I think a lot can be done on this. I like the way you use Google Adsense on this and your favicon is pretty good too.
I think you can do much better with the banner plus it is bad quality. Instead of using Joomla's standard template; i suggest you look around for other templates that would go with the site or if you wanted, make your own. Your newsflash box is empty so you will need to fix that too so i guess a lot of work will need to be done overall.