Financial Performance Report – Jul 2024 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                          12 AUGUST 2024



REPORT


Operating Revenue (YTD Benchmark 8.33%)
Council has received 39.0% ($54.1 million) of its operating revenue budget ($138.8 million).
Commentary on each revenue category is provided below.

 Category            Summary                   Comments
 Rates and Levies    $48.5 million (51.4%)        •   Waste utility charges $160.1k above YTD
                     of the annual budget of          budget (51.2% or $8.7 million of $16.9 million
                     $94.4 million has been           annual budget earned)
                     earned                       •   General rate (net of discounts) $185.4k below
                                                      YTD budget (51.6% or $36.8 million of $71.4
                                                      million annual budget earned)




 Fees and Charges    $1.9 million (17.4%) of      •   Building & Plumbing Compliance $85.8k
                     the annual budget of             above budget (14.5% or $376.5k of $2.6
                     $10.9 million has been           million annual budget earned)
                     earned                       •   Property $18.2k above budget (14.4% or
                                                      $104.9k of a 730.6k annual budget earned)
                                                  •   Local Laws $10.0k above budget (18.66% or
                                                      $470.5k of $460.5k annual budget earned)
                                                  •   Development Assessment $33.1k below
                                                      budget (23.46% or $840.4k of 3.6 million
                                                      annual budget earned)


 Sale of Goods and   $1.5 million (9.3%) of       •   Waste Management fees $139.3k above
 Services            the annual budget of             budget (9.3% or $719.3 million of $7.7 million
                     $15.6 million has been           annual budget earned)
                     earned                       •   Holiday Park revenue $87.2k above budget
                                                      (9.09% or $364.6k of $4.0 million annual
                                                      budget earned). Any revenue upside will be
                                                      generally offset by a corresponding increase in
                                                      associated operating costs.
                                                  •   Sports facility revenue $57.7k above budget
                                                      (9.3% or $277.3k of $2.9 million annual budget
                                                      earned)
                                                  •   Cultural facility revenue $26.3k above budget
                                                      (10.5% or $62.5k of $596.1k annual budget
                                                      earned)


 Interest Received   $0.4 million (13.9%) of      •   Interest revenues are tracking above budget
                     the $3.1 million annual          with investment in higher yielding term
                     budget     has    been           deposits maximising the return on surplus
                     earned                           cash holdings. Cash holdings are higher
                                                      compared that normal due to delays in the
                                                      delivery of the capital works program and the
                                                      advance payment of grants funding.