Audited Financial Statements 2017 Audit and Compliance ... · Audited Financial Statement 2016 Bureau allocation of the exceptional surplus Amounts in ‘000 CHF Solidarity projects

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Audited Financial Statements 2017

Audit and Compliance report

Updated Financial forecast 2018

Budget 2019

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• Audited Financial Statements 2017 (annex 7.1)

2017ACTUALS 2018 201920162015

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NET RESULT

REVENUES

CHF 49’509’156

EXPENSES

CHF 47’057’666

CHF 2’451’490

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Main differences

with 2017 budget

REVENUES in ‘000 CHF

Commercial revenues:• Value in kind (top partner) +3’047

Operational revenues:• Calendar Fee & Organising Dues

• Anti-doping & Welfare

+1’012

+518

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Main differences

with 2017 budget

EXPENSES in ‘000 CHF

Commercial expenses:• Value in kind (top partner)

• Additional support - Nations Cup(paid by provision release)

+3’047

+1’261

Operational expenses:• Professional Fee/Consulting

• Education

• Anti-doping & Welfare

-943

-194

+666

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ANTI-DOPING & WELFARE in ‘000 CHF

Income 4’418

Direct costs: (Labs testing - Vet’s Travel expenses - Vets Fee –Transport of Samples - Kits Cost – MCP Seminar & Vet Research)

3’616

Indirect costs:(FEI Staff Charges (442) - Integrity Unit (50%) (190) - Legal Costs (170) 802

Indirect costs are included in other sections of P&L

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NET FINANCIAL RESULT

1’404 – Positive performance of the portfolio

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Audited Financial Statement 2016

Bureau allocation of the exceptional surplus Amounts in

‘000 CHF

Solidarity projects paid by regular FEI p&l instead of the fund 662

Extraordinary allocation to Solidarity fund 1’000

Anti-Doping & Welfare provision to develop additional testing and

education628

Provision for financial, litigation and operation risks 431

Provision for WEG 2018 1’200

Total allocated surplus 3’921

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2018FORECAST 201920172015 2016

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REVENUES (in 000’CHF)

• Commercial revenues +93

• Non-Operational revenues o YOG o Other Revenues

o WEG Pavilion (240) World Cup Dressage (115)o VAT Reimbursement (118)

+83

+473

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EXPENSES (in 000’CHF)

-

Commercial expenses

• Sponsorship Expenses

• TV expenses

-135

+730

General & Administrative expenses Travel & Expenses

(Commercial Advisory Group & Time Keeping team at

WEG test events)

+125

NET PROFIT REDUCED TO 503 vs 815

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2019BUDGET2015

20182016

2017

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REVENUES in ‘000 CHF

Commercial Revenues 28’776

Operational Revenues:

• Calendar & Organising dues• Hosting Fee

• Anti-doping & Welfare

6’230

1’310

4’250

Non-Operational Revenues:• Other revenue (release of provision)

• Contribution from Funds

370

2’056

Budget 2019

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EXPENSES in ‘000 CHF

Commercial Expenses 23’186

Operational Expenses:• Professional Fee/Consulting

• Education

• Anti-doping & Welfare (Indirect costs in other sections of P&L amounting to 800)

3’945

1’002

3’600

G&A Expenses:• Staff Charges 14’953

Budget 2019

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Budget 2019