2022-02-14 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                                               14 FEBRUARY 2022


 Category                    Summary                               Comments
                                                                   • Holiday Parks $444k above YTD budget (79%
                                                                      or $1.3 million of $1.67 million annual budget
                                                                      spent) – offset by additional revenue.
 Finance Costs               On track                              Nil
 Depreciation                On track                              Nil
 Other Expenses              On track                              Nil

Figure 3: Operating Expenditure Position by Type

$30.0
                                        $27.2
                                                  $26.3
$25.0                                                                                           YTD Budget ($m)
            $21.6 $20.8                                                                         YTD Actual ($m)
$20.0

$15.0
                                                                                                       $11.4 $11.4
$10.0

 $5.0
                                                                  $0.6                   $0.7                                        $0.1           $0.1
 $0.0
                                                                         Finance Costs
                                            Materials




                                                                                                           Depreciation
                 Employees




                                                                                                                                            Other
Tourism and Economic Development Investment Summary
Council resolved to report on a monthly basis, investment details for tourism and economic
development. Expenditure as at 31 January 2022 is outlined below, which includes the first
instalment payment to Tourism Noosa under the funding agreement.
 Expenditure                            Annual Budget                                    YTD Budget                         YTD       YTD
                                                  $m                                            $m                        Actual   Varianc
                                                                                                                             $m          e

 Payment to Tourism Noosa                                 $2.52                                   $1.26                    $1.26               -

 Economic Development                                     $0.96                                   $0.33                    $0.47    ($0.1)

 Total                                                    $3.48                                   $1.59                    $1.73    ($0.1)

The payment of the second instalment to Tourism Noosa for 2021-22 ($1.26m) is due in February
2022.
YTD Economic Development expenditure is below budget due to lower employee costs ($55k), as
the Branch Manager was acting as Director of Environment & Sustainable Development for the
first part of the financial year. This has also impacted timing for delivery of initiatives under the
Local Economic Plan ($83k).
Tourism and economic development activity is funded through the general rate, with 5.8% of the
annual general rate committed towards tourism and economic development. Should actual general
rate revenue fall below budget, this does not impact Council’s contractual commitment to fully fund
all tourism and economic development activity. Any general rate revenue shortfall is funded
through other general revenue sources to ensure all planned activities are undertaken in full.




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