2020 - 2022 BUSINESS PLAN
Modelling the Integration of Technology & Humanity
Financial Outlook
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 |
| Other Income | ||||
| Monetary Penalty | (68) | 200 | 208 | 216 |
| Gain or Loss on Investments and Asset Disposal | 671 | 500 | 520 | 541 |
| Interest income | 1,120 | 1,000 | 1,040 | 1,082 |
| Total Revenue | $68,915 | $73,471 | $76,410 | $79,466 |
| Expenses | ||||
| Salaries & Benefits | 48,059 | 50,269 | 52,668 | 54,858 |
| Amortization | 4,669 | 5,004 | 4,608 | 4,710 |
| Building Occupancy | 3,294 | 3,335 | 3,469 | 3,607 |
| Audit, Legal and Insurance | 725 | 749 | 779 | 810 |
| Contract Services | 2,124 | 2,289 | 2,381 | 2,476 |
| Travel | 1,710 | 1,824 | 1,897 | 1,973 |
| Office & Business | 2,131 | 2,562 | 2,665 | 2,772 |
| Telecommunications | 661 | 658 | 684 | 711 |
| Information Systems | 2,683 | 3,013 | 3,134 | 3,259 |
| Training | 898 | 1,087 | 1,130 | 1,175 |
| Vehicles | 932 | 999 | 1,039 | 1,080 |
| Corporate Governance | 445 | 510 | 531 | 552 |
| Postage & Courier | 225 | 210 | 219 | 228 |
| Education & Public Awareness | 478 | 667 | 694 | 722 |
| Material & Supplies | 182 | 304 | 316 | 329 |
| Bad Debt | 81 | 190 | 198 | 206 |
| Total Expenses | $69,295 | $73,671 | $76,409 | $79,466 |
| Release from education reserve | $380 | $200 | $0 | $0 |
| Excess/(Deficiency) of revenue over expenses | $0 | $0 | $0 | $0 |