The 2020 budget is breakeven and aims to maintain financial sustainability whilst investing in key priorities that will allow the business to deliver on 10-year strategy.
The expenses budget was prepared using a structured, zero-based approach, whereby the available resources were allocated in alignment with the business planning priorities: Safety Leadership, Products and Processes, and People and Innovation. Revenues are based on market conditions and expected results of planned initiatives.
All forward-looking statements within this report should be understood to involve risks and uncertainties that could cause actual financial or operating results to differ significantly.
|($000’s)||2019 Forecast as of Q3||Budget 2020||Forecast 2021||Forecast 2020|
|Total Services and Related Fees||67,191||71,771||74,642||77,627|
|Gain or Loss on Investments and Asset Disposal||671||500||520||541|
|Salaries & Benefits||48,059||50,269||52,668||54,858|
|Audit, Legal and Insurance||725||749||779||810|
|Office & Business||2,131||2,562||2,665||2,772|
|Postage & Courier||225||210||219||228|
|Education & Public Awareness||478||667||694||722|
|Material & Supplies||182||304||316||329|
|Release from education reserve||$380||$200||$0||$0|
|Excess/(Deficiency) of revenue over expenses||$0||$0||$0||$0|