The Gardiner Dairy Foundation’s Annual Report for the 2016-17 season has been released and the foundation is increasing its funds for industry projects.
Despite the financial input into industry projects for the 2015-16 season totalling $4927728 compared to $3934394 in 2016-17, the foundation’s interim chief executive officer Clive Noble was adamant that this was not a funding cut.
‘‘The report showed 15-16 as a comparator that Gardiner spent about $3.8million on industry projects and an additional $1.1million on one-off projects to assist the industry,’’ Dr Noble said.
‘‘This was drawn from Gardiner’s reserves.
‘‘In 16-17, we are spending $3.9million on projects.
‘‘In 17-18 we are anticipating $5million in total industry projects.
‘‘The increase in industry project funding will predominately go to RD&E and people and community development in 2017-18,’’ he said.
The project payments were broken up into five categories, with people development the only one to face a cut in 2016-17 from its 2015-16 allocation.
The foundation also recorded a $8480660 surplus, which was increased from $3531896 in the previous financial year.