03 Financial Performance Report - Sep 2021

GENERAL COMMITTEE MEETING AGENDA                                                                         18 OCTOBER 2021


 Category               Summary                                Comments
 Interest               $193k (29%) of the $670k               •     Interest revenues on cash invested will need
 Received               annual budget has been                       ongoing monitoring given low interest rates and
                        earned                                       impacts on term deposit / cash fund rate return
 Other Revenue          $642k (21%) of the $3.1                •     Other revenue is in line                       with   budget
                        million budget has been                      expectations at this stage
                        earned
 Operating              $1.6 million (28%) of the $5.8         •     Operating grants are in line with budget
 Grants,                million budget has been                      expectations at this stage.
 Subsidies              received                               •     50% ($1.2 million) of the financial assistance
                                                                     grant was again prepaid in June 2021 and may
                                                                     impact on Council’s 2021/22 final operating
                                                                     position if the prepayment approach is
                                                                     discontinued by the Australian government.
 Unitywater             On track                               •     Unitywater distributions are fixed each year so
 Distributions                                                       little budget variance risk

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

  $3.5
                 $3.0                        $3.0                         YTD Budget ($m)
  $3.0
                                                                          YTD Actual ($m)
         $2.2                         $2.4
  $2.5

  $2.0
                                                                                              $1.6
                                                                                   $1.5
  $1.5

  $1.0
                                                    $0.4 $0.4                                        $0.3 $0.3
  $0.5                                                               $0.2 $0.2
                         $0.2 $0.2

  $0.0
             Charges




                                                                         Other
                                                     Income




                                                                                     Grants
                                       Goods &




                                                                                                       Unitywater
                                       Services
                                       Sales of




                                                      Rental
                           Interest
             Fees &




                                                                                                        Share of




Operating Expenditure (YTD Benchmark 25.0%)
Actual operating expenditure is currently 24% ($25.6 million) of full year budget ($107.9 million).
Detailed commentary for each expenditure category is provided below.

 Category               Summary                                Comments
 Employee Costs         $8.2 million (22%) of the              •     Under expenditure for permanent staff salaries
                        annual budget of $37.7 million               and wages ($753k) partially offset by additional
                        has been expended                            spend on casual staff and external labour hire
                                                                     ($322k).
 Materials and          $12.1 million (25%) of the             •     Waste Management $143k below YTD budget
 Services               $49.3 million annual budget                  (22.6% or $2.5 million of $11.1 million budget
                        has been expended.                           spent)
                                                               •     Holiday Parks $148k above YTD budget (34.0%
                                                                     or $488k of $1.4 million budget spent) – offset
                                                                     by additional revenue
 Finance Costs          On track                               Nil
 Depreciation           On track                               Nil
 Other Expenses         On track                               Nil