2015-09-15 Planning & Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                            15 SEPTEMBER 2015


RECOMMENDATION
That Council note the report by the Manager Financial Services to the Planning & Organisation
Committee Meeting dated 15 September 2015 providing the August 2015 monthly financial
performance report for the 2015/16 financial year.

REPORT
Recurrent Revenue

Council has received 41% ($36.1 million) of its recurrent revenue budget of $87.3 million as at the
end of August 2015, with the majority of income related to the first half-yearly rates levy.
Commentary on each recurrent revenue type is provided below:

 Rates and Levies – $30.2m (50%) of the annual budget of $60.5m has been recorded.
 Fees and Charges – Fees and charges earned ($1.8m) totals 37% of the full year budget
   (compared to the YTD benchmark of 17%). Various annual fee types such as registration fees
   and licence fees have been issued that is contributing to the positive budget position against
   YTD benchmark. There are also a number of fee areas that are marginally above budget
   forecasts, but being only two months into the financial year it is not prudent to be making any
   predictions for revised forecasts as yet.
 Interest Received – Currently 8% above forecast levels.
 Dividend and Tax – Dividends and the payment of tax equivalent from Unitywater are in line
   with budget forecasts.
 Other Revenue – Generally in accordance with budget predictions.
 Grants and Subsidies – Overall receipts for operational grants are in accordance with budgeted
   levels.

Figure 2: Recurrent Revenue Position by Type (Excluding Rates)
 $2.5


 $2.0
                                   YTD Budget ($m)
 $1.5                              YTD Actual ($m)


 $1.0


 $0.5


 $0.0
                                                        Other
            Fees




                                                                   Grants
                       Dividend




                                             Tax
                                  Interest




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