2019-02-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                    18 FEBRUARY 2019


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 18 February 2019 outlining January 2019 year to date financial performance
against budget.


REPORT
Operating Revenue (YTD Benchmark 58.3%)
Council has received 90% ($86.7 million) of its operating revenue budget ($96.0 million).
Commentary on each revenue category is provided below.

Category        Summary                          Comments
Rates and       $67.4 million (101%) of the          Overall, rates and levies earned are slightly below
Levies          annual budget of $66.6                 YTD budget, with waste charges $99k above
                million has been earned                budget partially offset by general rates $66k below
                                                       YTD budget. The recognition of discounts in
                                                       February will reduce total rates and levies revenue
                                                       back to full year budget.
Fees and        $4.2 million (76%) of the $5.5       Development related fees $163k above YTD budget
Charges         million annual budget has              (73% or $826k of $1.1m budget earned) – offset by
                been earned                            development appeal legal costs above YTD budget
                                                     Local laws fees $149k above YTD budget (84% or
                                                       $987k of $1.2 million budget earned)
                                                     Building application and search fees $133k above
                                                       YTD budget (83% or $444k of $534k budget
                                                       earned)
                                                     Cemetery fees $51k above YTD budget (81% or
                                                       $180k of $222k budget earned)
                                                     Waste management temporary bin services $53k
                                                       above YTD budget (272% or $67k of $25k budget
                                                       earned)
                                                     Community land use permits $31k above YTD
                                                       budget (73% or $273k of $375k budget earned)
Sale of Goods   $5.7 million (65%) of the $8.8       Holiday parks $196k above YTD budget (67% or
and Services    million budget has been                $1.9m of $2.9m budget earned)
                received                             Eumundi Road landfill disposal charges and
                                                       recyclable sales $137k above YTD budget (64% or
                                                       $1.9m of $3.1m budget earned)
Interest        $3.1 million (71%) of the $4.4       Investment revenue $125k above YTD budget (72%
Received        million annual budget has              or $1.0 million of $1.4 million budget earned)
                been earned                          Interest on overdue rates and charges $18k above
                                                       YTD budget (63% or $252k of $400k budget
                                                       earned)
Dividend and    On track                         Nil
Tax
Other           $1.6 million (69%) of the $2.4       Works Operations internal plant hire recoveries
Revenue         million budget has been                $643k (no budget) – offset by internal hire charges
                earned                               Waste Management internal recoveries for landfill
                                                       disposal $42k above YTD budget (266% or $53k of
                                                       $20k budget earned)
                                                     Local laws SPER penalty recoveries $25k over
                                                       budget (81% or $90k of $112k budget earned)


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