2016-09-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                         12 SEPTEMBER 2016


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 12 September 2016 providing the August YTD monthly financial performance
report for the 2016/17 financial year.


REPORT
Recurrent Revenue (YTD Benchmark 16.7%)

Council has recognised 41% ($36.2 million) of its recurrent revenue budget of $89 million as at
the end of August 2016. Commentary on each recurrent revenue category is provided below:
 Rates and Levies – $31.1m (50%) of the annual budget of $62.3m has been recorded.
    General rates are at forecast levels and waste collection charges $62k below YTD budget
    due to a reduction in commercial services. Discounts for early payments and pensioner
    rebates provided for the first half-year levy reflect YTD budget.
 Fees and Charges – Fees and charges earned ($1.5m) totals 33% of the full year forecast.
   Licences & permits ($27k), building & development fees ($36k), and property searches fees
   ($25k) all exceed YTD budget.
 Interest Received – Interest from investments is currently $65k ahead of YTD forecast levels
   due to a higher opening cash balance than originally estimated. Income from rate arrears
   interest explains the remaining variance of $4k.
 Dividend and Tax – Dividends and the payment of tax equivalent from Unitywater are in line
   with YTD budget.
 Other Revenue – Other revenue earned ($1.8m) totals 33% of the full year forecast. Sale of
   Recyclables ($64k ahead), Ringtail Quarry auction proceeds ($47k), Lease revenue ($11k),
   Caravan Parks ($52k) and Noosa Aquatic Centre fees ($30k) are all above YTD budget, with
   tip fees ($15k) marginally below YTD budget.
 Grants and Subsidies – Receipts for operational grants are in line with YTD budget.

Figure 2: Recurrent Revenue Position by Type (Excluding Rates)
 $2.0
 $1.8
                                 YTD Budget ($m)
 $1.6
                                 YTD Actual ($m)
 $1.4
 $1.2
 $1.0
 $0.8
 $0.6
 $0.4
 $0.2
 $0.0
                                                     Other




                                                                Grants
           Fees




                      Dividend




                                              Tax
                                   Interest




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