the increase in revenues and decrease in costs, to just under AUD 1 million to AU$991,000. The APNIC EC took a mid-year review of the budget. Our initial budget presented to the EC was for a break-even budget as opposed to the AUD 200,000 surplus. At our face-to-face meeting in December we made a number of changes to the budget and postponed the enterprise resource management project that Richard talked about and we deferred the staff in-house general counsel position.  The revised budget was then a surplus of AUD 200,000. At the time, we noted the uncertainty of IPv4 exhaustion on revenues and just a general conservative nature that the APNIC EC and I as treasurer are keen to take. We postponed both of those until the mid-year review and the great news was that revenues are up and costs down, so we could progress with both those projects. I'm telling you this to show that the APNIC EC is taking a diligent goal to financial management of APNIC in what are certainly uncertain times ahead. The balance sheet position, there are a lot of current assets, which is cash, cash equivalents, investment grade investments, and non-cash assets, which is predominantly made up of obviously the APNIC offices in Brisbane. This graph which we keep showing you at every meeting, the green section is the purchase at cost of the APNIC building.  That building is expected to increase in value over time, however we keep that on the books at