2015-02-09 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                9 FEBRUARY 2015


            Rates and Charges – Current YTD revenue has achieved 99% of the full year budget
             forecast, following the second rate run in January. The December quarter budget review will
             include an adjustment for prepaid rates (to reflect revised accounting treatment requested by
             the audit office), which was included as a revenue item in the original budget.
            Fees and Charges – Fees and charges earned totals 69.5% of the full year budget (compared
             to the YTD benchmark 58.3%). Development related activity, parking infringements, holiday
             park fees and search fees remain ahead of forecasts, although general waste disposal fees
             remain below forecast. All areas will be subject to review and possible adjustments to
             budgets in the next budget review.
            Interest Received – remains ahead of forecasts due to higher levels of cash available for
             investment (adjustment to be included as part of the December quarter budget review).
            Grants and Subsidies – will continue to be monitored with adjustments to be made as part of
             the December quarter budget review.
            Other Revenue – generally in accordance with budget predictions, with sale of waste
             recyclables continuing to show a favourable variance.


3.           Operating Expenses

YTD operating expenditure is currently 52.4% of full year budget spend compared to the YTD
benchmark of 58.3%, a positive variance of $2.6 million. Detailed commentary for significant items
appears below:

             14,000                                                                   120,000

             12,000                                                                   100,000

             10,000                                                                   80,000

              8,000                                                                   60,000
     $,000




              6,000                                                                   40,000

              4,000                                                                   20,000

              2,000                                                                   0

                 0                                                                    -20,000
                      Jul   Aug Sep   Oct   Nov Dec   Jan   Feb Mar   Apr May Jun

                  Budget        Actual       Accum Budget (RHS)        Accum Actual (RHS)

Note: Includes internal expenditure which nets off to revenue


            Employee Costs – YTD actuals are below budgeted figures, with variances to be considered
             with the December quarter budget review.
            Materials and Services – contract services expenditure is below budgeted levels, and will
             continue to be monitored against service delivery outcomes for possible review if required.
            Finance Costs – generally in accordance with budget, although the actual interest rate on
             2013/14 borrowings was less than originally forecast and adjustments will be included in the
             December quarter budget review.
            Depreciation expenses are currently running in accordance with the budget forecast,
             however, with revaluation impacts of road and bridge assets (undertaken in 2013/14) there
             will now be adjustments included in the December quarter budget review.
            Other Expenses – generally in accordance with budget.




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