EN - Business (Report) - Flipbook - Page 11
TREASURER'S REPORT
Dudley Elliott Treasurer of RASWA
In late May 2021 the RASWA Council agreed to stage the 2021 Perth Royal Show and in
support of this a huge thanks to Lotterywest and the State Government, for real financial
support and financial underwriting of the Show in the case of the Show having to be cancelled
again at short notice.
Our reduced and remaining staff did a brilliant job mobilising the necessary people and resources to make
the Perth Royal Show happen. My thanks to them and their families.
The 2021 Perth Royal Show was hugely supported by the community of Western Australia. Daily
attendance caps to comply with COVID-19 regulations restricted daily admission on two of the eight days
of Show, but still the overall result was very pleasing. We were also fortunately able to assist WA Health
with vaccination roll-outs and COVID-19 testing on site at the Showground.
We continue to focus on our year round activation of the Claremont Showground and with the ongoing
assistance of Wesfarmers in particular, we are developing our future plans for the site.
2022 and 2023 will see spending on necessary maintenance matters across the Showground after very
tight budgets in recent years.
Financially our revenue doubled for the period compared to the previous year, which would be expected
given we held the Perth Royal Show and costs were able to be well controlled.
Our Net Profit of approximately $3.6 million (after depreciation costs of circa $820,000) coupled with our
2021 result of $740,000 surplus, augers well for the short term future.
Our Net Working Capital of over $8 million enables RASWA to partially fund the work required for the next
stage of redevelopment, as we develop feasibility studies for various alternative activities and ground use.
I am aware that our Councillors and Members continue to be frustrated at the slow progress over recent
years as opportunities present and then disappear, or are viewed as not suitable having regards to our
core objects. However, decisions which impact on the next 100 years need to be properly considered and
costed before decisions are made.
A huge thank you to our Chief Financial Officer Sean Burke who with limited resources in
the Finance team also acted as the interim CEO following the resignation of Peter Cooper
in December 2021.
Dudley Elliott
Treasurer
R A S WA A N N U A L R E P O R T 2 0 2 2
11
