Financial Performance Report – February 2025 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                                17 MARCH 2025


 Category           Summary                 Comments
                                                  prepaying part or all of the grant in the preceding
                                                  year. This prepayment approach had been
                                                  consistent over the past 7 years.
                                               • Council has received notification of the approved
                                                  FY 2024/25 financial assistance grant allocation
                                                  which is less than budgeted. As such there is
                                                  potential for this to impact the FY 24/25 operating
                                                  position if payment of future years allocations are
                                                  not paid in the preceding year.

 Unitywater         On track                       •    Unitywater distributions are fixed each year so
 Distributions                                          there is limited budget variance risk

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




Operating Expenditure (YTD Benchmark 66.7%)
Actual operating expenditure is currently 62.9% ($88.8 million) of the full year budget ($141.1
million). Detailed commentary for each expenditure category is provided below.

 Category           Summary                            Comments
 Employee Costs     $33.3 million (62.7%) of the          •   Expenditure for permanent staff salaries
                    annual budget of $53.1                    and wages underspent ($1.1 million) due to
                    million has been expended                 position vacancies and recoupment of YTD
                                                              vacancy dividend. This underspend is
                                                              offset by additional spend on casual staff
                                                              and external labour hire ($1.1 million).
                                                          •   Training costs are ahead of forecast at this
                                                              point in the year (82.4% or $276.5k of
                                                              $386.1k annual budget spent)
 Materials and      $39.4 million (62.7%) of the          •   Civil Operations $430.6k above budget
 Services           $62.8 million annual budget               (70.3% or $6.7 million of $9.5 million annual
                    has been expended.                        budget spent)
                                                          •   Holiday Parks $108.8k above budget
                                                              (71.3% or $1.8 million of $2.6 million annual
                                                              budget spent) offset by additional revenue
                                                          •   Disaster Management $70.5k above budget
                                                              (115.8% or $120.5k of $104.0k annual
                                                              budget spent)
                                                          •   Transport levy $92.2k above YTD budget
                                                              (45.9% or $442.2k of $962.0k annual
                                                              budget spent) – timing issue only, unspent
                                                              levy funds are held in reserve for future use.