Funding figures out

November 21, 2017

The Gardiner Dairy Foundation expects to increase its allocation for industry projects in 2017-18.

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.

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