According to the feedback received from the Department of Sport, Arts and Culture
(1) The 2019 budget alludes to the budget that was distributed together with the Heads of Terms which the first document is outlining the key aspects of Agreement between International Netball Federation now known as World Netball and Netball South Africa.
The 2019 budget and the current budget are continuously being compared to highlight how revenue and expenditure have changed from 2019 to the present. The following revisions have been offered to show the real changes to the budget. The anticipated revenues substantially increased, whilst the anticipated expenses have significantly increased.
Revenue
|
Bid Budget 2018 |
Head of Terms 2019 |
Current Budget |
Public Funding |
47 000 000 |
58 000 000 |
101 175 000 |
Commercial funding |
30 000 000 |
30 000 000 |
111 500 000 |
Expenditure
|
Bid Budget 2018 |
Head of Terms 2019 |
Current Budget |
Business Operations Costs |
R6 415 600 |
R6 415 600 |
R37 755 303 |
Tournament Operations Costs |
R36 375 100 |
R31 675 100 |
R07 853 922 |
Personnel Costs |
R16 000 000 |
R16 000 000 |
R5 501 910 |
International Federation Costs |
R8 780 000 |
R8 780 000 |
R27 923 460 |
TOTAL |
R67 570 700 |
R62 870 700 |
R189 034 596 |
(2) The set budget has not been exceeded instead the data above shows that the money allotted has increased since 2019. Both the projected spending and the anticipated revenue have increased to a greater level as a result of the previously indicated causes.