2019-03-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                         18 MARCH 2019


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



REPORT
Operating Revenue (YTD Benchmark 67%)
Council has received 92% ($88.0 million) of its operating revenue budget ($96.0 million).
Commentary on each revenue category is provided below.

 Category        Summary                          Comments
 Rates and       $66.5 million (100%) of the           Overall, rates and levies earned are slightly below
 Levies          annual budget of $66.6                 YTD budget, with general rates $58k below budget
                 million has been earned                and Tourism Levy $24k below budget.
 Fees and        $4.2 million (76%) of the $5.5        Development related fees $194k above YTD
 Charges         million annual budget has              budget (84% or $952k of $1.1m budget earned) –
                 been earned                            offset by development appeal legal costs above
                                                        YTD budget
                                                       Building application and search fees $168k above
                                                        YTD budget (98% or $523k of $534k budget
                                                        earned)
                                                       Local laws fees $183k above YTD budget (92% or
                                                        $1.1 million of $1.2 million budget earned)
                                                       Lions Park holiday period parking revenue $81k
                                                        above budget (202% or $121k of $40k budget
                                                        earned). Partially offset by additional costs
                                                       Cemetery fees $56k above YTD budget (92% or
                                                        $203k of $222k budget earned)
                                                       Waste management temporary bin services $52k
                                                        above YTD budget (277% or $68k of $16k budget
                                                        earned)
 Sale of Goods   $6.4 million (73%) of the $8.8        Holiday parks $194k above YTD budget (74% or
 and Services    million budget has been                $2.1m of $2.9m budget earned)
                 received                              Eumundi Road landfill disposal charges and
                                                        recyclable sales $164k above YTD budget (73% or
                                                        $2.1m of $2.9m budget earned)
 Interest        $3.4 million (76%) of the $4.4        Investment revenue $177k above YTD budget
 Received        million annual budget has              (83% or $1.2 million of $1.4 million budget earned)
                 been earned                           Interest on overdue rates and charges $59k above
                                                        YTD budget (81% or $325k of $400k budget
                                                        earned)
 Dividend and    On track                         Nil
 Tax
 Other           $1.8 million (75%) of the $2.4        Works Operations internal plant hire recoveries
 Revenue         million budget has been                $716k (no budget) – offset by internal hire charges
                 earned                                Waste Management internal recoveries for landfill
                                                        disposal $50k above YTD budget (318% or $64k of
                                                        $20k budget earned)
                                                       Local laws SPER penalty recoveries $31k above
                                                        YTD budget (94% or $105k of $112k budget
                                                        earned)




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