the stinking enigma Posted December 20, 2018 Share Posted December 20, 2018 2 hours ago, quilp said: And how many VIP passes are complimentary? While you are in the thread any chance of answering this one rob? Link to comment Share on other sites More sharing options...
piebaps Posted December 20, 2018 Share Posted December 20, 2018 Why not just make an FOI request? Rob won't know offhand Link to comment Share on other sites More sharing options...
the stinking enigma Posted December 20, 2018 Share Posted December 20, 2018 I'll have to be honest here. I really can't be arsed. How about you make one for me. Link to comment Share on other sites More sharing options...
the stinking enigma Posted December 20, 2018 Share Posted December 20, 2018 Though rob must have a rough idea. Back of a fag packet will do. Or how about he lists ssome of the criteria needed to qualify for complimwntary tickets? I may be due one myself. Link to comment Share on other sites More sharing options...
the stinking enigma Posted December 20, 2018 Share Posted December 20, 2018 Not sure where my text lisp came from. Link to comment Share on other sites More sharing options...
Rob Callister Posted December 20, 2018 Share Posted December 20, 2018 25 minutes ago, the stinking enigma said: While you are in the thread any chance of answering this one rob? Yes, I enclose a link a freedom of information request made in 2017.... 2018 would be about the same, if not slightly lower Link to comment Share on other sites More sharing options...
quilp Posted December 20, 2018 Share Posted December 20, 2018 Link doesn't work yessir... Link to comment Share on other sites More sharing options...
Rob Callister Posted December 20, 2018 Share Posted December 20, 2018 23 minutes ago, quilp said: Link doesn't work yessir... Try this.... https://iom.icasework.com/servlet/servlets.getImg?ref=55554&bin=Y&auth=0&db=ZVD1ZPdIGvo%3D&access_token=fF2WnVF7qDirtiSDPpJfXJCb-e8Bk7APR_SnVZBqzZM%3D.-jNXTzky9tGKjw5l7uRAcQ%3D%3D Link to comment Share on other sites More sharing options...
thesultanofsheight Posted December 20, 2018 Share Posted December 20, 2018 2 hours ago, Rob Callister said: Thanks Declan The original post on IOM ONLINE was incorrect, but has now been corrected. It is worth noting that the £136,832 profit goes straight back into the event - therefore reducing the Manx taxpayers contribution How can it go straight back into the event as Skelly’s answer confirms it cost you over £450k to provide the VIP set up; so actually you lost money on it as Andy Onchan points out above so the loss actually adds to the taxpayer costs of subsidizing the event (ie, providing services where the ticket sales for those services dont actually meet the cost of providing those services in the first place). In business that’s whats commonly referred to as a “loss” Link to comment Share on other sites More sharing options...
Derek Flint Posted December 20, 2018 Share Posted December 20, 2018 13 minutes ago, thesultanofsheight said: How can it go straight back into the event as Skelly’s answer confirms it cost you over £450k to provide the VIP set up; so actually you lost money on it as Andy Onchan points out above so the loss actually adds to the taxpayer costs of subsidizing the event (ie, providing services where the ticket sales for those services dont actually meet the cost of providing those services in the first place). In business that’s whats commonly referred to as a “loss” It’s a negative profit, I think you’ll find. Link to comment Share on other sites More sharing options...
TheTeapot Posted December 20, 2018 Share Posted December 20, 2018 A negative profit? Thats got me confused. Is it some kind of newspeak Link to comment Share on other sites More sharing options...
La Colombe Posted December 20, 2018 Author Share Posted December 20, 2018 That's the kind of profit that will definitely be ploughed back into the event. Link to comment Share on other sites More sharing options...
thesultanofsheight Posted December 20, 2018 Share Posted December 20, 2018 14 minutes ago, Derek Flint said: It’s a negative profit, I think you’ll find. Yes I’m sorry. Please let me put my DfE / Laurence Skelly / Rob Callister beer-goggles on for a moment. It’s not a loss, it’s a negative profit. But then again there will be lots of other areas of profit that we just can’t put our finger on as yet that will probably transform the £300K plus negative profit into a roaring financial success. We just need to wait for someone to invent some new form of quantum accounting that explains it all to non-government people. Link to comment Share on other sites More sharing options...
Declan Posted December 20, 2018 Share Posted December 20, 2018 So... £1760 39 minutes ago, thesultanofsheight said: How can it go straight back into the event as Skelly’s answer confirms it cost you over £450k to provide the VIP set up; so actually you lost money on it as Andy Onchan points out above so the loss actually adds to the taxpayer costs of subsidizing the event (ie, providing services where the ticket sales for those services dont actually meet the cost of providing those services in the first place). In business that’s whats commonly referred to as a “loss” I think we've moved on from when Andy posted. £136,832 is profit on ticket sales not revenue. This was met with skepticism. But it seems that figure is looking at VIP packages rather than entrance fees to the entertainment. There are loads of assumptions because the original question was poorly worded and DofE are being economical with the info. Looking at the 2017 in the FOE request, a total of 1760 VIP packages were sold Max Power tells us the minimum charge is £250 for these packages -assuming the same take up this year that would be revenue of £440,000. On top of that some sales for the entertainment itself, and some at the higher rate, and with costs of £418,300.00 it's feasible that they made a profit of £136,832. (But there's plenty of variables and assumptions in that... plus didn't the bars make any money? And of course the multi-million pound question of do the sponsorship and hospitality and other income streams meet the governments costs of staging the TT). Link to comment Share on other sites More sharing options...
thesultanofsheight Posted December 20, 2018 Share Posted December 20, 2018 21 minutes ago, Declan said: I think we've moved on from when Andy posted. £136,832 is profit on ticket sales not revenue. Regardless of what you think it all pretty much goes to show that they don’t account for any of it properly and they don’t actually have a bloody clue whether the event makes a profit or not. Or whether individual parts or features of the event make a profit or a loss. They can’t know that as they can’t even answer a simple question like the one that was put to them without being deliberately misleading. Financial meetings in IOMG must be a real hoot. Do they reach for some magic fairy dust at the end and sprinkle it over ledgers? Link to comment Share on other sites More sharing options...
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