agmm_budget_execution tunis
TRANSCRIPT
Quarter 1 Highlights
• The Operating Costs Budget
approved by Board
• Members Billing activities
• Preparation for statutory audit
• Accounts being maintained in US$
• Operating activities typically slow
during the Q1
Annual Billing Exercise
• As in every year, all membership renewal
invoices for 2015 were issued and sent out
early December 2014.
• Collections started in December with
US$340k received (in respect of 2015 fees)
• Improved fees collection continues in
2015. Out of total renewals of US$3,270k,
70% were received by the end of Q1
Annual Billing Exercise
• Much efforts are being put in by the team to ensure
effective and timely collection.
• Reminders are sent on time and these coupled with
improved internal processes seem to bear fruits.
Membership Fees Income - Q1 - 2015
Actual Annual %
Quarter 1 Budget Realised
US$'000 US$'000
Renewals $3,270 $3,380 97%
New Members $162 $401 40%
2015 $3,432 $3,781 91%
Last Year - 2014 $2,983 $3,901 76%
Annual Billing Exercise
• There has been a marked improvement in
fees collection since 2013.
• By the End of Q1, 70% of billed members
were collected.
• Discounts allowed to Research &
Educational Institutions amounted to US$
87.5k
• 42 new members were recorded for Q1.
Operating Costs…
• Operating Costs during Q1 reflected a typical start
of the year and matched by low operational
activities.
• Administrative costs to March 2015 were 24% of the
annual budget whilst Distribution costs closed on
5% of the annual budget.
• Overall operating costs to March 2015 have been
stable at 19% of the annual budget
• No deviations from budget have been recorded
during the first Quarter.
Operating Costs…
By the End f Q1 - March 2015
Actual to
March
Annual
budget
Actual vs
budget %
Administrative expenses
HR 546,250 2,216,477 25%
Telephone & Comm. 19,763 66,737 30%
Computer expenses 3,930 31,293 13%
Office expenses 58,852 244,615 24%
Motor vehicle expenses 185 3,167 6%
Insurance - 12,600 0%
Printing, postage & stat 843 18,307 5%
Bank charges 7,011 28,333 25%
Professional fees - 10,813 0%
Depreciation 50,270 210,000 24%
Legal & Consulting fees 18,959 55,667 34%
Other Costs - 2,500 0%
Total Admin. Expenses 706,063 2,900,509 24%
Operating Costs…
Distribution expensesActual to
March
Annual
budget
Actual vs
budget %
Marketing & Comm exps 0 30,000 0%
Bad debts 350 60,000 1%
Meeting Expenses 23,266 240,000 10%
Members Training 0 82,760 0%
Travelling Expenses 26,545 390,000 7%
Research & Development - 7,500 0%
Community support - 167,500 0%
Remote Sites Ops Expenses - 15,000 0%
Total Distribution expenses 50,161 992,760 5%
Total Operating expenses 756,224 3,893,269 19%
Q1 - 2014 848,186 4,054,314 21%
Operating Costs…
Operating Costs - Q1 2015Actual Q1
to March
2015
Annual
Budget
2015
Actual
vs
Budget
%
Administration 706,064 2,898,009 24%
Distribution 50,161 992,760 5%
Operating Costs - 2015 756,225 3,890,769 19%
Operating Costs - 2014 848,186 4,054,314 21%
Looking ahead…
• Operating activities will pick up in Q2 and will be
reflected in the operational financials.
• At the current rate, there are all indications that
budget for 2015 will be achieved without any
major deviations.
• The ongoing US$ strength against all other
currencies must be monitored closely; but is not
expected to have any serious influence on our
bottom line.
FOCUS - 2015
Delivering Service Excellence
and
Continue to improve on high
level of customers satisfaction