Financial Performance Report – Jun 2025 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                   14 JULY 2025


Category         Summary              Comments
                                            •   Property and Facilities $251.3k below FY
                                                budget (91.1% or $2.6 million of $2.8
                                                million annual budget spent)
                                            •   Corporate Services $172.9k below FY
                                                budget (31.9% or $81.2k of $254.2k
                                                annual budget spent)
                                            •   Arts & Culture $207.7k below FY budget
                                                (91.4% or $2.2 million of $2.4 million
                                                annual budget spent)
                                            •   Canals & Waterways $162.9k below FY
                                                budget (52.9% or $183.3k of $346.2k
                                                annual budget spent)
                                            •   Financial Services $154k below FY budget
                                                (64.11% or $276.4k of $431.0k annual
                                                budget spent)
                                            •   Community Development $141.4k below
                                                FY budget (87.6% or $994.2k of $1.2k
                                                annual budget spent) This variance relates
                                                primarily to the timing of the payment of
                                                community grants.
                                            •   Buildings & Facilities $139.8k below FY
                                                budget (88.7% or $1.1 million of $1.2
                                                million annual budget spent)
                                            •   Development & Assessment $124.8k
                                                below FY budget (90.5% or $1.2 million of
                                                $1.3 million annual budget spent)
                                            •   Digital Hub $104.5k below FY budget
                                                (79.9% or $414.1k of $518.5k annual
                                                budget spent) The majority of this
                                                underspend relates to grant funded
                                                projects.
                                            •   Levy funded materials & services $1.4m
                                                below FY budget (70.0% or 3.2 million of
                                                $4.5 million annual budget spent) Unspent
                                                levy funds are held in reserve for future
                                                use where they are not fully utilised in a
                                                given year
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. FY underspend also
                                                relates to the timing of drawdown of
                                                forecast borrowings for FY 2025 and
                                                finalisation of year end adjustments.
Depreciation     Currently on track   Nil
Other Expenses   Currently on track   Nil