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The Pichi Richi Railway’s main sources of income are from membership subscriptions, scheduled train services, chartered trains and special hires, souvenir shop trading and catering / refreshments. Pichi Richi Railway currently has no paid employees, and is therefore reliant on its dedicated volunteers to operate trains, to sell souvenirs and refreshments, to undertake maintenance and govern the Society.
The Society’s financial year runs from 1st January to 31st December. The following information is based on 2008 Audited Financial Statements: | Income | $’000 | % | | Net Train Revenue (timetabled trains and special hires) | 236 | 52.0 | | Grants (from State and Local Government) | 40 | 8.8 | | Souvenir Department Profits | 27 | 5.9 | | Membership Subscriptions | 19 | 4.2 | | Refreshments / Catering Profits | 11 | 2.2 | | Donations & Bequests | 17 | 3.8 | | Bank Interest | 21 | 4.6 | | Transfers from Appeal Funds and Provisions | 82 | 18.1 | | Miscellaneous / Other | 1 | 0.1 | | Rounding | | 0.3 | | Total Income | 454 | 100.0 |
| Expenditure | $’000 | % | | Traffic, Locomotives, Carriages, Trackwork, Buildings, Services & Grounds (prior to $50k Trackwork Provision) | 278 | 61.8 | | Insurances | 25 | 5.6 | | Marketing | 43 | 9.6 | | Depreciation of Fixed Assets | 35 | 7.8 | | Operating Costs (Quorn & Port Augusta) | 33 | 7.4 | | Administration & Bank Charges | 27 | 6.0 | | Members Services | 7 | 1.6 | | Miscellaneous / Other | 2 | 0.1 | | Rounding | | 0.1 | | Total Expenditure | 450 | 100.0 |
| | $’000 | | Gross Surplus | 4 | | Less transfer of Donations, Appeals and Bequests | 36 | | Surplus of Expenditure over Income for the year | 32 |
As the Pichi Richi Railway Preservation Society Inc is a not-for-profit organisation, all proceeds go back into restoration activities and development of the Railway as an Operating Museum. The Society is an approved Deductible Gift Register organisation, thus all donations to the Society are tax deductible. Contact the Secretary if you wish to make a donation (email:
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). Over the years there have been a variety of grants from Local, State and Federal Government sources for specific development projects, including: - Purchase of mechanised sleeper replacement equipment;
- Track rehabilitation from Woolshed Flat to Stirling North;
- Track extension from Stirling North to Port Augusta and associated works; and
- Restoration of ex-Commonwealth Railways steam locomotive NM 25 and refurbishment of 3 NABPa carriages.
Local and State Government have also assisted significantly with easing the burden of public liability insurance premiums in recent years, with premiums returning to more affordable levels of late. Incidentally, the Society has never lodged a claim since its formation in 1973. In addition, Local and State Government have provided funding to help develop professional marketing of the Pichi Richi Railway, which is currently performed by a part-time contractor. Most of this assistance has been provided by the South Australian Tourism Commission. Local Government funding has been provided by both the Flinders Ranges Council and the Port Augusta Council. Additionally certain project funding has been provided by the Northern Regional Development Board. Corporate assistance has also been received, though this has been somewhat ad-hoc. Central TV (i.e. Spencer Gulf Telecasters) are currently sponsoring the Pichi Richi Railway through in-kind support while The Savings Bank of South Australia (later becoming part of BankSA) contributed funds some years ago to help restore 75 Class Diesel Railcar No. 106. Bequests have also been a valuable source of support. Through Quarterly Notices, recipients of the Society’s quarterly journal, the Pichi Richi Patter have been reminded to remember Pichi Richi Railway in their Will, as follows: Your bequest to the Pichi Richi Railway Preservation Society Incorporated can help to maintain our railway for future generations to share and experience. Your bequest could be a specific sum or a percentage of your estate or property items. A suitable form of bequest is: “I bequeath the sum of $............ to the Pichi Richi Railway Preservation Society Incorporated.” If there is a specific project that you would like your name associated with, you may specify this also.
Non-members are welcome to use the above pro-forma wording to make a bequest to the Society. Through the Souvenir Shop the Society sells sleeper certificates for a variety of denominations. They don’t necessarily represent the actual cost of each sleeper and associated transport, which is around $40 each. However the Sleeper Certificates have been a useful form of fund-raising over the years, and are available for purchase from the Souvenir Shop in Quorn Railway Station. |
