2017-12-12 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                            12 DECEMBER 2017


Figure 2: Operating Expenditure Position by Type
     Depreciation




                                       YTD Actual ($m)
  Finance
   Costs




                                       YTD Budget ($m)
     Materials
     Employees




                    $0   $10   $20         $30           $40        $50



Capital Revenue

Recorded capital revenue for Council totalled $9.8m against a budget of $6.5m. A breakdown of
capital revenue items appears in the table below:

Table 3: Capital Revenue Performance by Type
 Revenue Type                               Budget       Actual     Variance
                                               $m           $m            $m
 Developer Cash Contributions                 $1.7         $3.1          $1.4
 Contributed Assets                             $-         $3.2          $3.2
 Grants                                       $4.8         $3.2        ($1.6)
 Investment Property Revaluation                $-         $0.3          $0.3
 Total                                        $6.5         $9.8          $3.3
Note: Some rounding


Capital revenue associated with grants for capital works was $1.6m below budget due to
Queensland government funding being tied to projects carrying over to 2017/18 (i.e. Hilton
Terrace intersection, various cycle related projects), roads to recovery funding received below
forecast, and TIDS funding being deferred for use in 2017/18.

The investment property valuation increase relates to the annual valuation required for the
Sunrise Shops which is based on a cash flow valuation methodology to comply with accounting
standards. As this is a non-cash movement it is not budgeted nor anticipated each year.

Capital Expenditure

Actual capital expenditure of $20.5m achieved 83% of the total budget of $24.6m. $3.5m of
works in progress were carried over to the current 2017/18 budget.

Council’s achieved an asset sustainability ratio for the 2015/16 year of 90.6% (when including the
replacement of plant and fleet assets), above the state government hurdle of 90%.




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