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Board financial statement

Remuneration of Board members is set by the Remuneration Tribunal. NOPSEMA funds the remuneration of the Board and its members and the cost of travel to meetings. NOPSEMA also provides secretariat support for board meetings. The Board does not employ staff and does not own or lease physical assets.

Board expenditure in 2018–19 in comparison to NOPSEMA’s 2018–19 budget allocation and expenditure in 2017–18 is set out in the following table. The increase in expenditure compared to 2017–18 is as a result of two additional Board members being appointed by the Minister in January 2019.

Expenditure Items

Annual Budget 2018–19

Actuals 2018–19

Variance Favourable/ (Unfavourable)

Last Year’s Actuals

2017–18

$'000

$'000

$'000

$'000

Members remuneration

303

295

8

254

Travel and Accomodation

14

17

3

10

Other

1

1

0

1

Total

318

313

5

265