NZNO goes into deficit due to less revenue and more spending

October 1, 2020

NZNO received $500,000 less membership revenue over 2019/20, as NZNO membership growth did not meet projections, NZNO corporate services manager David Woltman told the annual general meeting.

NZNO ended the financial year with an after-tax deficit of $842,000. That was the result of $700,000 less revenue and $480,000 more spending across a range of areas including consultancy, legal fees, staffing, travel and member insurance. Further investment gains adjusted the net deficit to $571,000.


A board overspend of $119,000 related mostly to legal fees of $130,000. The kaiwhakahaere budget overspend of $47,000 related to annual leave buyout and travel internationally and locally (including the United Nations forum on indigenous issues in New York and a Global Nurses’ United meeting in the Dominican Republic, also attended by the former president). A membership committee overspend of $7000 related to travel.


Overall members’ funds dropped to $12.6 million, a $570,000 drop. Colleges and sections funds remained stable at $1.692 million, a slight increase. The board’s hardship fund established in 2018 sat at $103,000. NZNO’s investment portfolio ended the year up $229,000 despite an earlier economic downturn.

Consultancy fees of $349,372 – nearly $100,000 over budget – included a strategic plan review ($16,000); district health board multi-employer collective agreement ($25,000); board elections ($42,000); digital membership database ($50,000), among other things, Woltman said in response to a member query.