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2021-04-12 General Committee Meeting Agenda
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AGENDA
General
Committee Meeting
Monday, 12 April 2021
commencing at 10am
Council Chambers, 9 Pelican Street, Tewantin
Committee: Crs Frank Wilkie (Chair), Karen Finzel, Joe Jurisevic, Amelia
Lorentson, Clare Stewart, Brian Stockwell, Tom Wegener
“Noosa Shire – different by nature”
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Section 2
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
TABLE OF CONTENTS
ITEM PAGE
1 ATTENDANCE & APOLOGIES 3
2 CONFIRMATION OF MINUTES 3
3 PRESENTATIONS 3
4 DEPUTATIONS 3
5 ITEMS REFERRED FROM COMMITTEES 3
1 MCU20/0128 – DEVELOPMENT APPLICATION FOR MATERIAL CHANGE OF
USE FOR A RESIDENTIAL CARE FACILITY AT 32 VIEWLAND DRIVE, NOOSA
HEADS 3
2 PARK ROAD TEMPORARY PATH UPGRADE FURTHER INFORMATION 3
6 REPORTS DIRECT TO GENERAL COMMITTEE 4
3 PROPOSED LEASE - SHOP 8, SUNRISE BEACH SHOPPING CENTRE 4
4 BUDGET REVIEW 3 (BR3) FOR THE 2020/21 FINANCIAL YEAR 10
5 FINANCIAL PERFORMANCE REPORT – MARCH 2021 29
7 CLOSED SESSION 43
Page 2 of 43
Section 3
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
1 ATTENDANCE & APOLOGIES
2 CONFIRMATION OF MINUTES
The Minutes of the General Committee Meeting held on 15 March 2021 be received and
confirmed.
3 PRESENTATIONS
Nil.
4 DEPUTATIONS
Nil.
5 ITEMS REFERRED FROM COMMITTEES
PLANNING & ENVIRONMENT COMMITTEE
1 MCU20/0128 – DEVELOPMENT APPLICATION FOR MATERIAL CHANGE OF USE
FOR A RESIDENTIAL CARE FACILITY AT 32 VIEWLAND DRIVE, NOOSA HEADS
(Planning & Environment Committee Agenda, 6 April 2021, Item 1, Page 4)
Reason for referral – For further consideration
SERVICES & ORGANISATION COMMITTEE
2 PARK ROAD TEMPORARY PATH UPGRADE FURTHER INFORMATION
(Services & Organisation Committee Agenda, 6 April 2021, Item 1, Page 4)
Reason for referral – Significance of the issue
Page 3 of 43
Section 4
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
6 REPORTS DIRECT TO GENERAL COMMITTEE
3 PROPOSED LEASE - SHOP 8, SUNRISE BEACH SHOPPING CENTRE
Author Property Advisor – Commercial Property, Robyn Mercer
Corporate Services Department
Index ECM/Subject: 46.01 Leases
Attachments 1. Application Support Summary
EXECUTIVE SUMMARY
Not applicable.
RECOMMENDATION
That Council note the report by the Property Advisor – Commercial Property to the General
Committee Meeting dated 12 April 2021 regarding the lease of Shop 8, Sunrise Neighbourhood
Shopping Centre and:
A. Agree to enter a commercial lease of the premises to Tanglewood Company Pty Ltd, for a five
(5) year term, as generally outlined in the report;
B. Agree to an initial rent-free period of 6 months; and
C. Authorise the CEO to award up to 4 subsequent lease extensions each of 5 years, subject to
the lessee complying with the terms of the lease.
REPORT
The purpose of this report is to seek Council approval to enter into a new lease for Shop 8 - Sunrise
Neighbourhood Shopping Centre. Shop 8 is the largest tenancy in the centre comprising 305m 2, is
the centre’s key anchor tenancy and has traditionally been leased as a convenience store/grocer. In
recent years the shop has been vacant which has affected overall centre performance.
Colliers International is Council’s managing agent for the centre and have been actively seeking new
tenants for the vacancy. Colliers have received an offer to lease from a local business, Tanglewood
Company Pty Ltd, who are proposing to lease Shop 8 for wholesale and retail food production,
grocery, organic and wholefoods purposes.
In accordance with their role as managing agent, Colliers has undertaken an assessment of the
lease proposal and supporting information as per the Tenant Assessment Criteria noted in
Attachment 1. The proposal scored highly against the criteria and Colliers notes in their opinion
‘Tanglewood are an excellent fit for the Sunrise Beach Shops’.
The agreed rent achieves a fair market value in line with an independent market valuation. The
primary lease provisions proposed are as follows:
Page 4 of 43
Section 5
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Lease Provision Proposal
Lessee Name: Tanglewood Company Pty Ltd
Premises: Part of Lot 8 RP901384
Annual Rent: $85,400 (excluding GST)
Nett Lettable Area: 305m2
Indicative Commencement Date: 1June 2021
Rent Free Period: 6 months
Initial Lease Terms: 5 years
Options to Extend: 4 x 5 years
Market Rent Reviews: At the commencement of each option.
Outgoings: Lessee is responsible for their proportionate share of outgoings for the
centre.
Permitted Use: Wholesale and retail food production, grocery, organic and wholefoods.
Previous Council Consideration
Nil.
Finance
The financial return posed by the new lease is as detailed above. Tanglewood Company proposes
to undertake substantial fit out works to the premises. The proposed six (6) month rent free period
is intended to help offset the lessee’s establishment costs. Some legal and transactional costs will
be incurred by Council in the order of $3,000 and will be absorbed in the current Property budget.
Lease revenue will be recognised in the 2021/22 budget.
Risks & Opportunities
Risks
The proposed lease poses minimal risk as it seeks to re-establish an anchor commercial tenant.
Opportunities
The lessee’s proposal demonstrates a commitment to the centre and identifies new business and
employment opportunities. The new lease proposal will help activate the centre and meet the needs
of the community.
Consultation
External Consultation - Community & Stakeholder
Colliers International Sunshine Coast
Savills Valuations Pty Ltd
Internal Consultation
Director Corporate Services
Property Manager
Page 5 of 43
Section 6
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Departments/Sections Consulted:
Chief Executive Officer Community Services x Corporate Services
Executive Support Director x Director
Community Development Financial Services
Community Facilities Fleet
Libraries & Galleries ICT
Local Laws x Procurement
Waste & Environmental Health x Property
Revenue Services
Executive Services Environment & Sustainable Development Infrastructure Services
Director Director Director
Community Engagement Building & Plumbing Services Asset Management
Customer Service Development Assessment Buildings and Facilities
Governance Economic Development Civil Operations
People and Culture Environmental Services Disaster Management
Strategic Land Use Planning Infrastructure Planning,
Design and Delivery
Page 6 of 43
Section 7
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
ATTACHMENT 1
Page 7 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
ATTACHMENT 1
Level 5,57 The Esplanade PO Box 796 man +61 7 5478 3788
Cotton Tree QLD 4558 Cotton Tree QLD 4553 Fax +61 7 5443 5982
www, colliers.com.au Eman jesse. [email protected] Colliers
INTERNATIONAL
18 March 2021
Robyn Mercer
Noosa Council (Commercial Property)
PO Box 141
TEWANTIN QLD 4565
Dear Robyn,
RE: APPLICATION OF TANGLEWOOD PTY LTD TO SUNRISE BEACH SHOPS
Thank you for the privilege of allowing us to assist with your tenant search for the 2 Grasstree Court
(Sunrise Beach Shops). It is the view of Colliers Sunshine Coast that the successful placement of
Tanglewood will be a key milestone in Noosa Council's strategic objective of re-activating the complex.
This letter outlines the process that was followed to procure Tanglewood in addition to our assessment
of Tanglewood as a potential tenant for the complex.
Procurement Process
Colliers International (Sunshine Coast) followed the procurement processes required of Council in
addition to generally accepted methods of advertising online and approaching potentially suitable
tenants within our own database. The below table outlines the timeframes surrounding the tenant
procurement.
Procurement Timeline
Pre November 2019 ~==Property had been advertised with other commercial leasing agents.
15th November 2019 Publicly advertised online via major commercial real estate websites:
to current .
e Realcommercial.com.au
e Commercialrealestate.com.au
® Colliers.com.au
10th December 2019 Publicly Advertised in Noosa News (1/4 page advert.). See Annexure A
2nd December 2019 Discussions with several potential users over the leasing period.
to current
March 2020 Any potential tenants expressing interest advised applications would soon
be presented to council.
Page 7 of 43Section 8
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 8 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Level 5,57 The Esplanade PO Box 796 man +61 7 5478 3788
Cotton Tree QLD 4558 Cotton Tree QLD 4558 Fax +61 7 5443 5982
www, colliers.com.au Evan jesse. [email protected] Colliers
INTERNATIONAL
Tenant Overview: Tanglewood Pty Ltd
Tanglewood was created by a local family who have a passion for high quality, natural, and locally
sourced produce. Beginning in 2014 and named after the iconic Tanglewood track that’s found in the
world-famous Noosa National Park, Tanglewood’s artisan products are now found in many households
and local restaurants.
Tenant Assessment Criteria
Commercial Terms 20/20 The commercial lease terms offered by Tanglewood
are reflective of the asking terms.
The “rent free incentive” is below market in a post covid
environment.
Business Track Record 18/20 After it’s conception in 2014, Tanglewood has grown
substantially with it’s products found in households and
respected restaurants.
Capability and Resources 20/20 Based on the information provided by the firms qualified
Chartered Accountant, we are confident that
Tanglewood will be able to meet the financial
obligations of the lease.
Suitability & Compatibility 17/20 A growing local company that supports other local
businesses, Tanglewood’s offering is set to attract large
volumes of patrons to the complex and fill a gap in the
market.
Contribution to Local Economy = 18/20 In addition to working with other local business,
Tanglewood will be providing the surrounding
catchment areas with much needed products. They will
also be creating a space for locals to relax, eat and
drink.
Total Assessment 93/100 —siIt is the opinion of Colliers that Tanglewood are an
excellent fit for the Sunrise Beach Shops.
Page 8 of 43Section 9
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 9 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Level 5, 57 The Esplanade PO Box 796 man +61 7 5478 3788
Cotton Tree QLD 4558 Cotton Tree QLD 4558 Fax +61 7 5443 5982 -
www, colliers.com.au Eman jesse. [email protected] Colliers
INTERNATIONAL
Conclusion
We again thank you for the opportunity to work alongside Noosa Council to find a suitable tenant for
the Sunrise Shops. Having followed the Council’s due process and having assessed the potential
tenant against the Council's criteria, we strongly support the application of Tanglewood and can be
called upon anytime to provide further feedback.
Yours sincerely
Jesse Howitt
Colliers Sunshine Coast
Annexure A — Newspaper advertisement image:
Accelerating success OTS eS
Reach more people - better results faster oe
COMMERCIAL TENANCIES FOR LEASE
FOR LEASE
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Jesse Howitt 0468 495 640
colliers.com.au
Page 9 of 43Section 10
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
4 BUDGET REVIEW 3 (BR3) FOR THE 2020/21 FINANCIAL YEAR
Author Manager Financial Services, Trent Grauf
Corporate Services Department
Index ECM / Subject / 7.26 – 2020-2021 Budget
Attachments 1. Proposed Operating Budget Submissions
2. Proposed Capital Budget Submissions
3. Revised Capital Program
4. Revised Statement of Income and Expenditure
5. Revised Budget Financial Statements
EXECUTIVE SUMMARY
The Local Government Act 2009 and Local Government Regulation 2012 require Council to
undertake regular reviews of the adopted budget to ensure it remains reflective of planned activities
to be funded through the financial year. This third and final budget review for the 2020/21 financial
year (BR3) incorporates any new or emergent actions arising from Council resolution, Executive
Team or Capital Works Executive Committee review, reallocation of funds or realised revenue
variance since the adoption of the current BR2 budget in December 2020.
In summary the budget review is proposing a net improvement of $2.0 million to Council’s operating
position, resulting in the operating deficit decreasing from $3.0 million to $0.9 million. This decrease
is primarily due to the additional revenue raised from facilities reopening earlier than anticipated due
to COVID-19 pandemic related closures. The revised capital expenditure program has also
decreased by $4.2 million to $31.2 million.
Item Current Budget Proposed Revised Budget
(BR2) Adjustments (BR3)
($’000) ($’000) ($’000)
Operating Revenue $96,958 $4,203 $101,162
Operating Expenditure $99,915 ($2,194) $102,109
Operating Result ($2,957) $2,009 ($947)
Capital Grants and Subsidies $11,642 $46 $11,688
Capital Works Expenditure $35,392 ($4,150) $31,243
RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 12 April 2021 and approve the proposed changes to the budget for the 2020/21 financial year
as outlined in the revised Budget Financial Statements attached to the report.
REPORT
Section 170(3) of the Local Government Regulation 2012 allows Council, by resolution, to amend
the budget at any time before the end of the financial year. Consequently, formal budget reviews
are scheduled to occur during August, November and April using the latest financial information
available as the basis to revise the budget forecast.
Page 10 of 43
Section 11
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
The key criteria for budget reviews include:
1. Council must ensure compliance with its financial sustainability policy targets. Note for the
2020/21 adopted budget, one indicator will not be met due to COVID-19 impacts.
2. The eligible capital or operating projects must be delivery-ready with a commitment to complete
the project during the year.
3. Capital submissions will be reviewed and authorised by the Executive Team before inclusion
as a budget review submission, where the group will consider justification for the request,
deliverability as well as organisational and community priorities before endorsing any capital
works.
4. All operating and capital submissions for additional spend, reallocation of savings or additional
revenue will be confirmed by the Executive Team based on business risk assessment.
The revised statement of comprehensive income, included as Attachment 4, identifies the financial
statement line items that have been affected by the proposed budget adjustments. The budget
financial statements, included in Attachment 5, also identify the impact of the proposed budget
adjustments to Council’s financial sustainability indicators.
1. Proposed Operating Budget Adjustments
The proposed 24 operational budget adjustments will result in a $2.0 million decrease to the
operating deficit. The following table summarises the operational carryovers by type of funding, with
a detailed list contained in Attachment 1. The financial statements in Attachments 4 and 5 outline
the revised budget position as a result of these proposed adjustments.
Type Submissions Revenue Expense
($’000) ($’000)
Increased Revenue (net) 7 $4,061 $980
Grant Funded 9 $142 $313
Levy Funded 1 $- $18
General Revenue and Reserve Funded 7 $- $883
Total 24 $4,203 $2,194
2. Proposed Capital Budget Adjustments
A total of 20 budget review submissions were received for capital works, with a proposed decrease
of $4.2 million to the 2020/21 capital works program. All capital submissions have been reviewed by
the Capital Works Executive.
The table below summarises the budget submissions by program and categorised as:
Emergent Works: Initiation of new capital works item which have arisen since BR2.
Variation: Acceptance of tender, change in scope or reallocation of funds.
Grant / Levy Funded: Initiation of works funded through successful grant application or
utilisation of constrained reserves set aside for that purpose.
Timing Adjustment: Commencement of construction has been delayed or brought forward
and works will straddle two financial years into 2021/22.
The full list of submissions is contained in Attachment 2.
Page 11 of 43
Section 12
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Program Emergent Variation Grants / Timing of Total
Levies Works
Bridges ($1,696) ($1,696)
Community Facilities $20 $100 ($2,100) ($1,980)
Corporate Buildings $85 $85
Environmental Assets $950 $950
Libraries & Galleries ($350) ($350)
Parks & Playgrounds $480 $480
Pathways & Boardwalks $340 $340
Sealed Road Network $998 $998
Stormwater Drainage $266 ($152) $114
Waste Management ($3,090) ($3,090)
Grand Total $371 $- $2,048 ($6,568) ($4,150)
The following table summarises the proposed revised 2020/21 capital budget.
Total Capital Budget Amount
($'000)
Current BR2 Capital Expenditure Budget $35,392
Proposed BR3 Adjustments ($4,150)
Revised BR3 Capital Expenditure Budget $31,243
The following table summarises the proposed revised 2020/21 capital budget by program, with the
full program contained in Attachment 3.
Program 2020/21 Adjustments Proposed
Current BR2 BR3 Budget
Budget
Capital Works
Bridges $5,199 ($1,696) $3,503
Coastal Canals and Waterways $245 $245
Community Facilities $6,505 ($1,980) $4,525
Corporate Buildings $85 $85
Environmental Assets $950 $950
Gravel Road Network $410 $410
Holiday Parks $410 $410
Libraries & Galleries $925 ($350) $575
Parks & Playgrounds $1,224 $480 $1,704
Pathways & Boardwalks $1,888 $340 $2,228
Public Amenities $220 $220
Public Transport Infrastructure $250 $250
Sealed Roads Network $4,507 $998 $5,505
Stormwater Drainage $1,265 $114 $1,379
Transport and Infrastructure Management $2,211 $2,211
Waste Management $3,653 ($3,090) $563
Other Works
Fleet - Plant Replacement $1,234 - $1,234
Asset Management $3,796 - $3,796
Information Technology $713 - $713
Planning Scheme $736 - $736
Grand Total $35,392 ($4,150) $31,243
Page 12 of 43
Section 13
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Previous Council Consideration
The 2020/21 original budget was adopted by Council resolution on 10 July 2020 (Ref. Special
Meeting Minutes, 10 July 2020, Item 3, Page 3).
The 2020/21 budget review 1 (BR1) was adopted by Council resolution on 20 August 2020 (Ref.
Ordinary Meeting Minutes, 20 August 2020, Item 6, Page 10).
The 2020/21 budget review 2 (BR2) was adopted by Council resolution on 17 December 2020 (Ref.
Ordinary Meeting Minutes, 17 December 2020, Item 6, Page 22).
Finance
The financial sustainability ratios for asset sustainability and net financial liabilities are forecast to
meet the benchmark targets under the revised BR3 budget for 2020/21; however the operating
surplus ratio will continue to fall below the target range.
Ratio Target Original Budget BR1 BR2 BR3
Operating Surplus 0 – 10% (1.9%) (2.3%) (3.0%) (0.9%)
Net Financial Liabilities < 60% (11.1%) (6.3%) (8.5%) (14.5%)
Asset Sustainability > 90% 87.5% 101.5% 100.1% 96.1%
Risks & Opportunities
Risks
Council’s risk register includes a number of risks that could impact on ongoing financial sustainability.
Effective budget management and reporting is an important risk mitigation tool.
Consultation
External Consultation - Community & Stakeholder
Nil.
Internal Consultation
Financial Services have been in contact with all Council branches. Directors of each department
have reviewed endorsed all submissions received. The Executive Team has also reviewed and
endorsed all submissions received.
Page 13 of 43
Section 14
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Departments/Sections Consulted:
X Chief Executive Officer X Community Services X Corporate Services
Executive Support Director X Director
Community Development X Financial Services
Community Facilities Fleet
Libraries & Galleries ICT
Local Laws Procurement
Waste & Environmental Health Property
Revenue Services
X Executive Services X Environment & Sustainable Development X Infrastructure Services
Director Director Director
Community Engagement Building & Plumbing Services Asset Management
Customer Service Development Assessment Buildings and Facilities
Governance Economic Development Civil Operations
People and Culture Environmental Services Disaster Management
Strategic Land Use Planning Infrastructure Planning,
Design and Delivery
Page 14 of 43
Section 15
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 15 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
2020/21 Budget Review 3 - Operating Submissions ATTACHMENT 1
Type Tt
Item iets CC(‘C*dEXpernse ' [Revenue |
AdditionalRevenue |
Development Search fees and infringement revenue above budget -205,000 -205,000
Assessment YTD
Holiday Parks Additional Holiday Parks revenue due to reopening 585,332] -1,524,540 -939,208
earlier than anticipated following COVID-19 pandemic.
Partially offset by additional operating and
maintenance costs
Search fees performing above budget expectations f -55,500 | 65,500)
| «Additional general rates due to growth in properties f -100,000 -100,000
Waste Management {Additional revenue from waste charges, green waste 195,000] -1,236,000} -1,041,000
disposal and recyclables sales. Partially offset by
additional concrete crush, emergent leachate pit works
& subscriptions
Community Facilities |Additional revenue due to reopening earlier than 199,300] -792,000 -592,700
anticipated following COVID-19 pandemic. Partially
offset by additional operating and maintenance costs
Building and Plumbing |Additional YTD revenue - partially offset by additional -148,000 -148,000
operating costs
Additional Revenue Total 979,632| 4,061,040} -3,081,408
Grant Funded eT Tt
Art Gallery and Butter |Arts Queensland QASP funding - Floating Land 2021 56,000 -56,000
Factory
Financial Services Cost of Schoolies 2020 response, with proposed 50/50} 138,000 -69,000 69,000
State Government funding yet to be provided
Library Services Engaging Science grant funding (late final payment for -4,950 -4,950
2019/20 program)
Natural Areas 2019 Bushfire Recovery Exceptional Assistance 122,571 122,571
Immediate Support Package. $1.275M grant received
in 2019/20, now fully allocated to projects
Noosa Community Increased HAS grant funding for Noosa Community 13,707 -13,707
Support Support to be expended on delivery programs
Parks and Landscape |Local Economic Recovery Program funding - road 33,205 -33,205
corridor vegetation clearing project
Tourism and Firetech grant instalment to be received next financial -50,000 50,000
Economic year
Development
| ———S—s—S—SSsRevision of trainee commencement incentive grant | | 4,000 4,000
Transport and Traffic }Go Noosa Community Cycle Skills funding -19,233
Planning
GrantFundedTotal | 813,483] 142,095] 171,388
Unfunded Emergent Requests ee ee ee
Risk Management and|Governance legal costs 261,843 261,843
Insurance
Chief Executive Office [Kin Kin Quarry review - expenditure to date 67,000 | 67,000
Development Development Inspector (temporary) engaged to 25,494
Assessment support progression of STA local law
Additional legal costs associated with development 352,000
appeals
Environmental Flying fox management additional maintenance and 18,184 18,184
Services and operating costs
Protection
Page 15 of 43Section 16
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 16 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Type Total
litem Details CCCC*dEXpeernsee [Revenue |_|
Natural Areas Increase in proactive tree maintenance and tree 88,201 88,201
related customer requests
Council Buildings and |Emergent works at Noosaville depot to address water 70,000 70,000
Facilities leakage issues including roof and carpet replacement
(total project $154k - maintenance component $70k)
Unfunded Emergent Requests Total Te 882,722
Levy Funded ee es
Heritage Levy Additional costs required to finalise conservation 17,937 || 17,937
management plan levy initiative
LevyFundedTotal | | 87,937] 17,937
Grand Total 2,193,774] 4,203,135] -2,009,364
Page 16 of 43Section 17
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 17 of 43
a. rane ae permease aera a eee
ee BR2 Proposed ‘BR3| Change Nataite ATTACHMENT 2
ane Budget Changes Budget |Category Petals ATTACHMENT 2
Perel cy 28,912,327 - 4,149,502 piel: P ay)
Bridges eee
Orealla Crescent Overpass Refurbishment - BRP Zoe] ——SSC«dtCi OBA] CPOOCOCOSCSOSCSCSCSCSCSCSCSCSC‘;‘C;SCSC~*?'
Tewantin Doonella Bridge Renewal 50,000] 50000)
Cooran Tablelands Road Bridge Renewal - BRP. 795,480 -545,480 250,000 | Delay into Delayed tender release (March 2021) resulting in revised
2021/22 construction commencement date of June 2021
Kin Kin Wahpunga Lane Bridge Renewal Annual - BRR 4,272,767 -1,150, 767 122,000 |Delay into Delayed tender release (March 2021) resulting in revised
2021/22 construction commencement date of June 2021
Eerie Cresk Road Pedestrian Brdge- USR Topo] SCS—~dtCtC‘ OOYCPOOCOCOCOCOCCCC‘“‘(‘#SNNWNWCN#S
Cooroy Belli Creek Road Bridge Renewal 35,000f 85,000
Noosa Heads Garth Prova Bridge Renewal S000) id SiO CdSCOCSCSCSCSCSCSCSCSCSCSCSCSCNCNNC
Black Mountain Lawnvile Road Bridge Renewal oof +d? io] SCdCSCOCOCOCOCCCOCCSCSC
Monks Bridge Abutment Renewal go,o0of 90,000
Directional Signage Hiton Tee zooop _+4t 2000] id) CCS
Total Bridges 5,198,579 1,696,247 3,502,332
Coastal Canals and Waterways _ n in IL A
Noosa Heads Dog Beach SEMP 110,000] 110,000)
Noosa Waters Revetment Wall Toooof | tooo TTS
Replace Dune Fencing at Fist Cutting - Catb2018 woof +4? aooo]SS—CS| SSTTTTTTTTTTTTTTTTCTTTC~*™
Total Coastal Canals and Waterways 245,000 0 245,000
KS rua arava | l
NAC - LTS AMP Pool Renewal Program 13.435{ 13,495]
Rufous St - Stage 3 Community House, Car Park & Landscape 4,307,176 -2,100,000 2,207,176 Contract awarded & construction starting March 2021 and
2021/22 complete by October 2021
Rufous St Stage 3 Digital Hub Expansion Te] | wem| | CCOCOCSC.C‘¥S
Rufous St~ Stage 3 Project Management Sel iY ST CPOOCOCOCOCCCCSC~C~CSY
Community Facilties Minor Works Brought Forward arson) | _er6oo) S| CCC
NAC Replacement of Light Pole Fittings 59,500) 89.500)
Pomona School of Arts Hall- Amenities Upgrade 203,000] | 309000] TCTCCCCCCTC~S
Shire Electrical Distribution Board Renewals 120,000] 120,000)
Shire Community Halls and Facilities Renewals - W4Q 270,00of 270,000)
Coorcy Lower Mil Site Shed- Remove and Replace Arienties S000, +d? SS—i]CdCOSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSCSC~*d
Tewantin - Building Renewal Works Cadets Bldg 150,000] 150,000]
Shine House - Stand Alone Unit Construction 250,000 70,000 320,000 }Grant / Levy Budget revised to reflect tendered construction cost, with shortfall
Funded Work [funded from Salvation Army co-contribution
Cooroy Butter Factory - Security Fence 10,000f 10,000]
Tnbeerwah Hall Cladding and Roof refurbishment Teo,00of | 160000] <i CCC CCS
New Amenities - United Synergies Community Building 60,000 30,000 Grant / Levy Budget revised to reflect tendered construction cost, with shortfall
Funded Work [funded from United Synergies co-contribution
Lifeguard Tower Renewal works S7,00of 57,000}
Noosa Trathion Club clubroom alterations zoo) it sof] TTY
The J Community Centre seating refurbishment Toco] _————«d(CSCSCiO OO] SC*dSCSSSCSCSCSCSCSCCCCCCSCS
NAC Switchboard Replacement 135,000] 135,000)
Peregian Beach Rufous St Public At Cat2070 zoop id SOCdSOCOSOCOOCCSCSCSCSCSCSCSCS
Replacement of NAC Pool Blankets | 20,000 20,000) Replacement of deteriorating pool blankets
Works
Total Community Facilities 6,194,781 -1,980,000 4,214,781
Noosaville Depot Roof Replacement Works 84,602 84,602 |Emergent Emergent works at Noosaville depot to address water leakage
Works issues including roof and carpet replacement {total project $154k -
maintenance component $85k)
Total Corporate Buildings 0 84,602 84,602
Environmental Assets, Bushland, Tracks and Trails
Environment Land Purchase - Lake Front Rd, Boreen Point OW 950,000 950,000 Levy Funded environmental land purchase
Works
Total Environmental Assets, Bushland, Tracks and Trails 0 950,000 950,000
Gravel Road Network
Shire Gravel Resheeting Annual wooo CCC‘ IOOOCCCOCOC™COOCOCCCCC(NC#@d’
Total Gravel Road Network 410,000 0 410,000
Holiday Parks : | :
Boreen Point Campground Upgrade Works 410,000} 410,000)
Total Holiday Parks 410,000 0 410,000
Libraries & Galleries . | :
Cooroy Library Renewal of CCTV Cameras 25.00] T5000
Whole of Shire Mobile Library Service Solution 700,000 -350,000 350,000 Revised scheduled forecast for works, with kiosks completed in
2021/22 2020/21 but vehicles delayed to 2021/22
Noosa Regional Gallery Foyer & Amenities upgrade 200,00of 20,0007
Total Libraries & Galleries 925,000 ~350,000 575,000
Parks & Playgrounds _ == ———S | : a
Noosa Hinterland Priority Playground 739,554 480,446 1,220,000 |Brought Contract awarded & construction schedule to commence during
Forwardfrom |2020/21. Complete by December 2021
2021/22
Noosavile Pandorea Park Playground Renewal ool —+dt eon] TCTCCCCCCTCCTCCTCCTCCCCTCSSY
Renewal of Noosa Waters Seagull Playground 100,000f_ 100,000}
Renewal of Lake Macdonald Playaround sooo] Sid SSC OOO]CPSCCCCCCCCCCC
Page 17 of 43Section 18
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 18 of 43
Project heie Proposed Bes Change: Details
s Budget Changes Budget | Category seo)
rs ee SA a SEE oo SE
Sunshine Beach Skate Park New Shade Structure woo] CT SC OOCC~—CSCSCSCSCSYS
[ake Cooroibah Foreshore - Catb2019 oof | __aooof i) SY
Replace Shade Shelters at Noosa Banks - Cat D2019 50.000] 50000)
Total Parks & Playgrounds 1,224,554 480,446 1,705,000
Pathways & Boardwalks : : |
Noosa Heads Noosa Parade Road Corridor Upgrade 100,000 100,000) Brought forward |Planning and design works brought forward from 2021/22 following
from 2021/22 —|successful grant application
Cooroy Maple Street Raised Pedestrian Crossing - LGGSP 347,000[ 347,000)
Tewantin, Hiton Terrace CNLGGP & Ivory Palms ES A RE <
Wallace Park Pathway 586 Waa Temp «id SSC] OOCOCOCOCOCC~C~*Y
Shire Pathway Renewal Program Annual - W4Q 332,000} 892,000]
Noosavile Sea Eagle Diive & Shire Drive Pathway Upgrades sete] id IT] COOOCOCOCOCSCSCSCSCSCSCSC“CNC*”
Noosa Heads Main Beach Boardwalk LED Lighting Renewal Too0f —SC~dCC‘OOOOCSOOCOCOCOCOCOCCSY
Peregian Beach Boardwalk - U&R 230,000[ 20,0007
Noosa Heads Sunshine Beach Road Pathway Lighting USR Teo.00o[ <i S000 CS
Cooroora Trail Loop and Trail Hub |; & 240,000 240,000]Grant /Levy — [Planning and design works included in 2021/22 program following
Funded Work __|successful grant application
Total Pathways & Boardwalks 1,888,002 340,000 2,228,002
Public Amenities _ _ ie i
Public amenities renewal and upgrade works - UR i a
Total Public Amenities 220,000 0 220,000
Public Transport Infrastructure
Shire Bus Shelter Disabled Compliant Program Annual - PTIAP 250,000f 250,000]
Total Public Transport Infrastructure 250,000 0 250,000
SealedRoads Network
Shire Reseal & Rehabilitation Renewal Program Annual 3,091,726) 997,811 4,089,537 |Grant / Levy Additional reseal works fully funded under LRCI grant (half to
Funded Work _Joccur this financial year
Damaged Guardral Renewals (Various) Brel id rT OOCOCOCOOCCC‘(‘#*‘’
Shire Sealed Road Network Rehabilitation and Reconstruction 790,000) 70000; fe
Tewantin Bypass Stage 1 600,000} | 800,000
Total Sealed Roads Network 4,507,494 997,811 §,505,305
‘Sports Ground and Facilities Me !
Tewantin Netball Courts Upgrade - U&R 310,00of 80000
Total Sports Ground and Facilities 310,000 0 310,000
Stormwater Drainage _ ; | :
Gympie Terrace Stormwater Dol _-i| ool] TTTTTTTTCTTCTCCTC—CS™Y
Shire Bioretention Basin Renewals Program Annual Teo) ——<d[ to] | TTTTTTCCCC~™Y
Noosaville, Project Ave Stormwater Drainage Easement Upgrade 237 ,324| -152,324 85,000 Revised schedule with procurement underway and construct to
2021/22 start June 2021 into the 2021/22 financial year
Sunrise Beach Sobraon Street Slope Stabiisation - 4G &LRCI Teel —i| teamey CE CSC~SCS
Marcus Beach DLW -Emergent Stormwater Culvert Works | 266,210 266,210 Emergent works to address abutment B on Marcus Beach
Works stormwater culverts
Total Stormwater Drainage 1,264,860 113,886 1,378,746
‘Transport and Infrastructure Management {|
Whole of Shire Forward Planning & Design Program 500,000] 500,000)
Tewantin, Hitton Tce & Emest St intersection Upgrade Tasso] SiC] PTC
Sunshine Beach Pacific Avenue Pathway, Pedestrian & Dranage moe] Sid SCO OOOCOCOCOCOCSCSCSCSSY
Transport Strategy, Walking & Cycling Strategy &CNLG Grant 2s0as6f 06]
Total Transport and Infrastructure Management 2,210,701 0 2,210,701
Waste Management |
Noosa Heads The
5 1 1 1 54 4 328 2444 82 19 83 Woods Bin Storage Enclosure samo] COCSCSCSCSCSC*dS
Masterplan Landfill SW Controls & Design 115.466) 115,466f
illegal Dumping Hotspot 59.433} 9,43]
Noosaville Eumundi Road Landfill Outbound Weighbridge 560,000 -480,000 80,000 | Delay into Works delayed due to revision of tender and scope. Scheduled for
2021/22 construction in 2021/22
Noosaville Eumundi Road Landfill Liner, Cell capping design 2,110,000 -1,910,000 200,000 | Delay into Works delayed due to revision of scope. Scheduled for
2021/22 construction in 2021/22
Noosaville Eumundi Road Landfill Expansion of Resource Recovery Area 750,000 -700,000 50,000 Works delayed due to revision of scope. Scheduled for
2021/22 construction in 2021/22
Total Waste Management 3,653,356 -3,090,000 $63,356
Shit mer Tel 6,480,000 0 6,480,000
Asset Management AL !
Shire Bridge Annual Level 3 Inspections Annual S5o00f 55000
Zero Emissions Noosa Project Implementation 521655] 524655]
Shire CCTV Dranage Condition Assessment Program Annual 7000 _———+4dt nooo] Sid SCCCCCSCSCSCOCCCC~C~S
Shire Road Infrastructure Asset Data Mat & Condition Annual 340,000f 840,000
Asset Management Systems Implementation 200,000] 200,000)
Noosa Junction Streetscape oof + 000d SSCS
Total Asset Management 1,382,655 0 1,382,655
Fleet - Plant Replacement |
Page 18 of 43Section 19
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 19 of 43
BR2 Proposed BR3 | Change
Project F *roposet R3 | Chang natails
2 Budget Changes Budget | Category .
Plant and Fleet Replacement Program Tae] Sirs] i TTCCTTTCTCCS™Y
Total Fleet - Plant Replacement 1,234,345 0 1,234,345
Information Technology E | Z !
Imblemienfainn of Gl Anywlere Functionally for Technoteuyone XT
Total Information Technology 713,000 0 713,000
Capital Debt Redemption Zao] SiC TTTCTCTCTTC~S™
Total Other 2,414,000 0 2,414,000
Planning Scheme Expansion
Whole of Shire, Clmate Change Adaptation Strategy A a
Whole of Shire, Project Team Resources for New Planning Sche 301,000 120,000) 421,000 Reallocation of Strategic Planning resources based on status of
Shire Planning Scheme Constancy Tapp | tooo] projects
Shire Project Place Spaced Approach - Placemaking Pilot Program 125,000) -120,000 ae Reallocation of Strategic Planning resources based on status of
projects
Total Planning Scheme Expansion 736,000 0 736,000
Grand Total 35,392,327 4,149,502 31,242,825
Page 19 of 43Section 20
Page 20 of 43
Noosa Shire Council
2020/21 Capital Budget Review 3 - Capital Program ATTACHMENT 3
Renewal Projects _ 2 ;
Program ete a lice Grants External Funds Loans LevyReserves General Rates Total
Capital Works
Bridges Cooran Tablelands Road B Bridge Renewal 250,000. | 0 250,000
Bridges Eenie Creek Road Pedestrian Bridge Renewal 100,000 | 100,000
Bridges Kin Kin Wahpunga Lane Bridge Renewal 463,661 | -341,661 122,000
Bridges ‘Sunrise Beach Orealla Bridge Renewal 412,380. | 2,337,953 2,750,333
Bridges Tewantin Doonella Bridge Renewal 50,000 50,000
Bridges Cooroy Belli Creek Road Bridge Replacement | | 35,000 35,000
Bridges Garth Prowd Bridge Replacement | | 50,000 50,000
Bridges Lawnville Road Bridge, Black Mountain 35,000 35,000
Bridges Monks bridge abutment relieving slab repairs | | | 90,000 90,000
Bridges Directional Signage _ Hilton Terrace | | | | 20,000 20,000
Coastal Canals and Waterways Noosa Heads Dog Beach SEMP 110,000 110,000
Coastal Canals and Waterways Noosa Waters Revetment Vall | | 40,000 70,000 110,000
Community Facilities Community Facilities - Other Minor Works | | 57,500 57,500
Community Facilities Cooroy Lower Mill Site Shed - Remove and Replace Amenities 50,000 | 0 50,000
Community Facilities Lifeguard Tower Renewal works 57,000, | | | | 57,000
Community Facilities NAC - Renewal Program 13,435 13,435
Community Facilities NAC - Replacement of Light Pole Fittings 59,500 59,500
Community Facilities Pomona Memorial School of Arts Hall - Amenities Upgrade 264,000 45,000 0 309,000
Community Facilities Shire Community Halls and Facilities Renewals 270,000 om) 270,000
Community Facilities Shire Electrical Distribution Board Renewals 60,000 60,000 120,000
Community Facilities Tewantin - Building Renewal Works Tewantin Sports Complex 150,000 i i [ 0 150,000
Community Facilities The J Community Centre seating refurbishment 100,000 | 20,000 120,000
Community Facilities Tinbeerwah Hall Cladding and Roof refurbishment 150,000 150,000
Community Facilities NAC switchboard replacement | 135,000 135,000
Gravel Road Network Shire Gravel Resheeting - Annual Program Oo | | | 410,000. 410,000
Libraries & Galleries Cooroy Library Renewal of CCTV Cameras 25,000 25,000
Libraries & Galleries Whole of Shire Mobile Library Service Solution | | 350,000 350,000
Parks & Playgrounds Noosaville Pandorea Park Playground Renewal 0 | 55,000 55,000
Parks & Playgrounds Renewal of Noosa waters - Seagull Playground & Lake Macdonald Playground 170,000. 20,000 190,000
Pathways & Boardwalks Noosa Heads Main Beach Boardwalk LED Lighting Renewal | | | | 120,000. 120,000
Pathways & Boardwalks ‘Noosaville Wallace Park Pathways Renewal Stage 3 &4 119,000 0 119,000
Pathways & Boardwalks Shire Pathway Renewal Program 332,000 0 332,000
Public Amenities New Amenities - United Synergies Community Building 60,000. 30,000, 90,000
Public Amenities Public amenities renewal and upgrade works 220,000 220,000
Public Transport Infrastructure ‘Shire Bus Shelter Disabled Compliant Program: Year 7 170,115. 79,885. 250,000
Sealed Roads Network Shire Reseal Program 1,519,537. | | l 2,570,000 4,089,537
Sealed Roads Network Shire Sealed Road Network Rehabilitation and Reconstruction Priority oO 790,000. 0 790,000
Stormwater Drainage Noosaville Gympie Terrace Stormwater Renewals | 40,000 40,000
Stormwater Drainage Shire Bioretention Basin Renewals Program | | 72,190 72,190
Stormwater Drainage Sunrise Beach Sobraon Street Slope Stabilisation 915,346 | | 0 915,346
Stormwater Drainage Marcus Beach DLW -Emergent Stormwater Culvert Works | | 266,210 266,210
Transport and Infrastructure Management Shire Forward Planning & Design Program Construction Ready Designs 79,375 | 420,625 500,000
Transport and Infrastructure Management Sunshine Beach Pacific Avenue Pathway, Pedestrian & Drainage | | 24,608 24,608
Transport and Infrastructure Management Tewantin Hilton Terrace & Ernest St Intersection Upgrade Construction { 1,435,597 1,435,597
Capital Works Total 912,414 865,000 40,000 8,690,842 15,508,256
Asset Management Noosa Junction Streetscape | | 46,000 46,000
Asset Management Shire Bridge Annual Level 3 Inspections | | | 55,000 55,000
Asset Management Shire CCTV Drainage Program | | 220,000 220,000
Asset Management Shire Road Infrastructure Asset Data Management & Condition Program Oo | 340,000 340,000
Asset Management Bushfire Disaster Recovery Cat D - capital works component | | | 135,000
Fleet - Plant Replacement Council Fleet and Plant Replacement Program 1,234,345 1,234,345
Other Capital Total | _ 0 = ’ 46,000 1,849,345 2,030,345
Page 20 of 43Section 21
Page 21 of 43
Noosa Shire Council
2020/21 Capital Budget Review 3 - Capital Program
Upgrade, New and Expansion Projects
Program ered tC Grants External Funds Loans LevyReserves General Rates Total
ery
Community Facilities Cooroy Butter Factory - Security Fence 10,000 0 10,000
Community Facilities Noosa Regional Gallery Foyer & Amenities upgrade 200,000 200,000
Community Facilities Noosa Triathlon Club clubroom alterations 3,000 3,000
Community Facilities Peregian Beach 5 Rufous St Redevelopment Digital Hub Expansion 17,827 17,827
Community Facilities Peregian Beach 5 Rufous St Redevelopment Project Management 55,343 55,343
Community Facilities Peregian Beach 5 Rufous St Redevelopment Stage 3 Construction 80,179 2,126,997 2,207,176
Community Facilities Shine House - Stand Alone Unit Construction 250,000 70,000 0 320,000
Community Facilities Sunshine Beach Skate Park New Shade Structure 150,000 150,000
Community Facilities Tewantin Netball Courts Upgrade 310,000 310,000
Community Facilities Living FireTech Laboratory 568,351 0
Corporate Buildings Noosaville Depot Roof Replacement 84,602
Environmental Assets, Bushland, Tracks and
Trails Environment Land Purchase - Lake Front Rd, Boreen Point 950,000 0 950,000
Holiday Parks Boreen Point Campground Upgrade Works 410,000 410,000
Parks & Playgrounds Cooroy Hinterland Playground 0 1,220,000 1,220,000
Pathways & Boardwalks Noosa Heads Sunshine Beach Road Pathway Lighting Upgrade 150,000 150,000
Pathways & Boardwalks Noosaville Sea Eagle Drive & Shire Drive Pathway Upgrades 163,137 163,137
Pathways & Boardwalks Noosaville Sea Eagle Drive Pathway upgrats STIP Grant 195,000 195,000
Pathways & Boardwalks Peregian Beach Boardwalk Upgrade North of Tower to Access 57 230,000 230,000
Pathways & Boardwalks Tewantin, Hilton Terrace CNLGGP Shared Pathway 6,568 6,568
Pathways & Boardwalks Ivory Palms Shared Pathway Upgrade 225,297 225,297
Pathways & Boardwalks Noosa Heads Noosa Parade Road Corridor Upgrade 1,115,000 100,000
Pathways & Boardwalks Cooroora Trail Loop and Trail Hub 483,218 240,000
Sealed Roads Network Damaged Guardrail Renewals (Various) 25,768 25,768
Sealed Roads Network Tewantin Beckmans Rd Bypass Forward Design 600,000 600,000
Stormwater Drainage Noosaville Project Avenue Stormwater Drainage Easement Upgrade 85,000 85,000
Transport and Infrastructure Management Cooroy Maple Street - Car Parking and Raised Pedestrian Crossing (Hinterland Playground) 0 347,000 347,000
Transport and Infrastructure Management Transport Strategy, Walking & Cycling Strategy and CNLG Grant Applications (2 Year Program) 22,500 227,996 250,496
Waste Management Illegal Dumping Hotspot 10,030 49,403 59,433
Waste Management Noosa Heads The
5 1 1 5 31 6 1010 1416 98 22 96 Woods Bin Storage Enclosure 58,457 58,457
Waste Management Noosaville Eumundi Road Landfill Design Stormwater Controls for Cell 2.3 115,466 115,466
Waste Management Noosaville Eumundi Road Landfill Expansion of Resource Recovery Area 0 50,000
Waste Management Noosaville Eumundi Road Landfill Liner, Cell capping design and associated clearing works 0 200,000
Waste Management Noosaville Eumundi Road Landfill Outbound Weighbridge 0 80,000
Capital Works Total 4,787,278 70,000 0 950,000 4,724,259 9,119,570
Asset Management Asset Management Systems Implementation 0 200,000 200,000
Asset Management QTC Capital Debt Redemption | | | | 2,414,000 2,414,000
Information Technology Technology One Cl Anywhere Systems Implementation 713,000 713,000
Planning Scheme Climate Change Adaptation Program 98,000 | | 112,000 210,000
Planning Scheme Shire Project Place Based Approach - Placemaking Program | | i | 40,000 40,000
Planning Scheme Shire Project Team Resources for + Planning scheme amendment and supporting policy 486,000 486,000
ZEN Program Zero Emissions Noosa Project Implementation | ! 521,655. 521,655
Other Capital Total i ; 98,000 — —— sai eet 4,486,655 SE 4,584,655
Page 21 of 43Section 22
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 22 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Noosa Council ATTACHMENT 4
Statement of Income and Expenditure
For the Year Ended 30 June 2021
Original Current Budget Proposed Revised BR3
Budget Adjustments Budget
($'000) ($000) ($000) ($'000)
Revenue
Recurrent Revenue
Rates, levies and charges 68,388 68,388 936 69,324
Fees & charges 6,640 6,640 409 7,048
Interest received 870 870 - 870
Sale of Goods and major services 7,254 7,296 at Vt 10,013
Sale of contract and recoverable works 23 23 - 23
Rental & lease income 1,197 1,197 - 1,197
Other income 771 796 69 865
Grants, subsidies, contributions and donations 5,406 6,100 73 6,173
Unitywater Distributions 5,650 5,650 5,650
96,198 96,958 4,203 101,162
Expenses
Recurrent Expenses
Employee benefits 34,656 34,752 116 34,868
Matenals & services 42,671 44,473 2,078 46,551
Finance costs 1,538 1,538 - 1,538
Depreciation 18,963 18,963 - 18,963
Other expenses 189 189 - 189
98,017 99,915 2,194 102,109
Operating Result (1,819) (2,957) 2,009 (947)
Summary of Capital Expenditure and Funding
Capital Funding Sources
Capital contributions and donations 3,521 3,521 100 3,621
Grants, subsidies, contributions and donations 7,254 11,642 46 11,688
Cash / revenue 14,842 18,810 (875) 17,934
New loan borrowings 3,420 3,420 (3,420) -
Other capital revenue - - - -
Total Capital Funding Sources 29,037 37,392 (4,150) 33,243
Capital Expenditure
Contributed assets 2,000 2,000 - 2,000
Capital works - constructed assets 21,419 28,912 (4,150) 24,763
Capital works - other capital 3,204 4,066 = 4,066
Loan redemption 2,414 2,414 - 2,414
Other capital expenses - - - -
Total Capital Expenditure 29,037 37,392 (4,150) 33,243
Page 22 of 43Section 23
Page 23 of 43
ATTACHMENT 5
se NOOSA COUNCIL am tans
2020/2021 ~
BUDGET REVIEW 3 (BR3)
FINANCIAL STATEMENTS
Page 23 of 43Section 24
Page 24 of 43
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
. Original
2020 2021 2021 2021 2021 2022 2023 2024 2025 2026 2027 Pips) 2029 Pk
Statement of Comprehensive Income Buty BAT CH tT) EAT SAT) BAT BAT) AT) $,000 EAT) $,000 EAT] $,000 $,000
— Pe
Revenue
Operating revenue
Net rates, levies and charges $ 69,238 | $ 68,388] $ 68,388] $ 68,388] $ 69,324] $ 71,328 $ 73,797 $ 76,175 $ 78,155 $ 80,186 $ 82,270 $ 84,408 $ 86,601 $ 88,852
Fees and charges $ 6445] $ 6640] $ 6640|$ 6640] $ 7,048) $ 6931 $ 7,127 $ 7,296 $ 7,521 $ 7,753 $ 7,991 $ 8238 $ 8466 $ 8,701
Rental income $ 1,003] $ 1,197] $ 1,197] $ 1,197] $ 1,197] $ 1,396 $ 1,475 $ 1,512 $ 1,542 $ 1,573 $ 1,605 $ 1,637 $ 1,669 $ 1,703
Interest received $ 1,545/$ 870/$ 870/$ 870|$ s870|$ 876 $ 847 $ 828 $ 812 $ 823 $ 847 $ 865 $ 886 $ 908
Sales revenue $ 8485|$ 7,276] $ 7,319] $ 7,319] $ 10,036] $ 10,044 $ 10984 $ 11,259 $ 11,605 $ 11,963 $ 12,332 $ 12,712 $ 13,064 $ 13,426
Other income $ 1,074] $ 771) $ 771) $ 796 | $ 865] $ 878 ¢ 923 $ 946 $ 975 $ 1,008 $ 1,036 $ 1,068 $ 1,098 $ 1,128
Grants, subsidies, contributions and donations $ 5447] $ 5406|$ 5741] $ 6099] $ 6173/$ 518 $ 5082 $ 5080 $ 5080 $ 5080 $ 5080 $ 5080 $ 5080 $ 5,080
Unitywater Distributions $ 5645] $ 5650] $ 5650] $ 5650] $ 5650] $ 5650 $ 5650 $ 5650 $ 5650 $ 5650 $ 5650 $ 5650 $ 5650 $ 5650
Total operating revenue $ 98,882] $ 96,198] $ 96,576 | $ 96,958 | $101,162 | $102,286 $105,885 $108,746 $111,340 $114,033 $116,810 $119,656 $122,515 $125,448
Capital revenue
Government subsidies and grants - capital $ 5241] $ 7,299] $ 11,385] $ 11,687] $ 12023] $ 6395 $ 3012 $ 3236 $ 1,762 $ 1,312 $ 1,312 $ 1,312 $ 1,612 $ 1,312
Contributions - Assets and other non-nonetary $ 1,099] $ 2,000} $ 2,000} $ 2000] $ 2000} $ 2,000 $ 2000 $ 2000 $ 2,000 $ 2000 $ 2000 $ 2,000 $ 2000 $ 2,000
Contributions - Monetary $ 2058|$ 1476|$ 1476|$ 1476|$ 1476|$ 2000 $ 2000 $ 2000 $ 2000 $ 2000 $ 2000 $ 2000 $ 2000 $ 2,000
Total capital revenue $ 3,398 $ 10,775| $ 14,861 eae $ 15,498] $ 10,395 $ 7,012 $ 7,236 $ 5,762 $ 5312 $ 5312 $ 5312 $ 5612 $ 5,312
Total revenue $ 107,280 | $ 106,973 | $111,437 | $112,121 | $ 116,660 | $112,681 $112,897 $115,982 $117,102 $119,345 $122,122 $124,968 $128,127 $ 130,760
Capital income
Total capital income $ - $ - $ . $ & $ . $ “i $ Fs $ i $ $ < $ es $ fs $ es $ =
Total income $ 107,280 | $ 106,973 | $ 111,437 $ 116,660 | $112,681 $112,897 $115,982 $117,102 $119,345 $122,122 $124,968 $128,127 $130,760
Expenses
Operating expenses
Employee benefits $ 32996] $ 34,656] $ 34,806] $ 34,752] $ 34,868] $ 36,013 $ 37,091 $ 38,061 $ 39,343 $ 40,664 $ 42,027 $ 43433 $ 44,882 $ 46,377
Materials and services $ 42454| $ 42,671 | $ 43,293] $ 44,473 | $ 46,551 | $ 45,563 $ 47,080 $ 48464 $ 49,294 $ 50,497 $ 51,626 $ 52,679 $ 54,708 $ 56,364
Finance costs $ 4688] $ 1,538] $ 1,538] $ 1,538|]$ 1538] $ 1343 $ 1179 $ 999 $ 80 $ 600 $ 502 $ 489 $ 477 $ 466
Depreciation and amortisation $ 16,522] $ 18,963] $ 18,963] $ 18,963] $ 18,963] $ 19,664 $ 20,235 $ 20,722 $ 21,243 $ 21,730 $ 22,216 $ 22,688 $ 22,127 $ 21,817
Other expenses $ 180 | $ 189 | $ 189] $ 189 | $ 189 | $ 189 $ 189 $ 189 $ 193 $ 197 $ 202 $ 206 $ 211 $ 216
Total operating expenses $ 96,840] $ 98,017] $ 98,789] $ 99,915 | $102,109 | $102,772 $105,774 $108,435 $110,877 $113,689 $116,572 $119,495 $122,405 $125,239
Capital expenses
Total capital expenses $ 4,151] $ - $ - $ - $ - $ s $ zs $ 2 $ e $ z $ . $ 4 $ Bs $ si
Total expenses $100,991 | $ 98,017] $ 98,789] $ 99,915 | $102,109 | $102,772 $105,774 $108,435 $110,877 $113,689 $116,572 $119495 $122,405 $125,239
Net result $ 6,290] $ 8956] $ 12,648] $ 12,206 $ 9909 $ 7,123 $ 7,547 $ 6,225 $ 5,656 $ 5,550 $ 5474 $ 5,722 $ 5,521
Operating result
Operating revenue $ 98882] $ 96,198] $ 96576] $ 96,958] $101,162} $102,286 $105,885 $108,746 $111,340 $114,033 $116,810 $119,656 $122,515 $125,448
Operating expenses $ 96,840 | $ 98,017 | $ 98,789] $ 99.915] $102,109 | $102,772 $105,774 $108435 $110,877 _ $113,689 $116,572 $119495 $122405 $125,239
Operating result $ 2,043 |($ 1,819) }($ 2,213) |($ 2,957 $ 486) $ 111 $ 310 =$ 463 $ 344. $ 238 = $ 162 $ 110 $ 209
Page 24 of 43Section 25
Page 25 of 43
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
Original
2020 2021 pa Pipa 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Statement of Financial Position aT) RMT) BAL) $,000 Sa BAI Sa] at $,000 Bm) St SIT RAI) SALT]
Assets Ti EO CCC
Current assets
Cash and cash equivalents $ 57,024|$ 47,536]/$ 43,.016/$ 52550/$ 554511$ 49,705 $ 45,759 $ 41,675 $ 42603 $ 43470 $ 45,202 $ 48,118 $ 50,837 $ 53,062
Trade and other receivables $ 8883|/$ 9054/$ 9085/$ 9117]/$ 9471]/$ 9623 $ 9,983 $ 10253 $ 10543 $ 10812 $ 11,088 $ 11,340 $ 11,657 $ 11,951
Inventories $ 181] $ 1981 $ 198|$ 181] $ 181] $ 181 $ 181 $ 181 $ 181 $ 181 $ 181 $ 181 $ 181 $ 181
Other current assets $ 2912/$ 2466/$ 2466/$ 2912]/$ 2912]/$ 2912 $ 2912 $ 2912 $ 2912 $ 2912 $ 2912 $ 2912 $ 2912 $ 2,912
Total current assets $ 69,000/$ 59,255/$ 54.765/$ 64,760]/$ 68015|/$ 62421 $ 58,835 $ 55,021 $ 56,239 $ 57,375 $ 59,383 $ 62,551 $ 65,587 $ 68,107
Non-current assets
Investments $ 140,633 | $ 136,360] $ 136,360]$ 140,633] $ 140,633]$ 140633 $ 140,633 $ 140,633 $ 140633 $ 140,633 $ 140,633 $ 140,633 $ 140,633 $ 140,633
Property, plant & equipment $ 929,355|$ 940480|$ 948,640] $ 961,982] $ 957,832] $ 989,525 $1,016,658 $1,044,819 $1,067,074 $1,089,163 $1,113,917 $1,138,093 $1,163,335 $1,188,914
Other non-current assets $ 7,797 | $ 7,688 | $ 7,773 1$ 8,400] $ 8,400 | $ 8,008 $ 7,207 $ 6,381 $ 5,530 $ 4,654 $ 3,763 3 2,826 $ 1,875 $ 1,476
Total non-current assets $ 1,077,785 | $ 1,084,528 | $ 1,092,773 | $1,111,014 | $ 1,106,865 | $1,138,166 $1,164,498 $1,191,833 $1,213,237 $1,234,450 $1,258,303 $1,281,553 $1,305,844 $1,331,022
Total assets $ 1,146,785 | $ 1,143,782 | $ 1,147,538 | $ 1,175,774 | $ 1,174,880 | $ 1,200,587 $1,223,333 $1,246,854 $1,269,476 $1,291,825 $1,317,686 $1,344,104 $1,371,431 $1,399,129
Current liabilities
Trade and other payables $ 7692/$ 6356/$ 6419/$ 6512]$ 66921/$ 6705 $ 6918 $ 7092 $ 7,285 $ 7493 $ 7697 $ 7878 $ 8186 $ 8,444
Borrowings $ 3023/$ 3116]/$ 3,116/$ 3152]/$ 2831/$ 3043 $ 3,222 $ 3417 $ 3,622 $ 491 $ 385 $ 396 $ 328 $ 244
Provisions $ 7582/$ 4630/$ 4630/$ 7582]/$ 7582]/$ 7,582 $ 7,582 $ 7,582 $ 7582 $ 7,582 $ 7,582 $ 7,582 $ 7,582 $ 7,582
Other current liabilities $ 4,780|$ 2778/$ 2778/$ 4780/$ 4780/$ 4,780 $ 4,780 $ 4780 $ 4780 $ 4,780 $ 4,780 $ 4,780 $ 4,780 $ 4,780
Total current liabilities $ 23,077/$ 16879|/$ 16942]$ 22026]$ 21,885/$ 22,109 $ 22502 $ 22871 $ 23,269 $ 20346 $ 20444 $ 20,636 $ 20,876 $ 21,051
Non-current liabilities
Borrowings $ 18494]/$ 19637|$ 19637/$ 19114]$ 16015]$ 13413 $ 10191 $ 6774 $ 3152 $ 2661 $ 2,276 $ 1,880 $ 1,552 $ 1,308
Provisions $ 15,307|$ 12,054]$ 12054]/$ 15307]$ 15,307]$ 15,307 $ 15,307 $ 15,307 $ 15,307 $ 15307 $ 15,307 $ 15,307 $ 15,307 $ 15,307
Total non-current liabilities $ 33,910/$ 31,691/$ 31,691]$ 34531]$ 31432]$ 28830 $ 25607 $ 22,191 $ 18569 $ 18078 $ 17,693 $ 17,297 $ 16,968 $ 16,724
Total liabilities $ 56,987]$ 48,570]$ 48,633|/$ 56,557]$ 53,317/$ 50,939 $ 48110 $ 45,062 $ 41,838 $ 38424 $ 38,137 $ 37,933 $ 37,844 $ 37,775
Net community assets $ 1,089,797 | $ 1,095,213 | $ 1,098,905 | $ 1,119,217 | $ 1,121,563 | $1,149,648 $1,175,224 $1,201,793 $1,227,638 $1,253,401 $1,279,548 $1,306,171 $1,333,587 $ 1,361,354
saaatepaaiy COTE
Asset revaluation surplus $ 86,524|$ 85,293]$ 985,293]$ 103,738] $ 103,738]$ 121,536 $ 139,987 $ 159,010 $ 178630 $ 198,737 $ 219,335 $ 240,484 $ 262,178 $ 284,425
Retained surplus $ 1,003,273 | $ 1,009,920 | $ 1,013,612 | $ 1,015,479 | $ 1,017,825 | $1,027,734 $1,034,857 $1,042,403 $1,048,629 $1,054,284 $1,059,834 $1,065,308 $1,071,029 $1,076,550
Total community equity $ 1,089,797 | $ 1,095,213 | $ 1,098,905 | $ 1,119,217 | $ 1,121,563 | $ 1,149,269 $1,174,844 $1,201,414 $1,227,259 $1,253,022 $1,279,169 $1,305,791 $1,333,207 $ 1,360,975
Page 25 of 43Section 26
Page 26 of 43
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
PAnuaresut ctu ST oe Tent [ere | ers forecast
Annual Result Actual Budget
2020 Plova 2021 Ply 2021 yliya) 2023 yliye | 2025 2026 2027 yltys) 2029 2030
Statement of Cash Flows Cme18) $,000 Emel] 0) $,000 Emel] 0) $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000
Receipts from customers $ 91168] $ 83296] $ 83309] $ 82924] $ 86722|$ 88964 $ 92469 $ 95407 $ O7970 §$ 100640 $ 103355 $ 106,174 $ 108,916 $ 111,816
Payments to suppliers and employees ($ 82,671) 1{$ 76,649) |($ 77,358) |($ 81,041) 1($ 83,054) |($ 82,164) ($ 84,559) ($ 86,952) ($ 89,048) ($ 91,563) ($ 94,062) ($ 96,550) ($ 99,906) ($ 103,109)
Dividend received $ 3,254] $ 3050] $ 3050]$ 3050]/$ 3050]/$ 3050 $ 3050 $ 3050 $ 3050 $ 3050 $ 3050 $ 3050 $ 3,050 $ 3,050
Interest received $ 3,937 | $ 3470) $ 3470) $ 3470|$ 3470) $ 3476 $ 3447 $ 3428 $ 3412 $ 3423 $ 3447 $ 3465 $ 3486 $ 3,508
Rental income $ 1003] $ 1,200) $ 1,199] $ 1194] $ 1191]/¢ 1380 $ 1469 $ 1509 $ 1539 $ 1571 $ 1602 $ 1634 $ 1,666 $ 1,700
Non-capital grants and contributions $ 5315] $ 5418] $ 57521$ 6087|$ 6141]$ 5265 $ 5090 $ 5081 $ 5079 $ 5080 $ 5080 $ 5081 $ 5079 $ 5,080
Borrowing costs ($ 143) 1($ = 1,126) |($ = 1,126) |($ = 1,092) 1($ = 1,092) | ($ 931) ($ 767) ($ 587) ($ 393) ($ 188) ($ 90) ($ 77) ($ 65) ($ 54)
Other cash flows from operating activities $ = $ = $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ = $ -
Net cash flow from operating activities $ 18658] $ 18,296]$ 14592] $ 16428] $ 19039 $ 20,199 $ 20937 $ 21609 $ 22013 $ 22,383 $ 22,778 $ 22,227 $ 21,991
Cash flows from investing activities
Payments for property, plant and equipment ($ 23,830) |($ 23,259) |(@ 31,419) ]($ 31,529) ]($ 27,380) |($ 30,189) ($ 25,865) ($ 26,784) ($ 20,776) ($ 20,586) ($ 23,221) ($ 22,539) ($ 22,473) ($ 22,749)
Payments for intangible assets ($ 2,088) |($ 1,364) /($ 1,449) |($ 1,449) ]($ 1,449) ](¢ 600) ($ 250) ($ 250) ($ 250) ($ 250) ($ 250) ($ 250) ($ 250) $ es
Grants, subsidies, contributions and donations $ 8.640] $ 8775] $ 128611 $ 13162]$ 13498] $ 8395 $ 5012 $ 5236 $ 3762 $ 3312 $ 3312 $ 3312 $ 3612 ¢$ 3,312
Other cash flows from investing activities $ 125 | $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ = $ 5
Net cash flow from investing activities ($ 16,870) |($ 15,848) |($ 20,007) |($ 19,816) |($ 15,330) |($ 22,394) ($ 21,103) ($ 21,798) ($ 17,264) ($ 17,524) ($ 20,159) ($ 19,477) ($ 19,111) ($ 19,437)
Cash flows from financing activities
Proceeds from borrowings $ - $ 634201 $ 3420|$ 3420] $ = $ 440 ¢ - $ - $ - $ - $ - $ - $ - $ -
Repayment of borrowings ($ 3,950) |($ 2.636) ]($ 2,636) 1($ 2,670) ]($ 2 670)]($ 2,831) ($ 3,043) ($ 3,222) ($ 3417) ($ 3,622) ($ 491) ($ 385) ($ 396) ($ 328)
Net cash flow from financing activities $ 784 | $ 784 | $ 750 |($ 2,670) |($ 2,391) ($ 3,043) ($ 3,222) ($ 3,417) ($ 3,622) ($ 491) 385) ($ 396) ($ 328)
Total cash flows
Net change in cash and cash equivalent held 1$ = 1,043 | $ 3,594 | ($ 926) |($ 4,474) |($ 1,573) |($ 5,746) ($ 3,946) ($ 4,083) $ 928 $ 867 $ 1,732 $ 2,916 $ 2,719 $ 2,226
Opening cash and cash equivalents $ 55,981] $ 43,942 |$ 43.942 | 5 57,024 | $ 57,024] $ 55451 $ 49,705 $ 45,759 $ 41675 $ 42603 $ 43,470 $ 45,202 $ 48,118 $ 50,837
Closing cash and cash equivalents |$ 87,024] $ 47536|$ 43,016|$ 52550] $ 55,451|$ 49,705 $ 45,759 $ 41675 $ 42,603 $ 43470 $ 45,202 $ 48,118 $ 50,837 $ 53,062
Page 26 of 43Section 27
Page 27 of 43
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
Original
Annual Result Budget
2020 Palys 2021 2021 yal ya vale a4 PAL 2024 yal As) 2026 Pala g 2028 2029 Pale
Statement of Changes in Equity Ce CUT! eT ea! CeUTITH Cay! eT Cm! $,000 ETT! Ce Cay! ERITH CMU!
Opening balance $ 50,809/$ 68,337]$ 68,337|$ 86,524]$ 986,524]$ 103,738 $ 121,536 $ 139,987 $ 159,010 $ 178,630 $ 198,737 $ 219,335 $ 240,484 $ 262,178
Change in asset revaluation surplus $ 35,715|$ 16,956]$ 16,956|$ 17,214]$ 17,214]$ 17,797 $ 18452 $ 19,023 $ 19,620 $ 20,107 $ 20,598 $ 21,149 $ 21,694 $ 22,247
Closing balance $ 86,524/$ 85,293]$ 95,293|$ 103,738]$ 103,738]$ 121,536 $ 139,987 $ 159,010 $ 178,630 $ 198,737 $ 219,335 $ 240,484 $ 262,178 $ 284,425
Retained surplus
Opening balance $ 991,767 | $ 1,000,964 | $ 1,000,964 | $ 1,003,273 | $ 1,003,273 | $1,017,825 $1,027,734 $1,034,857 $1,042,403 $1,048,629 $1,054,284 $1,059,834 $1,065,308 $1,071,029
Net result $ 11,506/$ 8956]$ 12,648]/$ 12,206]$ 14,551|$ 9,909 $ 7,123 $ 7,547 $ 6225 $ 5656 $ 5550 $ 5474 $ 5,722 $ 5,521
Closing balance $ 1,003,273 | $ 1,009,920 | $ 1,013,612 | $ 1,015,479 | $ 1,017,825 | $ 1,027,734 $1,034,857 $1,042,403 $1,048,629 $1,054,284 $1,059,834 $1,065,308 $1,071,029 $1,076,550
Total
Opening balance $ 1,042,576 | $ 1,069,301 | $ 1,069,301 | $ 1,089,797 | $ 1,089,797 | $1,121,563 $1,149,269 $1,174,844 $1,201,414 $1,227,259 $1,253,022 $1,279,169 $1,305,791 $1,333,207
Net result $ 11506/$ 8956]/$ 12.648]$ 12,206]/$ 14551/$ 9,909 $ 7123 $ 7,547 $ 6225 $ 5656 $ 5550 $ 5474 $ 5722 $ 5,521
Change in asset revaluation surplus $ 35,715|$ 16,956]$ 16,956]$ 17,214]$ 17,214]$ 17,797 $ 18452 $ 19,023 $ 19,620 $ 20,107 $ 20,598 $ 21,149 $ 21,694 $ 22,247
Closing balance $ 1,089,797 | $ 1,095,213 | $ 1,098,905 | $ 1,119,217 | $1,121,563 | $ 1,149,269 $1,174,844 $1,201,414 $1,227,259 $1,253,022 $1,279,169 $1,305,791 $1,333,207 $ 1,360,975
Page 27 of 43Section 28
Page 28 of 43
Noosa Shire Council
2020/21 Budget Statements
For the period ending 30 June
Budget Target
Pity!) 2021 PAPA PLP 4 PAPA PAUP PAUP yp} 2025 2026 Vip 4 2028 Pid: PAIK)
Operating Surplus Ratio 0.0% -1.9% -2.3% -3.0% -0.9% 0-40% -0.5% 0.1% 0.3% 0.4% 0.3% 0.2% 0.1% 0.1% 0.2%
Net Financial Liabilities Ratio -9.4% -11.1% -6.3% -8.5% -14.5% <60% -11.2% -10.1% -9.2% -12.9% -16.6% -18.2% -20.6% -22.6% -24.2%
Asset Sustainability Ratio 108.4% 87.5% 101.5% 100.1% 96.1% >90% 134.8% 122.3% 124.4% 92.7% 90.2% 95.7% 94.7% 97.5% 98.3%
Operating Surplus Ratio
Measures the extent to which revenues raised cover operational expenses
only or are available for capital funding purposes or other purposes.
Calculation: Net operating result divided by total operating revenue, expressed as a % (excluding capital revenue or expenses).
Target: between 0% and 10%.
Net Financial Liabilities Ratio
Measures the extent to which the net financial liabilities of Council can
be repaid from operating revenues.
Calculation: (total liabilities less current assets) divided by
total operating revenue, expressed as a %.
Target: not greater than 60%.
Asset Sustainability Ratio
This ratio reflects the extent to which the assets managed by Council
are being replaced as they reach the end of their useful lives.
Calculation: capital expenditure on the replacement of infrastructure assets
(renewals) divided by depreciation expense, expressed as a %.
This includes infrastructure as well as plant and equipment.
Intangibles are excluded.
Target: greater than 90%.
Page 28 of 43Section 29
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
5 FINANCIAL PERFORMANCE REPORT – MARCH 2021
Author Manager Financial Services, Trent Grauf
Corporate Services Department
Index ECM/ Subject/ 22.09 – Monthly Financial Performance Report
Attachments 1. Statement of Income and Expenditure (Profit & Loss and Capital)
2. Statement of Financial Position
3. Statement of Cash Flows
4. Summary of Materials and Services Expenditure
EXECUTIVE SUMMARY
Year to date (YTD) operating performance against current budget as at 31 March 2021 is positive,
with operating revenues performing above forecast due largely to Council facilities and business
activity sales outperforming COVID-19 budget assumptions. Budget Review 3 (BR3), which is
detailed in a separate report included in the April 2021 General Committee Agenda, includes a
number of proposed budget adjustments which will if endorsed be incorporated into next month’s
financial performance report.
YTD Financial Performance Summary
Budget Actual Variance Variance Status
$m $m $m %
Operating Revenue $87.5 $92.8 $5.3 6.1% On Track
Operating Expense $72.0 $72.1 -$0.1 -0.1% On Track
Operating Position $15.5 $20.7 $5.2 33.5%
Capital Revenue $5.8 $9.1 $3.3 56.2% Above Budget
Capital Expenditure $16.3 $16.9 -$0.6 -3.8% On Track
Financial statements including Statement of Income & Expenditure, Statement of Financial Position
(balance sheet), and Statement of Cash Flows are included as attachments for information for
Council.
Figure 1: Actual Performance Compared to Budget
$100
$92.8 YTD Budget ($m)
$87.5
$90
YTD Actual ($m)
$80
$72.0 $72.1
$70
$60
$50
$40
$30
$20
$10
$-
Operating Revenue Operating Expenditure
Page 29 of 43
Section 30
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Council’s performance against key measures of financial sustainability have been calculated as at
31 March 2021. These indicators enable the reader to assess Council’s success in managing its
budget, cash and debt as well as undertaking sustainable asset management. The table below
contains a snapshot of a number of key measures, with full detail included in the report.
YTD Measures of Financial Sustainability
Target Current Actual YTD
Budget
Operating Surplus Ratio 0-10% -3.0% 22.4% On Track
Net Financial Liabilities Ratio < 60% -8.5% -43.0% On Track
Cash Cover Ratio 3 months 7.9 months 12.2 months Above Target
Asset Sustainability Ratio > 90% 100.1% 62.3% On Track
RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 12 April 2021 outlining March 2021 year to date financial performance against budget,
including performance against key financial sustainability indicators.
REPORT
Operating Revenue (YTD Benchmark 75.0%)
Council has received 96% ($92.8 million) of its operating revenue budget ($96.9 million).
Commentary on each revenue category is provided below.
Category Summary Comments
Rates and Levies $69.3 million (101%) of the Waste utility charges $844k above YTD budget
annual budget of $68.4 (107% or $13.2 million of $12.4 million budget
million has been earned earned), due to recovery of collection services
previously impacted by the COVID-19 pandemic
General rates $115k above YTD budget (100% or
$52.2 million of $52.1 million budget earned)
Fees and $5.8 million (87%) of the $6.6 Development assessment fees $217k above YTD
Charges million annual budget has budget (89.3 % or $1.4 million of $1.6 million
been earned budget earned) – offset by additional costs
Building application fees $169k above YTD
budget (99% or $658k of $667k budget earned)
Waste Management fees $93k above YTD
budget (106% or $188k of $177k budget earned)
Sale of Goods $8.5 million (117%) of the Holiday Park sales $1.65 million above YTD
and Services $7.3 million budget has been budget (175% or $2.9 million of $1.6 million
received budget earned) – Parks reopened earlier than
forecast following COVID-19 pandemic closures.
Positive revenue variances that hold through the
financial year will be offset in part by additional
variable operating costs including park
commissions
Community Facilities (NAC, NLC and The J)
$966k above YTD budget (133% or $1.93 million
of $1.45 million budget earned) – Facilities
reopened earlier than forecast following COVID-
19 pandemic closures. Positive revenue
variances that hold through the financial year will
Page 30 of 43
Section 31
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Category Summary Comments
be offset in part by additional variable operating
costs
Waste management disposal fees and sale of
recoverable materials $552k above YTD budget
(88% or $3.5 million of $4.0 million budget
earned)
Interest $618k (71%) of the $870k Interest revenues on cash invested will need
Received annual budget has been ongoing monitoring given further recent interest
earned rate cuts and impacts on term deposit / cash fund
rates
Unitywater On track Nil
Dividend and
Tax
Other Revenue $1.8 million (91%) of the $2.0 Recoupment of Unitywater charges from lessees
million budget has been $140k above YTD budget - offset by additional
earned utility charge expenses
Commercial lease revenue $142k above YTD
budget (93% or $857k of $919k budget earned)
Operating $3.8 million (62%) of the $6.1 50% ($1.2 million) of the financial assistance
Grants, million budget has been grant was prepaid in May 2020 and may impact
Subsidies received on Council’s 2020/21 final operating position if the
prepayment approach is discontinued by the
Australian government
All operating grants are in line with budget
expectations at this stage
Unitywater On track Unitywater distributions are fixed each year so
Distributions there is little budget variance risk
Figure 2: Operating Revenue Position by Type (Excluding Rates)
$9.0 $8.5
$8.0
YTD Budget ($m)
$7.0
$5.7 YTD Actual ($m)
$6.0 $5.0 $5.3
$5.0
$4.0 $3.6 $3.8
$3.0 $3.0
$3.0
$2.0
$0.6 $0.9 $1.1
$1.0 $0.6 $0.6 $0.7
$0.0
Charges
Other
Income
Grants
Goods &
Unitywater
Services
Sales of
Rental
Interest
Fees &
Share of
Page 31 of 43
Section 32
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Operating Expenditure (YTD Benchmark 75.0%)
Actual operating expenditure is currently 72% ($72.0 million) of full year budget ($99.9 million).
Detailed commentary for each expenditure category is provided below.
Category Summary Comments
Employee $24.8 million (71%) of the Under expenditure for permanent staff salaries
Costs annual budget of $34.8 and wages ($2.3 million) partially offset by
million has been expended additional spend on casual staff and external
labour hire ($969k) as well as overtime and
allowances ($195k)
Training expenditure $56k below YTD budget
(21% or $69k of $330k budget spent)
Materials and $31.8 million (71%) of the Libraries services $102k below YTD budget
Services $44.5 million annual budget (51.6% or $558k of $1.1 million budget spent) –
has been expended primarily due to timing of library collection
purchases and programs
Parks and Landscape $65k below YTD budget
(71% or $3.3 million of $3.4 million budget spent)
– timing of maintenance and utilities
Council buildings and facilities $58k below YTD
budget (53.9% or $560k of $1.0 million budget
spent) – timing of utilities as well as scheduled
maintenance and cleaning services
Waste Management costs $54k below YTD
budget (73.6% or $7.2 million of $9.8 million
budget spent) – collection bin purchases lower
than forecast (offset by lower revenue recovery)
Development application costs $53k above YTD
budget (100% or $210k of $210k budget spent) –
offset by additional application revenues
Noosa Aquatic Centre $106k above YTD budget
(89.5% or $575k of $643k budget spent) –
variable operating costs from facility reopening
earlier than budgeted following COVID-19
pandemic related closures - offset by additional
revenues
Schoolies event related costs $80k unbudgeted
Governance legal fees $260k unbudgeted
Holiday parks $489k above YTD budget (130%
or $1.1 million of $861k budget spent) – variable
operating costs (including commissions) from
parks reopening earlier than budgeted following
COVID-19 pandemic related closures - offset by
additional revenues
Finance Costs On track Nil
Depreciation On track Nil
Other Expenses On track Nil
Page 32 of 43
Section 33
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Figure 3: Operating Expenditure Position by Type
$35.0
$31.1 $31.8
$30.0 YTD Budget ($m)
$25.3 $24.8
$25.0 YTD Actual ($m)
$20.0
$14.2 $14.2
$15.0
$10.0
$5.0
$1.2 $1.1
$0.1 $0.2
$0.0
Finance Costs
Materials
Depreciation
Employees
Other
Capital Revenue
YTD capital revenue of $9.1 million received comprises cash contributions from developers ($1.4
million) and capital grants ($7.5 million). Note that the timing of capital grant receipts are generally
dependent on the timing of grant conditions and also capital delivery performance, and that the timing
of the receipt of developer contributions (both cash and contributed) is unpredictable.
Figure 4: Capital Revenue by Type
$8.0 $7.5
$7.0
YTD Budget ($m)
$6.0
YTD Actual ($m)
$5.0 $4.3
$4.0
$3.0
$2.0 $1.4 $1.4
$1.0
$0.1 $0.2
$0.0
Subsidies
Contributions
Contributed
Grants /
Assets
Cash
Page 33 of 43
Section 34
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Capital Program
Actual capital expenditure (excluding commitments) is $16.9 million (YTD budget $16.3 million).
Detailed discussion of progress in the delivery of the capital works program is provided through a
separate report by the Asset Planning Manager.
Figure 5: Capital Program Delivery Performance
$14.0
$12.7
$11.9
$12.0 YTD Budget ($m)
YTD Actual ($m)
$10.0
$8.0
$6.0
$4.0
$2.4 $2.4
$1.9 $1.7
$2.0
$0.0
Capital works Other capital Loan redemption
Cash Management and Investment Performance
Total cash on hand at the end of March was $80.9 million. Included in this balance are funds held in
trust and for restricted purposes (e.g. unexpended levy and grant funds), cash inflows from the
January rate levy, prepaid grants including the financial assistance grant and other capital works
grants, as well as any other monies committed for funding capital projects which are underway and
will continue during the financial year.
The following pie charts present the mix of cash held at March 2021 by agency (graph on the left)
and by credit risk rating (graph on the right). All funds have been invested in accordance with the
Investment Policy and in consideration of the principles of ethical investment, preservation of capital,
return on investment and counterparty thresholds.
Figure 6: Closing Cash Held by Agency and Credit Rating
CBA A1 +
4% (Commercial Banks)
4%
A1 +
QTC (QTC)
96% 96%
Page 34 of 43
Section 35
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
The following chart monitors the 12-month trend on total cash and the agencies invested. Payments
received in February through to March from bi-annual rates generated a significant increase in cash,
which was has been invested in short term QTC deposits in line with Council’s Investment Policy.
Figure 7: 12 Month Trend of Cash Invested by Agency
100,000,000
90,000,000
80,000,000
70,000,000
60,000,000
50,000,000
40,000,000
30,000,000
20,000,000
10,000,000
-
Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21
Bendigo TD Westpac TD NAB TD Suncorp TD CBA TD QTC CBA Operating
Measures of Financial Sustainability
The following table incorporates a set of financial sustainability indicators to further assist in
managing Council financial performance. There are no current emerging risks regarding financial
performance year to date.
Category Comments
Operating Surplus Ratio Intent: Identifies the extent to
90% which revenues cover operational
80%
77.3% expenses, to ensure community
70%
equity is not degraded.
59.1%
60% Target: 0 – 10%
50% 43.2% Result: 22.4%
37.9%
40% 30.9% 30.7% Comment: The ratio will decline
30% 22.4% from February to June as the
20% 15.7%
January rates are expended on
10% 4.6%
delivery of Council services.
0%
-10%
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Actual Budget Minimum Target
Page 35 of 43
Section 36
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Category Comments
Cash Expense Cover Intent: Indicates how long
14.0 Council can continue paying its
12.5 12.2 day-to-day expenses from cash
Months (Cash to Cover Operations)
11.5
12.0 11.1
10.2
10.7
10.1
at bank without needing
9.7
10.0
9.5
8.7 9.1 additional cash flows.
8.6
Target: > 3 months
8.0
Result: 12.2 months
6.0
Comment: Whilst current cash
4.0 cover remains above target,
2.0
business as usual expenditure
and any other unforeseen
- - - - - - - - - - - - - financial impacts through to 30
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
June 2021 will degrade Council’s
Actual Minimum (>0 months) cash holdings.
Target (3 months) Maximum (6 months)
Asset Sustainability Ratio Intent: Measures the extent to
120% which assets are being replaced
100.1% as their condition degrades to
100% ensure service potential is
90% maintained.
80%
Target: 90% of depreciation
59% 60% 62%
60% 55% budget spent on renewals
45% annually
34%
40% 29% Result: In line with budget
20% 13% Comment: The ratio will
1% progressively increase each
0% month as expenditure on asset
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun renewals occurs as part of the
Actual Renewal Spend (%) Target (%) Renewals Budget (%)
capital works program.
Net Financial Liabilities Ratio Intent: Outlines the level that net
Council debt can be serviced by
80%
operating revenues. A ratio below
60%
60% zero implies that liabilities are
less than cash (and other current
40% assets) and there is adequate
borrowing capacity available if
20% needed.
Target: less than 60%
0%
Target Budget YTD Actual Result: -43%
-20% -8% Comment: Council has low debt
levels and strong cash holdings.
-40%
The ratio will reduce through to
-43%
-60%
June as cash is expended on
capital and operational activities.
Page 36 of 43
Section 37
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Category Comments
Investment Return Intent: Ensure appropriate return
on investment yield for cash at
bank.
Target: 0.25% above current
Bloomberg commonwealth 10
year bond rate yield (0.00%)
Result: 0.69%
Comment: Regardless of the
current levels of low long term
bond and interest rates (due to
current economic conditions),
Council’s investment return still
remains above target.
Rates in Arrears Intent: Ensuring that the amount
of unpaid rates remains
12.0%
Percentage of Annual Rates in Arrears
sustainable and does not
9.6% 9.5% negatively impact cash flows.
10.0%
7.5% Target: 5% industry benchmark
8.0% 6.9% 7.1%
6.5%
6.0% 5.8% 5.7% Result: 9.5%
5.8%
6.0%
4.5%
5.0% Comment: Arrears are at the
high point in the cycle with
4.0%
January rates due in March.
2.0% Reminder notices are currently
being issued with further debt
0.0% recovery initiatives underway.
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Actual Target
Previous Council Consideration
Nil.
Finance
As above.
Risks & Opportunities
Council’s risk register includes a number of risks that could impact on ongoing financial sustainability.
Effective budget management and reporting is an important risk mitigation tool.
Consultation
External Consultation - Community & Stakeholder
Nil.
Internal Consultation
All areas of Council are consulted as part of the regular monitoring of budget performance.
Page 37 of 43
Section 38
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Departments/Sections Consulted:
X Chief Executive Officer X Community Services X Corporate Services
Executive Support Director X Director
Community Development X Financial Services
Community Facilities Fleet
Libraries & Galleries ICT
Local Laws Procurement
Waste & Environmental Health Property
Revenue Services
X Executive Services X Environment & Sustainable Development X Infrastructure Services
Director Director Director
Community Engagement Building & Plumbing Services Asset Management
Customer Service Development Assessment Buildings and Facilities
Governance Economic Development Civil Operations
People and Culture Environmental Services Disaster Management
Strategic Land Use Planning Infrastructure Planning,
Design and Delivery
Page 38 of 43
Section 39
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 39 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Noosa Council ATTACHMENT 1
Statement of Income and Expenditure
For the Year Ended 30 June 2021
As at 31 March 2021
Current Current
Budget Budget Actual Variance Annual
2021 YTD YTD YTD Budget
($'000) ($'000) ($'000) ($'000) %
Profit and Loss Statement
Revenue
Recurrent Revenue
Rates, levies and charges 68,388 68,371 69,313 943 101%
Fees and charges 6,640 5,029 5,747 718 87%
Interest received 870 592 618 Z5 71%
Sale of Goods and major services 7,281 3.327 8,506 3)179 117%
Sale of contract and recoverable works 23 - o 5 24%
Rental & lease income 1,197 918 1,079 161 90%
Other income 796 639 726 87 91%
Grants, subsidies, contributions and donations 6,115 3,602 3,788 186 62%
Unitywater Distributions 5,650 3,025 3,025 : 54%
96,958 87,504 92,807 5,304 96%
Expenses
Recurrent Expenses
Employee benefits 34,752 25,292 24,760 532 71%
Materials and services 44,473 31,142 31,779 (637) 71%
Finance costs 1,538 1,162 1,089 72 71%
Depreciation 18,963 14,222 14,236 (14) 75%
Other expenses 189 144 195 (51) 103%
99,915 71,961 72,060 (98) 72%
Operating Result (2,957) 15,542 20,747 5,205
Summary of Capital Expenditure and Funding
Capital Funding
Capital cash contributions and infrastructure charges 1,521 1,411 1,441 30 95%
Contributed assets 2,000 132 205 72 10%
Capital grants and subsidies 11,642 4,297 7,466 3,169 64%
Cash / revenue 18,810 10,558 9,316 (1,242) 50%
New loan borrowings 3,420 - - - 0%
Other capital revenue - - 12 12 0%
Total Capital Funding 37,392 16,398 18,441 2,042
Capital Expenditure
Contributed assets 2,000 132 205 72 10%
Capital works - constructed assets 28,912 11,925 12,741 816 44%
Capital works - other capital 4,066 1,928 1,724 (204) 42%
Loan redemption 2,414 2,414 2,414 - 100%
Other capital expenses - - 1,357 1,357 0%
Total Capital Expenditure 37,392 16,398 18,441 2,042
Page 39 of 43Section 40
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 40 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Noosa Council ATTACHMENT 2
Statement of Financial Position
For the Year Ended 30 June 2021
As at 31 March 2021
2021 Year End
Forecast 2021 YTD 2020
($'000) ($'000) ($'000)
Current Assets
Cash and cash equivalents 52,550 80,888 57,023
Trade and other receivables 9,117 8,596 5,440
Inventories 181 181 181
Contract Assets - 27 27
Other current assets 2,912 2,955 4,732
64,760 92,647 67,403
Non Current Assets held for sale @ - >
Total Current Assets 64,760 92,647 67,403
Non Current Assets
Trade and other receivables 49,593 49,593 49,593
Investments 88,040 88,040 88,040
Investment property 3,000 3,000 3,000
Property, plant and equipment 961,982 927,832 929,355
Right of Use Assets = 161 161
Intangible assets 8,400 8,025 7,635
Total Non Current Assets 1,111,014 1,076,650 1,077,783
Total Assets 1,175,774 1,169,297 1,145,186
Current Liabilities
Trade and other payables 6,512 11,693 10,642
Contract Liabilities - 1,568 1,568
Borrowings 3,152 87 3,023
Lease Liablities - 54 54
Provisions 7,582 2,640 4,630
Other 4,780 939 1,561
Total Current Liabilities 22,026 16,981 21,478
Non Current Liabilities
Borrowings 19,114 18,493 18,493
Lease Liabilities 110 110 110
Provisions 15,307 15,399 15,307
Total Non Current Liabilities 34,531 34,002 33,910
Total Liabilities 56,557 50,983 55,388
Net Community Assets 1,119,217 1,118,313 1,089,798
Community Equity
Asset Revaluation Surplus 103,738 86,525 86,525
Retained Surplus / (Defeciency) : : =
Shire Capital 1,015,479 1,003,273 992,284
Current Year Net Earnings = 28,515 10,989
Total Community Equity 1,119,217 1,118,313 1,089,798
Page 40 of 43Section 41
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 41 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Noosa Council ATTACHMENT 3
Statement of Cash Flows
For the Year Ended 30 June 2021
As at 31 March 2021
Current Actual Actual
Budget YTD Full Year
2021 2021 2020
($'000) ($'000) ($000)
Cash flows from operating activities
Cash Flows from Operating Activities
Receipts from Customers 82,924 85,820 91,168
Payments to Suppliers and Employees (81,041) (61,371) (82,671)
1,883 24,448 8,498
Receipts:
Investment and Interest Revenue Received 3,470 1,728 3,937
Rental Income 1,194 1,079 1,003
Non Capital Grants and Contributions 6,087 3,788 5,315
Income Tax Equivalent Received 1,200 1,050 1,857
Income from Equity Investments 1,850 865 1,396
Payments:
Borrowing Costs - - -
Interest Expense (1,092) (109) (143)
Net Cash Inflow/(Outflow) from Operating Activities 14,592 32,849 21,861
Cash Flows from Investing Activities
Receipts:
Proceeds of Sale of Property, Plant and Equipment - 217 284
Grants, Subsidies, Contributions and Donations 13,162 8,908 8,640
Payments:
Payments of Property, Plant and Equipment (31,529) (13,501) (24,208)
Payments for Intangible Assets (1,449) (970) (1,710)
Net Movement in Loans and Advances - 125 125
Net Cash Inflow/(Outflow) from Investing Activities (19,816) (5,222) (16,869)
Cash Flows from Financing Activities
Receipts:
Proceeds from Borrowings 3,420 - -
Payments:
Repayment of Borrowings (2,670) (3,762) (3,950)
Net Cash Inflow/(Outflow) from Financing Activities 750 (3,762) (3,950)
Net Increase/(Decrease) in Cash and Cash Equivalents held (4,474) 23,864 1,042
Cash and Cash Equivalents at the beginning of the reporting period 57,024 57,023 55,981
Cash and Cash Equivalents at the end of the reporting period 52,550 80,887 57,023
Page 41 of 43Section 42
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Page 42 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
Noosa Council ATTACHMENT 4
Summary of Key Materials and Services Expenditure
For the Year Ended 30 June 2021
As at 31 March 2021
Current Current
Budget Budget Actual Variance Annual
2021 YTD YTD YTD Budget
($'000) ($'000) ($'000) ($'000) %
Materials and services
Advertising and Marketing 202 141 119 22 59%
Administration Supplies and Consumables 683 477 420 58 61%
Audit Expenditure 160 48 48 (0) 30%
Communications and IT 678 499 486 13 12%
Commission Paid 605 465 808 (343) 134%
Consultancy Services 928 538 733 (194) 79%
Contract Services 21,968 14,675 15,029 (353) 68%
Contributions, Donations, Sponsorship and Prizes 3,387 3,336 3,314 22 98%
Electricity 1,639 1,207 1,130 77 69%
Internal Fleet Costs and External Plant Hire 1,615 1,086 1,343 (257) 83%
Grants Paid to Community Organisations 1,552 956 964 (8) 62%
Insurance 625 611 623 (11) 100%
Legal Expenses 1,105 780 1,126 (345) 102%
Operating Leases and Rentals 256 184 203 (19) 79%
Software and Maintenance 2,003 1,491 1,411 80 70%
Subscriptions and Registrations 263 210 251 (41) 96%
Waste Levy Payments 1,185 880 985 (105) 83%
Water and Sewerage Charges 1,091 803 673 130 62%
All Other Materials and Services 4,528 2,t52 2,114 638 47%
44,473 31,142 31,779 (637) 71%
Page 42 of 43Section 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
7 CLOSED SESSION
Nil.
Page 43 of 43
GENERAL COMMITTEE MEETING AGENDA 12 APRIL 2021
7 CLOSED SESSION
Nil.
Page 43 of 43