2022-12-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                 12 DECEMBER 2022


Figure 3: Operating Expenditure Position by Type

$25.0
                            $21.2 $21.9                             YTD Budget ($m)

$20.0                                                               YTD Actual ($m)
           $17.1 $16.6

$15.0

$10.0                                                                      $8.2 $8.2

 $5.0
                                                $0.5 $0.4                                        $0.1 $0.1
 $0.0
                                Materials




                                                    Finance Costs




                                                                              Depreciation
               Employees




                                                                                                    Other
Tourism and Economic Development Investment Summary
Council resolved to report on a monthly basis, investment details for tourism and economic
development. Expenditure at 30 November 2022 is outlined below:


 Expenditure                   Annual Budget                        YTD Budget               YTD Actual      YTD Variance
                                         $m                                $m                       $m
 Payment to Tourism Noosa                   $2.65                          $1.39                  $1.39                 -

 Economic Development                       $1.20                          $0.43                  $0.42             $0.01

 Total                                      $3.85                          $1.81                  $1.80             $0.01

The first instalment payable under the Tourism Noosa agreement for the 2022-23 financial year
has been made. Work on the renewal of the current agreement, which was extended for 12 months
to 30 June 2023 will commence in the coming months.
Economic Development expenditure is on track with the development of the Destination
Management Plan currently underway.
Tourism and economic development activity is funded through the general rate, with 5.8% of the
annual general rate committed towards tourism and economic development. Should actual general
rate revenue fall below budget, this does not impact Council’s contractual commitment to fully fund
its contribution to Tourism Noosa and all associated tourism activity. Any general rate revenue
shortfall is funded through other general revenue sources to ensure all planned activities are
undertaken in full.


Capital Revenue
YTD capital revenue of $15.2 million received comprises cash contributions from developers
($807k) and capital grants ($14.4 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.
In September, Council received funding approval from the Queensland Reconstruction Authority
for reconstruction works relating to the Black Mountain landslip, which occurred during the
February 2022 rain event. Following this approval, Council received an upfront payment of $11.1
million to fund the commencement of these works.


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