2021-02-15 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                      15 FEBRUARY 2021


 Category              Summary                                       Comments
                                                                        COVID-19 pandemic closures. Positive revenue
                                                                        variances that hold through the financial year
                                                                        will be offset in part by additional variable
                                                                        operating costs
                                                                      Waste management disposal fees and sale of
                                                                        recoverable materials $418k above YTD budget
                                                                        (67% or $2.7 million of $4.0 million budget
                                                                        earned)
 Interest              $454k (52%) of the $870k                            Interest revenues on cash invested will need
 Received              annual budget has been                               ongoing monitoring given further recent interest
                       earned                                               rate cuts and impacts on term deposit / cash
                                                                            fund rates
 Unitywater            On track                                      Nil
 Dividend and
 Tax
 Other Revenue         $1.5 million (75%) of the $2.0                      Recoupment of Unitywater charges from
                       million budget has been                              lessees $97k above YTD budget - offset by
                       earned                                               additional utility charge expenses
                                                                           Commercial lease revenue $93k above YTD
                                                                            budget (73% or $667k of $919k budget earned)
 Operating             $3.3 million (54%) of the $6.1                      50% ($1.2 million) of the financial assistance
 Grants,               million budget has been                              grant was prepaid in May 2020 and may impact
 Subsidies             received                                             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 so
 Distributions                                                              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)

  $7.0                                             $6.6


  $6.0
                                                                                YTD Budget ($m)
  $5.0                                                                          YTD Actual ($m)
         $3.9 $4.4                          $3.9
  $4.0
                                                                                        $3.2 $3.3
  $3.0
                                                                                                    $1.9 $1.9
  $2.0

  $1.0                               $0.5                 $0.7 $0.9
                       $0.4                                                $0.5 $0.6

  $0.0
                                                                                          Grants
             Charges




                                                           Income




                                                                               Other
                                             Goods &




                                                                                                      Unitywater
                                             Services
                                             Sales of




                                                            Rental
                          Interest
             Fees &




                                                                                                       Share of




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