2019-11-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                              18 NOVEMBER 2019


 Category              Summary                                 Comments
                                                                Waste disposal fees $78k below YTD budget
                                                                  (31% or $1.3 million of $1.5 million budget
                                                                  earned).
 Interest              $694k (49%) of the $1.4                     Interest on overdue rates and charges $58k
 Received              million annual budget has                    above YTD budget (45% or $178k of $400k
                       been earned                                  budget earned).
                                                                   Investment revenue $19k above YTD budget
                                                                    (51% or $516k of $1.0 million budget earned).
                                                                   Further downward movements in interest rates
                                                                    will impact on Council’s interest revenue on
                                                                    cash invested, and will be monitored for any
                                                                    overall interest revenue budget implications.
 Other Revenue         $430k (49%) of the $880k                    Water Bottle filling station contribution from
                       budget has been earned                       MOU with Unitywater $25k (not budgeted).
 Operating             $1.5 million (30%) of the $5.1              Reduction in annual grant funding for Noosa
 Grants,               million budget has been                      Community Support ($400k) will be offset by
 Subsidies             received                                     reduction in operating costs – to be addressed
                                                                    at budget review 2 (BR2).
                                                                   50% or $1.1 million of the financial assistance
                                                                    grant was again prepaid in June 2019 and may
                                                                    impact on Council’s 2019/20 final operating
                                                                    position if the prepayment approach is
                                                                    discontinued by the Australian government.
                                                                   All other operating grants are in line with budget
                                                                    forecasts at this stage.
 Unitywater            On track                                    Unitywater distributions are fixed each year so
 Distributions                                                      little budget variance risk.

Figure 2: Operating Revenue Position by Type (Excluding Rates)

 $3.5
                                       $3.1 $3.0
                $2.9
 $3.0    $2.8
                                                                        YTD Budget ($m)
 $2.5                                                                   YTD Actual ($m)

 $2.0
                                                                               $1.7
                                                                                   $1.5
 $1.5
                                                                                           $1.1 $1.1
 $1.0                           $0.7
                       $0.6
                                                   $0.5 $0.4       $0.4 $0.4
 $0.5

 $0.0
                                                    Income




                                                                       Other
             Charges




                                        Goods &




                                                                                  Grants




                                                                                             Unitywater
                                        Services
                                        Sales of




                                                     Rental
                          Interest
             Fees &




                                                                                              Share of




Operating Expenditure (YTD Benchmark 33%)

Actual operating expenditure is currently 31% ($31.2 million) of full year budget ($99.8 million).
Detailed commentary for each expenditure category is provided below.




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