2020-09-14 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                             14 SEPTEMBER 2020


 Category              Summary                                       Comments
 Interest              $64k (7%) of the $870k                              Recent downward movements in interest rates
 Received              annual budget has been                               will impact on Council’s interest revenue on
                       earned                                               cash invested, and will need to be monitored
 Unitywater            On track                                      Nil
 Dividend and
 Tax
 Other Revenue         $361k (18%) of the $2.0                             Recoupment of Unitywater charges from
                       million budget has been                              lessees $55k above YTD budget - offset by
                       earned                                               additional utility charge expenses
 Operating             $1.3 million (23%) of the $5.8                      Operating grants are in line with budget
 Grants,               million budget has been                              expectations at this stage
 Subsidies             received                                            50% ($1.2 million) of the financial assistance
                                                                            grant was again 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
 Unitywater            On track                                            Unitywater distributions are fixed each year so
 Distributions                                                              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)

  $1.6                                             $1.5
         $1.4 $1.4
                                                              YTD Budget ($m)
  $1.4                                                                                                $1.3
                                                              YTD Actual ($m)              $1.2
  $1.2                                      $1.0
  $1.0
  $0.8
  $0.6
  $0.4
                                                          $0.2 $0.2
                                     $0.1                                           $0.2                     $0.1 $0.1
  $0.2                 $0.1                                                $0.1

  $0.0
                                                                                             Grants
             Charges




                                             Goods &




                                                                                  Other
                                                           Income




                                                                                                               Unitywater
                                             Services
                                             Sales of




                                                            Rental
                          Interest
             Fees &




                                                                                                                Share of




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