2021-05-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                                    17 MAY 2021


 Category              Summary                                       Comments
                                                                        financial year will be offset in part by additional
                                                                        variable operating costs
                                                                      Waste management disposal fees and sale of
                                                                        recoverable materials $346k above YTD budget
                                                                        (91% or $4.0 million of $4.4 million budget
                                                                        earned)
 Interest              $683k (79%) of the $870k                           Interest revenues on cash invested will need
 Received              annual budget has been                              ongoing monitoring given further recent interest
                       earned                                              rate cuts and impacts on term deposit / cash
                                                                           fund rates
 Unitywater            On track                                      Nil
 Dividend and
 Tax
 Other Revenue         $2.02 million (98%) of the                         Recoupment of Unitywater charges from
                       $2.06 million budget has                            lessees $140k above YTD budget - offset by
                       been earned                                         additional utility charge expenses
                                                                          Commercial lease revenue $148k above YTD
                                                                           budget (100% or $918k of $919k budget
                                                                           earned)
 Operating             $4.3 million (69%) of the $6.2                     50% ($1.2 million) of the financial assistance
 Grants,               million budget has been                             grant was prepaid in May 2020 and may impact
 Subsidies             received                                            on Council’s 2020/21 final operating position if
                                                                           the prepayment approach is discontinued by the
                                                                           Australian government
                                                                          All operating grants are in line with budget
                                                                           expectations at this stage
 Unitywater            On track                                           Unitywater distributions are fixed each year so
 Distributions                                                             there is little budget variance risk

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

$12.0
                                                   $9.6                        YTD Budget ($m)
$10.0
                                            $8.7                               YTD Actual ($m)
  $8.0
         $5.9 $6.3
  $6.0
                                                                                       $4.3 $4.3
                                                                                                   $3.7 $3.7
  $4.0

  $2.0                               $0.7                 $1.0 $1.2
                       $0.7                                                $0.7 $0.8

  $0.0
             Charges




                                                           Income




                                                                               Other
                                             Goods &




                                                                                          Grants




                                                                                                     Unitywater
                                             Services
                                             Sales of




                                                            Rental
                          Interest
             Fees &




                                                                                                      Share of




Operating Expenditure (YTD Benchmark 83.3%)
Actual operating expenditure is currently 78% ($79.8 million) of full year budget ($102.1 million).
Detailed commentary for each expenditure category is provided below.




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