04 Financial Performance Report - Oct 2021

GENERAL COMMITTEE MEETING AGENDA                                                                               15 NOVEMBER 2021


    Category                   Summary                                            Comments
                                                                                   Mayor and Councillor Support costs $77k
                                                                                     above YTD budget ($79k of $8k budget
                                                                                     spent) – subscription for Council joining the
                                                                                     SEQ Council of Mayors
                                                                                   CEO’s Office $95k above YTD budget
                                                                                     (89.4% or $271k of $303k budget spent) –
                                                                                     Kin Kin Quarry legal appeal costs
                                                                                   Holiday Parks $230k above YTD budget
                                                                                     (47.3% or $678k of $1.4 million budget
                                                                                     spent) – offset by additional revenue
    Finance Costs              On track                                           Nil
    Depreciation               On track                                           Nil
    Other Expenses             On track                                           Nil

   Figure 3: Operating Expenditure Position by Type

    $18.0
                                     $15.6 $15.4                                    YTD Budget ($m)
    $16.0
                                                                                    YTD Actual ($m)
    $14.0      $12.6 $12.5
    $12.0
    $10.0
     $8.0
                                                                                            $6.5 $6.5
     $6.0
     $4.0
     $2.0
                                                               $0.4 $0.4                                         $0.1 $0.1
     $0.0
                                          Materials




                                                                  Finance Costs
                   Employees




                                                                                                Depreciation




                                                                                                                    Other




   Tourism and Economic Development Investment
   Council resolved to report on a monthly basis investment details for tourism and economic
   development. Expenditure as at 31 October 2021 is outlined below, which includes the first
   instalment payment to Tourism Noosa under the funding agreement.
    Expenditure                                       Annual                YTD                 YTD
                                                      Budget              Budget              Actual
                                                         $m                  $m                  $m
    Payment to Tourism Noosa                           $2.52                      $1.26        $1.26
    Economic Development                               $0.95                      $0.23        $0.18
    Total                                              $3.47                      $1.49        $1.44

   Capital Revenue
   YTD capital revenue of $8.4 million received comprises cash contributions from developers
   ($1.2 million) and capital grants ($7.1 million). Note that the timing of capital grant receipts are
   generally dependent on the timing of grant conditions and also capital delivery performance,
   and that the timing of the receipt of developer contributions (both cash and contributed) is
   unpredictable.