2020-11-16 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                               16 NOVEMBER 2020


 Category              Summary                                       Comments
                                                                        revenue variances that hold through the
                                                                        financial year will also be partially offset by
                                                                        additional variable operating costs
                                                                      Waste management disposal fees and sale of
                                                                        recoverable materials $208k above YTD budget
                                                                        (38% or $1.5 million of $4.0 million budget
                                                                        earned)
 Interest              $278k (32%) 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         $754k (38%) of the $2.0                             Recoupment of Unitywater charges from
                       million budget has been                              lessees $82k above YTD budget - offset by
                       earned                                               additional utility charge expenses
 Operating             $2.1 million (37%) of the $5.8                      Disaster resilience and recovery grant of $152k
 Grants,               million budget has been                              received for 2019 fire events (not budgeted)
 Subsidies             received                                            50% ($1.2 million) of the financial assistance
                                                                            grant was 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
                                                                           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)

  $4.0
                                                   $3.5
  $3.5
                                                                                   YTD Budget ($m)
  $3.0   $2.5 $2.6                                                                 YTD Actual ($m)
  $2.5                                                                                                $2.1
                                            $2.1
  $2.0                                                                                     $1.8

  $1.5
                                                                                                             $0.9 $0.9
  $1.0
  $0.5
                                     $0.3                 $0.4 $0.4                 $0.3
                       $0.2                                                $0.1
  $0.0
             Charges




                                                                                  Other
                                                           Income




                                                                                             Grants




                                                                                                               Unitywater
                                             Goods &
                                             Services
                                             Sales of




                                                            Rental
                          Interest
             Fees &




                                                                                                                Share of




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