Appendix 3 - Management Accounts to end of February 2024 - Perth Theatre and Concert Hall

Perth and Kinross Council · 24 April 2024
Back to Scrutiny and Performance Committee — 24 April 2024 and its agenda

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Perth Theatre and Concert Hall
PTCH I&E Feb-23
Income Budget Actual Variance Actual Variance
Creative Scotland funding 44,500 44,444 (56) 133,334 (88,890)
Trusts and foundations 22,000 29,183 7,183 7,092 22,091
PKC SLA 88,540 88,540 0 88,540 0
External Job funding 0 0 0 0 0
(Net) Ticket income 116,798 107,045 (9,753) 13,471 93,574
PBO 0 1,618 1,618 0 1,618
Rental Income 18,667 42,958 24,291 3,600 39,358
Learning & engagement 3,000 3,628 628 7,924 (4,296)
Fundraising/sponsorship 6,642 5,725 (917) 3,657 2,068
Initiatives 0 0 0 0 0
Theatre Tax Relief 0 0 0 0 0
Other Income 3,332 2,963 (368) 0 2,963
Commercial GP 43,311 48,916 5,605 6,506 42,410
Total Income 346,790 375,021 28,231 264,124 110,897
Expenditure
Payroll costs 196,835 201,823 (4,989) 165,962 (35,861)
Programme costs 26,612 77,189 (50,577) 36,348 (40,842)
PBO 0 2,731 (2,731) 0 (2,731)
Utilities 31,653 29,409 2,244 26,032 (3,378)
Rates 6,108 6,108 0 0 (6,108)
Irrecoverable VAT 0 0 0 0 0
Depreciation 8,333 6,353 1,980 7,233 880
Other costs 28,908 26,673          2,235 60,205 33,533
Total Expenditure 298,449 350,287 (51,838) 295,779 (54,508)
Month Surplus/ (Deficit) 48,340 24,734 (23,607) (31,655) 56,389
Main points to note:
Feb-24
Trusts & Foundations - Income from both The Gannochy Trust & Creative Scotland has been
spread evenly over the year - in 2022-23 it was included in full in the month it was received. More
funding applications have been submitted and are ongoing, including some substantial multi-year
applications, with an emphasis on covering core costs in addition to project costs. An additional
£10,000 was received in December from Forteviot Trust - not included here as the income relates to
future periods. January includes a £25,000 grant from the Green recovery Capital fund relating to
the BMS system. September includes £5,768 final payment re: the Youth Music Initiative (moved
from Creative Scotland).
Creative Scotland - Spread evenly over the year.
Net Ticket income - Includes Dundein Consort, Paul Lewis, two lunchtime concerts, Jekyll & Hyde,
The Time Machine Connor Burns, Jason Foxx and Rob Brydon.
Rental Income - Rentals included HM Royal Maries, BBC Scottish Symphony Orchestra, The
Scottish Fiddle Orchestra, Rock Choir, The Famer's Choir and Scotland Sings Bacharach in
Aberdeen and Edinburgh.
Fundraising/sponsorship - Work is being carried out to make our "Friends" regular giving scheme
more attractive inc. the addition of a new Patron level, to encourage new donors and increase Gift
Aid. We have also implemented our new reusable cups scheme. The income from this was £1,724
in February.

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Programme Costs - These include costs relating PYT Antigone (approx £17k), additional design
work for Perth Theatre subscription and Scotland Sings Bacharach.
PBO - Our PBO Manager commenced work in October 2023. Additional adaptations were required
to the new web platform, which launched in January 2024, to optimise ticketing for the Stone of
Destiny. Our new Ticketing Services Assistant was appointed in February.
Depreciation - Fewer assets have been purchased during the year so far than anticipated.
Other costs - YTD figures include the recruitment costs for Head of Finance & HR and Director
positions. No refunds will be received relating to the HoF post. October 2023 includes £4.5k re:
Director recruitment + £2.75k re: unbudgeted technical repairs. December 2023 includes a further
£4.5k re: Director recruitment.
Payroll Costs - Most permanent posts are now filled.
Learning & Engagement - Mainly block payments for classes taking place from January - March
2024.
Other Income - Mainly ice cream.
Commercial GP - Conferences this month include NHS Fusion, Scotland Imporvement Districts
Conference, East Young Farmers Cabaret Competition, PKC Creative Day of Dance and the
Elevator Conference.

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Perth Theatre and Concert Hall
PTCH I&E FEB YTD
Income Budget Actual Variance Actual Variance
Creative Scotland funding 495,268 494,657 (611) 775,767 (281,110)
Trusts and foundations 178,000 181,833 3,833 162,279 19,554
PKC SLA 973,940 973,940 0 885,400 88,540
External Job funding 0 0 0 22,975 (22,975)
(Net) Ticket income 1,135,112 1,065,935 (69,176) 934,194 131,741
PBO 49,976 58,014 8,038 0 58,014
Rental Income 253,078 272,700 19,622 280,638 (7,938)
Learning & engagement 31,500 32,249 749 28,177 4,072
Fundraising/sponsorship 63,358 42,185 (21,173) 39,330 2,855
Initiatives 10,000 10,525 525 30,404 (19,879)
TTR 0 15,163 15,163 0 15,163
Other Income 35,268 42,696 7,428 0 42,696
Commercial GP 475,848 476,755 908 418,317 58,439
Total Income 3,701,348 3,666,652 (34,696) 3,577,481 89,171
Expenditure
Payroll costs 2,168,165 2,201,061 (32,896) 1,783,385 (417,676)
Programme costs 698,567 752,249 (53,682) 877,582 125,333
PBO 51,765 35,301 16,464 0 (35,301)
Utilities 281,864 299,434 (17,570) 254,258 (45,176)
Rates 67,188 67,187 1 45,230 (21,957)
Irrecoverable VAT 97,500 83,870 13,630 78,407 (5,463)
Depreciation 91,667 74,641 17,025 75,538 897
Other costs 375,962 394,050 (18,087) 355,332 (38,718)
Total Expenditure 3,832,678 3,907,793 (75,115) 3,469,732 (438,061)
YTD Surplus/ (Deficit) (131,330) (241,141) (109,811) 107,749 (348,890)
FEB YTD

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