REVENUES
NOTES
2016
2015
Revenue from Government (Grant)
9
20,097,600
20,097,600
Revenue room and tourism sales tax collection
9
21,985,604
16,422,769
Revenue from Government Tourism Master Plan
9
--
300,000
176,681
103,397
42,259,885
36,923,766
Other revenue
10
EXPENSES PAYROLL AND OPERATING EXPENSES Personnel expenses
11
5,845,452
6,345,016
Supervisory Board expenses
19
203,362
--
Operating expenses
12
1,568,083
1,592,340
Currency exchange rate difference
17
128,509
(382,200)
5
167,251
179,708
7,912,657
7,734,864
15,321,848
21,218,344
--
29,780
426,098
284,331
Depreciation
SALES AND MARKETING EXPENSES
13
OTHER TOURISM PROJECTS Cruise tourism Market research Third party initiative contributions
14
1,137,785
1,002,696
Product Development
15
1,621,726
2,267,033
Strategic Tourism Management
16
13,975,634
3,976,237
17,161,243
7,560,077
1,864,138
410,481
158,440
196,821
PROFIT (LOSS) FOR THE YEAR
1,705,697
213,660
COMPREHENSIVE INCOME (LOSS) FOR THE YEAR
1,705,697
213,660
OPERATING PROFIT ( LOSS) Financing costs – net
18
29