2021-07-15 Ordinary Meeting Agenda

ORDINARY MEETING AGENDA                                                                                                 15 JULY 2021


 Category                   Summary                                         Comments
                                                                             Works operations $242k below annual budget
                                                                               (92% or $2.8 million of $3.1 million spent)
                                                                             Fleet fuel, tyres and maintenance costs $230k
                                                                               below annual budget (83% or $1.1 million of $1.3
                                                                               million budget spent)
                                                                             Revenue services $233k below annual budget
                                                                               (53% or $248k of $471k budget spent)
                                                                             Council buildings, facilities and amenities
                                                                               maintenance costs $218k below annual budget
                                                                               (80% or $890k of $1.1 million spent)
                                                                             Holiday parks $243k above annual budget (117%
                                                                               or $1.7 million of $1.4 million budget spent) –
                                                                               relating to variable operating costs (including
                                                                               commissions) offset by additional revenues
 Finance Costs              $3.8 million (247%) of the                          The one-off early repayment adjustment to
                            $1.5 million annual budget                           refinance QTC loan borrowings was $2.5 million,
                            has been expended                                    which has been capitalised as additional loan
                                                                                 borrowings. This was partially offset with interest
                                                                                 savings of $242k achieved through the
                                                                                 refinancing of loans
 Depreciation               $19.0 million (100%) of the                         Will be updated for the actual 2019/20 position
                            $19.0 million annual budget                          once the financial statements are finalised.
                            has been expended
 Other Expenses             $246k (130%) of the $189k                           Local Law infringement recovery costs $53k
                            annual budget has been                               above annual budget (145% or $171k of $117k
                            expended                                             budget spent)

Figure 3: Operating Expenditure Position by Type

$50.0                               $46.6
$45.0                                         $41.9
                                                                                YTD Budget ($m)
$40.0       $34.9 $34.5
$35.0                                                                           YTD Actual ($m)
$30.0
$25.0
                                                                                        $19.0 $19.0
$20.0
$15.0
$10.0
                                                                        $3.8
 $5.0                                                    $1.5                                              $0.2 $0.2
 $0.0
                                                            Finance Costs
                                        Materials




                                                                                            Depreciation
                Employees




                                                                                                               Other




Capital Revenue
Annual capital revenue of $14.2 million received comprises cash as asset contributions from
developers ($3.1 million) as well as capital grants ($11.2 million). 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.




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