01 Financial Performance Report - Jul 2023

GENERAL COMMITTEE MEETING                                                          14 AUGUST 2023


 Category             Summary                       Comments
                                                          rate rises will impact finance costs on new
                                                          loan borrowings.
 Depreciation         Currently on track            Nil
 Other Expenses       Currently on track            Nil




Figure 3: Operating Expenditure Position by Type




Tourism and Economic Development Investment Summary
Council resolved to report on a monthly basis, investment details for tourism and economic
development. Expenditure at 31 July 2023 is outlined below:
 Expenditure                    YTD Budget         YTD Actual         Variance
                                       $m                 $m               $m
 Payment    to    Tourism                                                     -
                                       $1.26              $1.26
 Noosa
 Economic Development                  $0.08              $0.07           $0.01

 Total                                 $1.34              $1.33           $0.01


The first instalment payable under the Tourism Noosa agreement for the 2023-24 financial year was
made in July.

Tourism and economic development activity is funded through the general rate, with 5.8% of the
annual general rate committed towards tourism and economic development. Should actual general
rate revenue fall below budget, this does not impact Council’s contractual commitment to fully fund
its contribution to Tourism Noosa and all associated tourism activity. Any general rate revenue
shortfall is funded through other general revenue sources to ensure all planned activities are
undertaken in full.

Capital Revenue
Full Year Capital revenue of $0.1 million received comprises cash contributions from developers
($41.2k) and capital grants ($39.6k). Note that the timing of capital grant receipts are generally
dependent on the timing of grant conditions and also capital delivery performance, and that the
timing of the receipt of developer contributions (both cash and contributed) is unpredictable.