2017-07-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                      17 JULY 2017


Figure 2: Operating Revenue Position by Type (Excluding Rates)
 $14.0

 $12.0
                             YTD Budget ($m)
 $10.0
                             YTD Actual ($m)
  $8.0

  $6.0

  $4.0

  $2.0

  $0.0




                                                            Other
             Fees




                                                                        Grants
                         Dividend




                                                  Tax
                                       Interest




Operating Expenditure

Actual operating expenditure is currently 78% of full year budget. Detailed commentary for each
expenditure category appears below:
 Employee Costs – Actuals of $28.4m against budget ($28.8m) equates to 99% of budget.
   Variances primarily relate to under-expenditure in training costs in addition to capitalisation of
   salaries above estimates.
 Materials and Services – $37.3m (91%) of the $40.9m budget has been expended. The
   $3.6m variance relates to under-expenditure against special levies ($2.0m) and contract
   service budgets across a number of areas within Council. Total materials and services
   expenditure is expected to increase once accruals are finalised as part of end of financial
   year processing.
 Finance Costs – Actuals of $2.5m against budget ($2.6m) equates to 95% of budget resulting
   from reduced costs for interest on QTC loans ($113k) and bank merchant fees ($22k).
 Depreciation Expense – above budget by $89k or 0.5% pending finalisation of year-end asset
   capitalisation.
 Other Expenses – above budget by $31k or 36% due to additional infringement notices
   referred to SPER for collection (recovered once fines are collected).




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