Financial Performance Report – Jun 2025 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                               14 JULY 2025


 Category            Summary                   Comments
 Other Revenue       $3.4 million (106.3%)        •   Plant recharge revenue is $120.1k above
                     of the $3.2 million              budget due to internal plant being utilised for
                     annual budget has                the delivery of disaster funded capital projects
                     been earned                  •   $95.0k recoupment of legal costs from
                                                      development assessment appeal
                                                  •   $92.9k partnership revenue for Cascading
                                                      Climate risk project
                                                  •   Royalty income from landfill gas $21.8k above
                                                      budget (137.6% or $79.9k of $58.1k annual
                                                      budget earned)
                                                  •   Recoupment of Waste Bin (SULO) purchases
                                                      $62.1k above budget (160.1% or $165.5k of
                                                      $103.3k annual budget earned).
                                                  •   $67.8k proceeds from Insurance claim for
                                                      damage to Council property
                                                  •   Ferry Service revenue $432k below YTD
                                                      budget (61.3% or $683.7k of $1.1 million
                                                      annual budget earned)

 Operating Grants,   $7.0 million (98.1%) of      •   $1.4 million of the FY 2025 financial assistance
 Subsidies           the $7.1 million annual          grant allocation was received in July
                     budget has been                  2024. This is a change from the previous
                     received                         approach of prepaying part or all of the grant
                                                      in the preceding year.
                                                  •   Prepayment of the financial assistance grant
                                                      has been consistent over the past 7 years
                                                  •   Council received a 50% prepayment of the
                                                      2025/26 financial assistance grant of $884.6k
                                                      in June 2025. As a result, funding from the
                                                      financial assistance grant is showing $442.9k
                                                      over budget for the year. Note however this is
                                                      a timing issue only.
                                                  •   This has been offset by the timing of receipt of
                                                      QCoast, Housing Support Program and Flood
                                                      Risk Mitigation Program grant funds.

 Unitywater          On track                     •   Unitywater distributions are fixed each year so
 Distributions                                        there is limited budget variance risk

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