07 Financial Performance Report - Jan 2025

GENERAL COMMITTEE MEETING                                                          17 FEBRUARY 2025


 Category           Summary                        Comments
                                                         •   Waste Management $428.1 below budget
                                                             (51.7% or $7.7 million of $14.8 million
                                                             annual budget spent)
                                                         •   Arts & Culture $131.1k below budget
                                                             (46.9% or $1.2 million of $2.6 million annual
                                                             budget spent)
                                                         •   Property and facilities $94.4k below budget
                                                             (55.4% or $1.6 million of a $2.8 million
                                                             annual budget spent)
                                                         •   Development Assessment $73.5k below
                                                             budget (65.7% or $862.6k of a $1.3 million
                                                             annual budget spent)
                                                         •   Buildings and Facilities $56.8k below
                                                             budget (47.6% or $588.5k of a $1.2 million
                                                             annual budget spent)
 Finance Costs      Currently on track                   •   Whilst existing loan borrowings are set with
                                                             fixed interest rates, any further RBA rate
                                                             rises will impact finance costs on new loan
                                                             borrowings. YTD underspend also relates
                                                             to the timing of drawdown of forecast
                                                             borrowings for FY 2025.
 Depreciation       Currently on track             Nil
 Other Expenses     Currently on track             Nil

Figure 3: Operating Expenditure Position by Type




Tourism and Economic Development Investment Summary
Council resolved to report on a monthly basis, investment details for tourism and economic
development. Tourism and economic development activity is funded through the general rates
revenue. Expenditure at 31 January 2025 is outlined below:
 Expenditure                                             YTD Budget         YTD Actual          Variance
                                                              $’000              $’000             $’000
 Tourism Noosa Funding Agreement                             $2,520.0          $2,520.0                  -

 Economic Development                                         $601.2             $571.1             $30.1

 Total                                                       $1,918.8          $1,948.9             $30.1

All instalments payable under the Tourism Noosa agreement for the 2024-25 financial year have
been made. The Tourism Noosa agreement is due for renewal in June 2025.