2017-03-13 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                 13 MARCH 2017


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee Meeting
dated 13 March 2017 providing the February YTD monthly financial performance report for the
2016/17 financial year.


REPORT
Operating Revenue (YTD Benchmark 67% - 8 months)

Council has recognised 92% ($82 million) of its operating revenue budget of $89 million as at the
end of February 2017. Commentary on each revenue category is provided below:
   Rates and Levies – $62.4m (100%) of the annual budget of $62.3m has been earned.
     General rates are marginally above forecast levels ($46k) and waste collection charges are
     $22k (net) above budget, with discounts and pensioner remissions marginally exceeding
     budgeted levels ($11k).
      Fees and Charges – Fees and charges earned ($4.1m) totals 90% of the full year forecast.
        Planning Material Change of Use ($270k), Planning Lot Reconfiguration ($41k), and
        Planning Operational Works fees ($99k), Plumbing Inspection fees ($25k), Change of
        Property Ownership fees ($51k) and Property Search fees ($65k) all currently exceed YTD
        budget.
      Interest Received – Interest on invested funds is currently $131k ahead of revised YTD
        forecast levels. Interest on outstanding rates is showing $40k below the YTD budget
        (reflecting the increased attention to rate arrears collection over the last 6 months).
      Dividend and Tax – Dividends and the payment of tax equivalent from Unitywater are in line
        with YTD budget.
      Other Revenue – Other revenue earned ($7.5m) totals 78% of the full year forecast. Sale of
        Waste Recyclables ($196k), Waste Tip Fees ($39k) auction proceeds ($47k), Lease revenue
        ($102k), Holiday Park fees ($166k), Noosa Leisure Centre activities ($34k), and Noosa
        Aquatic Centre revenues ($97k) are all above YTD budget.
      Grants, Subsidies & Contributions – Receipts for operational grants $42k ahead of YTD
        budget, related to $7k from RADF, and the balance represented by $26k operational funding
        and a contribution of $13k for Noosa Community Support.

Figure 2: Operating Revenue Position by Type (Excluding Rates)
 $8.0
                                   YTD Budget ($m)
 $7.0
                                   YTD Actual ($m)
 $6.0

 $5.0

 $4.0

 $3.0

 $2.0

 $1.0

 $0.0
                                                        Other
             Fees




                                                                  Grants
                        Dividend




                                                Tax
                                     Interest




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