07 Financial Performance Report - Jan 2025

GENERAL COMMITTEE MEETING                                                         17 FEBRUARY 2025


REPORT
Operating Revenue (YTD Benchmark 58.3%)
Council has received 88.9% ($125.5 million) of its operating revenue budget ($141.3 million).
Commentary on each revenue category is provided below.

 Category          Summary                   Comments
 Rates and         $95.5 million (101.3%)       •   Waste utility charges $212.9k above YTD budget
 Levies            of the annual budget of          (101.52% or $17.3 million of $17.0 million annual
                   $94.3 million has been           budget earned)
                   earned                       •   General rate (net of discounts) $236.1k below
                                                    YTD budget (101.3% or $72.1 million of $71.2
                                                    million annual budget earned)

 Fees and          $6.6 million (60.1%) of      •   Building & Plumbing Compliance $127.2k above
 Charges           the annual budget of             budget (62.3% or $1.6 million of $2.6 million
                   $10.9 million has been           annual budget earned)
                   earned                       •   Waste $58.6k above budget (152.1% or $86.6k
                                                    of $56.9k annual budget earned)
                                                •   Development Assessment $348.9k below
                                                    budget (55.9% or $2.0 million of $3.6 million
                                                    annual budget earned)

 Sale of Goods     $9.8 million (61.7%) of      •   Sports facility revenue $206.7k above budget
 and Services      the annual budget of             (66.3% or $1.9 million of $2.9 million annual
                   $15.9 million has been           budget earned)
                   earned                       •   Holiday Park revenue $65.2k above budget
                                                    (66.9% or $2.9 million of $4.3 million annual
                                                    budget earned). Any revenue upside will be
                                                    generally offset by a corresponding increase in
                                                    associated operating costs.

 Interest          $3.7 million (105.4%)        •   Interest revenues have continued to track above
 Received          of the $3.6 million              budget with investment in higher yielding term
                   annual budget has                deposits maximising the return on surplus cash
                   been earned                      holdings. Cash holdings remain high due to the
                                                    advanced payment of grants & subsidies,
                                                    restricted levy balances, future provision
                                                    balances and delays in the delivery of the capital
                                                    works program.
 Other Revenue     $2.3 million (70.7%) of      •   Plant recharge revenue is $84.7k above budget
                   the $3.2 million                 due to internal plant being utilised for the delivery
                   annual budget has                of disaster funded capital projects.
                   been earned                  •   Royalty income from landfill gas $22.4k above
                                                    budget (88.5% or $51.5k of $58.1k annual
                                                    budget earned)
                                                •   Recoupment of Waste Bin (SULO) purchases
                                                    $35.6k above budget (63.9% or $66.0k of
                                                    $103.3k annual budget earned.

 Operating         $4.2 million (59.3%) of      •   Operating Grants and subsidies are in line with
 Grants,           the $7.1 million                 budget expectations at this stage of the year.
 Subsidies         annual budget has            •   $1.4 million of the FY 2025 financial assistance
                   been received                    grant allocation was received in July 2024. This
                                                    is a change from the previous approach of
                                                    prepaying part or all of the grant in the preceding