2018-11-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                     12 NOVEMBER 2018


RECOMMENDATION
That Council note the report by the Manager Financial Services to the General Committee
Meeting dated 12 November 2018 outlining October 2018 year to date financial performance
against budget.


REPORT
Operating Revenue (YTD Benchmark 33.3%)
Council has received 46% ($44.5 million) of its operating revenue budget ($95.7 million).
Commentary on each revenue category is provided below.

Category           Summary                          Comments
Rates and Levies   $33.2 million (50%) of the           Overall, rates and levies earned are in line with
                   annual budget of $66.6                 budget expectations
                   million has been earned
Fees and           $2.7 million (49%) of the $5.5       Development related fees $165k above YTD
Charges            million annual budget has              budget (48% or $544k of $1.1m budget
                   been earned                            earned)
                                                        Building application and search fees $96k
                                                          above YTD budget (51% or $274k of $534k
                                                          budget earned)
                                                        Local laws registration fees and infringements
                                                          $40k above YTD budget (90% or $436k of
                                                          $485k budget earned)
                                                        Cemetery fees $21k above YTD budget (43%
                                                          or $96k of $221k budget earned)
Sale of Goods      $3.0 million (35%) of the $8.7       Eumundi Landfill disposal charges and
and Services       million budget has been                recyclable sales $63k above YTD budget (33%
                   received                               or $1.0m of $3.0m budget earned)
                                                        Holiday parks $99k above YTD budget (34% or
                                                          $1.0m of $2.9m budget earned)
                                                        Noosa Aquatic Centre $23k above YTD budget
                                                          (32% or $544k of the $1.7m budget earned)
                                                        Noosa Leisure Centre $26k above YTD budget
                                                          (39% or $209k of $536k budget earned)
Interest           $2.0 million (48%) of the $4.3       Investment revenue $184k above YTD budget
Received           million annual budget has              (48% or $601k of $1.25m budget earned)
                   been earned                          Interest on overdue rates and charges $39k
                                                          above YTD budget (43% of $172k of $400k
                                                          budget earned)
Dividend and       On track                         Nil
Tax
Other Revenue      $1.1 million (48%) of the $2.4       Works operations internal recoveries for works
                   million budget has been                and quarry material $343k (no budget)
                   earned                               Waste Management internal recoveries for
                                                          landfill disposal $25k above YTD budget
                                                          (156% or $31k of $20k budget earned)
                                                        Local laws SPER penalty recoveries $21k over
                                                          budget (52% or $58k of $112k budget earned)




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