At 30 June 2006, NICNAS had a net operating surplus of $370 065.

Table 3 provides a summary of NICNAS's 2005-06 financial overview (accrual) while Table 4 provides two-year trend data for operational performance for NICNAS.

NICNASs Financial Reports are presented at Appendix 03.

Table 3: NICNAS financial overview 2005-06

Revenue    $000
Assessments   2232
NICNAS Registration   5569
Sales, Industry education & research projects   174
Interest   349
    8324
Expenditure    
Employee   4602
Administration   1260
Indirect overheads   2092
    7954
Surplus / (Deficit)   370

Table 4: Two -year comparison of NICNAS revenues and expenses

Year

2004-05*
$000

2005-06
$000

Revenue

6933

8234

Expenses

5498

7954

Surplus (deficit)

1435

370

* NICNAS received a small appropriation from the Government up until June 2005 to assist with its compliance program. From July 2005 the cost recovery policy arrangements moved to a 100 per cent cost recoverable operations.

Revenue and expenses

The 2005-06 total revenue of $8.235 million is an increase of 19 per cent compared to the 2004-05 result, reflecting the second phase of introducing Tier 1 NICNAS Registration, while a further 14,000 companies were identified (above 2004-05 levels) as potentially requiring to register.

The increase in expenses reflected the costs associated with the increased volume of work from implementing reform outcomes including NICNAS Registration, chemical assessments, registration follow-up and industry awareness and compliance programs.