Financial Performance Report April 2026

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ORDINARY MEETING                                                                       21 MAY 2026




RECOMMENDATION
That Council note the report by the Revenue Services Manager and Financial Services Manager to
the Ordinary Meeting dated 21 May 2026 regarding Council's financial performance to 30 April 2026.


REPORT
Council's overall financial performance to 30 April 2026 is summarised in the following table.




Detailed statements on Council's financial performance to 30 April 2026 are outlined in the following
attachments to this report:

Attachment 1 - Statement of Income and Expenditure 30 April 2026
Attachment 2 - Statement of Financial Position 30 April 2026
Attachment 3 - Statement of Changes in Equity 30 April 2026
Attachment 4 - Financial Analytics 30 April 2026
Attachment 5 - Capital Performance 30 April 2026.

The $3.2m full year operating variance at 30 April 2026 comprises a $2.1m general operating surplus
from activities that are funded through Council’s general rate, regulatory fees and sales of goods
and services and a $1.1m operating surplus from Council's Business Activities (Waste Management
$0.9m) as outlined in the following table.




Council has elected to apply National Competition Policy (NCP) reforms to its Waste Management
and Holiday Parks operations which provides greater transparency and assists in removing
anticompetitive conduct while ensuring the best allocation of Council's limited resources. A summary
of the Year-to-Date operational performance of these business activities is as outlined in the above
table.

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ORDINARY MEETING                                                                    21 MAY 2026



Operating Revenue
At 30 April 2026, Council had received $147.6m or 96.2% of its operating revenue budget of $153.4m
with detailed commentary on major variances outlined in the following table.




Operating Expenditure
 At 30 April 2026, actual operating expenditure was $124.5m or 81.2% of the full year budget of
$153.3m with detailed commentary on major variances outlined in the following table.




Major materials and services variances by financial statement category (as reported in Council's
audited financial statements) to 30 April 2026 are detailed in the following table.

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ORDINARY MEETING                                                                          21 MAY 2026




The differences in commentary between the two tables in relation to materials and services is due
to the utilisation of different selection codes within Council's financial system in order to comply with
our external reporting obligations.

In the last week of April 2026, Council officers commenced the recording of the impact of the Middle
East Conflict (the Conflict) on Council's materials and services. In the last week of April an additional
$4k of expenditure was directly attributable to the Conflict. These costs will now be reported to
Council on a monthly basis.

As yet, the budgetary impact of increasing fuel costs for Council's fleet and plant is yet to be realised
against profiled budgets, with the higher than anticipated fleet costs noted above largely attributable
to the external hire of plant and equipment $0.1m.

Tourism and Economic Development Investment
Council resolved to report on a monthly basis, investment details for tourism and economic
development. Expenditure on Tourism and Economic Development activities to 30 April 2026 is
outlined in the below table.




Details on specific project expenditures within the Tourism and Economic Development cost centres
are outlined in the following table.

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ORDINARY MEETING                                                                      21 MAY 2026




Capital Revenue
Capital revenue of $24.3m received to 30 April 2026 comprises cash contributions from developers
of $2.3m and capital grants and subsidies of $21.9m, with the timing of capital grant and subsidy
receipts generally dependent on the timing of grant conditions and capital works delivery. The timing
of the receipt of developer contributions (both cash and contributed assets) remains unpredictable.

A comparison of actual capital grants and subsidies received to 30 April 2026 by capital works
program compared to the current 2025/26 whole year budget is outlined in the following table.




In line with the approved recovery programs for the 2025/26 and 2026/27 financial years, Council
officers are now not anticipating to receive any further recovery payments in the 2025/26 financial
year. As indicated above, the receipt of the remaining outstanding grants and subsidies remains
dependent upon the completion of the balance of the 2025/26 capital works program.

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ORDINARY MEETING                                                                            21 MAY 2026


Major capital grants and subsidies received to 30 April 2026 by project are outlined in the following
table.




Capital Expenditure
At 30 April 2026, actual capital expenditure (excluding commitments) was $31.8m or 39.3% of
Council's $80.8m revised capital works program.

As shown in the following table, when this expenditure is adjusted to exclude $4.6m of other capital
expenses associated with the write off of assets, loan redemption payments of $1.9m and
contributed assets, actual capital expenditure was $25.3m or 32.3% of the revised capital budget of
$78.1m as outlined in the following table.




Of the total year to date capital expenditure outlined above, $2.3m relates to disaster recovery
works. In line with the approved recovery programs for the 2025/26 and 2026/27 financial years,
Council officers are now not anticipating any further significant recovery program expenditure in the
2025/26 financial year. The recovery program has a current year budget of $29.3m.

Other Capital Expenses of $4.6 million, as disclosed in the attachments, represent the partial value
of capital projects that have either been written off following the end of their useful lives in accordance
with standard asset management practices, or relate to projects currently under review as part of
Council’s assessment of its work-in-progress balance.

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ORDINARY MEETING                                                                      21 MAY 2026



For comparative and discussion purposes, the following graphs present base capital expenditure
and project staged completion to 31 March 2026, as most recently reported to the Capital Works
Executive Committee. These graphs are intended to visually support and complement the
information outlined in this report and reflect the same trends disclosed in Attachment 5.




Detailed discussion of the progress of the capital works program is also provided through a separate
quarterly report by the Infrastructure Team.

Cash Management and Investment Performance
Total cash on hand at the end of April 2026 was $146.7m, with $7.0m of this balance held in trust.
Of the total cash balance at 30 June 2025 of $125.4m, $30.7m was externally restricted for items
such as unexpended levy funds with a further $25.3m internally restricted for items such as disaster
management, waste management and future asset replacement. The mix of Council's external and
internal restricted cash will be reviewed during the compilation of Council's 2025/26 Financial
Statements and 2026/27 Budget.

A summary of Council's investments at 30 April 2026 is outlined in the following table.

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ORDINARY MEETING                                                                         21 MAY 2026



Council's investments continue to perform well against agreed benchmarks with a summary of
Council investment performance to the end of April 2026 outlined in the following table (rolling 6
monthly performance) and graph.




Noting abovementioned commentary around the financial delivery of the capital works program and
grants and subsidies received to date, since 30 April 2025, Council's total cash holdings have
increased by $25.6m or 21.1%.

Excluding interest on overdue rates and utility charges, at 30 April 2026, Council had received $6.5m
($1.8m from Associate - Unitywater) in interest from its investments.

Rates and Utility Charges - Rate Arrears
As outlined in the following table, at 30 April 2026 Council's outstanding rates and utility charges
totalled $7.4m or 7.8% of Council's rates and utility charges base, with the decrease in outstanding
rates and charges from March 2026 ($11.5m or 9.7%).




* Estimated 2025/26 revenue is based on July 2025 levy revenue multiplied by two, rounded to the nearest
million dollars.

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ORDINARY MEETING                                                                            21 MAY 2026


Rate arrears balances follow a predictable six-monthly cycle, increasing after the July and January
levy periods, and decreasing in the months that follow.

Measures of Financial Sustainability
As previously reported to Council, reporting of financial sustainability ratio performance will now
occur in September, December, March and June of each financial year.


Link to Corporate Plan
Theme No. 5 - Excellence
This theme focuses on customer experience, financial sustainability, innovation and technology,
levels of service, governance, our employees and volunteers, funding streams and asset
management practices.
Objective 5.2 - Continue to deliver a financially sustainable Council that has the resources
now and into the future to achieve its strategic objectives.
This will be supported through the introduction of enhanced sustainability reporting and performance
indicators, as well as ESG (environment social and governance) accounting practices as guided by
statutory requirements.




Previous Council Consideration
Financial Performance Report March 2026 to the 16 April 2026 Ordinary Meeting.


Finance
To meet its monthly reporting obligations under section 204 of the Regulation, a monthly financial
report is to be provided to Council for its information. This report complies with section 204 of the
Regulation, providing Council with a report on its financial performance to 30 April 2026 against its
Revised Budget for the 2025-26 financial year as adopted by Council on 19 February 2026.


Risk & Opportunities
Council’s risk register identifies a number of risks that could impact on its ongoing financial
sustainability.

In order to manage and mitigate these risks, Council uses various tools which include monthly
ongoing financial reporting to identify and address emerging issues, conservative budgeting,
compliance with the Financial Sustainability Policy, regular budget reviews, effective liquidity
management (to ensure sufficient fiscal flexibility), as well as adhering to the Reserves and
Restricted Cash policy which requires that Council maintains both a disaster management reserve
and a minimum 3 months cash cover to fund emergent matters.

At 30 April 2026, noting the financial impacts of the reclassification of Work In Progress (WIP)
projects and reprofiling / amendments to the timing of the delivery of the capital works program, there
are no other identified financial risks that will negatively impact Council's forecasted financial position
at 30 June 2026.


Human Rights
Human Rights Compatibility Statement
In developing this Report, the subject matter has been considered in accordance with the
requirements of the Queensland Human Rights Act 2019. It is considered that the subject matter

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ORDINARY MEETING                                                                                   21 MAY 2026


does not conflict with any human rights and supports a human rights approach to decision making
by Council. Council representatives will endeavour to act and make decisions under this report in a
manner that is compatible with human rights. This report should be read in conjunction with
Council’s Human Rights Policy.



Consultation
External Consultation - Community & Stakeholder
No external or community consultation was undertaken in the development of this report
Internal Consultation
Departments consulted:
     Office of the CEO, Mayor &             Community Services                   Corporate Services
             Councillors
      Mayor & Councillors             X    Director                    X   Director
 X    Chief Executive Officer              Community Connection        X   Financial Services
      Executive Officers                   Sport & Active Lifestyles   X   Revenue Services
      Community Engagement                 Arts & Culture                  ICT
      Governance                           Customer Experience             Procurement

                                                                           People & Culture
      Strategy & Environment              Development & Regulation           Infrastructure Services
 X    Director                        X    Director                    X   Director
      Strategy & Sustainability            Development Assessment          Civil and Asset operations
      Economic Development        &                                        Infrastructure Planning, Design
                                           Local Laws
      Destination Management                                               and Delivery
      Environmental Services               Environmental Health            Waste
      Innovation & Digital Hub             Building & Plumbing             Building & Facilities
      Commercial Property                  Property / Permits              Disaster Management

                                                                           Fleet