2020-10-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                         12 OCTOBER 2020


      Category           Summary                                          Comments
      Interest           $196k (23%) of the $870k                        Interest revenues on cash invested will
      Received           annual budget has been                           need ongoing monitoring given potential
                         earned                                           further interest rate cuts and impacts on
                                                                          term deposit / cash fund rates
      Unitywater         On track                                         Nil
      Dividend and
      Tax
      Other Revenue      $513k (26%) of the $2.0                         Recoupment of Unitywater charges from
                         million budget has been                          lessees $26k above YTD budget - offset by
                         earned                                           additional utility charge expenses
      Operating          $1.6 million (27%) of the                       Disaster resilience and recovery grant of
      Grants,            $5.8 million budget has                          $152k received for 2019 fire events (not
      Subsidies          been received                                    budged)
                                                                         50% ($1.2 million) of the financial
                                                                          assistance grant was prepaid in May 2020
                                                                          and may impact on Council’s 2020/21 final
                                                                          operating position if the prepayment
                                                                          approach is discontinued by the Australian
                                                                          government
                                                                         All operating grants are in line with budget
                                                                          expectations at this stage
      Unitywater         On track                                        Unitywater distributions are fixed each year
      Distributions                                                       so there is little budget variance risk
                                                                         Unitywater have advised that distributions
                                                                          will not change due to any COVID-19
                                                                          impacts on its financial position

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

     $3.0
                                                    $2.5
     $2.5                                                                          YTD Budget ($m)
            $2.0 $2.1
                                                                                   YTD Actual ($m)
     $2.0
                                             $1.5                                                     $1.6
     $1.5                                                                                  $1.3


     $1.0

     $0.5                             $0.2                 $0.3 $0.3                                         $0.3 $0.3
                        $0.2                                                        $0.2
                                                                           $0.1
     $0.0
                                                                                  Other
              Charges




                                                            Income




                                                                                             Grants
                                              Goods &




                                                                                                               Unitywater
                                              Services
                                              Sales of




                                                             Rental
                           Interest
              Fees &




                                                                                                                Share of




   Operating Expenditure (YTD Benchmark 25.0%)

   Actual operating expenditure is currently 24% ($23.7 million) of full year budget ($98.8
   million). Detailed commentary for each expenditure category is provided below.




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