2018-06-21 Ordinary Meeting Agenda

ORDINARY MEETING AGENDA                                                                    21 JUNE 2018


RECOMMENDATION
That Council note the report by the Manager Financial Services to the Ordinary Meeting dated 21
June 2018 outlining May year to date financial performance against budget.



REPORT
Operating Revenue (YTD Benchmark 91.7%)
Council has received 99% ($92.3 million) of its operating revenue budget ($93.2 million).
Commentary on each revenue category is provided below.


Category            Summary                          Comments
Rates and Levies    $64.0 million (100%) of the           Overall, rates and levies earned are in line with
                    annual budget of $64.0                 budget expectations
                    million has been earned
Fees and Charges    $5.8 million (106%) of the            Development related fees $226k above YTD
                    $5.4 million annual budget             budget (110% or $1.4m of $1.3m budget
                    has been earned                        earned)
                                                          Local laws fees $203k above YTD budget
                                                           (119% or $1.2m of $981k budget earned)
                                                          Building application and search fees $85k
                                                           above YTD budget (109% or $529k or $489k
                                                           budget earned)
                                                          Community land use applications and permits
                                                           $41k above YTD budget (106% or $386k of
                                                           $364k budget earned)
                                                          Public health licences and infringements $22k
                                                           above YTD budget (104% or $340k of $328k
                                                           budget earned)
                                                          Property related search and change of
                                                           ownership fees $21k above YTD budget (99%
                                                           or $342k of $344 budget earned)
Sale of Goods and   $8.4 million (97%) of the $8.8        Landfill disposal charges $153k above YTD
Services            million budget has been                budget (100% of $2.7m budget earned)
                    received                              Noosa Aquatic Centre $5k above YTD budget
                                                           (97% or $1.69m of $1.74m budget earned)
                                                          The J $53k above YTD budget (104% or $389k
                                                           of the $375k budget earned)
                                                          Noosa Leisure Centre $25k above YTD budget
                                                           (97% or $513k of the $527k budget earned)
                                                          Holiday parks $33k above YTD budget (95% or
                                                           $3.0m of $3.2m budget earned)
Interest Received   $4.0 million (85%) of the $4.6        Investment revenue $87k above YTD budget
                    million annual budget has              (100% of $1.5m budget earned)
                    been earned                           Interest on overdue rates $36k above YTD
                                                           budget (101% or $452k of $450k budget
                                                           earned)
Dividend and Tax    On track                         Nil
Other Revenue       $2.6 million (104%) of the            Lease    management      income    (primarily
                    $2.5 million budget has been           telecommunication leasing) $63k above YTD
                    earned                                 budget (98% or $889k of $1.0 million budget
                                                           earned)

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