The 2017-2018 Gold Coast report has revealed a missed target, according to the Gold Coast Bulletin ©Gold Coast 2018

Gold Coast 2018 fell short of its own service standard goal for commercial revenue and target market engagement, it has been reported.

The annual report for 2017-2018 revealed that the level of target market engagement in the Games was 57 per cent, according to the Gold Coast Bulletin. 

This is eight per cent lower than the target of 65 per cent.

The report did, however, say that the Games in the Australian city had been delivered "on time and on budget".

It also says that the Games fell short of their total commercial revenue target by four per cent, it is claimed.

The Games reportedly recorded commercial revenue of AUD$225 million (£125 million/$163 million/€140 million) for the extensive Games period from January 1 in 2012 to June 30 in 2018.

Gold Coast 2018 reported a net surplus of AUD$37.314 million (£20.5 million/$26 million/€23 million) for the same period.

They have announced that they expect to return much of this back to the Queensland State Government.

"Subject to finalisation of outstanding contracts during 2018-2019, GOLDOC (the Gold Coast 2018 Organising Committee) expects to return in excess of AUD$35 million (£19 million/$25 million/€22 million) to the Queensland Government," the report states, according to the Gold Coast Bulletin.

"This is in addition to GOLDOC not requiring utilisation of the state held contingency fund of approximately AUD$100 million (£55 million/$72 million/€62 million)."

Australia topped the medal table at the 2018 Gold Coast Commonwealth Games ©Getty Images
Australia topped the medal table at the 2018 Gold Coast Commonwealth Games ©Getty Images

According to the report, the majority of the total Games income came from grants and other contributions, rather than commercial revenue.

The report also reveals that more than 1.2 million tickets were sold and issued, with more than a million sold in New South Wales and Queensland.

Of the 274 ticketed sessions, the report says that 215 were sold out as 98 per cent of available tickets were sold.

In terms of staff, the document reports that Gold Coast 2018 had 1,800 employees at the peak of its staff numbers.

A total of 500 of those were in short-term, operational roles in the final three months before the Games began on April 4. 

A group of 900 staff were released at the end of the Games on April 15, and only 44 staff remained on the payroll by June 30.

Only one staffer will be on the books from October 2018 as the Office of the Commonwealth Games oversees the dissolution of the Organising Committee by December 31.