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.