SLSNZ Strategy - 2019-20 Three year summary v2.1

While a ‘game changing’ business model that will reduce the reliance on traditional revenue streams is
being worked on (including a new Foundation and a more direct Government funding model), these are
long term plays and in the meantime we have to work very hard just to stand still.
The reality is that the organisation will remain in a tight financial position for a number of years to come,
and must keep a very close eye on its financial health.
Targets will be aggressive to maintain the pressure on this aspect of performance.
BUDGETS ($m)
($m) 2016/17
(actual)
2017/18
(actual)
2018/19
(F/cast)#
2019/20
(Budget)
2020/21
(est)
2021/22
(est)
Revenue 9.54 10.35 10.49 9.97 9.70 9.80
Expenditure 9.44 9.96 9.93 9.51 9.25 9.35
Net Operating Surplus 0.10 0.39 0.56 0.46 0.45 0.45
plus Depreciation 0.34 0.35 0.22 0.25 0.20 0.20
Less Capex 0.50 0.23 0.45 0.15 0.15 0.15
=Cash Surplus -0.06 0.51 0.33 0.56 0.50 0.50
Net Assets (Total Equity) 1.55 1.95 2.51 2.97 3.42 3.88
Working Capital (SLSNZ) 0.54 1.04 1.37 1.93 2.43 2.93
Foundation – accum funds 0.0 0.14 0.20 0.50 1.00 1.50
Working Capital (inc Foundation) 1.57 2.43 3.43 4.43
# Forecast v6
Note: All Capital Expenditure (Capex) has to be funded from the Operating Surplus before any of the
surplus can be directed towards reserves. Operating Surplus figures are before any Balance Sheet
adjustments such as write-downs of assets, but these adjustments do not typically impact cash levels.
Surf Life Saving New Zealand Pelorus Trust Sports House, 93 Hutt Park Road, Seaview, Lower Hutt, Wellington 5010
PO Box 39129, Wellington Mail Centre, Lower Hutt 5045. www.surflifesaving.org.nz