Financial Performance Report – October 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                      13 NOVEMBER 2023


REPORT
Operating Revenue (YTD Benchmark 33.3%)
Council has received 46.0% ($60.9 million) of its operating revenue budget ($132.4 million).
Commentary on each revenue category is provided below.

 Category            Summary                   Comments
 Rates and Levies    $44.5 million (49.8%)        •   Waste utility charges $71.5k above YTD
                     of the annual budget of          budget (50.2% or $7.9 million of $15.7 million
                     $89.3 million has been           annual budget earned)
                     earned                       •   General rate (net of discounts) $175.7k below
                                                      YTD budget (49.7% or $33.6 million of $67.7
                                                      million annual budget earned)
 Fees and Charges    $4.2 million (37.2%) of      •   Property $43.5k above budget (56.8% or
                     the annual budget of             $406.9 of $716.1k annual budget earned)
                     $11.4 million has been       •   Building & Plumbing $69.5k below budget
                     earned                           (29.6% or $0.7 million of $2.5 million annual
                                                      budget earned)
                                                  •   Local Laws $69.4k below budget (37.9% or
                                                      $806.2k of $2.1 million annual budget earned)
                                                  •   Community Facilities $50.5k below budget
                                                      (20.9% or $84.9k of $406.3k annual budget
                                                      earned)
                                                  •   Development Assessment $39.1k below
                                                      budget (38.3% or $1.5 million of $3.8 million
                                                      annual budget earned)
 Sale of Goods and   $4.8 million (34.9%) of      •   Holiday Park revenue $377.6k above budget
 Services            the annual budget of             (42.2% or $1.6 million of $3.7 million annual
                     $13.9 million has been           budget earned). Any revenue upside will be
                     earned                           generally offset by a corresponding increase in
                                                      associated operating costs.
                                                  •   Community Facility fees $176.6k above
                                                      budget (37.6% or $1.2 million of $3.1 million
                                                      annual budget earned)
                                                  •   Waste Management fees $124.0k above
                                                      budget (29.7% or $2.0 million of $6.8 million
                                                      annual budget earned)
 Interest Received   $2.4 million (84.9%) of      •   Interest revenues are tracking above budget
                     the $2.8 million annual          with investment in higher yielding term
                     budget     has    been           deposits maximising the return on surplus
                     earned                           cash holdings.
 Other Revenue       $0.9 million (31.0%) of      •   Other revenue is in line         with   budget
                     the $2.9 million annual          expectations at this stage
                     budget has been
                     earned
 Operating Grants,   $1.8 million (29.6%) of      •   Operating Grants and subsidies is in line with
 Subsidies           the $6.2 million annual          budget expectations at this stage
                     budget has been              •   100% ($2.0 million) of the financial assistance
                     received                         grant was again prepaid in June 2023 and may
                                                      impact on Council’s 2023/24 final operating
                                                      position if the prepayment approach is
                                                      discontinued by the Australian government.
 Unitywater          On track                     •   Unitywater distributions are fixed each year so
 Distributions                                        there is limited budget variance risk