06 Financial Performance Report - Dec 2021

GENERAL COMMITTEE MEETING AGENDA                                                                  17 JANUARY 2022


 Category               Summary                     Comments
 Interest               $376k (56%) of the          •      Interest revenues on cash invested will continue to be
 Received               $670k annual budget                monitored given low interest rates and impacts on term
                        has been earned                    deposit / cash fund rate returns
 Other Revenue          $1.3m (43%) of the          •      Other revenue is in line with budget expectations at this
                        $3.1 million budget                stage
                        has been earned
 Operating              $3.0 million (53%) of       •      Operating grants are in line with budget expectations
 Grants,                the $5.8 million budget            at this stage.
 Subsidies              has been received           •      50% ($1.2 million) of the financial assistance grant was
                                                           again prepaid in June 2021 and may impact on
                                                           Council’s 2021/22 final operating position if the
                                                           prepayment approach is discontinued by the
                                                           Australian government.
 Unitywater             On track                    •      Unitywater distributions are fixed each year so little
 Distributions                                             budget variance risk

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

  $7.0
                                             $6.5
                                                                           YTD Budget ($m)
  $6.0
                 $5.2                                                      YTD Actual ($m)
                                      $5.0
  $5.0
         $3.7
  $4.0
                                                                                    $2.9 $3.1
  $3.0
                                                                                                $1.9 $1.9
  $2.0
                                                    $1.0 $1.1
  $1.0                                                                $0.6 $0.5
                        $0.4 $0.4

  $0.0
                                                                                                  Unitywater
                                                        Income




                                                                          Other




                                                                                      Grants
             Charges




                                       Goods &
                                       Services
                                       Sales of




                                                         Rental
                           Interest
             Fees &




                                                                                                   Share of




Operating Expenditure (YTD Benchmark 50.0%)
Actual operating expenditure is currently 48% ($51.3 million) of full year budget ($107.9 million).
Detailed commentary for each expenditure category is provided below.

 Category               Summary                                   Comments
 Employee Costs         $18.2 million (48%) of the                •   Under expenditure for permanent staff salaries
                        annual budget of $37.7                        and wages ($1.6 million) partially offset by
                        million has been expended                     additional spend on casual staff and external
                                                                      labour hire ($933k)
 Materials and          $22.7 million (46%) of the                •   Waste Management $357k below YTD budget
 Services               $49.3 million annual budget                   (46% or $5.1 million of $11.1 million budget
                        has been expended.                            spent)
                                                                  •   Mayor and Councillor Support costs $77k above
                                                                      YTD budget ($81k of $8k budget spent) –
                                                                      subscription for Council joining the SEQ Council
                                                                      of Mayors