FINANCIAL PERFORMANCE REPORT – MAY 2025 (Deferred from General Committee Meeting dated 16 June 2025 Item 8.13) · FINANCIAL PERFORMANCE REPORT

ORDINARY MEETING                                                                        19 JUNE 2025


Category            Summary                   Comments



Interest Received   $6.1 million (164.8%)        •   Interest revenues have continued to track
                    of the $3.7 million              above budget with investment in higher
                    annual budget has                yielding term deposits maximising the return
                    been earned                      on surplus cash holdings. Cash holdings
                                                     remain high due to the advanced payment of
                                                     grants & subsidies, restricted levy balances,
                                                     future provision balances and delays in the
                                                     delivery of the capital works program.



Other Revenue       $3.1 million (96.2%) of      •   Plant recharge revenue is $116.4k above
                    the $3.2 million annual          budget due to internal plant being utilised for
                    budget has been                  the delivery of disaster funded capital projects.
                    earned                       •   Ferry Service revenue $257.3k below YTD
                                                     budget (69.5% or $757.9k of $1.1 million
                                                     annual budget earned)
                                                 •   $74.9k partnership revenue for Cascading
                                                     Climate risk project
                                                 •   $67.8k proceeds from Insurance claim for
                                                     damage to Council property
Operating Grants,   $5.5 million (76.9%) of      •   Operating Grants and subsidies tracking
Subsidies           the $7.1 million annual          above budget expectations at this stage of the
                    budget has been                  year
                    received                     •   $1.4 million of the FY 2025 financial assistance
                                                     grant allocation was received in July
                                                     2024. This is a change from the previous
                                                     approach of prepaying part or all of the grant
                                                     in the preceding year. This prepayment
                                                     approach had been consistent over the past 7
                                                     years.
                                                 •   Council has received notification of the
                                                     approved FY 2024/25 financial assistance
                                                     grant allocation which is less than
                                                     budgeted. As such there is potential for this to
                                                     impact the FY 24/25 operating position if
                                                     payment of future years allocations are not
                                                     paid in the preceding year.

Unitywater          On track                     •   Unitywater distributions are fixed each year so
Distributions                                        there is limited budget variance risk