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Lakes Leisure Announces Year End Result


7 September 2012

Lakes Leisure Announces Year End Result

Lakes Leisure has reported an 8% increase in participation numbers for the year ended 30 June 2012 recording 685,635 visits to its facilities in the 2011/2012 financial year.

An Operating Surplus of $61,569 was recorded for the 2011/2012 year representing funds available for future reinvestment in programmes, services or community assets. The statement of Comprehensive Income reports total income for the year of $571,859, which for a not for profit organisation with charitable status, is the accounting result reflecting capital funding and not the operating surplus for the day to day trading of the organisation.

Solid growth in all areas of the business has generated operating revenues of approximately $3.5m while the company incurred the costs of delivering community facilities and services to the value of $5.7m. The difference is offset by operating grant income of $2.2m which is unchanged from last year and equates to less than $2 per week per rate paying household. Lakes Leisure continues to reduce its reliance on the QLDC operating grant from 41% of total revenue in 2010/11 to 38.5% in 2011/12, with a greater proportion of costs being funded by revenue generating initiatives.

“Four years in, Lakes Leisure is achieving its goals, delivering on Council agreed objectives and effectively engaging the community in sport and recreation across the district. Our participation numbers within aquatics, health & fitness and community sports continue to grow despite the ongoing challenges of doing so within facilities that are operating at capacity during peak hours. We reviewed our vision early in 2012 to ‘A vibrant, healthy community’ and Lakes Leisure is certainly making a significant contribution to the achievement of that goal.” Ms McKissock said.

A copy of the Lakes Leisure Annual Report can be downloaded at http://www.lakesleisure.co.nz/downloads/Corporate/2011_12_Annual_Report_Lakes_Leisure.pdf

ENDs

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