2018-02-06 Planning & Environment Committee Agenda

PLANNING & ENVIRONMENT COMMITTEE MEETING AGENDA   6 FEBRUARY 2018




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PLANNING & ENVIRONMENT COMMITTEE MEETING AGENDA                                             6 FEBRUARY 2018

                                                                               60)          NOOSA
       NBRF ANNUAL REPORT 2016/17                                              (a =           A
                                                                               0: MOOS eB i
                                                                                 ssa

       2. FINANCIAL HEADLINES

       As mentioned, full financial details are included in the Auditors report, which will be circulated with this
       report. It should be noted that the Auditor consolidates the P&L and Balance sheet for NBRF into one set
       of accounts.

       For the management of NBRF we look at individual project allocations and the detailed budgets of the
       operational expenses. Therefore, we control expenditure at the detailed activity level. In 2016/17 we
       started a series of improvements to these systems which are proving very beneficial both for control and
       for Board involvement.

       Using the Auditors figures:-
       INCOME
       In summary, NBPF had a total income of $277,032.
       $168,554 was provided by Council from the Environmental Levy in line with the first round of projects.
       $104,091 was provided by Council for operational expenses which represented a saving against the
       budget of $140,000.
       $4,387 interest was received from deposits.
       EXPENDITURE
       The Auditor shows expenses as $308,638 giving a relatively small reduction in Net Equity of $31,606. This
       follows a significant increase of $112,932 in 2015/16.
       Of the total of $308,638, payments to projects in the first grants round totaled $202,645.
       This gives operational costs of $105,933.
       Of this $86,852 are people and consultancy costs, and $19,141 are other expenses.
       During 2016/17, we started the preparation of the 10 year periodic review, and new strategic initiatives.
       This involved an additional level of consulting fees compared to 2015/16 as was highlighted in a May 17
       report to Council.
       It should be noted that during the year we moved away from salaried staff to a full use of consultants/
       contractors. In this way, we believe we can be more effective using a small part of a specific expert rather
       than employing one generalist. We see this as an important policy for the future.
       Of the other expenses, the principal items are accounting/bookkeeping, audit fees, and insurance. Total
       expenses has remained level at around $20,000 per annum.
       The full detail of the operational expenses is shown on page 14 of the Auditors Report.

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