Budget Execution – Q1 By

Patrisse AGMM - AIS’15 – Tunis – June 2015

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

Thank you

for your

Attention

Questions?

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