2016-06-13 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                  13 JUNE 2016


RECOMMENDATION
That Council note the report by the Acting Manager Financial Services to the General Committee
Meeting dated 13 June 2016 providing the May YTD monthly financial performance report for the
2015/16 financial year.


REPORT
Recurrent Revenue (YTD Benchmark 92%)

Council has received 98% ($86.7 million) of its recurrent revenue budget of $88 million as at the
end of May 2016. Commentary on each recurrent revenue type is provided below:

 Rates and Levies – $60.6m (100%) of the annual budget of $60.5m has been recorded.
   General rates are slightly below full year budget with waste collection charges above budget.
 Fees and Charges – Fees and charges earned ($5.4m) totals 106% of the revised full year
   forecast. Planning, development, parking fees, land use permits, and property searches fees
   continue to exceed current YTD budgets.
 Interest Received – Currently 8.2% above YTD forecast levels due to additional interest made
   on cash due to spending timing issues.
 Dividend and Tax – Dividends and the payment of tax equivalent from Unitywater are in line
   with budget forecasts.
 Other Revenue – holiday park fees, rental income, and waste disposal fees continue to be
   above budget, with sale of recyclable materials (concrete and scrap metal) below budget. Sale
   of quarry products for material used in the construction of Dr Pages Road has contributed to
   the overall variance ($284k), offset by an increase in operational costs (cost of goods sold –
   COGS in materials and services expenditure).
 Grants and Subsidies – Receipts for operational grants are generally tracking in accordance
   with adjustments to the revised budget forecast.

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

 $12.0

                                  YTD Budget ($m)
 $10.0
                                  YTD Actual ($m)
  $8.0

  $6.0

  $4.0

  $2.0

  $0.0
                                                       Other
            Fees




                                                                 Grants
                       Dividend




                                                Tax
                                     Interest




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