So I decided to do a line by line expenses report forecast, and this is what I came up with:
All number values in thousands (1,000). Note: Contracted GDC was calculated with 2017-8-9 for 2020-1 projections, and 2017-8 for 2019 projection. Same with Capex & Invest. The reason for this was to avoid a negative number outcome (meaning negative expenses in an expense report).
| 2015 | 2016 | 2017 | 2018 | 2019 | P2020 | P2021 | P2020 Subtotals | P2021 Subtotals | Projected 2019 | P2019 Diff | Salaries & RC | 21011 | 24684 | 29992 | 33797 | 39714 | 43795.3 | 48447.2 | 43795.3 | 48447.2 | 38287.5 | -1426.5 | RoW | 11185 | 15364 | 18761 | 22009 | 24684 | 28493.5 | 31857.8 | | | 25797 | 1113 | US | 9826 | 9320 | 11231 | 11788 | 15030 | 15301.8 | 16589.4 | | | 12490.5 | -2539.5 | Overheads | 5910 | 5861 | 6541 | 7600 | 8915 | 9290.1 | 10065 | 9290.1 | 10065 | 7915.5 | -999.5 | RoW | 2910 | 3321 | 3506 | 3955 | 5104 | 5265.8 | 5768 | | | 4253 | -851 | US | 3000 | 2540 | 3035 | 3645 | 3811 | 4024.3 | 4297 | | | 3662.5 | -148.5 | Contracted GDC | 14103 | 7554 | 3313 | 3564 | 5697 | 6575.3 | 7767.3 | 6575.3 | 7767.3 | 3815 | -1882 | RoW | 8178 | 5491 | 3007 | 3261 | 4239 | 4734.3 | 5350.3 | | | 3515 | -724 | US | 5925 | 2063 | 306 | 303 | 1458 | 1841 | 2417 | | | 300 | -1158 | POCEM | 6115 | 4792 | 7106 | 9032 | 11404 | 12135.2 | 13617 | 12135.2 | 13617 | 9527.5 | -1876.5 | RoW | 1151 | 965 | 1575 | 1778 | 3890 | 3759.1 | 4388.2 | | | 1990 | -1900 | US | 4964 | 3827 | 5531 | 7254 | 7514 | 8376.1 | 9228.8 | | | 7537.5 | 23.5 | General & Admin | 646 | 706 | 826 | 1317 | 2272 | 2312.3 | 2698.6 | 2312.3 | 2698.6 | 1407 | -865 | RoW | 126 | 380 | 78 | 279 | 316 | 319.5 | 347.4 | | | 255 | -61 | US | 520 | 326 | 748 | 1038 | 1956 | 1992.8 | 2351.2 | | | 1152 | -804 | Sub-Total | 47785 | 43597 | 47778 | 55310 | 68002 | 68138.5 | 77333.0 | 74108.2 | 82595.1 | 60952.5 | -7049.5 | Capex & Invest | 2664 | 1419 | 1087 | 857 | 2429 | 2799.7 | 3470.7 | 2799.7 | 3470.7 | 627 | -1802 | RoW | 982 | 827 | 870 | 454 | 2036 | 2286 | 2869 | | | 38 | -1998 | US | 1682 | 592 | 217 | 403 | 393 | 513.7 | 601.7 | | | 589 | 196 | Total Cost + Capex | 50449 | 45016 | 48865 | 56167 | 70431 | 69520.1 | 79556.8 | 76907.9 | 86065.8 | 61579.5 | -8851.5 |
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So, the line by line seems to be a lot more kinder to CIG, but also a lot more off, than the straight up annual total expenses prediction...
The line-by-line total+ "projected" 2019 expenses was -8,852k under the actual 2019 reported. That's a 0.8743 under-reporting of actual, or rather a 15.8%/0.1575% margin of error. On average, the difference between the line-by-line predicted expenses of 2019 and the actual 2019 reported was a 24% under-reporting by the model. Here's a chart of the distance from 1 each calculation was:
View attachment 202294
For comparison, the straight up EoY total+ 2019 expenses "projection" was 72,991k, or +2,560k over the the actual 2019 reported. That's a 0.045582118 difference, o
r 5% rounded up.
What does this mean? As best I can tell, this means that there are more "event" based expenses that contribute to CIG's overall expenses, than there are gradual "linear" expenses.
We'll have to wait and see what events cost CIG money in 2020... next year.