad to hear the festival was a success!
Regards, Sharleen
|
|
| ||
Hana Tuwhare
bex Wil
Firey Emz
Kathy Guidi
If anyone has any questions or feedback, lemme know.
**************************************************************
2013 FYE Financial Report
We had a record population explosion with attendance reaching 754 (comprised of 732 paying participants and 22 children)! Good weather, Auckland anniversary weekend, and perhaps an appropriately named theme all contributed to one of our largest growth years.
|
YEAR |
ATTENDANCE |
% growth |
|
2007 |
145 |
|
|
2008 |
182 |
+ 25% |
|
2009 |
250 |
+37% |
|
2010 |
450 |
+80% |
|
2011 |
530 |
+17% |
|
2012 |
536 |
0% |
|
2013 |
754 |
+41% |
Ticket prices were kept stable this year and and we stayed with our tiered ticket pricing module. Tickets were $70/$90/$110, $160 at the gate, and $70 for locals. We changed our policy with respect to locals and increased prices to be in line with our tier one prices. We also required locals to pre-register their intentions to attend Kiwiburn. This was done to tighten up our gate policy and to allow us to exclude troublesome locals.
We continued to use Cosmic Corner for ticket sales which worked well again this year. Per the chart below, we still tend to see most of our ticket sales happen at the tier 3 level (1 Dec to festival start date) and we are still getting a decent show of gate sales (7%). All this data collection and breakdown helps with our budget forecasting for revenue.
Ticket Distribution Breakdown
|
Ticket Price |
Cosmic Online |
Cosmic Physical |
Gate |
|
Total Sold |
% |
Projected 0% growth |
% |
|
$ 70.00 |
157 |
98 |
11 |
* |
266 |
36% |
161 |
30% |
|
$ 90.00 |
89 |
30 |
0 |
|
119 |
16% |
177 |
33% |
|
$110.00 |
145 |
150 |
1 |
* |
296 |
40% |
188 |
35% |
|
$160.00 |
n/a |
n/a |
51 |
|
51 |
7% |
10 |
2% |
|
|
391 |
278 |
63 |
|
732 |
100% |
536 |
100% |
|
* Nine tickets sold to crew workers pre-festival; three tickets to locals |
||||||||
With respect to the budget, we anticipated 0% growth for the year and budgeted accordingly. At 0% growth, we were estimating revenue at $60,000 and expenses at $59,000, thereby allowing us a minimal cash profit of $1000.
With the increase in attendance, we actually grossed $78,000 in revenue, an $18,000 increase over budget. This was fortuitous as we incurred almost $7000 in unforeseen expenses related to the running of the festival. As many people know, the county-wide fire ban presented many problems to the Committee and we suddenly found ourselves working with the Taupo District fire chief, something we’ve never had to do before. The fire chief, while wanting to be cooperative, also needed to be safe, and in order for us to do the Man and Temple burns, we had to increase our insurance coverage (extra $1100) and, for the first time, we had to pay for fire services ($4226 paid to Taupo and Mangakino fire services departments). Due to the increase in particpants, we also increased our portaloo rentals (extra $1180) and our carbon offsets to the Maungatautari Ecological Trust (http://www.maungatrust.org/) increased accordingly (extra $509).
An additional $3000 was incurred post-festival: $1145 towards site search costs related to investigating new sites, and $1900 was spent on reimbursing year-round volunteers for Kiwiburn related expenses (this pertains to most ExCom Members, some of the Media SubCommittee members and a few other people who we estimate put in more than 250+ hours for Kiwiburn each year).
As a result of the added expenditures, actual expenses totaled $69,000 ($10,000 more than budgeted). Nonetheless, this still left us with a cash surplus of $9000! Added to our beginning of year $14,000 balance, Kiwiburn finished the year with $23,000 in the bank!
With plans underway for moving to a new site, we expect to incur a healthy dose of costs for 2014 as we will need to move two shipping containers worth of assets to our new location as well as develop further infrastructure. As we keep growing as a festival, so do our expenses – all with the hopes of providing the community with a safe and fun event.
Kiwiburn Cash Summary Report
For period April 1, 2012 – March 31, 2013
GST Inclusive
|
|
2013 Budget (based on 0% growth) |
2013 Budget (41% Growth) |
2013 Actuals (41% growth) |
Actual - Original Budget |
% of Income |
|
INCOME: |
|
|
|
|
|
|
Bank Interest: |
$ - |
$ - |
$ 169 |
|
0% |
|
Ticket sales: first tier |
$ 12,382 |
$ 15,871 |
$ 17,575 |
|
22% |
|
Ticket sales: 2nd tier |
$ 10,130 |
$ 22,446 |
$ 10,350 |
|
13% |
|
Ticket sales: 3rd tier: |
$ 22,405 |
$ 29,097 |
$ 33,440 |
|
43% |
|
Gate sales: |
$ 6,861 |
$ 2,418 |
$ 9,328 |
|
12% |
|
Fundraising: |
$ 2,530 |
$ 1,785 |
$ 1,785 |
|
2% |
|
sponsorship from TDC: |
$ 5,750 |
|
$ 5,750 |
$ 5,750 |
|
7% |
||
|
total income: |
$ 60,058 |
$ 77,367 |
$ 78,397 |
$ 18,339 |
100% |
|
|
|
|
|
|
|
|
EXPENSES: |
|
|
|
|
% of Expenses |
|
Administrative: |
|
|
|
|
|
|
Office Expense: |
$ 37 |
$ 37 |
$ - |
$ (37) |
0% |
|
Accounting: (Xero software) |
$ 241 |
$ 241 |
$ 220 |
$ (21) |
0% |
|
Art Grants disbursement |
$ 7,000 |
|
$ 7,000 |
$ 5,975 |
$ (1,025) |
9% |
||
|
Community Art Project: |
$ 800 |
$ 800 |
$ 740 |
$ (60) |
1% |
|
Bank Charge |
$ 36 |
$ 36 |
$ 23 |
$ (13) |
0% |
|
Carbon Offsets |
$ 1,394 |
$ 1,965 |
$ 1,903 |
$ 509 |
3% |
|
Capital Items: |
|
|
|
$ - |
0% |
|
2013: 2nd freezer for Depot |
$ 150 |
|
$ 150 |
$ - |
$ (150) |
0% |
||
|
2013: Tools |
$ 1,500 |
$ 1,500 |
$ 1,423 |
$ (77) |
2% |
|
Cost of Goods: |
|
|
|
$ - |
|
|
Enterntainment /Crew Appreciation: |
|
|
$ 817 |
$ 817 |
1% |
|
Gate: |
$ 900 |
$ 900 |
$ 836 |
$ (64) |
1% |
|
Greeters: |
$ 800 |
$ 800 |
$ 742 |
$ (58) |
1% |
|
Paddock Pirates/Ambassadorables |
$ 500 |
$ 500 |
$ 554 |
$ 54 |
1% |
|
Man: |
$ 4,400 |
$ 4,400 |
$ 4,876 |
$ 476 |
7% |
|
MPW Infrastructure/Site, crew items: |
$ 1,200 |
$ 1,200 |
$ 958 |
$ (242) |
1% |
|
Kitchen (for Temple/Man/MPW Crew): |
$ 2,000 |
$ 2,000 |
$ 1,990 |
$ (10) |
3% |
|
Blizzard maintenance: (repairs & maint) |
|
$ 500 |
$ 600 |
$ 544 |
$ 44 |
1% |
|
|
Temple: |
$ 3,400 |
$ 3,400 |
$ 3,401 |
$ 1 |
5% |
|
Supplies: |
$ 300 |
$ 300 |
$ 356 |
$ 56 |
1% |
|
Depot: |
$ 1,000 |
$ 1,000 |
$ 797 |
$ (203) |
1% |
|
Artery: |
$ 500 |
$ 500 |
$ 481 |
$ (19) |
1% |
|
Centre Camp Infrastructure |
$ 500 |
$ 500 |
$ 529 |
$ 29 |
1% |
|
Site Manager Budget |
$ 400 |
$ 400 |
$ 436 |
$ 36 |
1% |
|
Paddock Lighting: |
$ 500 |
$ 500 |
$ 177 |
$ (323) |
0% |
|
Paddock Post supplies |
$ 100 |
$ 100 |
$ 34 |
$ (66) |
0% |
|
INSURANCE |
$ 598 |
$ 1,650 |
$ 1,714 |
$ 1,116 |
2% |
|
Miscellaneous: |
$ 1,400 |
$ 1,400 |
$ 1,064 |
$ (336) |
2% |
|
Rent: |
|
|
|
$ - |
|
|
Council/SLAM/TDC Fees for festival: |
$ 2,500 |
$ 2,500 |
$ 1,750 |
$ (750) |
3% |
|
Pony Shed Storage Rental (to SLAM): |
|
$ - |
$ 300 |
$ 400 |
$ 400 |
1% |
|
|
Services: |
|
|
$ - |
$ - |
|
|
Event Medics: |
$ 5,175 |
$ 5,175 |
$ 5,175 |
$ - |
7% |
|
Head of Security Management {Paul}: |
$ 500 |
|
$ 500 |
$ 500 |
$ - |
1% |
||
|
Security Guard Hiring |
$ 9,100 |
$ 9,100 |
$ 9,154 |
$ 54 |
13% |
|
Hirepool for Toilets: |
$ 5,290 |
$ 5,290 |
$ 6,469 |
$ 1,179 |
9% |
|
Centre Camp Marquee: |
$ 532 |
|
$ 532 |
$ 533 |
$ 1 |
1% |
||
|
Radio rental: |
$ 1,380 |
$ 1,380 |
$ 1,380 |
$ - |
2% |
|
Fire Fighters: |
|
$ 4,500 |
$ 4,226 |
$ 4,226 |
6% |
|
Printing: |
|
|
|
$ - |
0% |
|
Printing: Stickers / postcards |
$ 452 |
$ 452 |
$ 452 |
$ - |
1% |
|
Printing: Patches for Volunteers |
$ 355 |
$ 355 |
$ 326 |
$ (29) |
0% |
|
Printing: Entry Signs |
$ 171 |
$ 171 |
$ 300 |
$ 129 |
0% |
|
Printing: Wristbands (1000) |
$ 480 |
$ 480 |
$ 552 |
$ 72 |
1% |
|
Printing: Event Guide/Census |
$ 200 |
$ 350 |
$ 428 |
$ 228 |
1% |
|
Print ads (Dam Advertiser): |
$ 28 |
$ 28 |
$ 56 |
$ 28 |
0% |
|
Printing: Survival Guides for tickets (250) |
|
$ 232 |
$ 312 |
$ 300 |
$ 68 |
0% |
|
|
Telephone: |
$ 95 |
$ 95 |
$ 35 |
$ (60) |
0% |
|
Travel: (Excom summit) |
$ 2,500 |
$ 2,500 |
$ 2,029 |
$ (471) |
3% |
|
Site Search: |
|
|
$ 1,145 |
$ 1,145 |
2% |
|
Volunteer Expense Reimbursement |
|
|
$ 1,902 |
$ 1,902 |
3% |
|
Expenses: |
$ 59,145 |
$ 65,899 |
$ 67,701 |
|
|
|
GST Paid on revenue: |
$ (7,834) |
$ (10,091) |
$ (10,226) |
|
2% |
|
GST claimed on expenses: |
$ 7,715 |
$ 8,596 |
$ 11,791 |
|
|
|
Total expenses: |
$ 59,026 |
$ 64,403 |
$ 69,266 |
$ 10,240 |
100% |
|
|
|
|
|
|
|
|
Net Cash Movement: |
$ 1,032 |
$ 12,964 |
$ 9,131 |
$ 8,099 |
|
Recommendations/Improvements for Next Year:
· Train new accounts person to handle the day to day accounts.
*******************************************
chris hankins
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