Meeting papers

GENERAL COMMITTEE MEETING                                                           20 JANUARY 2025


8.6     BUDGET REVIEW 2 (BR2) FOR THE 2024/25 FINANCIAL YEAR


Author              Financial Services Manager, Pauline Coles
                    Financial Services | Corporate Services Department
Index               ECM/ Subject/ 7.40 – 2024-2025 Budget
Attachments         1.   Attachment 1 - BR2 Operating Submissions 2024-25
                    2.   Attachment 2 - BR2 Capital Submissions 2024-25
                    3.   Attachment 3 - BR2 Statement of Income and Expenditure 2024-25
                    4.   Attachment 4 - BR2 Budget Financial Statements 2024-25


EXECUTIVE SUMMARY
The Local Government Act 2009 and Local Government Regulation 2012 require Council to
undertake regular reviews of the adopted budget to ensure it remains reflective of planned activities
to be funded through the financial year. This second budget review for the 2024/25 financial year
(BR2) incorporates any new or emergent actions arising from Council resolution, Executive Team or
Capital Works Executive Committee action, reallocation of funds or realised revenue variance since
the adoption of the current BR1 budget in August 2024.

In summary the budget review is proposing to increase Council’s operating position by $278k,
increasing from a $140k deficit to a $138k surplus. This includes a range of emergent costs that
have been funded through additional revenue and grants received year to date. The revised capital
expenditure program has a base capital works program decreasing from $53.8m to $46.1 million. No
changes were made to the QRA funded disaster program which currently amounts to $78.8
million. This brings the total capital works program to $124.9 million.

Item                                        Current Budget         Adjustments Proposed Budget
                                             (BR1) ($’000)              ($’000)   (BR2) ($’000)

Operating Revenue                                $139,994                $1,309          $141,302
Operating Expenditure                            $140,134                $1,030          $141,164
Operating Result                                    ($140)                 $278               $138
Capital Grants and Contributions
                                                   $95,683             ($2,519)            $93,164
Revenue
Capital Works Expenditure                        $132,594              ($7,677)          $124,917




The report also seeks adoption of proposed General Cost Recovery Fees and Commercial Charges
for the Noosa Holiday Parks for the period from January 2026 to July 2026. These fees and charges
are reviewed every six (6) months as required to maintain a consistent annual forward booking period
and ensure full cost pricing principles are adhered to in the coming financial years in line with National
Competition Policy.


With the recent endorsement by Council of Amendment No 2. To the Noosa Plan 2020 a new fee
has been proposed for applications seeking consideration of assessment under the superseded
planning scheme.




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