2018-08-13 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                         13 AUGUST 2018


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 13 August 2018 outlining July 2018 year to date financial performance against
budget.


REPORT
Operating Revenue (YTD Benchmark 8.3%)
Council has received 40% ($38.0 million) of its operating revenue budget ($95.7 million).
Commentary on each revenue category is provided below.

Category           Summary                          Comments
Rates and Levies   $34.2 million (51%) of the           Overall, rates and levies earned are in line with
                   annual budget of $66.6                 budget expectations
                   million has been earned
Fees and           $1.3 million (24%) of the $5.5       Development related fees $32k above YTD
Charges            million annual budget has              budget (11% or $127k of $1.1m budget earned)
                   been earned                          Building application and search fees $21k above
                                                          YTD budget (12% or $66k of $533k budget
                                                          earned)
                                                        Community land use applications and permits
                                                          $20k above YTD budget (25% or $95k of $375k
                                                          budget earned)
                                                        Cemetery fees $16k above YTD budget (16% or
                                                          $35k of $221k budget earned)
Sale of Goods      $783k (9%) of the $8.7               Landfill disposal charges $48k above YTD
and Services       million budget has been                budget (10% or $286k of $2.9m budget earned)
                   received                             Noosa Aquatic Centre $20k above YTD budget
                                                          (6% or $111k of the $1.7m budget earned)
                                                        Holiday parks $26k above YTD budget (9% or
                                                          $253k of $2.9m budget earned)
Interest           $789k (19%) of the $4.3              Investment revenue $51k above YTD budget
Received           million annual budget has              (8% or $104k of $1.25m budget earned)
                   been earned                          Interest on overdue rates $30k below YTD
                                                          budget (1% or $3k of $400k budget earned)
Dividend and       On track                         Nil
Tax
Other Revenue      $342k (15%) of the $2.4              Lease management income (primarily
                   million budget has been                telecommunication leasing) $17k above YTD
                   earned                                 budget (21% or $29k of $139k budget earned)
                                                        The J revenue (staff recoveries, booking
                                                          commissions) $73k above YTD budget (154% or
                                                          $187k of $121k budget earned)
                                                        Civil operations internal recoveries for works and
                                                          quarry material $86k (no budget)
Operating          $485k (9%) of the $5.2               Operating grants are in line with budget
Grants,            million budget has been                expectations at this stage. 50% or $1 million of
Subsidies          received                               the financial assistance grant was again prepaid
                                                          in June 2018 and may impact on Council’s
                                                          2018/19 final operating position if the
                                                          prepayment approach is discontinued by the
                                                          Australian government.


                                                                                             Page 40 of 48